2022-11-012023-10-312023-10-31false11072075APPLYWISE 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APPLYWISE LTD

Registered Number
11072075
(England and Wales)

Unaudited Financial Statements for the Year ended
31 October 2023

APPLYWISE LTD
Company Information
for the year from 1 November 2022 to 31 October 2023

Director

Erdal Urul

Registered Address

11072075 - COMPANIES HOUSE DEFAULT ADDRESS
Cardiff
CF14 8LH

Registered Number

11072075 (England and Wales)
APPLYWISE LTD
Balance Sheet as at
31 October 2023

Notes

2023

2022

£

£

£

£

Current assets
Debtors41,3071,307
Cash at bank and on hand568554
1,8751,861
Creditors amounts falling due within one year5(8,103)(12,168)
Net current assets (liabilities)(6,228)(10,307)
Total assets less current liabilities(6,228)(10,307)
Creditors amounts falling due after one year6(39,814)(1,322)
Net assets(46,042)(11,629)
Capital and reserves
Called up share capital100100
Profit and loss account(46,142)(11,729)
Shareholders' funds(46,042)(11,629)
The financial statements were approved and authorised for issue by the Director on 26 July 2024, and are signed on its behalf by:
Erdal Urul
Director
Registered Company No. 11072075
APPLYWISE LTD
Notes to the Financial Statements
for the year ended 31 October 2023

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
Employee benefits
Contributions to defined contribution plans are expensed in the period to which they relate.
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:
2.Average number of employees

20232022
Average number of employees during the year11
3.Tangible fixed assets

Plant & machinery

Total

££
Cost or valuation
At 01 November 22357357
Disposals(357)(357)
Depreciation and impairment
At 01 November 22357357
On disposals(357)(357)
Net book value
At 31 October 23--
At 31 October 22--
4.Debtors: amounts due within one year

2023

2022

££
Other debtors1,3071,307
Total1,3071,307
5.Creditors: amounts due within one year

2023

2022

££
Trade creditors / trade payables1,655-
Amounts owed to related parties4,4747,977
Taxation and social security7231,349
Other creditors5002,342
Accrued liabilities and deferred income751500
Total8,10312,168
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
6.Creditors: amounts due after one year

2023

2022

££
Amounts owed to related parties39,8141,322
Total39,8141,322
7.Related party transactions
During the year Erdal Urul, director and 100% shareholder of Applywise Ltd, advanced £27,415.00 to the company. At year-end, the company owes Erdal £4,474.40 (2022: £7,976.91). The loan is interest-free and payable on demand. On 31 October 2023, Applywise Ltd owes an amount of £31,708.75 to Studyclass Ltd (2022: £1,208.75) a company under common control, with 100% shares held by Erdal Urul. The loan is interest-free and payable on demand. On 31 October 2023, Applywise Ltd owes an amount of £8,105.00 to Workgate Global Ltd (2022: £NIL) a company owned by Mehmet Ali Urul a close family member of Erdal Urul. The loan is interest-free and payable on demand.