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REGISTERED NUMBER: 04409477 (England and Wales)















WALLS TRUCK SERVICES LIMITED

Group Strategic Report,

Report of the Directors and

Consolidated Financial Statements

for the Period 1 June 2023 to 30 May 2024






WALLS TRUCK SERVICES LIMITED (REGISTERED NUMBER: 04409477)

Contents of the Consolidated Financial Statements
FOR THE PERIOD 1 JUNE 2023 TO 30 MAY 2024










Page

Company Information 1

Group Strategic Report 2

Report of the Directors 4

Report of the Independent Auditors 6

Consolidated Income Statement 10

Consolidated Other Comprehensive Income 11

Consolidated Balance Sheet 12

Company Balance Sheet 13

Consolidated Statement of Changes in Equity 14

Company Statement of Changes in Equity 15

Consolidated Cash Flow Statement 16

Notes to the Consolidated Cash Flow Statement 17

Notes to the Consolidated Financial Statements 18


WALLS TRUCK SERVICES LIMITED

Company Information
FOR THE PERIOD 1 JUNE 2023 TO 30 MAY 2024







DIRECTORS: A J Wall
J M Wall
M E Wall





SECRETARY: J E Bull





REGISTERED OFFICE: Elfed House
Oak Tree Court
Cardiff Gate Business Park
CARDIFF
County of Cardiff
CF23 8RS





REGISTERED NUMBER: 04409477 (England and Wales)





AUDITORS: Advantage Accountancy & Advisory Ltd,
Chartered Certified Accountants and
Statutory Auditors,
Avalon House,
5-7 Cathedral Road,
Cardiff,
CF11 9HA

WALLS TRUCK SERVICES LIMITED (REGISTERED NUMBER: 04409477)

Group Strategic Report
FOR THE PERIOD 1 JUNE 2023 TO 30 MAY 2024


The directors present their strategic report of the company and the group for the period 1 June 2023 to 30 May 2024.

REVIEW OF BUSINESS
We aim to present a balanced and comprehensive review of the development and performance of our business during the year and its position at the year end. Our review is consistent with the size and non-complex nature of our business and is written in the context of the risks and uncertainties we face.

As for many businesses of our size, the business environment in which we operate continues to be challenging and in light of this and the competitive nature of the industry, we consider the company's results for the year and its financial position at the year end to be satisfactory and believe that the company is well placed to react quickly to any changes in trading conditions and to take advantage of any business opportunities that may arise.

KEY PERFORMANCE INDICATORS

We consider that our key financial performance indicators are those that communicate the financial performance and strength of the company as a whole, being turnover and net profit.

Turnover has remained broadly consistent £10,216,859 (2023 - £10,297,312) reflecting the stability of the company's business in a challenging business environment. There has been a slight fall in the gross profit margin 32.7% (2023 - 34.0%) as a result of increased payroll costs which have similarly had an impact on the profit before tax for the year £855,477 (2023 - £1,172,034). The reduction in the profit before tax can also be attributed to the company's investment in environmentally compliant vehicles during the year resulting in increased depreciation charges.

The board continues to carefully control overheads and to take necessary steps to maximize efficiency from the existing infrastructure

PRINCIPAL RISKS AND UNCERTAINTIES
We continually monitor the principal risks and uncertainties of the business and seek to mitigate any such risks. The company operates in a highly competitive industry and it responds to this risk by continually improving operational effectiveness, providing a strong brand identity and investing in the future of the business.

The principal risks are being mitigated by means of the following (non-exhaustive) measures:


• Strict upkeep of compliance within our third-party network by means of utilising independent third-party
accreditation (PAS43, ISO 9001 etc) and independent verification of insurance through brokers/insurers.


• Continuous investment in environmentally compliant Euro 6 vehicles ensuring ULEZ/LEZ compliance, fuel
efficiency and the ability to continue to service major urban areas as low emission zones are implemented
and/or extended.
• Constantly monitoring fuel price, comparing fuel card site availability to ensure supply is maintained.


WALLS TRUCK SERVICES LIMITED (REGISTERED NUMBER: 04409477)

Group Strategic Report
FOR THE PERIOD 1 JUNE 2023 TO 30 MAY 2024

SECTION 172(1) STATEMENT
In accordance with Section 172(1) of the Companies Act 2006, the directors of Walls Truck Services Limited have acted in a way they consider, in good faith, would be most likely to promote the success of the company for the benefit of its members as a whole. In doing so, they have had regard to the following factors:






• Long-term Consequences & future developments: The directors have consistently made strategic decisions
and exercised judgement with long-term perspective, aiming to ensure sustainable growth and stability for the
company. This includes continual investment in modern vehicles; ongoing investment in our workshop ensuring
it is up to date with all necessary equipment and personnel in order to maintain our fleet and our customers fleet
to the highest standards; continual investment in our existing depots; and ongoing investment in the latest
technology to support the efficiency of our operation to secure the company's future.



• Interest of Employees: The board places great importance on the interests and welfare of our employees. The
implementation of initiatives such as the provision of industry training schemes, first aid training, workplace
safety measures, welfare facilities in our fleet workshop and at our depots reflect our commitment to creating a
supportive and productive work environment.


• Business Relationships: We have fostered strong relationships with suppliers, customers and other business
partners. The directors understand that these relationships are vital for the company's success and have made
decisions that enhance these relationships, ensuring mutual growth and respect.


