Wiseton Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 13002999 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE PERIOD 6 NOVEMBER 2020 TO 30 NOVEMBER 2021

FOR

WISETON LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

Mr S P Bolland

Mr I J Raeburn

REGISTERED OFFICE:

305 Church Way

DONCASTER

South Yorkshire

DN1 2TB

REGISTERED NUMBER:

13002999 (England and Wales)

ACCOUNTANTS:

Rigel Wolf Ltd

Chartered Accountants

Orion House

28A Spital Terrace

GAINSBOROUGH

Lincolnshire

DN21 2HQ

FIXED ASSETS

Tangible assets

4

702,007

CURRENT ASSETS

Debtors

5

2,830

Cash at bank

54,750

57,580

CREDITORS

Amounts falling due within one year

6

969,801

NET CURRENT LIABILITIES

(912,221

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(210,214

)

CAPITAL AND RESERVES

Called up share capital

8

100

Retained earnings

9

(210,314

)

SHAREHOLDERS' FUNDS

(210,214

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 30 November 2021.

The members have not required the company to obtain an audit of its financial statements for the period ended 30 November 2021 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 4 August 2022 and were signed on its behalf by:

Mr S P Bolland - Director

1.	STATUTORY INFORMATION

Wiseton 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.

Freehold property

-

not provided

Plant and machinery

-

25% on reducing balance

Computer equipment

-

20% on reducing balance

Government grants

Government grants received relate to purchases of equipment and have been treated as income in the year of purchase.

Taxation

Taxation for the period 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 period 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.

Going concern

At 30 November 2021 the company had an excess of liabilities over assets of £210,214 and was technically insolvent.

The company is dependent upon the continued financial support of its directors, which has been confirmed as ongoing. The financial statements have therefore been prepared on the going concern basis.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the period was 2 .

4.	TANGIBLE FIXED ASSETS

Freehold

Plant and

Computer

property

machinery

equipment

Totals

£

£

£

£

COST

Additions

149,562

733,157

3,221

885,940

At 30 November 2021

149,562

733,157

3,221

885,940

DEPRECIATION

Charge for period

-

183,289

644

183,933

At 30 November 2021

-

183,289

644

183,933

NET BOOK VALUE

At 30 November 2021

149,562

549,868

2,577

702,007

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

£

VAT

2,830

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

£

Directors' current accounts

968,901

Accruals and deferred income

900

969,801

7.	PROVISIONS FOR LIABILITIES

Deferred

tax

£

Accelerated capital allowances

104,965

Tax losses

(104,965

)

Balance at 30 November 2021

-

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

value:

£

100

Ordinary

£1

100

100 Ordinary shares of £1 each were allotted and fully paid for cash at par during the period.

9.

RESERVES

Retained

earnings

£

Deficit for the period

(210,314

)

At 30 November 2021

(210,314

)

10.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

During the year the directors, Mr S P Bolland and Mr I J Raeburn, both charged the company £312 for use of homes as offices,

11.	RELATED PARTY DISCLOSURES

At 30 November 2021 the company owed the following amounts to the directors :-

Mr S Bolland - 50% shareholder - £483,639

Mr I Raeburn - 50% shareholder - £485,262

These amounts have been included in Creditors.

12.	ULTIMATE CONTROLLING PARTY

The ultimate control of the company lies with the two directors who each hold 50% of the issued share capital.