REGISTERED NUMBER: 06060119 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2026

FOR

WALLACE DRIVING ACADEMY LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

R Wallace

SECRETARY:

Mrs N Wallace

REGISTERED OFFICE:

61 Station Road

Sudbruy

Suffolk

CO10 2SP

REGISTERED NUMBER:

06060119 (England and Wales)

ACCOUNTANTS:

Seago and Stopps

Chartered Certified Accountants

61 Station Road

Sudbury

Suffolk

CO10 2SP

FIXED ASSETS

43,953

Tangible assets

4

32,963

CURRENT ASSETS

2,315

Debtors

5

12,519

4,534

Cash at bank

2,790

6,849

15,309

CREDITORS

11,906

Amounts falling due within one year

6

19,277

(5,057

)

NET CURRENT LIABILITIES

(3,968

)

38,896

TOTAL ASSETS LESS CURRENT LIABILITIES

28,995

CREDITORS

(30,426

)

Amounts falling due after more than one year

7

(22,326

)

(8,351

)

PROVISIONS FOR LIABILITIES

(6,263

)

119

NET ASSETS

406

CAPITAL AND RESERVES

100

Called up share capital

100

19

Retained earnings

306

119

SHAREHOLDERS' FUNDS

406

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2026.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2026 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 director and authorised for issue on 25 June 2026 and were signed by:

R Wallace - Director

1.	STATUTORY INFORMATION

Wallace Driving Academy 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

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 represents the amounts received during the year in respect of driving tuition given to pupils.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Computer equipment - 25% reducing balance

Motor vehicles - 25% reducing balance

Financial instruments

The company enters into basic financial instrument transactions, as appropriate and as and when required, that result in the recognition of financial assets and liabilities within the financial statements such as trade and other accounts receivable and payable, bank loans and hire purchase and leasing contracts.

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.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Financial instruments

The company enters into basic financial instrument transactions, as appropriate and as and when required, that result in the recognition of financial assets and liabilities within the financial statements such as trade and other accounts receivable and payable, bank loans and hire purchase and lease contracts.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2025 - 1 ).

4.	TANGIBLE FIXED ASSETS

Motor

Computer

Totals

vehicles

equipment

£

£

£

COST

At 1 April 2025

and 31 March 2026

60,442

55,282

5,160

DEPRECIATION

At 1 April 2025

16,489

13,821

2,668

Charge for year

10,990

10,366

624

At 31 March 2026

27,479

24,187

3,292

NET BOOK VALUE

At 31 March 2026

32,963

31,095

1,868

At 31 March 2025

43,953

41,461

2,492

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.26

31.3.25

£

£

Other debtors

12,519

2,315

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.26

31.3.25

£

£

Hire purchase contracts

8,163

8,226

Taxation and social security

8,740

1,461

Other creditors

2,374

2,219

19,277

11,906

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.3.26

31.3.25

£

£

Hire purchase contracts

22,326

30,426

8.	SECURED DEBTS

The following secured debts are included within creditors:

31.3.26

31.3.25

£

£

Hire purchase contracts

30,489

38,652

Liabilities generated under hire purchase contracts are secured against the asset upon which the liability was originally created.