• Impact on Community and Environment: The directors are mindful of the company's role in the wider
community and its environmental responsibilities. We have continued to support young people through
workplace modern apprenticeships, and we continue to invest in environmentally compliant Euro 6 vehicles.


• Maintaining Company Reputation: The board recognises the importance of upholding a strong and ethical
reputation. Our business practices and policies are designed to reflect our commitment to integrity and
corporate responsibility.

• Acting Fairly Between Members: In all decisions, the directors have strived to act fairly between the members
of the company ensuring transparency, equity and respect in our engagement with shareholders.

Throughout the year, the directors have applied their collective expertise and judgement to make decisions that balance these considerations, always with the aim of ensuring the long-term success of Walls Truck Services Limited.

ON BEHALF OF THE BOARD:





J M Wall - Director


28 August 2025

WALLS TRUCK SERVICES LIMITED (REGISTERED NUMBER: 04409477)

Report of the Directors
FOR THE PERIOD 1 JUNE 2023 TO 30 MAY 2024


The directors present their report with the financial statements of the company and the group for the period 1 June 2023 to 30 May 2024.

PRINCIPAL ACTIVITY
The principal activity of the group in the period under review was that of motor vehicle recovery.

DIVIDENDS
The total distribution of dividends for the period ended 30 May 2024 will be £ 83,401 .

RESEARCH AND DEVELOPMENT
No significant research and development activities were undertaken during the period ending 30 May 2024 (2023: £nil).

DIRECTORS
The directors shown below have held office during the whole of the period from 1 June 2023 to the date of this report.

A J Wall
J M Wall
M E Wall

Other changes in directors holding office are as follows:

It is with regret that the Board announces the death of JM Wall after 30 May 2024 but prior to the date of this report.

FINANCIAL INSTRUMENTS
See note 2 in relation to disclosure on financial instruments.

STATEMENT OF DIRECTORS' RESPONSIBILITIES
The directors are responsible for preparing the Group Strategic Report, the Report of the Directors and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and the group and of the profit or loss of the group for that period. In preparing these financial statements, the directors are required to:

- select suitable accounting policies and then apply them consistently;
- make judgements and accounting estimates that are reasonable and prudent;
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's and the group's transactions and disclose with reasonable accuracy at any time the financial position of the company and the group and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and the group and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS
So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the group's auditors are unaware, and each director has taken all the steps that he or she ought to have taken as a director in order to make himself or herself aware of any relevant audit information and to establish that the group's auditors are aware of that information.

WALLS TRUCK SERVICES LIMITED (REGISTERED NUMBER: 04409477)

Report of the Directors
FOR THE PERIOD 1 JUNE 2023 TO 30 MAY 2024


AUDITORS
The auditors, Advantage Accountancy & Advisory Ltd,, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:





J M Wall - Director


28 August 2025

Report of the Independent Auditors to the Members of
Walls Truck Services Limited


Opinion
We have audited the financial statements of Walls Truck Services Limited (the 'parent company') and its subsidiaries (the 'group') for the period ended 30 May 2024 which comprise the Consolidated Income Statement, Consolidated Other Comprehensive Income, Consolidated Balance Sheet, Company Balance Sheet, Consolidated Statement of Changes in Equity, Company Statement of Changes in Equity, Consolidated Cash Flow Statement and Notes to the Consolidated Cash Flow Statement, Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:
-give a true and fair view of the state of the group's and of the parent company affairs as at 30 May 2024 and of the group's profit for the period then ended;
-have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
-have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the group in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern
In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the group's and the parent company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Other information
The directors are responsible for the other information. The other information comprises the information in the Group Strategic Report and the Report of the Directors, but does not include the financial statements and our Report of the Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
- the information given in the Group Strategic Report and the Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and
- the Group Strategic Report and the Report of the Directors have been prepared in accordance with applicable legal requirements.

Report of the Independent Auditors to the Members of
Walls Truck Services Limited


Matters on which we are required to report by exception
In the light of the knowledge and understanding of the group and the parent company and its environment obtained in the course of the audit, we have not identified material misstatements in the Group Strategic Report or the Report of the Directors.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:
- adequate accounting records have not been kept by the parent company, or returns adequate for our audit have not been received from branches not visited by us; or
- the parent company financial statements are not in agreement with the accounting records and returns; or
- certain disclosures of directors' remuneration specified by law are not made; or
- we have not received all the information and explanations we require for our audit.

Responsibilities of directors
As explained more fully in the Statement of Directors' Responsibilities set out on page four, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the directors are responsible for assessing the group's and the parent company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the group or the parent company or to cease operations, or have no realistic alternative but to do so.

Report of the Independent Auditors to the Members of
Walls Truck Services Limited


Auditors' responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from
material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion.
Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements. Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

•The engagement partner ensured that the engagement team collectively had the appropriate competence, capabilities, and skills to identify or recognise non-compliance with applicable laws and regulations;

•We obtained understanding of the legal and regulatory frameworks applicable to the company and the sector in which they operate. We determined that the following laws and regulations were most significant: The Companies Act 2006 , UK corporate taxation laws, employment legislation and health and safety legislation.* We obtained an understanding of how the company are complying with those legal and regulatory frameworks by making inquiries to management. We corroborated our inquiries through our review of legal correspondence.

