Wise Energy Solutions Ltd - Accounts to registrar (filleted) - small 23.1.2
Wise Energy Solutions Ltd - Accounts to registrar (filleted) - small 23.1.2
| REGISTERED NUMBER: |
| UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2022 |
| FOR |
| WISE ENERGY SOLUTIONS LTD |
| WISE ENERGY SOLUTIONS LTD (REGISTERED NUMBER: 08264223) |
| CONTENTS OF THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 AUGUST 2022 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 4 |
| WISE ENERGY SOLUTIONS LTD |
| COMPANY INFORMATION |
| FOR THE YEAR ENDED 31 AUGUST 2022 |
| DIRECTORS: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Chandler House |
| 7 Ferry Road Office Park |
| Riversway |
| Preston |
| Lancashire |
| PR2 2YH |
| WISE ENERGY SOLUTIONS LTD (REGISTERED NUMBER: 08264223) |
| BALANCE SHEET |
| 31 AUGUST 2022 |
| 31/8/22 | 31/8/21 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Tangible assets | 4 |
| CURRENT ASSETS |
| Debtors | 5 |
| Cash at bank and in hand |
| CREDITORS |
| Amounts falling due within one year | 6 |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year |
7 |
( |
) |
( |
) |
| PROVISIONS FOR LIABILITIES | ( |
) |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital | 9 |
| Retained earnings |
| SHAREHOLDERS' FUNDS |
| 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. |
| WISE ENERGY SOLUTIONS LTD (REGISTERED NUMBER: 08264223) |
| BALANCE SHEET - continued |
| 31 AUGUST 2022 |
| 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 |
| WISE ENERGY SOLUTIONS LTD (REGISTERED NUMBER: 08264223) |
| NOTES TO THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 AUGUST 2022 |
| 1. | STATUTORY INFORMATION |
| Wise Energy Solutions Ltd is a |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| 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 |
| Tangible fixed assets are stated at cost less accumulated depreciation and any provision for impairment in value. |
| Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter. |
| Improvements to property | 10% on cost |
| Plant and machinery | 33% on cost |
| Fixtures and fittings | 25% on cost |
| Motor vehicles | 25% on cost |
| Computer equipment | 33% on cost |
| 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. |
| 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. |
| Going concern |
| The directors have a reasonable expectation that the company possesses sufficient resources to continue in operational existence for the foreseeable future. Thus, the going concern policy of accounting has been adopted in preparing the annual financial statements. |
| WISE ENERGY SOLUTIONS LTD (REGISTERED NUMBER: 08264223) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 AUGUST 2022 |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| 4. | TANGIBLE FIXED ASSETS |
| Improvements | Fixtures |
| to | Plant and | and |
| property | machinery | fittings |
| £ | £ | £ |
| COST |
| At 1 September 2021 |
| Additions |
| Disposals | ( |
) |
| At 31 August 2022 |
| DEPRECIATION |
| At 1 September 2021 |
| Charge for year |
| Eliminated on disposal | ( |
) |
| At 31 August 2022 |
| NET BOOK VALUE |
| At 31 August 2022 |
| At 31 August 2021 |
| Motor | Computer |
| vehicles | equipment | Totals |
| £ | £ | £ |
| COST |
| At 1 September 2021 |
| Additions |
| Disposals | ( |
) | ( |
) |
| At 31 August 2022 |
| DEPRECIATION |
| At 1 September 2021 |
| Charge for year |
| Eliminated on disposal | ( |
) | ( |
) |
| At 31 August 2022 |
| NET BOOK VALUE |
| At 31 August 2022 |
| At 31 August 2021 |
| WISE ENERGY SOLUTIONS LTD (REGISTERED NUMBER: 08264223) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 AUGUST 2022 |
| 5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 31/8/22 | 31/8/21 |
| £ | £ |
| Trade debtors |
| Amounts owed by group undertakings |
| Other debtors |
| Deferred tax asset | 57,886 | - |
| Tax |
| VAT |
| Prepayments and accrued income |
| 6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 31/8/22 | 31/8/21 |
| £ | £ |
| Bank loans and overdrafts (see note 8) |
| Trade creditors |
| Social security and other taxes |
| Other creditors |
| Directors' current accounts | 233,000 | 40,000 |
| Accrued expenses |
| 7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 31/8/22 | 31/8/21 |
| £ | £ |
| Bank loans (see note 8) |
| 8. | LOANS |
| An analysis of the maturity of loans is given below: |
| 31/8/22 | 31/8/21 |
| £ | £ |
| Amounts falling due within one year or on demand: |
| Bank loans |
| Amounts falling due between one and two years: |
| Bank loans - 1-2 years |
| Amounts falling due between two and five years: |
| Bank loans - 2-5 years |
| 9. | CALLED UP SHARE CAPITAL |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 31/8/22 | 31/8/21 |
| value: | £ | £ |
| Ordinary | £1 | 2 | 2 |
| WISE ENERGY SOLUTIONS LTD (REGISTERED NUMBER: 08264223) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 AUGUST 2022 |
| 10. | RELATED PARTY DISCLOSURES |
| GDES (UK) Limited owns 50% of the share capital in Wise Energy Solutions Limited. |
| At 31 August 2022, included within debtors was a balance due to the company from GDES (UK) Limited of £1,432,064 (2021: £1,416,342). No interest was charged on this loan. |