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REGISTERED NUMBER: 04779891 (England and Wales)















FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2024

FOR

DANNY WALLACE LIMITED

DANNY WALLACE LIMITED (REGISTERED NUMBER: 04779891)

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










Page

Balance Sheet 1

Notes to the Financial Statements 3


DANNY WALLACE LIMITED (REGISTERED NUMBER: 04779891)

BALANCE SHEET
31 MAY 2024

31.5.24 31.5.23
Notes £    £   
FIXED ASSETS
Intangible assets 4 285 380
Tangible assets 5 6,038 5,180
Investments 6 - -
6,323 5,560

CURRENT ASSETS
Debtors 7 4,968 8,419
Cash at bank 292,460 174,745
297,428 183,164
CREDITORS
Amounts falling due within one year 8 (69,745 ) (41,797 )
NET CURRENT ASSETS 227,683 141,367
TOTAL ASSETS LESS CURRENT LIABILITIES 234,006 146,927

CAPITAL AND RESERVES
Called up share capital 9 100 100
Retained earnings 233,906 146,827
SHAREHOLDERS' FUNDS 234,006 146,927

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 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.

DANNY WALLACE LIMITED (REGISTERED NUMBER: 04779891)

BALANCE SHEET - continued
31 MAY 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 Profit and Loss has not been delivered.

The financial statements were approved by the director and authorised for issue on 25 February 2025 and were signed by:





Mr D Wallace - Director


DANNY WALLACE LIMITED (REGISTERED NUMBER: 04779891)

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


1. STATUTORY INFORMATION

Danny Wallace Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 04779891

Registered office: 55 Loudoun Road
St John's Wood
London
NW8 0DL

2. ACCOUNTING POLICIES

Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, [modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value]. The principal accounting policies adopted are set out below.

Fixed asset investments
Fixed asset investments are measured at cost less any impairment losses.

Turnover
Turnover represents amounts receivable for services net of VAT. Royalties are recognised when the company becomes entitled to them. Advances are recognised in accordance with the underlying contract. Appearance fees are recognised when the appearance is completed or when the obligation to pay becomes unconditional.

Intangible assets
Amortisation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Intellectual property rights - 25% reducing balance

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 - 25% reducing balance

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.


DANNY WALLACE LIMITED (REGISTERED NUMBER: 04779891)

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


2. ACCOUNTING POLICIES - continued
Taxation
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Research and development expenditure
Research expenditure is written off against profits in the year in which it is incurred.

Foreign exchange
Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.

Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

Cash at bank and in hand
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

3. EMPLOYEES AND DIRECTORS

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

4. INTANGIBLE FIXED ASSETS
Intellectual
property
rights
£   
COST
At 1 June 2023
and 31 May 2024 120,000
AMORTISATION
At 1 June 2023 119,620
Amortisation for year 95
At 31 May 2024 119,715
NET BOOK VALUE
At 31 May 2024 285
At 31 May 2023 380

DANNY WALLACE LIMITED (REGISTERED NUMBER: 04779891)

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


5. TANGIBLE FIXED ASSETS
Plant and
machinery
£   
COST
At 1 June 2023 42,357
Additions 2,199
At 31 May 2024 44,556
DEPRECIATION
At 1 June 2023 37,177
Charge for year 1,341
At 31 May 2024 38,518
NET BOOK VALUE
At 31 May 2024 6,038
At 31 May 2023 5,180

6. FIXED ASSET INVESTMENTS

Fixed asset investments were impaired in the prior year to a net book value of £Nil.

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.24 31.5.23
£    £   
Trade debtors 1,658 7,212
Other debtors 3,310 1,207
4,968 8,419

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.24 31.5.23
£    £   
Trade creditors 31 238
Taxation and social security 63,924 35,219
Other creditors 5,790 6,340
69,745 41,797

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.5.24 31.5.23
value: £    £   
100 Ordinary shares 1 100 100