•We assessed the susceptibility of the company's financial statements to material misstatements, including how fraud might occur. Audit procedures performed by the engagement team included:



• making enquiries of management as to where they considered there was susceptibility to fraud, their
knowledge of actual, suspected and alleged fraud;

• identifying and assessing the design effectiveness of controls management has in place to prevent and
detect fraud;

• understanding how those charged with governance considered and addressed the potential for override of
controls or other inappropriate influence over the financial reporting process;
• performing analytical procedures to identify any unusual or unexpected relationships;
• challenging assumptions and judgements made by management in its significant accounting estimates;

• identifying and testing journal entries, in particular any journal entries posted with unusual account
combinations; and
• assessing the extent of compliance with relevant laws and regulations.


There are inherent limitations in our audit procedures described above. The more removed that laws and regulations are from financial transactions, the less likely it is that we would become aware of non-compliance. Auditing standards also limit the audit procedures required to identify non-compliance with laws and regulations to enquiry of the directors and other management and the inspection of regulatory and legal correspondence, if any.

Material misstatements that arise due to fraud can be harder to detect than those that arise from error as they may involve deliberate concealment or collusion.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors.

Other matters
Comparative information in the financial statements is derived from the company's prior period financial statements which were not audited.

Report of the Independent Auditors to the Members of
Walls Truck Services Limited


Use of our report
This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.




Stephen John Bickerton (Senior Statutory Auditor)
for and on behalf of Advantage Accountancy & Advisory Ltd,
Chartered Certified Accountants and
Statutory Auditors,
Avalon House,
5-7 Cathedral Road,
Cardiff,
CF11 9HA

28 August 2025

WALLS TRUCK SERVICES LIMITED (REGISTERED NUMBER: 04409477)

Consolidated Income Statement
FOR THE PERIOD 1 JUNE 2023 TO 30 MAY 2024

Period
1/6/23
to Year Ended
30/5/24 31/5/23
Notes £    £   

TURNOVER 3 10,216,859 10,297,312

Cost of sales (6,879,363 ) (6,791,329 )
GROSS PROFIT 3,337,496 3,505,983

Administrative expenses (2,755,231 ) (2,519,809 )
582,265 986,174

Other operating income 4 569,911 500,000
OPERATING PROFIT 6 1,152,176 1,486,174


Interest payable and similar expenses 8 (296,699 ) (314,140 )
PROFIT BEFORE TAXATION 855,477 1,172,034

Tax on profit 9 (346,216 ) 32,872
PROFIT FOR THE FINANCIAL PERIOD 509,261 1,204,906
Profit attributable to:
Owners of the parent 509,261 1,204,906

WALLS TRUCK SERVICES LIMITED (REGISTERED NUMBER: 04409477)

Consolidated Other Comprehensive Income
FOR THE PERIOD 1 JUNE 2023 TO 30 MAY 2024

Period
1/6/23
to Year Ended
30/5/24 31/5/23
Notes £    £   

PROFIT FOR THE PERIOD 509,261 1,204,906


OTHER COMPREHENSIVE INCOME - -
TOTAL COMPREHENSIVE INCOME FOR
THE PERIOD

509,261
Prior year adjustment (1,419,734 )
TOTAL COMPREHENSIVE INCOME SINCE
LAST ANNUAL REPORT

(214,828

)

Total comprehensive income attributable to:
Owners of the parent 509,261 (214,828 )

WALLS TRUCK SERVICES LIMITED (REGISTERED NUMBER: 04409477)

Consolidated Balance Sheet
30 MAY 2024

2024 2023
Notes £    £   
FIXED ASSETS
Intangible assets 12 - -
Tangible assets 13 4,003,783 2,846,002
Investments 14 - -
4,003,783 2,846,002

CURRENT ASSETS
Stocks 15 46,416 48,175
Debtors 16 3,736,526 3,334,512
Cash at bank 119,685 106,942
3,902,627 3,489,629
CREDITORS
Amounts falling due within one year 17 (4,599,220 ) (4,473,406 )
NET CURRENT LIABILITIES (696,593 ) (983,777 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

3,307,190

1,862,225

CREDITORS
Amounts falling due after more than one
year

18

(1,855,897

)

(1,124,698

)

PROVISIONS FOR LIABILITIES 22 (690,874 ) (402,968 )
NET ASSETS 760,419 334,559

CAPITAL AND RESERVES
Called up share capital 23 350,100 350,100
Retained earnings 24 410,319 (15,541 )
SHAREHOLDERS' FUNDS 760,419 334,559

The financial statements were approved by the Board of Directors and authorised for issue on 28 August 2025 and were signed on its behalf by:





J M Wall - Director


WALLS TRUCK SERVICES LIMITED (REGISTERED NUMBER: 04409477)

Company Balance Sheet
30 MAY 2024

2024 2023
Notes £    £   
FIXED ASSETS
Intangible assets 12 - -
Tangible assets 13 3,916,761 2,689,160
Investments 14 - -
3,916,761 2,689,160

CURRENT ASSETS
Stocks 15 37,101 39,131
Debtors 16 3,771,605 3,160,118
Cash at bank 118,600 95,957
3,927,306 3,295,206
CREDITORS
Amounts falling due within one year 17 (3,906,964 ) (3,628,017 )
NET CURRENT ASSETS/(LIABILITIES) 20,342 (332,811 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

