1 September 2023 false No description of principal activity Taxfiler 2024.6 SC574314business:PrivateLimitedCompanyLtd2023-09-012024-08-31 SC5743142023-08-31 SC5743142023-09-012024-08-31 SC574314business:AuditExemptWithAccountantsReport2023-09-012024-08-31 SC574314business:FilletedAccounts2023-09-012024-08-31 SC5743142024-08-31 SC574314business:Director12023-09-012024-08-31 SC574314business:RegisteredOffice2023-09-012024-08-31 SC5743142023-08-31 SC574314core:WithinOneYear2024-08-31 SC574314core:WithinOneYear2023-08-31 SC574314core:AfterOneYear2024-08-31 SC574314core:AfterOneYear2023-08-31 SC574314core:ShareCapitalcore:PreviouslyStatedAmount2024-08-31 SC574314core:ShareCapitalcore:PreviouslyStatedAmount2023-08-31 SC574314core:RetainedEarningsAccumulatedLossescore:PreviouslyStatedAmount2024-08-31 SC574314core:RetainedEarningsAccumulatedLossescore:PreviouslyStatedAmount2023-08-31 SC574314core:PreviouslyStatedAmount2024-08-31 SC574314core:PreviouslyStatedAmount2023-08-31 SC574314business:SmallEntities2023-09-012024-08-31 SC574314countries:Scotland2023-09-012024-08-31 SC574314core:PlantMachinery2023-09-012024-08-31 SC574314core:MotorVehicles2023-09-012024-08-31 SC574314core:Goodwill2023-08-31 SC574314core:Goodwill2024-08-31 SC574314core:PlantMachinery2023-08-31 SC574314core:MotorVehicles2023-08-31 SC574314core:PlantMachinery2024-08-31 SC574314core:MotorVehicles2024-08-31 SC574314business:OrdinaryShareClass12023-09-012024-08-31 SC574314business:OrdinaryShareClass12022-09-012023-08-31 SC5743142022-09-012023-08-31 iso4217:GBP xbrli:shares xbrli:pure
Company Registration No. SC574314 (Scotland)
Wallace Developments (Scotland) Ltd Unaudited accounts for the year ended 31 August 2024
Wallace Developments (Scotland) Ltd Unaudited accounts Contents
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Wallace Developments (Scotland) Ltd Company Information for the year ended 31 August 2024
Director
Brian Wallace
Company Number
SC574314 (Scotland)
Registered Office
94 HOPE STREET SUITE 2.11 GLASGOW G2 6PH UNITED KINGDOM
Accountants
Scottish Tax Bureau 94 Hope Street Glasgow G2 6PH
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Wallace Developments (Scotland) Ltd Statement of financial position as at 31 August 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Tangible assets
5,414 
7,220 
Current assets
Debtors
11,332 
10,322 
Cash at bank and in hand
52,466 
61,775 
63,798 
72,097 
Creditors: amounts falling due within one year
(20,730)
(20,346)
Net current assets
43,068 
51,751 
Total assets less current liabilities
48,482 
58,971 
Creditors: amounts falling due after more than one year
(26,080)
(31,910)
Net assets
22,402 
27,061 
Capital and reserves
Called up share capital
100 
100 
Profit and loss account
22,302 
26,961 
Shareholders' funds
22,402 
27,061 
For the year ending 31 August 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 4 February 2025 and were signed on its behalf by
Brian Wallace Director Company Registration No. SC574314
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Wallace Developments (Scotland) Ltd Notes to the Accounts for the year ended 31 August 2024
1
Statutory information
Wallace Developments (Scotland) Ltd is a private company, limited by shares, registered in Scotland, registration number SC574314. The registered office is 94 HOPE STREET, SUITE 2.11, GLASGOW, G2 6PH, UNITED KINGDOM.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
25% reducing balance
Motor vehicles
25% reducing balance
Intangible fixed assets
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation.
4
Intangible fixed assets
Goodwill 
£ 
Cost
At 1 September 2023
5,000 
At 31 August 2024
5,000 
Amortisation
At 1 September 2023
5,000 
At 31 August 2024
5,000 
Net book value
At 31 August 2024
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Wallace Developments (Scotland) Ltd Notes to the Accounts for the year ended 31 August 2024
5
Tangible fixed assets
Plant & machinery 
Motor vehicles 
Total 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At 1 September 2023
1,488 
18,048 
19,536 
At 31 August 2024
1,488 
18,048 
19,536 
Depreciation
At 1 September 2023
1,150 
11,166 
12,316 
Charge for the year
85 
1,721 
1,806 
At 31 August 2024
1,235 
12,887 
14,122 
Net book value
At 31 August 2024
253 
5,161 
5,414 
At 31 August 2023
338 
6,882 
7,220 
6
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
Other debtors
11,332 
10,322 
7
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
Bank loans and overdrafts
6,868 
6,985 
Taxes and social security
8,966 
10,913 
Other creditors
4,896 
2,448 
20,730 
20,346 
8
Creditors: amounts falling due after more than one year
2024 
2023 
£ 
£ 
Bank loans
26,080 
31,910 
9
Share capital
2024 
2023 
£ 
£ 
Allotted, called up and fully paid:
100 Ordinary shares of £1 each
100 
100 
10
Average number of employees
During the year the average number of employees was 3 (2023: 4).
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