REGISTERED NUMBER: 06043556 (England and Wales)

S WALLACE DEVELOPMENTS LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2025

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

Mr S J Wallace

SECRETARY:

Ms D A Wallace

REGISTERED OFFICE:

113 Darnick Road

Sutton Coldfield

West Midlands

B73 6PG

REGISTERED NUMBER:

06043556 (England and Wales)

ACCOUNTANTS:

Shah & Co (Accountants) Ltd

Chartered Certified Accountants

Cash's Business Centre

1st Floor

228 Widdrington Road

Coventry

West Midlands

CV1 4PB

FIXED ASSETS

Tangible assets

4

12,380

16,507

CURRENT ASSETS

Stocks

94,785

96,755

Debtors

5

69,317

69,866

Cash at bank

128,511

137,116

292,613

303,737

CREDITORS

Amounts falling due within one year

6

(259,566

)

(247,395

)

NET CURRENT ASSETS

33,047

56,342

TOTAL ASSETS LESS CURRENT LIABILITIES

45,427

72,849

CREDITORS

Amounts falling due after more than one year

7

(6,409

)

(9,753

)

NET ASSETS

39,018

63,096

CAPITAL AND RESERVES

Called up share capital

900

900

Retained earnings

38,118

62,196

39,018

63,096

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2025 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 20 November 2025 and were signed by:

Mr S J Wallace - Director

1.	STATUTORY INFORMATION

S Wallace Developments 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.

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.

Stocks

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

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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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 4 (2024 - 4 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

machinery

fittings

Totals

£

£

£

COST

At 1 June 2024

and 31 May 2025

26,436

3,474

29,910

DEPRECIATION

At 1 June 2024

10,115

3,288

13,403

Charge for year

4,080

47

4,127

At 31 May 2025

14,195

3,335

17,530

NET BOOK VALUE

At 31 May 2025

12,241

139

12,380

At 31 May 2024

16,321

186

16,507

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.5.25

31.5.24

£

£

Trade debtors

67,317

67,866

Other debtors

2,000

2,000

69,317

69,866

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.5.25

31.5.24

£

£

Trade creditors

43,610

63,262

Taxation and social security

41,243

29,434

Other creditors

174,713

154,699

259,566

247,395

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.5.25

31.5.24

£

£

Hire purchase contracts

6,409

9,753

8.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

Included within the creditors , the amount owed to the director is £100,912 (2024: £80,648).The loans are interest free and with no fixed date of repayment.

9.	RELATED PARTY DISCLOSURES

During the year, total dividends of £20,000 were paid to the director .

10.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Mr S J Wallace.