3,937,103

2,356,349

CREDITORS
Amounts falling due after more than one
year

18

(1,855,897

)

(1,108,039

)

PROVISIONS FOR LIABILITIES 22 (690,874 ) (402,968 )
NET ASSETS 1,390,332 845,342

CAPITAL AND RESERVES
Called up share capital 23 350,100 350,100
Retained earnings 1,040,232 495,242
SHAREHOLDERS' FUNDS 1,390,332 845,342

Company's profit for the financial year 628,391 1,252,781

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

The financial statements were approved by the Board of Directors and authorised for issue on 28 August 2025 and were signed on its behalf by:





J M Wall - Director


WALLS TRUCK SERVICES LIMITED (REGISTERED NUMBER: 04409477)

Consolidated Statement of Changes in Equity
FOR THE PERIOD 1 JUNE 2023 TO 30 MAY 2024

Called up
share Retained Total
capital earnings equity
£    £    £   
Balance at 1 June 2022 350,100 261,432 611,532
Prior year adjustment - (1,419,734 ) (1,419,734 )
As restated 350,100 (1,158,302 ) (808,202 )

Changes in equity
Dividends - (62,145 ) (62,145 )
Total comprehensive income - 1,204,906 1,204,906
Balance at 31 May 2023 350,100 (15,541 ) 334,559

Changes in equity
Dividends - (83,401 ) (83,401 )
Total comprehensive income - 509,261 509,261
Balance at 30 May 2024 350,100 410,319 760,419

WALLS TRUCK SERVICES LIMITED (REGISTERED NUMBER: 04409477)

Company Statement of Changes in Equity
FOR THE PERIOD 1 JUNE 2023 TO 30 MAY 2024

Called up
share Retained Total
capital earnings equity
£    £    £   
Balance at 1 June 2022 350,100 477,243 827,343
Prior year adjustment - (1,172,637 ) (1,172,637 )
As restated 350,100 (695,394 ) (345,294 )

Changes in equity
Dividends - (62,145 ) (62,145 )
Total comprehensive income - 1,252,781 1,252,781
Balance at 31 May 2023 350,100 495,242 845,342

Changes in equity
Dividends - (83,401 ) (83,401 )
Total comprehensive income - 628,391 628,391
Balance at 30 May 2024 350,100 1,040,232 1,390,332

WALLS TRUCK SERVICES LIMITED (REGISTERED NUMBER: 04409477)

Consolidated Cash Flow Statement
FOR THE PERIOD 1 JUNE 2023 TO 30 MAY 2024

Period
1/6/23
to Year Ended
30/5/24 31/5/23
Notes £    £   
Cash flows from operating activities
Cash generated from operations 1 1,495,569 1,380,409
Interest paid (296,699 ) (314,140 )
Net cash from operating activities 1,198,870 1,066,269

Cash flows from investing activities
Purchase of tangible fixed assets (1,997,146 ) (714,062 )
Sale of tangible fixed assets 298,050 146,000
Net cash from investing activities (1,699,096 ) (568,062 )

Cash flows from financing activities
Other loan repayments in year (55,250 ) (46,302 )
Loan repayments in year (12,098 ) (12,102 )
HP deposits paid (109,233 ) (56,128 )
New HP loan 2,444,137 1,044,709
Capital repayments in year (1,435,159 ) (1,027,132 )
Amount withdrawn by directors (111,748 ) (159,758 )
Amounts paid to related parties (124,279 ) (130,567 )
Equity dividends paid (83,401 ) (62,145 )
Net cash from financing activities 512,969 (449,425 )

Increase in cash and cash equivalents 12,743 48,782
Cash and cash equivalents at beginning
of period

2

106,942

58,160

Cash and cash equivalents at end of
period

2

119,685

106,942

WALLS TRUCK SERVICES LIMITED (REGISTERED NUMBER: 04409477)

Notes to the Consolidated Cash Flow Statement
FOR THE PERIOD 1 JUNE 2023 TO 30 MAY 2024


1. RECONCILIATION OF PROFIT BEFORE TAXATION TO CASH GENERATED FROM OPERATIONS

Period
1/6/23
to Year Ended
30/5/24 31/5/23
£    £   
Profit before taxation 855,477 1,172,034
Depreciation charges 430,054 398,437
Loss on disposal of fixed assets 111,261 8,905
Amortisation of goodwill - 9,574
Finance costs 296,699 314,140
1,693,491 1,903,090
Decrease in stocks 1,759 23,518
Decrease/(increase) in trade and other debtors 35,745 (521,357 )
Decrease in trade and other creditors (235,426 ) (24,842 )
Cash generated from operations 1,495,569 1,380,409

2. CASH AND CASH EQUIVALENTS

The amounts disclosed on the Cash Flow Statement in respect of cash and cash equivalents are in respect of these Balance Sheet amounts:

Period ended 30 May 2024
30/5/24 1/6/23
£    £   
Cash and cash equivalents 119,685 106,942
Year ended 31 May 2023
31/5/23 1/6/22
£    £   
Cash and cash equivalents 106,942 58,160


