Caseware UK (AP4) 2022.0.179 2022.0.179 2023-10-312023-10-31No description of principal activityfalse62022-11-01false5truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 07098838 2022-11-01 2023-10-31 07098838 2021-11-01 2022-10-31 07098838 2023-10-31 07098838 2022-10-31 07098838 c:Director1 2022-11-01 2023-10-31 07098838 d:Buildings d:LongLeaseholdAssets 2022-11-01 2023-10-31 07098838 d:Buildings d:LongLeaseholdAssets 2023-10-31 07098838 d:Buildings d:LongLeaseholdAssets 2022-10-31 07098838 d:PlantMachinery 2022-11-01 2023-10-31 07098838 d:PlantMachinery 2023-10-31 07098838 d:PlantMachinery 2022-10-31 07098838 d:PlantMachinery d:OwnedOrFreeholdAssets 2022-11-01 2023-10-31 07098838 d:FurnitureFittings 2022-11-01 2023-10-31 07098838 d:FurnitureFittings 2023-10-31 07098838 d:FurnitureFittings 2022-10-31 07098838 d:FurnitureFittings d:OwnedOrFreeholdAssets 2022-11-01 2023-10-31 07098838 d:OfficeEquipment 2022-11-01 2023-10-31 07098838 d:OfficeEquipment 2023-10-31 07098838 d:OfficeEquipment 2022-10-31 07098838 d:OfficeEquipment d:OwnedOrFreeholdAssets 2022-11-01 2023-10-31 07098838 d:OwnedOrFreeholdAssets 2022-11-01 2023-10-31 07098838 d:CurrentFinancialInstruments 2023-10-31 07098838 d:CurrentFinancialInstruments 2022-10-31 07098838 d:Non-currentFinancialInstruments 2023-10-31 07098838 d:Non-currentFinancialInstruments 2022-10-31 07098838 d:CurrentFinancialInstruments d:WithinOneYear 2023-10-31 07098838 d:CurrentFinancialInstruments d:WithinOneYear 2022-10-31 07098838 d:Non-currentFinancialInstruments d:AfterOneYear 2023-10-31 07098838 d:Non-currentFinancialInstruments d:AfterOneYear 2022-10-31 07098838 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2023-10-31 07098838 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2022-10-31 07098838 d:ShareCapital 2023-10-31 07098838 d:ShareCapital 2022-10-31 07098838 d:RetainedEarningsAccumulatedLosses 2023-10-31 07098838 d:RetainedEarningsAccumulatedLosses 2022-10-31 07098838 c:FRS102 2022-11-01 2023-10-31 07098838 c:AuditExempt-NoAccountantsReport 2022-11-01 2023-10-31 07098838 c:FullAccounts 2022-11-01 2023-10-31 07098838 c:PrivateLimitedCompanyLtd 2022-11-01 2023-10-31 07098838 d:HirePurchaseContracts d:WithinOneYear 2023-10-31 07098838 d:HirePurchaseContracts d:WithinOneYear 2022-10-31 07098838 d:HirePurchaseContracts d:BetweenOneFiveYears 2023-10-31 07098838 d:HirePurchaseContracts d:BetweenOneFiveYears 2022-10-31 07098838 e:PoundSterling 2022-11-01 2023-10-31 iso4217:GBP xbrli:pure

Registered number: 07098838









NETWISE HOSTING LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 OCTOBER 2023

 
NETWISE HOSTING LIMITED
REGISTERED NUMBER: 07098838

STATEMENT OF FINANCIAL POSITION
AS AT 31 OCTOBER 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
1,663,517
1,482,995

  
1,663,517
1,482,995

Current assets
  

Stocks
  
-
2,500

Debtors: amounts falling due within one year
 5 
212,196
329,166

Cash at bank and in hand
 6 
370,568
331,351

  
582,764
663,017

Creditors: amounts falling due within one year
 7 
(413,338)
(339,691)

Net current assets
  
 
 
169,426
 
 
323,326

Total assets less current liabilities
  
1,832,943
1,806,321

Creditors: amounts falling due after more than one year
 8 
(702,369)
(825,397)

  

Net assets
  
1,130,574
980,924


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
1,130,474
980,824

  
1,130,574
980,924


Page 1

 
NETWISE HOSTING LIMITED
REGISTERED NUMBER: 07098838
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 OCTOBER 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 6 March 2024.




M R Butt
Director

The notes on pages 3 to 8 form part of these financial statements.

Page 2

 
NETWISE HOSTING LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023

1.


General information

Netwise Hosting Limited is a private company, limited by shares, incorporated in England & Wales, registered number 07098838 . The registered office is Netwise House, 24 Old Jamaica Road, Bermondsey, London, SE16 4AW.

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 FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

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

 
NETWISE HOSTING LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023

2.Accounting policies (continued)

 
2.3

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

 
2.4

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.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Long-term leasehold property
-
10 years
Plant and machinery
-
10 years
Fixtures and fittings
-
10%
on cost
Office equipment
-
10%
on cost

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.

 
2.5

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 first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each reporting 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.

 
2.6

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.

Page 4

 
NETWISE HOSTING LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023

2.Accounting policies (continued)

 
2.7

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.

 
2.8

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.

 
2.9

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.


Employees

The average monthly number of employees, including directors, during the year was 6 (2022 - 5).

Page 5

 
NETWISE HOSTING LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023

4.


Tangible fixed assets





Long-term leasehold property
Plant and machinery
Fixtures and fittings
Office equipment
Total

£
£
£
£
£



Cost or valuation


At 1 November 2022
1,060,682
1,088,253
84,483
-
2,233,418


Additions
73,581
303,707
-
4,463
381,751



At 31 October 2023

1,134,263
1,391,960
84,483
4,463
2,615,169



Depreciation


At 1 November 2022
222,226
454,252
73,945
-
750,423


Charge for the year on owned assets
90,885
103,163
7,035
146
201,229



At 31 October 2023

313,111
557,415
80,980
146
951,652



Net book value



At 31 October 2023
821,152
834,545
3,503
4,317
1,663,517



At 31 October 2022
838,456
634,001
10,537
-
1,482,994


5.


Debtors

2023
2022
£
£


Trade debtors
116,596
157,232

Other debtors
22,085
57,454

Prepayments and accrued income
73,515
114,480

212,196
329,166


Page 6

 
NETWISE HOSTING LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023

6.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
370,568
331,351

370,568
331,351



7.


Creditors: Amounts falling due within one year

2023
2022
£
£

Bank loans
44,201
43,469

Other loans
160,561
89,103

Trade creditors
134,318
132,861

Obligations under finance lease and hire purchase contracts
74,258
74,258

413,338
339,691



8.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Bank loans
116,284
159,461

Other loans
222,338
152,571

Net obligations under finance leases and hire purchase contracts
67,729
142,118

Other creditors
51,166
98,968

Accruals and deferred income
244,852
272,279

702,369
825,397


Page 7

 
NETWISE HOSTING LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023

9.


Loans


Analysis of the maturity of loans is given below:


2023
2022
£
£

Amounts falling due within one year

Bank loans
44,201
43,469

Other loans
160,561
89,103


204,762
132,572

Amounts falling due 1-2 years

Bank loans
116,284
159,461

Other loans
222,338
152,571


338,622
312,032



543,384
444,604



10.


Hire purchase and finance leases


Minimum lease payments under hire purchase fall due as follows:

2023
2022
£
£


Within one year
74,258
74,258

Between 1-5 years
67,729
142,118

141,987
216,376

 
Page 8