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REGISTERED NUMBER: 09035059 (England and Wales)



















WISEBUILD DEVELOPMENT LTD

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2023






WISEBUILD DEVELOPMENT LTD (REGISTERED NUMBER: 09035059)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2023




Page

Company Information 1

Balance Sheet 2 to 3

Notes to the Financial Statements 4 to 6


WISEBUILD DEVELOPMENT LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MAY 2023







DIRECTOR: Mr E S Weiss





REGISTERED OFFICE: 174 Kyverdale Road
London
N16 6PT





REGISTERED NUMBER: 09035059 (England and Wales)





ACCOUNTANTS: Sugarwhite Meyer Accountants Ltd
First Floor
94 Stamford Hill
London
N16 6XS

WISEBUILD DEVELOPMENT LTD (REGISTERED NUMBER: 09035059)

BALANCE SHEET
31 MAY 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 44,135 37,721

CURRENT ASSETS
Stocks 6 252,500 201,295
Debtors 7 42,306 119,905
Cash at bank 8,801 51,756
303,607 372,956
CREDITORS
Amounts falling due within one year 8 372,672 289,271
NET CURRENT (LIABILITIES)/ASSETS (69,065 ) 83,685
TOTAL ASSETS LESS CURRENT
LIABILITIES

(24,930

)

121,406

CREDITORS
Amounts falling due after more than one
year

9

(56,477

)

(59,162

)

PROVISIONS FOR LIABILITIES 10 - (4,220 )
NET (LIABILITIES)/ASSETS (81,407 ) 58,024

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings (81,408 ) 58,023
SHAREHOLDERS' FUNDS (81,407 ) 58,024

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2023 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.

WISEBUILD DEVELOPMENT LTD (REGISTERED NUMBER: 09035059)

BALANCE SHEET - continued
31 MAY 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 Profit and Loss Account has not been delivered.

The financial statements were approved by the director and authorised for issue on 1 March 2024 and were signed by:





Mr E S Weiss - Director


WISEBUILD DEVELOPMENT LTD (REGISTERED NUMBER: 09035059)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2023

1. STATUTORY INFORMATION

Wisebuild Development 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. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
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 the cost less estimated residual value of each asset over its estimated useful life.
Plant and machinery - 25% on reducing balance
Motor vehicles - 25% on reducing balance
Office equipment - 20% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current tax. Tax is recognised in the Profit and Loss Account, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current 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.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2022 - 7 ) .

WISEBUILD DEVELOPMENT LTD (REGISTERED NUMBER: 09035059)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2023

5. TANGIBLE FIXED ASSETS
Plant and Motor Office
machinery vehicles equipment Totals
£    £    £    £   
COST
At 1 June 2022 43,385 42,025 5,332 90,742
Additions - 33,500 - 33,500
Disposals - (16,500 ) - (16,500 )
At 31 May 2023 43,385 59,025 5,332 107,742
DEPRECIATION
At 1 June 2022 28,772 21,317 2,932 53,021
Charge for year 3,653 10,458 600 14,711
Charge written back - (4,125 ) - (4,125 )
At 31 May 2023 32,425 27,650 3,532 63,607
NET BOOK VALUE
At 31 May 2023 10,960 31,375 1,800 44,135
At 31 May 2022 14,613 20,708 2,400 37,721

6. STOCKS
2023 2022
£    £   
Closing stock & W.I.P. 252,500 201,295

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 9,924 119,905
Other debtors 32,382 -
42,306 119,905

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 18,975 14,215
Trade creditors 26,540 2,211
Taxation and social security 14,694 38,430
Other creditors 312,463 234,415
372,672 289,271

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans 56,477 59,162

WISEBUILD DEVELOPMENT LTD (REGISTERED NUMBER: 09035059)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2023

10. PROVISIONS FOR LIABILITIES
2023 2022
£    £   
Deferred tax - 4,220

Deferred
tax
£   
Balance at 1 June 2022 4,220
Credit to Profit and Loss Account during year (4,220 )
Balance at 31 May 2023 -

The provision for deferred tax is in respect of accelerated capital allowances, reduced by the availability of tax losses carried forward.

11. RELATED PARTY DISCLOSURES

Other creditors include amounts aggregating £58,500 (2022: £73,500) due to related companies under common control.