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

REGISTERED NUMBER: 02800889 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2022

FOR

WISEMONEY LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

M R Kinch

Mrs J A Kinch

A R Kinch

Mrs J S Kinch

SECRETARY:

Mrs J S Kinch

REGISTERED OFFICE:

25 St Thomas Street

Winchester

Hampshire

SO23 9HJ

REGISTERED NUMBER:

02800889 (England and Wales)

ACCOUNTANTS:

Martin and Company

25 St Thomas Street

Winchester

Hampshire

SO23 9HJ

FIXED ASSETS

Tangible assets

4

987,382

988,691

CURRENT ASSETS

Stocks

665

43,489

Debtors

5

34,552

30,615

Cash at bank and in hand

63,256

47,216

98,473

121,320

CREDITORS

Amounts falling due within one year

6

229,262

222,121

NET CURRENT LIABILITIES

(130,789

)

(100,801

)

TOTAL ASSETS LESS CURRENT LIABILITIES

856,593

887,890

CREDITORS

Amounts falling due after more than one year

7

(280,382

)

(305,522

)

PROVISIONS FOR LIABILITIES

(667

)

(667

)

NET ASSETS

575,544

581,701

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

575,444

581,601

SHAREHOLDERS' FUNDS

575,544

581,701

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2022 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 28 October 2022 and were signed on its behalf by:

Mrs J S Kinch - Director

1.	STATUTORY INFORMATION

Wisemoney 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 as modified by the revaluation of certain assets.

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.

Improvements to property

-

10% on cost

Plant and machinery

-

15% on reducing balance

Fixtures and fittings

-

15% on reducing balance

Computer equipment

-

15% on reducing balance

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 Statement of Income and Retained Earnings, 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.

Investment properties

Investment property is shown at the most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit of loss.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2021 - 3 ) .

4.	TANGIBLE FIXED ASSETS

Improvements

Freehold

to

Plant and

property

property

machinery

£

£

£

COST OR VALUATION

At 1 February 2021

and 31 January 2022

984,093

8,331

975

DEPRECIATION

At 1 February 2021

-

7,605

607

Charge for year

-

726

55

At 31 January 2022

-

8,331

662

NET BOOK VALUE

At 31 January 2022

984,093

-

313

At 31 January 2021

984,093

726

368

Fixtures

and

Computer

fittings

equipment

Totals

£

£

£

COST OR VALUATION

At 1 February 2021

and 31 January 2022

15,050

4,916

1,013,365

DEPRECIATION

At 1 February 2021

14,196

2,266

24,674

Charge for year

129

399

1,309

At 31 January 2022

14,325

2,665

25,983

NET BOOK VALUE

At 31 January 2022

725

2,251

987,382

At 31 January 2021

854

2,650

988,691

Cost or valuation at 31 January 2022 is represented by:

Improvements

Freehold

to

Plant and

property

property

machinery

£

£

£

Valuation in 2014

(22,624

)

-

-

Cost

1,006,717

8,331

975

984,093

8,331

975

Fixtures

and

Computer

fittings

equipment

Totals

£

£

£

Valuation in 2014

-

-

(22,624

)

Cost

15,050

4,916

1,035,989

15,050

4,916

1,013,365

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.1.22

31.1.21

£

£

Trade debtors

13,111

10,380

Other debtors

15,624

15,624

VAT

2,284

1,226

Prepayments and accrued income

3,533

3,385

34,552

30,615

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.1.22

31.1.21

£

£

Bank loans and overdrafts

27,787

26,517

Trade creditors

13,102

3,475

Tax

-

2,508

Social security and other taxes

349

825

Directors' current accounts

176,806

177,233

Accruals and deferred income

11,218

11,563

229,262

222,121

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.1.22

31.1.21

£

£

Bank loans - 1-2 years

30,197

28,389

Bank loans - 2-5 years

102,927

96,606

Bank loans more 5 yr by instal

97,258

130,527

Directors' loan accounts

50,000

50,000

280,382

305,522

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

97,258

130,527

8.	SECURED DEBTS

The following secured debts are included within creditors:

31.1.22

31.1.21

£

£

Bank loans

258,169

282,039

The bank loans are secured by the company's freehold properties.