Caseware UK (AP4) 2022.0.179 2022.0.179 2023-07-312023-07-31true1true2022-08-01falseIT Consultancy and Alpaca Farm2The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 06971840 2022-08-01 2023-07-31 06971840 2021-08-01 2022-07-31 06971840 2023-07-31 06971840 2022-07-31 06971840 c:Director1 2022-08-01 2023-07-31 06971840 d:FurnitureFittings 2022-08-01 2023-07-31 06971840 d:FurnitureFittings 2023-07-31 06971840 d:FurnitureFittings 2022-07-31 06971840 d:FurnitureFittings d:OwnedOrFreeholdAssets 2022-08-01 2023-07-31 06971840 d:OfficeEquipment 2022-08-01 2023-07-31 06971840 d:OfficeEquipment 2023-07-31 06971840 d:OfficeEquipment 2022-07-31 06971840 d:OfficeEquipment d:OwnedOrFreeholdAssets 2022-08-01 2023-07-31 06971840 d:OtherPropertyPlantEquipment 2022-08-01 2023-07-31 06971840 d:OtherPropertyPlantEquipment 2023-07-31 06971840 d:OtherPropertyPlantEquipment 2022-07-31 06971840 d:OtherPropertyPlantEquipment d:OwnedOrFreeholdAssets 2022-08-01 2023-07-31 06971840 d:OwnedOrFreeholdAssets 2022-08-01 2023-07-31 06971840 d:CurrentFinancialInstruments 2023-07-31 06971840 d:CurrentFinancialInstruments 2022-07-31 06971840 d:Non-currentFinancialInstruments 2023-07-31 06971840 d:Non-currentFinancialInstruments 2022-07-31 06971840 d:CurrentFinancialInstruments d:WithinOneYear 2023-07-31 06971840 d:CurrentFinancialInstruments d:WithinOneYear 2022-07-31 06971840 d:Non-currentFinancialInstruments d:AfterOneYear 2023-07-31 06971840 d:Non-currentFinancialInstruments d:AfterOneYear 2022-07-31 06971840 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2023-07-31 06971840 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2022-07-31 06971840 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2023-07-31 06971840 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2022-07-31 06971840 d:ShareCapital 2023-07-31 06971840 d:ShareCapital 2022-07-31 06971840 d:RetainedEarningsAccumulatedLosses 2023-07-31 06971840 d:RetainedEarningsAccumulatedLosses 2022-07-31 06971840 d:FinancialAssetsDesignatedFairValueThroughProfitOrLoss 2023-07-31 06971840 d:FinancialAssetsDesignatedFairValueThroughProfitOrLoss 2022-07-31 06971840 c:FRS102 2022-08-01 2023-07-31 06971840 c:AuditExempt-NoAccountantsReport 2022-08-01 2023-07-31 06971840 c:AbridgedAccounts 2022-08-01 2023-07-31 06971840 c:PrivateLimitedCompanyLtd 2022-08-01 2023-07-31 06971840 2 2022-08-01 2023-07-31 iso4217:GBP xbrli:pure

Registered number: 06971840









WILDE BUSINESS SOLUTIONS LTD








FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 JULY 2023


 
WILDE BUSINESS SOLUTIONS LTD
REGISTERED NUMBER:06971840

BALANCE SHEET
AS AT 31 JULY 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
44,766
49,090

  
44,766
49,090

Current assets
  

Stocks
 5 
8,810
8,750

Debtors
 6 
47,112
53,140

Cash at bank and in hand
 7 
14,507
6,174

  
70,429
68,064

Creditors: amounts falling due within one year
 8 
(83,314)
(36,731)

Net current (liabilities)/assets
  
 
 
(12,885)
 
 
31,333

Total assets less current liabilities
  
31,881
80,423

Creditors: amounts falling due after more than one year
 9 
(28,446)
(41,428)

Net assets
  
3,435
38,995


Capital and reserves
  

Called up share capital 
  
1,000
1,000

Profit and loss account
  
2,435
37,995

  
3,435
38,995


Page 1


 
WILDE BUSINESS SOLUTIONS LTD
REGISTERED NUMBER:06971840
    
BALANCE SHEET (CONTINUED)
AS AT 31 JULY 2023

The director considers 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 director acknowledges her 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 income and retained earnings 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 17 October 2023.




C Crompton
Director

The notes on pages 3 to 11 form part of these financial statements.

Page 2


 
WILDE BUSINESS SOLUTIONS LTD
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023

1.


General information

The Company is incorporated in England and Wales and is limited by shares.  The registered office is located at Yew Tree House, Lewes Road, Forest Row, East Sussex, RH18 5AA.  
The company’s principal activity continues to be that of IT contractor services and Alpaca farming.

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 members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A) of 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.

Page 3


 
WILDE BUSINESS SOLUTIONS LTD
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023

2.Accounting policies (continued)

 
2.3

Government grants

Grants are accounted under the accruals model as permitted by FRS 102. Grants relating to expenditure on tangible fixed assets are credited to profit or loss at the same rate as the depreciation on the assets to which the grant relates. The deferred element of grants is included in creditors as deferred income.
Grants of a revenue nature are recognised in the Statement of income and retained earnings in the same period as the related expenditure.