3. ANALYSIS OF CHANGES IN NET DEBT

At 1/6/23 Cash flow At 30/5/24
£    £    £   
Net cash
Cash at bank 106,942 12,743 119,685
106,942 12,743 119,685
Debt
Finance leases (1,641,766 ) (893,000 ) (2,534,766 )
Debts falling due within 1 year (64,773 ) (2,252 ) (67,025 )
Debts falling due after 1 year (136,994 ) 69,600 (67,394 )
(1,843,533 ) (825,652 ) (2,669,185 )
Total (1,736,591 ) (812,909 ) (2,549,500 )

WALLS TRUCK SERVICES LIMITED (REGISTERED NUMBER: 04409477)

Notes to the Consolidated Financial Statements
FOR THE PERIOD 1 JUNE 2023 TO 30 MAY 2024


1. STATUTORY INFORMATION

Walls Truck Services 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 company's functional and presentational currency in the financial statements is Sterling (£), rounded to the nearest pound.

The significant accounting policies applied in the presentation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

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" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

There have been no material departures from Financial Reporting Standard 102.

GOING CONCERN
The group reports net current liabilities on the balance sheet as at 30 May 2024. As a result the group relies on the continuing financial support of companies under common control. The support will be ongoing for at least 12 months from the date of accounts signature, consequently the directors are satisfied that it is appropriate for the company's financial statements to be prepared on a going concern basis.

FINANCIAL REPORTING STANDARD 102 - REDUCED DISCLOSURE EXEMPTIONS
The group has taken advantage of the following disclosure exemptions in preparing these financial statements, as permitted by FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland":

the requirement of paragraph 3.17(d);
the requirement of paragraph 33.7.

BASIS OF CONSOLIDATION
The consolidated financial statements present the results of the company and its own subsidiary ("the group") as if they form a single entity. Intercompany transactions and balances between group companies are therefore eliminated in full.

The consolidated financial statements incorporate the results of business combinations using the purchase method. In the Balance Sheet, the acquiree's identifiable assets, liabilities and contingent liabilities are initially recognised at their fair values at the acquisition date. The results of acquired operations are included in the Consolidated Statement of Comprehensive Income from the date on which control is obtained. They are deconsolidated from the date control ceases.

CRITICAL ACCOUNTING JUDGEMENTS AND KEY SOURCES OF ESTIMATION UNCERTAINTY
Preparation of the financial statements require management to make significant judgements and estimates. The items in the financial statements where these judgements and estimates have been made include:

DEPRECIATION

The group exercises judgement to determine useful lives and residual values of tangible fixed assets. The assets are depreciated down to their residual values over their estimated useful lives.

TURNOVER
Turnover represents amounts billed and billable in respect of vehicle recovery and repair services provided, excluding value added tax.

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.

WALLS TRUCK SERVICES LIMITED (REGISTERED NUMBER: 04409477)

Notes to the Consolidated Financial Statements - continued
FOR THE PERIOD 1 JUNE 2023 TO 30 MAY 2024


2. ACCOUNTING POLICIES - continued

TANGIBLE FIXED ASSETS
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Improvements to property - 10% on cost
Plant and machinery - 25% on cost
Fixtures and Fittings - 25% on cost
Motor vehicles - 25% on reducing balance and 10% on reducing balance
Computer equipment - 10 - 33% on cost and 25% on cost

STOCKS
Stocks are valued at the lower of cost and selling price, after making due allowance for obsolete and slow moving items.

TAXATION
Current tax represents the amount expected to be paid or recovered in respect of taxable profits for the year and is calculated using the tax rates and laws that have been enacted or substantively enacted at 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 period 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.

PENSION COSTS AND OTHER POST-RETIREMENT BENEFITS
The group operates a defined contribution pension scheme. Contributions payable to the group's pension scheme are charged to profit or loss in the period to which they relate.

FINANCING OF TRADE DEBTORS
The company has assigned some of its trade debtors to a factoring company. Sales financing charges are recognised as they accrue and included in the profit and loss account under finance costs.

HIRE PURCHASE AND LEASING COMMITMENTS
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those
held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital
element of the future payments is treated as a liability

BORROWINGS
Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

WALLS TRUCK SERVICES LIMITED (REGISTERED NUMBER: 04409477)

Notes to the Consolidated Financial Statements - continued
FOR THE PERIOD 1 JUNE 2023 TO 30 MAY 2024


2. ACCOUNTING POLICIES - continued

NON-DERIVATIVE FINANCIAL INSTRUMENTS
Basic financial instruments are recognised at amortised cost.

DEFINED CONTRIBUTION PENSION OBLIGATION
The group operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the group pays fixed contributions into a separate entity. Once the contributions have been paid the group has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are
shown in wages and pension as a liability in the Balance Sheet. The assets of the plan are held separately from the group in independently administered funds.

FINANCIAL INSTRUMENTS RECOGNITION AND MEASUREMENT
The group only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

Debt instruments (other than those wholly repayable or receivable within one year), including loans and other
accounts receivable and payable, are initially measured at present value of the future cash flows and
subsequently at amortised cost using the effective interest method. Debt instruments that are payable or
receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received. However, if the arrangements of a short-term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or in case of an out-right short-term loan that is not at market rate, the financial asset or liability is measured, initially at the present value of future cash flows discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost, unless it qualifies as a loan from a director in the case of a small company, or a public benefit entity concessionary loan.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the consolidated statement of comprehensive income.

