Parentwise Limited 11949104 false 2022-08-01 2023-07-31 2023-07-31 The principal activity of the company is antenatal education. Digita Accounts Production Advanced 6.30.9574.0 true 11949104 2022-08-01 2023-07-31 11949104 2023-07-31 11949104 core:RetainedEarningsAccumulatedLosses 2023-07-31 11949104 core:ShareCapital 2023-07-31 11949104 core:CurrentFinancialInstruments 2023-07-31 11949104 core:CurrentFinancialInstruments core:WithinOneYear 2023-07-31 11949104 core:Goodwill 2023-07-31 11949104 core:FurnitureFittingsToolsEquipment 2023-07-31 11949104 bus:SmallEntities 2022-08-01 2023-07-31 11949104 bus:AuditExemptWithAccountantsReport 2022-08-01 2023-07-31 11949104 bus:FullAccounts 2022-08-01 2023-07-31 11949104 bus:SmallCompaniesRegimeForAccounts 2022-08-01 2023-07-31 11949104 bus:RegisteredOffice 2022-08-01 2023-07-31 11949104 bus:Director1 2022-08-01 2023-07-31 11949104 bus:PrivateLimitedCompanyLtd 2022-08-01 2023-07-31 11949104 core:Goodwill 2022-08-01 2023-07-31 11949104 core:FurnitureFittingsToolsEquipment 2022-08-01 2023-07-31 11949104 core:OfficeEquipment 2022-08-01 2023-07-31 11949104 countries:EnglandWales 2022-08-01 2023-07-31 11949104 2022-07-31 11949104 core:Goodwill 2022-07-31 11949104 core:FurnitureFittingsToolsEquipment 2022-07-31 11949104 2021-08-01 2022-07-31 11949104 2022-07-31 11949104 core:RetainedEarningsAccumulatedLosses 2022-07-31 11949104 core:ShareCapital 2022-07-31 11949104 core:CurrentFinancialInstruments 2022-07-31 11949104 core:CurrentFinancialInstruments core:WithinOneYear 2022-07-31 11949104 core:Goodwill 2022-07-31 11949104 core:FurnitureFittingsToolsEquipment 2022-07-31 iso4217:GBP xbrli:pure

Registration number: 11949104

Parentwise Limited

Filleted Unaudited Financial Statements

for the Year Ended 31 July 2023

 

Parentwise Limited
(Registration number: 11949104)

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 8

 

Parentwise Limited
(Registration number: 11949104)

Company Information

Director

P A Cocking

Registered office

28 Alexandra Terrace
Exmouth
Devon
EX8 1BD

Accountants

Thompson Jenner LLP
Chartered Accountants
28 Alexandra Terrace
Exmouth
Devon
EX8 1BD

 

Parentwise Limited
(Registration number: 11949104)

Balance Sheet as at 31 July 2023

Note

2023
£

2022
£

Fixed assets

 

Intangible assets

4

2,000

4,000

Tangible assets

5

520

781

 

2,520

4,781

Current assets

 

Debtors

6

137

133

Cash at bank and in hand

 

19,738

12,345

 

19,875

12,478

Creditors: Amounts falling due within one year

7

(18,719)

(18,627)

Net current assets/(liabilities)

 

1,156

(6,149)

Total assets less current liabilities

 

3,676

(1,368)

Provisions for liabilities

(99)

(148)

Net assets/(liabilities)

 

3,577

(1,516)

Capital and reserves

 

Called up share capital

1

1

Profit and loss account

3,576

(1,517)

Total equity

 

3,577

(1,516)

For the financial year ending 31 July 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

 

Parentwise Limited
(Registration number: 11949104)

Balance Sheet as at 31 July 2023

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the director on 3 April 2024
 

.........................................
P A Cocking
Director

 

Parentwise Limited
(Registration number: 11949104)

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2023

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
28 Alexandra Terrace
Exmouth
Devon
EX8 1BD

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

Parentwise Limited
(Registration number: 11949104)

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2023

Deferred income tax is recognised on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements and on unused tax losses or tax credits in the company. Deferred income tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Fixtures, fittings and equipment

20% straight line

Office equipment

20% straight line

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Goodwill

Over 5 years

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

 

Parentwise Limited
(Registration number: 11949104)

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2023

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 2 (2022 - 1).

 

Parentwise Limited
(Registration number: 11949104)

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2023

4

Intangible assets

Goodwill
 £

Total
£

Cost or valuation

At 1 August 2022

10,000

10,000

At 31 July 2023

10,000

10,000

Amortisation

At 1 August 2022

6,000

6,000

Amortisation charge

2,000

2,000

At 31 July 2023

8,000

8,000

Carrying amount

At 31 July 2023

2,000

2,000

At 31 July 2022

4,000

4,000

5

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 August 2022

1,302

1,302

At 31 July 2023

1,302

1,302

Depreciation

At 1 August 2022

521

521

Charge for the year

261

261

At 31 July 2023

782

782

Carrying amount

At 31 July 2023

520

520

At 31 July 2022

781

781

6

Debtors

2023
£

2022
£

Prepayments and accrued income

137

133

Total current trade and other debtors

137

133

 

Parentwise Limited
(Registration number: 11949104)

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2023

7

Creditors

2023
£

2022
£

Due within one year

Taxation and social security

2,287

1,400

Other creditors

8,182

11,277

Accrued expenses

2,040

2,040

Deferred income

6,210

3,910

18,719

18,627