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REGISTERED NUMBER: 08625348 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 March 2023

for

Wise Analytics Limited

Wise Analytics Limited (Registered number: 08625348)

Contents of the Financial Statements
for the Year Ended 31 March 2023










Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


Wise Analytics Limited

Company Information
for the Year Ended 31 March 2023







DIRECTORS: L R Eckley
C Eckley
A Marchal
O C Marret
M Ramseyer
D Shewaram
P R Wakeham
S Seifarth
J J Fink





SECRETARY: J Ramseyer





REGISTERED OFFICE: 82-84 Heath Road
Twickenham
TW1 4BW





REGISTERED NUMBER: 08625348 (England and Wales)






Wise Analytics Limited (Registered number: 08625348)

Statement of Financial Position
31 March 2023

31.3.23 31.3.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - 447,448
Tangible assets 5 - -
Investments 6 - 2,862,779
- 3,310,227

CURRENT ASSETS
Debtors 7 25,643 2,558,450
Cash at bank 122,042 1,633,522
147,685 4,191,972
CREDITORS
Amounts falling due within one year 8 1,556,462 509,902
NET CURRENT (LIABILITIES)/ASSETS (1,408,777 ) 3,682,070
TOTAL ASSETS LESS CURRENT LIABILITIES (1,408,777 ) 6,992,297

CREDITORS
Amounts falling due after more than one year 9 - 247,494
NET (LIABILITIES)/ASSETS (1,408,777 ) 6,744,803

CAPITAL AND RESERVES
Called up share capital 10 5 5
Share premium 7,355,403 6,949,161
Other reserves 290,000 290,000
Retained earnings (9,054,185 ) (494,363 )
SHAREHOLDERS' FUNDS (1,408,777 ) 6,744,803

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 in accordance with Section 476 of the Companies Act 2006.

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 Analytics Limited (Registered number: 08625348)

Statement of Financial Position - continued
31 March 2023


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

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 21 December 2023 and were signed on its behalf by:





C Eckley - Director


Wise Analytics Limited (Registered number: 08625348)

Notes to the Financial Statements
for the Year Ended 31 March 2023


1. STATUTORY INFORMATION

Wise Analytics Limited 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 Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

In light of the Director's opinion on the going concern status of the company, the financial statements have been prepared on a basis other than the going concern basis, in accordance with FRS 102 including section 1A. As a result of the nature of the post balance sheet event taking place, the Director's have assessed the recoverable amount of its fixed and current assets at the statement of financial position date and have taken the following actions in these financial statements:

- The company's Intangible assets were deemed to be impaired at the Statement of Financial Position date and they have subsequently been impaired down to the recoverable amount

- The company's Tangible assets were deemed to be impaired at the Statement of Financial Position date and they have subsequently been impaired down to their recoverable amount.

- The company's Investments were deemed to be impaired at the Statement of Financial Position date and they have subsequently been impaired down to their recoverable amount.

- The company's loan balances due to/from group undertakings have been fully written off due to the chances of recoverability.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Intangible assets
Intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Tangible assets are measured at cost less accumulated depreciation and accumulated impairment losses. Depreciation is provided on tangible assets at rates that write off the value of each asset over its estimated useful life. No depreciation was charged during the year as tangible assets are fully depreciated

Investments in subsidiaries
Investments in subsidiary undertakings are measured at cost less any accumulated impairment losses.

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 statement of financial position date.


Wise Analytics Limited (Registered number: 08625348)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023


2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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 Director's do not consider the company to be a going concern at the Statement of Financial Position date and therefore the accounts have been prepared on a basis other than the going concern basis, in accordance with FRS 102 including section 1A. Details of specific accounting treatments actioned as a result of the company not being a going concern at the Statement of Financial Position date are detailed in the basis of preparation note.

Significant judgements and estimates
The Director's have had to rely on judgements in determining the recoverable amounts of the company's fixed and current assets at the statement of financial position date.

Financial instruments
The Company has chosen to adopt Sections 11 and 12 of FRS 102 in respect of financial instruments.

The Company only enters into basic financial instruments 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 non-puttable 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 the 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 financed at a rate of interest that is not a market rate or in the case of an outright short-term loan not at market rate, the financial asset or liability is measured, initially, at the present value of the future cash flow discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost.

Financial assets and liabilities are offset and the net amount is 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 2 ) .

Wise Analytics Limited (Registered number: 08625348)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023


4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1 April 2022 535,409
Additions 51,701
At 31 March 2023 587,110
AMORTISATION
At 1 April 2022 87,961
Charge for year 54,088
Impairments 445,061
At 31 March 2023 587,110
NET BOOK VALUE
At 31 March 2023 -
At 31 March 2022 447,448

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 April 2022
and 31 March 2023 2,257
DEPRECIATION
At 1 April 2022
and 31 March 2023 2,257
NET BOOK VALUE
At 31 March 2023 -

6. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 April 2022 2,862,779
Disposals (77,679 )
Impairments (2,785,100 )
At 31 March 2023 -
NET BOOK VALUE
At 31 March 2023 -
At 31 March 2022 2,862,779

Wise Analytics Limited (Registered number: 08625348)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023


7. DEBTORS
31.3.23 31.3.22
£    £   
Amounts falling due within one year:
Trade debtors 2,042 2,758
Amounts owed by associates - 2,461,327
Other debtors 23,601 3,781
25,643 2,467,866

Amounts falling due after more than one year:
Other debtors - 90,584

Aggregate amounts 25,643 2,558,450

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Trade creditors 4,520 103,568
Taxation and social security 9,204 9,000
Other creditors 1,542,738 397,334
1,556,462 509,902

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.3.23 31.3.22
£    £   
Other creditors - 247,494

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.3.23 31.3.22
value: £    £   
252,825 Ordinary 0.00002 5 5
4,886 Deferred 0.00002 - -
14,315 Growth 0.00002 - -
5 5

11. RELATED PARTY DISCLOSURES

During the year the Director's made the decision to write off total loan amounts due from group undertakings of £5,082,679 on the basis that recoverability of the loans is considered negligible given the Group's intent to liquidate in the near future.

12. POST BALANCE SHEET EVENTS

The Director's are currently negotiating an Asset Purchase Agreement for the company and its wholly owned subsidiaries. Following the completion of the Asset Purchase transaction the Director's intend to wind up and liquidate the company and its subsidiaries.