CASH AND CASH EQUIVALENTS
Cash and cash equivalents in the balance sheet comprise cash at bank and in hand. For the purpose of the cash flow statement, cash and cash equivalents are net of bank overdrafts which are repayable on demand.

EMPLOYEE BENEFITS
When employees have rendered service to the company, short-term employee benefits to which the employees are entitled are recognised at the undiscounted amount expected to be paid in exchange for that service.

DEBTORS AND CREDITORS RECEIVABLE / PAYABLE WITHIN ONE YEAR
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.

PROVISIONS
Provisions are recognised when the company has an obligation at the reporting date as a result of a past event, it is probable that the company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

DIVIDENDS
Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised
when paid. Final equity dividends are recognised when approved by the shareholders at an annual general
meeting. Dividends on shares recognised as liabilities are recognised as expenses and classified within Interest payable.

SHARE CAPITAL
Ordinary and preference shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

WALLS TRUCK SERVICES LIMITED (REGISTERED NUMBER: 04409477)

Notes to the Consolidated Financial Statements - continued
FOR THE PERIOD 1 JUNE 2023 TO 30 MAY 2024


3. TURNOVER

The turnover and profit before taxation are attributable to the one principal activity of the group.

An analysis of turnover by class of business is given below:

Period
1/6/23
to Year Ended
30/5/24 31/5/23
£    £   
Recovery services 8,049,233 7,795,408
Repairs and parts 2,167,626 2,501,904
10,216,859 10,297,312

All turnover arose within the United Kingdom.

4. OTHER OPERATING INCOME
Period
1/6/23
to Year Ended
30/5/24 31/5/23
£    £   
Sundry receipts 69,911 -
Management charge 500,000 500,000
569,911 500,000

5. EMPLOYEES AND DIRECTORS
Period
1/6/23
to Year Ended
30/5/24 31/5/23
£    £   
Wages and salaries 3,818,303 3,640,277
Social security costs 366,977 357,257
Other pension costs 190,272 181,995
4,375,552 4,179,529

The average number of employees during the period was as follows:
Period
1/6/23
to Year Ended
30/5/24 31/5/23

Director 3 3
Recovery and workshop staff 74 77
Administrative staff 23 22
100 102

The average number of employees by undertakings that were proportionately consolidated during the period was 18 (2023 - 18 ) .

WALLS TRUCK SERVICES LIMITED (REGISTERED NUMBER: 04409477)

Notes to the Consolidated Financial Statements - continued
FOR THE PERIOD 1 JUNE 2023 TO 30 MAY 2024


5. EMPLOYEES AND DIRECTORS - continued

Period
1/6/23
to Year Ended
30/5/24 31/5/23
£    £   
Directors' remuneration 76,308 17,680

6. OPERATING PROFIT

The operating profit is stated after charging:

Period
1/6/23
to Year Ended
30/5/24 31/5/23
£    £   
Depreciation - owned assets 430,054 368,318
Loss on disposal of fixed assets 111,261 8,905
Goodwill amortisation - 9,574

7. AUDITORS' REMUNERATION
Period
1/6/23
to Year Ended
30/5/24 31/5/23
£    £   
Fees payable to the company's auditors for the audit of the company's
financial statements

22,500

-

8. INTEREST PAYABLE AND SIMILAR EXPENSES
Period
1/6/23
to Year Ended
30/5/24 31/5/23
£    £   
Bank loan interest 6,536 3,940
Other loan interest 3,469 14,819
HP interest and charges 245,896 271,800
PAYE interest 36,431 23,581
CT interest 4,367 -
296,699 314,140

WALLS TRUCK SERVICES LIMITED (REGISTERED NUMBER: 04409477)

Notes to the Consolidated Financial Statements - continued
FOR THE PERIOD 1 JUNE 2023 TO 30 MAY 2024


9. TAXATION

Analysis of the tax charge/(credit)
The tax charge/(credit) on the profit for the period was as follows:
Period
1/6/23
to Year Ended
30/5/24 31/5/23
£    £   
Current tax:
UK corporation tax 58,310 94,367

Deferred tax 287,906 (127,239 )
Tax on profit 346,216 (32,872 )

UK corporation tax has been charged at 25 % .

RECONCILIATION OF TOTAL TAX CHARGE/(CREDIT) INCLUDED IN PROFIT AND LOSS
The tax assessed for the period is higher than the standard rate of corporation tax in the UK. The difference is explained below:

Period
1/6/23
to Year Ended
30/5/24 31/5/23
£    £   
Profit before tax 855,477 1,172,034
Profit multiplied by the standard rate of corporation tax in the UK of 25 %
(2023 - 20 %)

213,869

234,407

Effects of:
Expenses not deductible for tax purposes 138,045 88,012
Deferred tax movement 287,906 (127,239 )
Capital allowances at effective tax rate (305,604 ) (135,243 )
Balancing charge 12,000 -
Losses carried forward utilised - (92,809 )
Total tax charge/(credit) 346,216 (32,872 )

10. INDIVIDUAL INCOME STATEMENT

As permitted by Section 408 of the Companies Act 2006, the Income Statement of the parent company is not presented as part of these financial statements.


