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REGISTERED NUMBER: 12828805 (England and Wales)










Unaudited Financial Statements

for the Year Ended 31 August 2023

for

Assetswise Ltd

Assetswise Ltd (Registered number: 12828805)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Assetswise Ltd

Company Information
for the Year Ended 31 August 2023







DIRECTOR: H S Toor





SECRETARY: H S Toor





REGISTERED OFFICE: 128 City Road
London
EC1V 2NX





REGISTERED NUMBER: 12828805 (England and Wales)





ACCOUNTANTS: SKS Bailey Group Limited
Wynyard Business Park
Wynyard Avenue
Billingham
Cleveland
TS22 5TB

Assetswise Ltd (Registered number: 12828805)

Balance Sheet
31 August 2023

2023 2022
Notes £    £   
CURRENT ASSETS
Debtors 3 40,606 53,679
Cash at bank 116 748
40,722 54,427
CREDITORS
Amounts falling due within one year 4 (41,659 ) (55,129 )
NET CURRENT LIABILITIES (937 ) (702 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(937

)

(702

)

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings 5 (938 ) (703 )
(937 ) (702 )

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

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

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 director and authorised for issue on 15 March 2024 and were signed by:





H S Toor - Director


Assetswise Ltd (Registered number: 12828805)

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

1. 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.

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 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.

2. EMPLOYEES AND DIRECTORS

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

3. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Other debtors 38,040 50,873
Directors' current accounts 2,566 2,806
40,606 53,679

4. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors - 139
Other creditors 41,400 54,750
Accrued expenses 259 240
41,659 55,129

Assetswise Ltd (Registered number: 12828805)

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

5. RESERVES
Retained
earnings
£   

At 1 September 2022 (703 )
Deficit for the year (235 )
At 31 August 2023 (938 )

6. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 August 2023 and 31 August 2022:

2023 2022
£    £   
H S Toor
Balance outstanding at start of year 2,806 (683 )
Amounts advanced - 3,705
Amounts repaid (240 ) (216 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 2,566 2,806