Wallace Allan Limited - Accounts to registrar (filleted)

REGISTERED NUMBER: SC033131 (Scotland)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2026

FOR

WALLACE ALLAN LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

W G Allan

I Allan

SECRETARY:

Mrs K Allan

REGISTERED OFFICE:

4 Newmarket Street

Ayr

Ayrshire

KA7 1LJ

REGISTERED NUMBER:

SC033131 (Scotland)

ACCOUNTANTS:

Galbraith Pritchards

Chartered Accountants

20 Barns Street

Ayr

Ayrshire

KA7 1XA

BANKERS:

Clydesdale Bank plc

43 Alloway Street

Ayr

Ayrshire

KA7 1SP

FIXED ASSETS

Tangible assets

4

394,543

388,889

Investment property

5

145,000

539,543

533,889

CURRENT ASSETS

Stocks

1,140,000

1,210,000

Debtors

6

-

1,617

Cash at bank and in hand

3,613

389

1,143,613

1,212,006

CREDITORS

Amounts falling due within one year

7

961,059

1,076,225

NET CURRENT ASSETS

182,554

135,781

TOTAL ASSETS LESS CURRENT
LIABILITIES

722,097

669,670

CAPITAL AND RESERVES

Called up share capital

22,000

Revaluation reserve

9

49,391

Retained earnings

650,706

598,279

SHAREHOLDERS' FUNDS

722,097

669,670

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2026 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 28 October 2026 and were signed on its behalf by:

W G Allan - Director

1.	STATUTORY INFORMATION

Wallace Allan Limited is a private company, limited by shares , registered in Scotland. 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

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

Plant and machinery

-

15% on reducing balance

Fixtures and fittings

-

15% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

33% on cost

INVESTMENT PROPERTY

Investment property is included at fair value. Gains are recognised in the income statement.

STOCKS

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

FINANCIAL INSTRUMENTS

The company only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value.

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.

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 year 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 company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 9 (2025 - 9 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Freehold

Plant and

and

property

machinery

fittings

£

COST

At 1 February 2025

328,349

48,979

180,334

Additions

-

Disposals

-

At 31 January 2026

328,349

48,979

180,334

DEPRECIATION

At 1 February 2025

-

47,328

178,967

Charge for year

-

330

274

Eliminated on disposal

-

At 31 January 2026

-

47,658

179,241

NET BOOK VALUE

At 31 January 2026

328,349

1,321

1,093

At 31 January 2025

328,349

1,651

1,367

Motor

Computer

vehicles

equipment

Totals

£

COST

At 1 February 2025

87,921

88,154

733,737

Additions

28,270

-

28,270

Disposals

(20,584

)

-

(20,584

)

At 31 January 2026

95,607

88,154

741,423

DEPRECIATION

At 1 February 2025

30,399

88,154

344,848

Charge for year

14,735

-

15,339

Eliminated on disposal

(13,307

)

-

(13,307

)

At 31 January 2026

31,827

88,154

346,880

NET BOOK VALUE

At 31 January 2026

63,780

-

394,543

At 31 January 2025

57,522

-

388,889

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 February 2025

and 31 January 2026

145,000

NET BOOK VALUE

At 31 January 2026

145,000

At 31 January 2025

145,000

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31/1/26

31/1/25

£

Other debtors

-

1,617

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31/1/26

31/1/25

£

Bank loans and overdrafts

-

22,956

Hire purchase contracts

49,135

33,814

Trade creditors

803,426

924,111

Taxation and social security

77,193

53,058

Other creditors

31,305

42,286

961,059

1,076,225

8.	SECURED DEBTS

The following secured debts are included within creditors:

31/1/26

31/1/25

£

Bank loans

-

16,419

Hire purchase contracts

49,135

33,814

49,135

50,233

9.

RESERVES

Revaluation

reserve

£

At 1 February 2025

and 31 January 2026

49,391

10.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is W G Allan.