Todaywise Limited - Accounts to registrar (filleted) - small 18.2
Todaywise Limited - Accounts to registrar (filleted) - small 18.2
| REGISTERED NUMBER: |
| FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 30 SEPTEMBER 2018 |
| FOR |
| TODAYWISE LIMITED |
| TODAYWISE LIMITED (REGISTERED NUMBER: 02807988) |
| CONTENTS OF THE FINANCIAL STATEMENTS |
| for the Year Ended 30 September 2018 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 3 |
| TODAYWISE LIMITED |
| COMPANY INFORMATION |
| for the Year Ended 30 September 2018 |
| DIRECTORS: |
| SECRETARY: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| AUDITORS: |
| Chartered Accountants |
| Statutory Auditor |
| Unit 8 Oak Spinney Park |
| Ratby Lane |
| Leicester Forest East |
| Leicester |
| LE3 3AW |
| TODAYWISE LIMITED (REGISTERED NUMBER: 02807988) |
| BALANCE SHEET |
| 30 September 2018 |
| 2018 | 2017 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Intangible assets | 4 |
| Tangible assets | 5 |
| CURRENT ASSETS |
| Debtors | 6 |
| Cash at bank and in hand |
| CREDITORS |
| Amounts falling due within one year | 7 |
| NET CURRENT (LIABILITIES)/ASSETS | ( |
) |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year | 8 | ( |
) | ( |
) |
| PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital |
| Retained earnings |
| SHAREHOLDERS' FUNDS |
| 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 on |
| TODAYWISE LIMITED (REGISTERED NUMBER: 02807988) |
| NOTES TO THE FINANCIAL STATEMENTS |
| for the Year Ended 30 September 2018 |
| 1. | STATUTORY INFORMATION |
| Todaywise Limited is a |
| number and registered office address can be found on the Company Information page. |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| Going concern |
| The company has net current liabilities of £268,212 and net assets of £676,300 as at 30 September 2018. The directors |
| have reviewed the financial projections and working capital requirements of the company for 12 months from the date |
| these financial statements are approved and are satisfied that the company can meet its liabilities as they fall due. |
| Therefore it is considered appropriate to prepare the company's financial statements on a going concern basis. |
| Turnover |
| Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value |
| added tax and other sales taxes. The following criteria must also be met before revenue is recognised: |
| Rendering of services |
| Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance |
| with the stage of completion of the contract when all of the following conditions are satisfied: |
| - the amount of revenue can be measured reliably; |
| - it is probable that the Company will receive the consideration due under the contract; |
| - the stage of completion of the contract at the end of the reporting period can be measured reliably; and |
| - the costs incurred and the costs to complete the contract can be measured reliably. |
| Interest income |
| Interest income is recognised in profit or loss using the effective interest method. |
| Goodwill |
| Acquired goodwill is written off in equal instalments over its estimated useful economic life. |
| Intangible assets |
| Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any |
| accumulated amortisation and any accumulated impairment losses. |
| Tangible fixed assets |
| Tangible fixed assets are stated at historical cost less accumulated depreciation and any accumulated impairment losses. |
| Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary |
| for it to be capable of operating in the manner intended by management. |
| Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using |
| either a straight line or reducing balance method, as indicated below. |
| Depreciation is provided on the following basis: |
| Freehold property | - | 2% Straight line |
| Plant and machinery | - | 25% Straight line |
| Fixtures and fittings | - | 25% Reducing balance |
| The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, |
| or if there is an indication of a significant change since the last reporting date. |
| Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in |
| profit or loss. |
| TODAYWISE LIMITED (REGISTERED NUMBER: 02807988) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| for the Year Ended 30 September 2018 |
| 2. | ACCOUNTING POLICIES - continued |
| Taxation |
| The tax expense for the year comprises current and deferred tax. |
| Tax is recognised in profit or loss except that a change 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. |
| Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the |
| Balance Sheet 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. |
| Both current and deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by |
| the balance sheet date. |
| 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 |
| The company contributes to a defined contribution pension plan for the benefit of its employees. Contributions are |
| recognised in profit or loss as they become payable. |
| Debtors |
| Basic financial assets, including trade and other debtors, are initially recognised at transaction price, unless the |
| arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future |
| receipts discounted at a market rate of interest. Such assets are subsequently carried at amortised cost using the effective |
| interest method, less any impairment. |
| Creditors |
| Basic financial liabilities, including trade and other creditors, loans from third parties and loans from related parties, are |
| initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt |
| instrument is measured at the present value of the future payments discounted at a market rate of interest. Such |
| instruments are subsequently carried at amortised cost using the effective interest method, less any impairment. |
| Cash and cash equivalents |
| Cash and cash equivalents are represented by cash in hand, deposits held at call with financial institutions, and other |
| short-term highly liquid investments that mature in no more than three months from the date of acquisition and that are |
| readily convertible to known amounts of cash with insignificant risk of change in value. |
| Financial Instruments |
| The Company only enters into basic financial instruments transactions that result in the recognition of financial assets and |
| liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and |
| investments in non-puttable ordinary shares. |
| Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective |
| evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in profit or loss. |
| Financial assets and liabilities are offset and the net amount reported in the Balance Sheet when there is an enforceable |
| right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the |
| liability simultaneously. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| TODAYWISE LIMITED (REGISTERED NUMBER: 02807988) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| for the Year Ended 30 September 2018 |
| 4. | INTANGIBLE FIXED ASSETS |
| Goodwill |
| £ |
| COST |
| At 1 October 2017 |
| and 30 September 2018 |
| AMORTISATION |
| At 1 October 2017 |
| and 30 September 2018 |
| NET BOOK VALUE |
| At 30 September 2018 |
| At 30 September 2017 |
| 5. | TANGIBLE FIXED ASSETS |
| Fixtures |
| Freehold | Plant and | and |
| property | machinery | fittings | Totals |
| £ | £ | £ | £ |
| COST |
| At 1 October 2017 |
| Additions |
| At 30 September 2018 |
| DEPRECIATION |
| At 1 October 2017 |
| Charge for year |
| At 30 September 2018 |
| NET BOOK VALUE |
| At 30 September 2018 |
| At 30 September 2017 |
| 6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2018 | 2017 |
| £ | £ |
| Trade debtors |
| Amounts owed by group undertakings |
| Prepayments |
| TODAYWISE LIMITED (REGISTERED NUMBER: 02807988) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| for the Year Ended 30 September 2018 |
| 7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2018 | 2017 |
| £ | £ |
| Bank loans and overdrafts |
| Trade creditors |
| Amounts owed to group undertakings |
| Tax |
| Social security and other taxes |
| Wages control | 39,893 | - |
| Other creditors |
| Directors' current accounts | 1,268 | 821 |
| Accruals and deferred income |
| The bank loan is secured by a legal mortgage and fixed charge over the company's freehold property. |
| 8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 2018 | 2017 |
| £ | £ |
| Bank loans - 1-2 years |
| Bank loans - 2-5 years |
| Bank loans in over 5 years |
| Amounts falling due in more than five years: |
| Repayable by instalments |
| Bank loans in over 5 years | 170,058 | 500,269 |
| 9. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
| The Report of the Auditors was unqualified. |
| for and on behalf of |
| 10. | RELATED PARTY DISCLOSURES |
| The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial |
| Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly |
| owned subsidiaries within the group. |