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REGISTERED NUMBER: 13288743 (England and Wales)





















WALLACE HIND SELECTION LIMITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024






WALLACE HIND SELECTION LIMITED (REGISTERED NUMBER: 13288743)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024










Page

Company Information 1

Balance Sheet 2 to 3

Notes to the Financial Statements 4 to 7


WALLACE HIND SELECTION LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTORS: Ms J K Burden
L Henning
M G Hogg
S J Platt
M K P Thorpe





REGISTERED OFFICE: The Old Vicarage
1 Main Road
Duston
Northampton
NN5 6JB





REGISTERED NUMBER: 13288743 (England and Wales)





ACCOUNTANTS: Phipps Henson McAllister
Chartered Accountants
22-24 Harborough Road
Kingsthorpe
Northampton
NN2 7AZ

WALLACE HIND SELECTION LIMITED (REGISTERED NUMBER: 13288743)

BALANCE SHEET
31 MARCH 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 691,276 786,633
Tangible assets 5 31,923 41,109
723,199 827,742

CURRENT ASSETS
Debtors 6 245,093 238,056
Cash at bank and in hand 583,301 556,734
828,394 794,790
CREDITORS
Amounts falling due within one year 7 587,261 610,652
NET CURRENT ASSETS 241,133 184,138
TOTAL ASSETS LESS CURRENT LIABILITIES 964,332 1,011,880

CREDITORS
Amounts falling due after more than one
year

8

(874,305

)

(901,752

)

PROVISIONS FOR LIABILITIES (3,038 ) (3,466 )
NET ASSETS 86,989 106,662

CAPITAL AND RESERVES
Called up share capital 200 200
Retained earnings 86,789 106,462
SHAREHOLDERS' FUNDS 86,989 106,662

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

WALLACE HIND SELECTION LIMITED (REGISTERED NUMBER: 13288743)

BALANCE SHEET - continued
31 MARCH 2024


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 31 July 2024 and were signed on its behalf by:





M G Hogg - Director


WALLACE HIND SELECTION LIMITED (REGISTERED NUMBER: 13288743)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024


1. STATUTORY INFORMATION

Wallace Hind Selection Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2021, is being amortised evenly over its estimated useful life of ten years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Computer software is being amortised evenly over its estimated useful life of three years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 10% on reducing balance
Fixtures and fittings - 25% on reducing balance
Computer equipment - 33.33% on cost

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


WALLACE HIND SELECTION LIMITED (REGISTERED NUMBER: 13288743)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Debtors and creditors
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 25 (2023 - 23 ) .

4. INTANGIBLE FIXED ASSETS
Other
intangible
Goodwill assets Totals
£    £    £   
COST
At 1 April 2023
and 31 March 2024 953,574 7,785 961,359
AMORTISATION
At 1 April 2023 166,941 7,785 174,726
Charge for year 95,357 - 95,357
At 31 March 2024 262,298 7,785 270,083
NET BOOK VALUE
At 31 March 2024 691,276 - 691,276
At 31 March 2023 786,633 - 786,633

WALLACE HIND SELECTION LIMITED (REGISTERED NUMBER: 13288743)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


5. TANGIBLE FIXED ASSETS
Improvements Fixtures
to Plant and and Computer
property machinery fittings equipment Totals
£    £    £    £    £   
COST
At 1 April 2023 60,416 2,849 22,188 69,833 155,286
Additions - - - 3,011 3,011
At 31 March 2024 60,416 2,849 22,188 72,844 158,297
DEPRECIATION
At 1 April 2023 43,989 1,889 8,780 59,519 114,177
Charge for year 1,746 96 4,122 6,233 12,197
At 31 March 2024 45,735 1,985 12,902 65,752 126,374
NET BOOK VALUE
At 31 March 2024 14,681 864 9,286 7,092 31,923
At 31 March 2023 16,427 960 13,408 10,314 41,109

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 233,343 211,908
Other debtors 11,750 26,148
245,093 238,056

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 110,469 30,422
Taxation and social security 154,631 130,014
Other creditors 322,161 450,216
587,261 610,652

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Other creditors 874,305 901,752

WALLACE HIND SELECTION LIMITED (REGISTERED NUMBER: 13288743)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


9. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2024 2023
£    £   
Within one year 65,615 103,103
Between one and five years 83,265 123,001
148,880 226,104