 
2.4

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.5

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.6

Borrowing costs

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

 
2.7

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 balance sheet date in the countries where the Company operates and generates income.

 
2.8

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Page 4


 
WILDE BUSINESS SOLUTIONS LTD
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023

2.Accounting policies (continued)


2.8
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance and straight line basis.

Depreciation is provided on the following basis:

Fixtures and fittings
-
25%
reducing balance
Office equipment
-
20%
straight line
Other fixed assets
-
5%
straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.9

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a weighted average basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.10

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.11

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.

 
2.12

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.

 
2.13

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the Company's Balance sheet when the Company becomes
Page 5


 
WILDE BUSINESS SOLUTIONS LTD
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023

2.Accounting policies (continued)


2.13
Financial instruments (continued)

party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally 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.

Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.

Impairment of financial assets

Financial assets are assessed for indicators of impairment at each reporting date. 

Financial assets are impaired when events, subsequent to their initial recognition, indicate the estimated future cash flows derived from the financial asset(s) have been adversely impacted. The impairment loss will be the difference between the current carrying amount and the present value of the future cash flows at the asset(s) original effective interest rate.

If there is a favourable change in relation to the events surrounding the impairment loss then the impairment can be reviewed for possible reversal. The reversal will not cause the current carrying amount to exceed the original carrying amount had the impairment not been recognised. The impairment reversal is recognised in the profit or loss.

Financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instruments any contract that evidences a residual interest in the assets of the Company after the deduction of all its liabilities.

Basic financial liabilities, which include trade and other payables, bank loans and other loans are initially measured at their transaction price after transaction costs. When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Discounting is omitted where the effect of discounting is immaterial.

Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.

Trade payables are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade payables are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade payables are initially recognised at their transaction price and subsequently are measured at amortised cost using the
Page 6


 
WILDE BUSINESS SOLUTIONS LTD
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023

2.Accounting policies (continued)


2.13
Financial instruments (continued)

effective interest method. Discounting is omitted where the effect of discounting is immaterial.

 
2.14

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.


Employees

The average monthly number of employees, including directors, during the year was 1 (2022 - 2).


4.


Tangible fixed assets





Fixtures and fittings
Office equipment
Other fixed assets
Total

£
£
£
£



Cost or valuation


At 1 August 2022
29,620
416
32,753
62,789


Additions
1,317
920
-
2,237



At 31 July 2023

30,937
1,336
32,753
65,026



Depreciation


At 1 August 2022
11,977
84
1,638
13,699


Charge for the year on owned assets
4,740
184
1,637
6,561



At 31 July 2023

16,717
268
3,275
20,260



Net book value



At 31 July 2023
14,220
1,068
29,478
44,766



At 31 July 2022
17,643
332
31,115
49,090

Page 7


 
WILDE BUSINESS SOLUTIONS LTD
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023

5.


Stocks

2023
2022
£
£

Raw materials and consumables
8,810
8,750

8,810
8,750


Page 8


 
WILDE BUSINESS SOLUTIONS LTD
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023

6.


Debtors

2023
2022
£
£


Trade debtors
4,590
9,600

Other debtors
42,522
43,063

Prepayments and accrued income
-
478

47,112
53,141



7.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
14,507
6,174

14,507
6,174



8.


Creditors: Amounts falling due within one year

2023
2022
£
£

Bank loans
13,709
14,436

Other loans
25,000
-

Corporation tax
27,944
16,067

Other taxation and social security
10,877
1,022

Accruals and deferred income
5,784
5,206

83,314
36,731



9.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Bank loans
28,446
41,428

28,446
41,428


Page 9


 
WILDE BUSINESS SOLUTIONS LTD
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023

10.


Loans


Analysis of the maturity of loans is given below:


2023
2022
£
£

Amounts falling due within one year

Bank loans
13,709
14,436

Other loans
25,000
-


38,709
14,436

Amounts falling due 1-2 years

Bank loans
13,760
14,436


13,760
14,436

Amounts falling due 2-5 years

Bank loans
14,686
26,992


14,686
26,992


67,155
55,864



11.


Financial instruments

2023
2022
£
£

Financial assets


Financial assets measured at fair value through profit or loss
14,507
6,174




Financial assets measured at fair value through profit or loss comprise solely of cash at bank.


12.


Transactions with directors

Included in other debtors due within one year is a loan to the director, C Crompton amounting to £42,522 [2022 - £43,063].
The loan was repaid within 9 months of the year end and interest has been charged at the rate set by HMRC.

Page 10


 
WILDE BUSINESS SOLUTIONS LTD
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023

13.


Controlling party

The company was controlled throughout the current period to 18 January 2023 and previous period by, C Crompton and A Terrington. A Terrington resigned as a director and transferred his shares to C Crompton on the 18 January 2023, and since this date the company has been controlled solely by C Crompton, by virtue of the fact she owns the majority of the company’s ordinary issued share capital.

 
Page 11