REGISTERED NUMBER: 01687073 (England and Wales)

WALLACE ST HOLDINGS LTD

FORMALLY WALLACE SCHOOL OF TRANSPORT LTD

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2025

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

R I Jenkins

N R Wallace

SECRETARY:

R I Jenkins

REGISTERED OFFICE:

8 Steele Road

Park Royal

London

NW10 7AR

REGISTERED NUMBER:

01687073 (England and Wales)

ACCOUNTANTS:

DSJ Partners (UK) Limited

2nd Floor

1 Bell Street

London

NW1 5BY

FIXED ASSETS

Tangible assets

4

2,005,046

2,027,566

CURRENT ASSETS

Debtors

5

320,678

294,772

Cash at bank

1,295,411

1,291,323

1,616,089

1,586,095

CREDITORS

Amounts falling due within one year

6

(506,696

)

(514,554

)

NET CURRENT ASSETS

1,109,393

1,071,541

TOTAL ASSETS LESS CURRENT LIABILITIES

3,114,439

3,099,107

PROVISIONS FOR LIABILITIES

(50,965

)

(52,195

)

NET ASSETS

3,063,474

3,046,912

CAPITAL AND RESERVES

Called up share capital

2

2

Other reserves

198,858

198,858

Retained earnings

2,864,614

2,848,052

3,063,474

3,046,912

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2025 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.

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 Board of Directors and authorised for issue on 26 September 2025 and were signed on its behalf by:

N R Wallace - Director

R I Jenkins - Director

1.	STATUTORY INFORMATION

Wallace ST Holdings Ltd Formally Wallace School of Transport Ltd 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

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation 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:

Land and buildings 2% on straight line

Freehold Fixtures, fittings & equipment 15% on reducing balance

Motor Vehicles 25% on 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.

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.

Pension costs and other post-retirement benefits

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

Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.

Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the balance sheet as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to profit or loss so as to produce a constant periodic rate of interest on the remaining balance of the liability.

Rental income from operating leases is recognised on a straight line basis over the term of the relevant lease. Initial direct costs incurred in negotiating and arranging an operating lease are added to the carrying amount of the leased asset and recognised on a straight line basis over the lease term.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 17 (2024 - 18 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

COST

At 1 February 2024

2,068,386

1,483,680

3,552,066

Additions

-

62,600

62,600

Disposals

-

(13,650

)

(13,650

)

At 31 January 2025

2,068,386

1,532,630

3,601,016

DEPRECIATION

At 1 February 2024

249,600

1,274,900

1,524,500

Charge for year

17,600

65,903

83,503

Eliminated on disposal

-

(12,033

)

(12,033

)

At 31 January 2025

267,200

1,328,770

1,595,970

NET BOOK VALUE

At 31 January 2025

1,801,186

203,860

2,005,046

At 31 January 2024

1,818,786

208,780

2,027,566

The directors estimate the value of the buildings to be £880,000 for depreciation purposes.

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

219,823

194,369

Other debtors

100,855

100,403

320,678

294,772

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade creditors

74,163

33,356

Tax

68,509

121,359

Social security and other taxes

95,744

108,401

Other creditors

268,280

251,438

506,696

514,554