11. DIVIDENDS
Period
1/6/23
to Year Ended
30/5/24 31/5/23
£    £   
'A' Ordinary shares of £1 each
Interim 83,401 62,145

WALLS TRUCK SERVICES LIMITED (REGISTERED NUMBER: 04409477)

Notes to the Consolidated Financial Statements - continued
FOR THE PERIOD 1 JUNE 2023 TO 30 MAY 2024


12. INTANGIBLE FIXED ASSETS

Group
Goodwill
£   
COST
At 1 June 2023
and 30 May 2024 1,291,669
AMORTISATION
At 1 June 2023
and 30 May 2024 1,291,669
NET BOOK VALUE
At 30 May 2024 -
At 31 May 2023 -

Company
Goodwill
£   
COST
At 1 June 2023
and 30 May 2024 425,650
AMORTISATION
At 1 June 2023
and 30 May 2024 425,650
NET BOOK VALUE
At 30 May 2024 -
At 31 May 2023 -

13. TANGIBLE FIXED ASSETS

Group
Improvements Fixtures
to Plant and and
property machinery Fittings
£    £    £   
COST
At 1 June 2023 310,516 84,211 187,621
Additions - - 56,456
Disposals - - -
At 30 May 2024 310,516 84,211 244,077
DEPRECIATION
At 1 June 2023 259,756 83,174 176,035
Charge for period 11,071 1,014 12,651
Eliminated on disposal - - -
At 30 May 2024 270,827 84,188 188,686
NET BOOK VALUE
At 30 May 2024 39,689 23 55,391
At 31 May 2023 50,760 1,037 11,586

WALLS TRUCK SERVICES LIMITED (REGISTERED NUMBER: 04409477)

Notes to the Consolidated Financial Statements - continued
FOR THE PERIOD 1 JUNE 2023 TO 30 MAY 2024


13. TANGIBLE FIXED ASSETS - continued

Group

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 June 2023 4,795,335 19,544 5,397,227
Additions 1,940,690 - 1,997,146
Disposals (795,843 ) - (795,843 )
At 30 May 2024 5,940,182 19,544 6,598,530
DEPRECIATION
At 1 June 2023 2,014,162 18,098 2,551,225
Charge for period 404,232 1,086 430,054
Eliminated on disposal (386,532 ) - (386,532 )
At 30 May 2024 2,031,862 19,184 2,594,747
NET BOOK VALUE
At 30 May 2024 3,908,320 360 4,003,783
At 31 May 2023 2,781,173 1,446 2,846,002

Company
Improvements Fixtures
to and Motor Computer
property Fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 June 2023 300,361 184,176 3,749,364 19,544 4,253,445
Additions - 56,456 1,940,690 - 1,997,146
Disposals - - (694,851 ) - (694,851 )
At 30 May 2024 300,361 240,632 4,995,203 19,544 5,555,740
DEPRECIATION
At 1 June 2023 256,041 172,697 1,117,449 18,098 1,564,285
Charge for period 10,055 12,603 370,537 1,086 394,281
Eliminated on disposal - - (319,587 ) - (319,587 )
At 30 May 2024 266,096 185,300 1,168,399 19,184 1,638,979
NET BOOK VALUE
At 30 May 2024 34,265 55,332 3,826,804 360 3,916,761
At 31 May 2023 44,320 11,479 2,631,915 1,446 2,689,160

WALLS TRUCK SERVICES LIMITED (REGISTERED NUMBER: 04409477)

Notes to the Consolidated Financial Statements - continued
FOR THE PERIOD 1 JUNE 2023 TO 30 MAY 2024


14. FIXED ASSET INVESTMENTS

Company
Shares in
group
undertakings
£   
COST
At 1 June 2023
and 30 May 2024 750,000
PROVISIONS
At 1 June 2023
and 30 May 2024 750,000
NET BOOK VALUE
At 30 May 2024 -
At 31 May 2023 -

The group or the company's investments at the Balance Sheet date in the share capital of companies include the following:

Subsidiary

Kerb King 24/7 Ltd
Registered office: Elfed House Oak Tree Court Mulberry Drive, Cardiff Gate Business Park, Cardiff, South Glamorgan, CF23 8RS
Nature of business: vehicle recovery and repair
%
Class of shares: holding
Ordinary 100.00


15. STOCKS

Group Company
2024 2023 2024 2023
£    £    £    £   
Stocks 46,416 48,175 37,101 39,131

16. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Group Company
2024 2023 2024 2023
£    £    £    £   
Trade debtors 1,402,434 1,580,367 1,300,736 1,435,419
Other debtors 1,295,645 862,551 1,444,585 848,052
Directors' current accounts 7,041 - 7,041 -
Prepayments and accrued income 1,031,406 891,594 1,019,243 876,647
3,736,526 3,334,512 3,771,605 3,160,118

WALLS TRUCK SERVICES LIMITED (REGISTERED NUMBER: 04409477)

Notes to the Consolidated Financial Statements - continued
FOR THE PERIOD 1 JUNE 2023 TO 30 MAY 2024


17. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Group Company
2024 2023 2024 2023
£    £    £    £   
Bank loans and overdrafts (see note 19) 9,526 9,524 9,526 9,524
Other loans (see note 19) 57,499 55,249 57,499 55,249
Hire purchase contracts (see note 20) 746,263 654,062 729,604 599,608
Trade creditors 1,432,701 1,477,475 1,426,147 1,460,248
Social security and other taxes 721,404 778,793 597,138 527,851
Other creditors 1,558,799 1,285,537 1,023,832 769,722
Directors' current accounts - 104,707 - 104,707
Accruals and deferred income 73,028 108,059 63,218 101,108
4,599,220 4,473,406 3,906,964 3,628,017

18. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

Group Company
2024 2023 2024 2023
£    £    £    £   
Bank loans (see note 19) 67,394 79,494 67,394 79,494
Other loans (see note 19) - 57,500 - 57,500
Hire purchase contracts (see note 20) 1,788,503 987,704 1,788,503 971,045
1,855,897 1,124,698 1,855,897 1,108,039

19. LOANS

An analysis of the maturity of loans is given below:

Group Company
2024 2023 2024 2023
£    £    £    £   
Amounts falling due within one year or on demand:
Bank loans 9,526 9,524 9,526 9,524
Other loans 57,499 55,249 57,499 55,249
67,025 64,773 67,025 64,773
Amounts falling due between one and two years:
Bank loans - 1-2 years 9,526 9,526 9,526 9,526
Amounts falling due between two and five years:
Bank loans - 2-5 years 28,579 28,579 28,579 28,579
Other loans - 2-5 years - 57,500 - 57,500
28,579 86,079 28,579 86,079
Amounts falling due in more than five years:
Repayable by instalments
Bank loans more 5 yr by instal 29,289 41,389 29,289 41,389

The interest rate applicable on the bank borrowings is 2.50% over base rate.

WALLS TRUCK SERVICES LIMITED (REGISTERED NUMBER: 04409477)

Notes to the Consolidated Financial Statements - continued
FOR THE PERIOD 1 JUNE 2023 TO 30 MAY 2024


20. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Group
Hire purchase contracts
2024 2023
£    £   
Net obligations repayable:
Within one year 746,263 654,062
Between one and five years 1,788,503 987,704
2,534,766 1,641,766

Company
Hire purchase contracts
2024 2023
£    £   
Net obligations repayable:
Within one year 729,604 599,608
Between one and five years 1,788,503 971,045
2,518,107 1,570,653

Group
Non-cancellable operating leases
2024 2023
£    £   
Within one year 84,812 84,812
Between one and five years 218,535 247,347
In more than five years 200,000 250,000
503,347 582,159

Company
Non-cancellable operating leases
2024 2023
£    £   
Within one year 84,812 84,812
Between one and five years 218,535 247,347
In more than five years 200,000 250,000
503,347 582,159

WALLS TRUCK SERVICES LIMITED (REGISTERED NUMBER: 04409477)

Notes to the Consolidated Financial Statements - continued
FOR THE PERIOD 1 JUNE 2023 TO 30 MAY 2024


21. SECURED DEBTS

The following secured debts are included within creditors:

Group Company
2024 2023 2024 2023
£    £    £    £   
Bank loans 76,920 89,018 76,920 89,018
Hire purchase contracts 2,534,766 1,641,766 2,518,107 1,570,653
Factoring account 660,212 633,048 660,212 633,048
3,271,898 2,363,832 3,255,239 2,292,719

The bank debts are secured by way of fixed and floating charges over the company's assets.

The hire purchase liability is secured on the associated fixed assets.

The directors have provided personal guarantees in respect of the company's debt factoring facility. The
guarantees are limited to 20% of the combined factoring facility limits provided to Walls Truck Services Limited and Celtic Recovery Limited.

22. PROVISIONS FOR LIABILITIES

Group Company
2024 2023 2024 2023
£    £    £    £   
Deferred tax 690,874 402,968 690,874 402,968

Group
Deferred
tax
£   
Balance at 1 June 2023 402,968
Movement in the year 287,906
Balance at 30 May 2024 690,874

Company
Deferred
tax
£   
Balance at 1 June 2023 402,968
Movement in the year 287,906
Balance at 30 May 2024 690,874

23. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
190,076 'A' Ordinary £1 190,076 190,076
100,000 Redeemable preference £1 100,000 100,000
60,024 'B' Ordinary £1 60,024 60,024
350,100 350,100

The redeemable preference shares were issued on 31 May 2005 and they are redeemable at par 5 years from the date of issue at the company's option.

WALLS TRUCK SERVICES LIMITED (REGISTERED NUMBER: 04409477)

Notes to the Consolidated Financial Statements - continued
FOR THE PERIOD 1 JUNE 2023 TO 30 MAY 2024


24. RESERVES

Group
Retained
earnings
£   

At 1 June 2023 (15,541 )
Profit for the period 509,261
Dividends (83,401 )
At 30 May 2024 410,319


25. PENSION COMMITMENTS

The group operates a money purchase group personal pension scheme. The assets of the scheme are held separately from those of the group in independently administered funds. The pension cost of £190,272 (2023: £181,995) represents contributions payable by the group to the scheme. At 30 May 2024, there were outstanding contributions of £8,666 (2023: £4,098).

26. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the period ended 30 May 2024 and the year ended 31 May 2023:

2024 2023
£    £   
J M Wall
Balance outstanding at start of period - -
Amounts advanced 268,688 -
Amounts repaid (261,647 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of period 7,041 -

27. ULTIMATE CONTROLLING PARTY

The company was under the control of Mr J M Wall throughout the current and previous financial year. Mr J M Wall was the managing director and majority shareholder.