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REGISTERED NUMBER: 09936422 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 January 2024

for

James Wallace Edinburgh Limited

James Wallace Edinburgh Limited (Registered number: 09936422)






Contents of the Financial Statements
for the Year Ended 31 January 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


James Wallace Edinburgh Limited

Company Information
for the Year Ended 31 January 2024







DIRECTOR: J R Wallace





REGISTERED OFFICE: Flat 1 Mercatus Court
1e Hewison Street
London
E3 2HZ





REGISTERED NUMBER: 09936422 (England and Wales)





ACCOUNTANTS: CMCA Accounting
25A Buccleuch Street
Dumfries
Dumfries & Galloway
DG1 2AT

James Wallace Edinburgh Limited (Registered number: 09936422)

Balance Sheet
31 January 2024

31.1.23 31.1.24
£    £    Notes £    £   
FIXED ASSETS
2,610 Tangible assets 4 2,220
397,700 Investment property 5 397,700
400,310 399,920

CURRENT ASSETS
15,001 Cash at bank 5,050

CREDITORS
99,138 Amounts falling due within one year 6 149,102
(84,137 ) NET CURRENT LIABILITIES (144,052 )
316,173 TOTAL ASSETS LESS CURRENT
LIABILITIES

255,868

CREDITORS
237,960 Amounts falling due after more than one
year

7

172,224
78,213 NET ASSETS 83,644

CAPITAL AND RESERVES
1 Called up share capital 1
78,212 Retained earnings 83,643
78,213 83,644

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

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

The director acknowledges his 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.

James Wallace Edinburgh Limited (Registered number: 09936422)

Balance Sheet - continued
31 January 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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 9 October 2024 and were signed by:





J R Wallace - Director


James Wallace Edinburgh Limited (Registered number: 09936422)

Notes to the Financial Statements
for the Year Ended 31 January 2024

1. STATUTORY INFORMATION

James Wallace Edinburgh 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.

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.

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 etc - 15% on reducing balance

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

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.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - 1 ) .

James Wallace Edinburgh Limited (Registered number: 09936422)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2024

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 February 2023
and 31 January 2024 5,000
DEPRECIATION
At 1 February 2023 2,390
Charge for year 390
At 31 January 2024 2,780
NET BOOK VALUE
At 31 January 2024 2,220
At 31 January 2023 2,610

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 February 2023
and 31 January 2024 397,700
NET BOOK VALUE
At 31 January 2024 397,700
At 31 January 2023 397,700

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.24 31.1.23
£    £   
Bank loans and overdrafts 26,425 26,425
Taxation and social security 1,365 1,461
Other creditors 121,312 71,252
149,102 99,138

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.1.24 31.1.23
£    £   
Bank loans 92,224 237,960
Other creditors 80,000 -
172,224 237,960

James Wallace Edinburgh Limited (Registered number: 09936422)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2024

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR - continued
31.1.24 31.1.23
£    £   
Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal - 105,835

8. RELATED PARTY DISCLOSURES

At 31 January 2024, the company owed the sum of £120,712 (2023 - £70,712) to J Wallace by way of a director's loan account. This sum is repayable on demand and no interest is charged on the amount advanced.