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Registered Number: 13143777
England and Wales

 

 

 

WIZMART LTD


Abridged Accounts
 


Period of accounts

Start date: 01 February 2022

End date: 31 January 2023
Report to the directors on the preparation of the unaudited statutory accounts of WIZMART LTD for the year ended 31 January 2023
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of WIZMART LTD for the year ended 31 January 2023 which comprise of the Profit and Loss Account, the Statement of Comprehensive Income, the Balance Sheet, the Statement of Changes in Equity and the related notes from the company’s accounting records and from information and explanations you have given to us.

As a practising member firm of the Institute of Financial Accountants (IFA), we are subject to its ethical and other professional requirements which are detailed at https://www.ifa.org.uk/about-us/acting-in-the-public-interest/memberregulations.

This report is made solely to the Board of Directors of WIZMART LTD, as a body, in accordance with the terms of our engagement letter dated 24 October 2023 . Our work has been undertaken solely to prepare for your approval the accounts of WIZMART LTD and state those matters that we have agreed to state to the Board of Directors of WIZMART LTD, as a body, in this report.To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than WIZMART LTD and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that WIZMART LTD has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit or loss of WIZMART LTD.You consider that WIZMART LTD is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit of the accounts of WIZMART LTD. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the financial statements 31 January 2023.



....................................................
MENTOR ACCOUNTING SERVICES LTD
Courier House
18 White Hart Road
SL1 2SF
24 October 2023
1
 
 
Notes
 
2023
£
  2022
£
Current assets      
Stocks 19,800   
Debtors   6,253 
Cash at bank and in hand 26,930    97,940 
46,730    104,193 
Creditors: amount falling due within one year (12,741)   (102,271)
Net current assets 33,989    1,922 
 
Total assets less current liabilities 33,989    1,922 
Provisions for liabilities (412)  
Net assets 33,577    1,922 
 

Capital and reserves
     
Called up share capital 1    1 
Profit and loss account 33,576    1,921 
Shareholder's funds 33,577    1,922 
 


For the year ended 31 January 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The director acknowledges their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of Part 15 of the Companies Act 2006. In accordance with Section 444 of the Companies Act 2006, the income statement has not been delivered to the Registrar of Companies.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with section 444(2A).
The financial statements were approved by the director on 24 October 2023 and were signed by:


-------------------------------
Asad Muhammad
Director
2
General Information
WIZMART LTD is a private company, limited by shares, registered in England and Wales, registration number 13143777, registration address 37 Eldon Road, Luton, Bedfordshire, LU4 0AZ.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 102 – The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the company.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted
Stocks
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
Provisions
Provisions are recognised when the company has a present obligation as a result of a past event which it is more probable than not will result in an outflow of economic benefits that can be reasonably estimated.
2.

Average number of employees

Average number of employees during the year was 0 (2022 : 0).
3