Wisdom Social Enterprise Ltd. - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 10609434 (England and Wales)

Report of the Directors and

Unaudited Financial Statements for the Year Ended 28 February 2019

for

Wisdom Social Enterprise Ltd.

Page

Company Information

1

Report of the Directors

2

Balance Sheet

3

Notes to the Financial Statements

4

DIRECTORS:

Mrs Ruphina Folayemi Adesan

Mr Adejimi Adewale Adesan

REGISTERED OFFICE:

99A Manor Road

Dagenham

Essex

RM10 8BE

REGISTERED NUMBER:

10609434 (England and Wales)

ACCOUNTANTS:

Krypton Consulting Ltd

Chartered Certified Accountants &

Advisory Services

Navigation House, Unit 6

Town Quay Wharf

Abbey Road

Barking

Essex

IG11 7BZ

The directors present their report with the financial statements of the company for the year ended 28 February 2019.

PRINCIPAL ACTIVITY

The principal activity of the company in the year under review was that of Activities of religious and Charitable

organizations

DIRECTORS

The directors shown below have held office during the whole of the period from 1 March 2018 to the date of this report.

Mrs Ruphina Folayemi Adesan

Mr Adejimi Adewale Adesan

This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small

companies.

ON BEHALF OF THE BOARD:

Mrs Ruphina Folayemi Adesan - Director

27 November 2019

FIXED ASSETS

Tangible assets

4

2,248

-

CURRENT ASSETS

Debtors

5

727

-

Cash at bank

371

710

1,098

710

CREDITORS

Amounts falling due within one year

6

4,494

250

NET CURRENT (LIABILITIES)/ASSETS

(3,396

)

460

TOTAL ASSETS LESS CURRENT LIABILITIES

(1,148

)

460

RESERVES

Income and expenditure account

7

(1,148

)

460

(1,148

)

460

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 2019 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 surplus or deficit 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 on 27 November 2019 and were signed on its behalf by:

Mrs Ruphina Folayemi Adesan - Director

1.	STATUTORY INFORMATION

Wisdom Social Enterprise Ltd. is a private company, limited by guarantee , 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.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2018 - NIL).

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

Additions

2,997

At 28 February 2019

2,997

DEPRECIATION

Charge for year

749

At 28 February 2019

749

NET BOOK VALUE

At 28 February 2019

2,248

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

28.2.19

28.2.18

£

£

Trade debtors

727

-

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

28.2.19

28.2.18

£

£

Trade creditors

4,494

250

7.

RESERVES

Income

and

expenditure

account

£

At 1 March 2018

460

Deficit for the year

(1,608

)

At 28 February 2019

(1,148

)