ACCOUNTS - Final Accounts preparation

Company registration number: 11137409

	UNAUDITED FINANCIAL STATEMENTS
	FOR THE YEAR ENDED 31 MARCH 2025

	WALLACE FAMILY INVESTMENT CO. LIMITED


WALLACE FAMILY INVESTMENT CO. LIMITED

COMPANY INFORMATION

Directors	P O Wallace
	M Wallace


Registered number	11137409


Registered office	Richmond House
	Walkern Road
	Stevenage
	Hertfordshire
	SG1 3QP


Accountants	Menzies LLP
	Chartered Accountants
	Richmond House
	Walkern Road
	Stevenage
	Hertfordshire
	SG1 3QP


WALLACE FAMILY INVESTMENT CO. LIMITED

CONTENTS

	Page
Statement of Financial Position	1 - 2
Notes to the Financial Statements	3 - 5


WALLACE FAMILY INVESTMENT CO. LIMITED REGISTERED NUMBER:11137409

STATEMENT OF FINANCIAL POSITION

AS AT 31 MARCH 2025

		2025		2024
Note		£		£

Fixed assets
Investments	4		6,235,580		6,072,290
			6,235,580		6,072,290
Current assets
Debtors: amounts falling due within one year		120,838		-
Bank and cash balances		182,003		540,649
		302,841		540,649
Creditors: amounts falling due within one year	6	(5,923,329)		(5,871,103)
Net current liabilities			(5,620,488)		(5,330,454)
Total assets less current liabilities			615,092		741,836
Provisions for liabilities
Deferred tax		(218,588)		(150,350)
			(218,588)		(150,350)
Net assets			396,504		591,486

Capital and reserves
Called up share capital	1,100	1,100
Profit and loss account	395,404	590,386
	396,504	591,486

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WALLACE FAMILY INVESTMENT CO. LIMITED REGISTERED NUMBER:11137409

STATEMENT OF FINANCIAL POSITION (CONTINUED)

AS AT 31 MARCH 2025

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by:

................................................

P O Wallace

Director

Date: 28 November 2025

The notes on pages 3 to 5 form part of these financial statements.

Page 2


WALLACE FAMILY INVESTMENT CO. LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

1.	General information

Wallace Family Investment Co. 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 presentation currency of the financial statements is the Pound Sterling (£).

2.Accounting policies

2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. 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 following principal accounting policies have been applied:

2.2

Going concern

The shareholders have undertaken to continue their financial support of the company for the foreseeable future. On this basis they believe it is appropriate to prepare these accounts on a going concern basis.

2.3

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

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WALLACE FAMILY INVESTMENT CO. LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

2.Accounting policies (continued)

2.4

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:

∙The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and

∙Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

2.5

Valuation of investments

Investments in listed company shares are remeasured to market value at each reporting date. Gains and losses on remeasurement are recognised in profit or loss for the period.

2.6

Financial instruments

Financial instruments are recognised in the Company's Statement of Financial Position when the Company becomes party to the contractual provisions of the instrument.

Employees

The average monthly number of employees, including directors, during the year was 2 (2024 - 2).

Page 4


WALLACE FAMILY INVESTMENT CO. LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

4.	Fixed asset investments

		Other investments
		£
	Cost or valuation
	At 1 April 2024	6,072,290
	Additions	3,827,595
	Disposals	(918,629)
	Revaluations	(2,745,676)
	At 31 March 2025	6,235,580

Debtors

					2025	2024
					£	£


Other debtors	120,838	-
	120,838	-

6.	Creditors: Amounts falling due within one year
		2025	2024
		£	£

Corporation tax	64,321	12,155
Other creditors	5,856,128	5,856,128
Accruals and deferred income	2,880	2,820
	5,923,329	5,871,103

7.	Loans to participators
	At the balance sheet date the company owed £5,856,128 (2024: £5,856,128) to individuals with a participating interest. The balance can be found within creditors due within one year. No interest is being charged on this loan.

Page 5