Wise Guys Ltd. - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 03906273 (England and Wales)

Financial Statements

for the Year Ended 30 April 2018

for

WISE GUYS LTD.

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

K Guy

SECRETARY:

T Paddenburg

REGISTERED OFFICE:

100 Church Street

Brighton

East Sussex

BN1 1UJ

REGISTERED NUMBER:

03906273 (England and Wales)

ACCOUNTANTS:

Paddenburg & Co Limited

100 Church Street

Brighton

East Sussex

BN1 1UJ

FIXED ASSETS

Tangible assets

4

4,091

1,056

CURRENT ASSETS

Debtors

5

8,804

14,722

Cash at bank

1,568

46,281

10,372

61,003

CREDITORS

Amounts falling due within one year

6

7,484

47,613

NET CURRENT ASSETS

2,888

13,390

TOTAL ASSETS LESS CURRENT LIABILITIES

6,979

14,446

PROVISIONS FOR LIABILITIES

7

414

-

NET ASSETS

6,565

14,446

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

6,465

14,346

SHAREHOLDERS' FUNDS

6,565

14,446

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2018 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director on 6 January 2019 and were signed by:

K Guy - Director

1.	STATUTORY INFORMATION

Wise Guys Ltd. 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 the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" 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.

Fixtures and fittings

-

15% on reducing balance

Computer equipment

-

25% on reducing balance

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.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at

the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of

exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at

the operating result.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2017 - 1 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

and

Computer

fittings

equipment

Totals

£

£

£

COST

At 1 May 2017

4,137

3,228

7,365

Additions

-

4,105

4,105

At 30 April 2018

4,137

7,333

11,470

DEPRECIATION

At 1 May 2017

3,804

2,505

6,309

Charge for year

50

1,020

1,070

At 30 April 2018

3,854

3,525

7,379

NET BOOK VALUE

At 30 April 2018

283

3,808

4,091

At 30 April 2017

333

723

1,056

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Trade debtors

8,505

14,349

VAT

74

173

Prepayments

225

200

8,804

14,722

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Corporation tax

918

7,146

Other creditors

2,500

1,985

Directors' loan accounts

3,246

37,382

Accrued expenses

820

1,100

7,484

47,613

7.	PROVISIONS FOR LIABILITIES

2018

2017

£

£

Deferred taxation

414

-

Deferred

tax

£

Accelerated capital allowances

414

Balance at 30 April 2018

414

8.	ULTIMATE CONTROLLING PARTY

The company is controlled by K Guy, its sole director and the holder of 80% of the share capital.