Caseware UK (AP4) 2022.0.179 2022.0.179 2023-03-312023-03-3102022-04-01falseNo description of principal activity0falsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 09188688 2022-04-01 2023-03-31 09188688 2021-04-01 2022-03-31 09188688 2023-03-31 09188688 2022-03-31 09188688 2021-04-01 09188688 c:Director3 2022-04-01 2023-03-31 09188688 d:CurrentFinancialInstruments 2023-03-31 09188688 d:CurrentFinancialInstruments 2022-03-31 09188688 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 09188688 d:CurrentFinancialInstruments d:WithinOneYear 2022-03-31 09188688 d:ShareCapital 2023-03-31 09188688 d:ShareCapital 2022-03-31 09188688 d:ShareCapital 2021-04-01 09188688 d:SharePremium 2023-03-31 09188688 d:SharePremium 2022-03-31 09188688 d:SharePremium 2021-04-01 09188688 d:RetainedEarningsAccumulatedLosses 2022-04-01 2023-03-31 09188688 d:RetainedEarningsAccumulatedLosses 2023-03-31 09188688 d:RetainedEarningsAccumulatedLosses 2021-04-01 2022-03-31 09188688 d:RetainedEarningsAccumulatedLosses 2022-03-31 09188688 d:RetainedEarningsAccumulatedLosses 2021-04-01 09188688 c:FRS102 2022-04-01 2023-03-31 09188688 c:AuditExempt-NoAccountantsReport 2022-04-01 2023-03-31 09188688 c:FullAccounts 2022-04-01 2023-03-31 09188688 c:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 09188688 6 2022-04-01 2023-03-31 iso4217:GBP xbrli:pure

Registered number: 09188688









WISE WOMEN OF TRAVEL LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MARCH 2023

 
WISE WOMEN OF TRAVEL LIMITED
REGISTERED NUMBER: 09188688

STATEMENT OF FINANCIAL POSITION
AS AT 31 MARCH 2023

2023
2022
Note
£
£

Fixed assets
  

Investments
 3 
585,000
585,000

  
585,000
585,000

Current assets
  

Cash at bank and in hand
 4 
2,896
50,694

  
2,896
50,694

Creditors: amounts falling due within one year
 5 
(141,254)
(140,475)

Net current liabilities
  
 
 
(138,358)
 
 
(89,781)

Total assets less current liabilities
  
446,642
495,219

  

Net assets
  
446,642
495,219


Capital and reserves
  

Called up share capital 
  
16
16

Share premium account
  
156,246
156,246

Profit and loss account
  
290,380
338,957

  
446,642
495,219


Page 1

 
WISE WOMEN OF TRAVEL LIMITED
REGISTERED NUMBER: 09188688
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 MARCH 2023

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 9 August 2023.




K R Hart
Director

The notes on pages 4 to 8 form part of these financial statements.

Page 2

 
WISE WOMEN OF TRAVEL LIMITED
 

STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 MARCH 2023


Called up share capital
Share premium account
Profit and loss account
Total equity

£
£
£
£


At 1 April 2021
16
156,246
341,522
497,784


Comprehensive income for the year

Loss for the year

-
-
(2,565)
(2,565)



At 1 April 2022
16
156,246
338,957
495,219


Comprehensive income for the year

Profit for the year

-
-
11,423
11,423


Contributions by and distributions to owners

Dividends: Equity capital
-
-
(60,000)
(60,000)


At 31 March 2023
16
156,246
290,380
446,642


The notes on pages 4 to 8 form part of these financial statements.

Page 3

 
WISE WOMEN OF TRAVEL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

1.


General information

Wise Women of Travel Limited is a private company limited by shares and incorporated in England. Its registered office is 51 Fortis Green Road, London, N10 3HP.    

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.3

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

Page 4

 
WISE WOMEN OF TRAVEL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

2.Accounting policies (continued)

 
2.4

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates income.

 
2.5

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

Investments in unlisted Company shares, whose market value can be reliably determined, are remeasured to market value at each reporting date. Gains and losses on remeasurement are recognised in the Statement of Comprehensive Income for the period. Where market value cannot be reliably determined, such investments are stated at historic cost less impairment.

Investments in listed company shares are remeasured to market value at each reporting date. Gains and losses on remeasurement are recognised in profit or loss for the period.

 
2.6

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.7

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Page 5

 
WISE WOMEN OF TRAVEL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

2.Accounting policies (continued)

 
2.8

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at present value of the future cash flows and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received. However, if the arrangements of a short-term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or in case of an out-right short-term loan that is not at market rate, the financial asset or liability is measured, initially at the present value of future cash flows discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost, unless it qualifies as a loan from a director in the case of a small company, or a public benefit entity concessionary loan.

Investments in non-derivative instruments that are equity to the issuer are measured:
at fair value with changes recognised in the Statement of Comprehensive Income if the shares are publicly traded or their fair value can otherwise be measured reliably;
at cost less impairment for all other investments.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of Comprehensive Income.

For financial assets measured at amortised cost, the impairment loss is measured as the difference between an asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If a financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract.

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and best estimate of the recoverable amount, which is an approximation of the amount that the Company would receive for the asset if it were to be sold at the reporting date.

Financial assets and liabilities are offset and the net amount reported in the Statement of Financial Position when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Derivatives, including interest rate swaps and forward foreign exchange contracts, are not basic financial instruments. Derivatives are initially recognised at fair value on the date a derivative contract is entered into and are subsequently re-measured at their fair value. Changes in the fair value of derivatives are recognised in profit or loss in finance costs or income as appropriate. The company does not currently apply hedge accounting for interest rate and foreign exchange derivatives.

Page 6

 
WISE WOMEN OF TRAVEL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

2.Accounting policies (continued)

 
2.9

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Investments





Investments in subsidiary companies

£



Cost or valuation


At 1 April 2022
585,000



At 31 March 2023
585,000




The company's investments at the Balance Sheet date in the share capital of companies include the following:       
       
Travelwise Limited       
Country in incorporation: England and Wales       
Nature of business: Travel agents       
       
Class of shares:   holding (%)    
Ordinary A shares   100.00     
Ordinary B and C shares   20.00     
       
                     2023         2022 
                 £             £ 
Aggregate capital and reserves        573,161         293,919 
Profit/(loss)  for the year             319,242           98,727        

Page 7

 
WISE WOMEN OF TRAVEL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

4.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
2,896
50,694

2,896
50,694



5.


Creditors: Amounts falling due within one year

2023
2022
£
£

Other loans
14,974
14,974

Amounts owed to group undertakings
123,471
123,471

Corporation tax
779
-

Other creditors
2,030
2,030

141,254
140,475



6.


Controlling party

The company is under the control of the directors.

 
Page 8