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Registered number: 00747980
Wally Mays (Contractors) Limited
Unaudited Financial Statements
For The Year Ended 31 March 2026
Harris Lacey and Swain
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 00747980
2026 2025
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 22,583 37,541
22,583 37,541
CURRENT ASSETS
Stocks 5 2,047 2,315
Debtors 6 193,694 100,002
Cash at bank and in hand 230,999 273,841
426,740 376,158
Creditors: Amounts Falling Due Within One Year 7 (213,385 ) (194,107 )
NET CURRENT ASSETS (LIABILITIES) 213,355 182,051
TOTAL ASSETS LESS CURRENT LIABILITIES 235,938 219,592
PROVISIONS FOR LIABILITIES
Deferred Taxation (5,646 ) (9,385 )
NET ASSETS 230,292 210,207
CAPITAL AND RESERVES
Called up share capital 8 5,000 5,000
Profit and Loss Account 225,292 205,207
SHAREHOLDERS' FUNDS 230,292 210,207
Page 1
Page 2
For the year ending 31 March 2026 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 directors acknowledge their 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.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr M P Cooper
Director
08/07/2026
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Wally Mays (Contractors) Limited is a private company, limited by shares, incorporated in England & Wales, registered number 00747980 . The registered office is Unit 6 Hamburg Technical Park, Hamburg Road, Sutton Field Industrial Estate, Kingston Upon Hull, East Yorkshire, HU7 0WD.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Significant judgements and estimations
Estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. Although these estimates are based on the Directors’ best knowledge of the amount, events or actions, actual results ultimately differ from these estimates. The Directors do not consider there to be any material estimates and judgements.
2.3. Turnover
Turnover represents the fair value of work completed during the financial year, measured in accordance with the stage of completion of each contract. Revenue is recognised when the outcome of a contract can be reliably estimated, and is stated net of VAT and trade discounts.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 20% on cost
Motor Vehicles 20% on cost
Fixtures & Fittings 25% on reducing balance
Computer Equipment 20% on cost
2.5. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
2.6. Financial Instruments
The company only has financial assets and financial liabilities of a kind that qualify as basic financial instruments.
Basic financial instruments, including trade and other debtors and creditors are initially recognised at transaction
value and subsequently measure at their settlement value.
2.7. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and 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 end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
...CONTINUED
Page 3
Page 4
2.7. Taxation - continued
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 16 (2025: 16)
16 16
4. Tangible Assets
Land & Property
Freehold Plant & Machinery Motor Vehicles Fixtures & Fittings
£ £ £ £
Cost
As at 1 April 2025 2,900 69,406 168,937 20,460
Additions - - - -
As at 31 March 2026 2,900 69,406 168,937 20,460
Depreciation
As at 1 April 2025 2,900 66,407 141,387 20,338
Provided during the period - 1,605 10,001 31
As at 31 March 2026 2,900 68,012 151,388 20,369
Net Book Value
As at 31 March 2026 - 1,394 17,549 91
As at 1 April 2025 - 2,999 27,550 122
Computer Equipment Total
£ £
Cost
As at 1 April 2025 62,138 323,841
Additions 210 210
As at 31 March 2026 62,348 324,051
Depreciation
As at 1 April 2025 55,268 286,300
Provided during the period 3,531 15,168
As at 31 March 2026 58,799 301,468
Net Book Value
As at 31 March 2026 3,549 22,583
As at 1 April 2025 6,870 37,541
Page 4
Page 5
5. Stocks
2026 2025
£ £
Stock 2,047 2,315
6. Debtors
2026 2025
£ £
Due within one year
Trade debtors 173,122 84,418
Other debtors 20,572 15,584
193,694 100,002
7. Creditors: Amounts Falling Due Within One Year
2026 2025
£ £
Trade creditors 87,574 59,759
Other creditors 54,902 71,013
Taxation and social security 70,909 63,335
213,385 194,107
8. Share Capital
2026 2025
£ £
Allotted, Called up and fully paid 5,000 5,000
Page 5