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REGISTERED NUMBER: 07442594 (England and Wales)










Unaudited Financial Statements

for the Year Ended 31 December 2023

for

BookWise Solutions Limited

BookWise Solutions Limited (Registered number: 07442594)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


BookWise Solutions Limited

Company Information
for the Year Ended 31 December 2023







DIRECTORS: B L Goffenberg
D P Matlow
M J Sanders





REGISTERED OFFICE: 2 Stone Buildings
Lincoln's Inn
London
WC2A 3TH





REGISTERED NUMBER: 07442594 (England and Wales)





ACCOUNTANTS: Bourne & Co
Chartered Accountants
6 Lichfield Street
Burton-on-Trent
Staffordshire
DE14 3RD

BookWise Solutions Limited (Registered number: 07442594)

Balance Sheet
31 December 2023

31.12.23 31.12.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - 2,504
Tangible assets 5 7,889 10,404
Investments 6 12 12
7,901 12,920

CURRENT ASSETS
Debtors 7 65,573 276,487
Cash at bank and in hand 1,616,310 1,154,522
1,681,883 1,431,009
CREDITORS
Amounts falling due within one year 8 504,595 476,092
NET CURRENT ASSETS 1,177,288 954,917
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,185,189

967,837

PROVISIONS FOR LIABILITIES 1,089 1,278
NET ASSETS 1,184,100 966,559

CAPITAL AND RESERVES
Called up share capital 10 682 682
Share premium 14,650 14,650
Retained earnings 1,168,768 951,227
SHAREHOLDERS' FUNDS 1,184,100 966,559

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

BookWise Solutions Limited (Registered number: 07442594)

Balance Sheet - continued
31 December 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 7 August 2024 and were signed on its behalf by:





B L Goffenberg - Director


BookWise Solutions Limited (Registered number: 07442594)

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

1. STATUTORY INFORMATION

BookWise Solutions Limited 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. 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.

Preparation of consolidated financial statements
The financial statements contain information about BookWise Solutions Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

Turnover
Turnover represents net invoiced sales of goods and services, excluding value added tax. For service contracts the revenue is recognised as contract activity progresses to reflect the company’s partial performance of its contractual obligations.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2011, is being amortised evenly over its estimated useful life of ten years.

Intellectual property
Intellectual property is being amortised evenly over its estimated useful life of five years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Improvements to property - 10% on cost
Fixtures, fittings and equipment - 10% on cost
Computer equipment - 20% on cost

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.


BookWise Solutions Limited (Registered number: 07442594)

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

2. ACCOUNTING POLICIES - continued
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

Research and development
Expenditure on research and development is written off in the year it is incurred except for projects with technical feasibility and commercial viability where the cost is deferred to and amortised over future periods.

Development costs that are deferred to future periods are included as Intangible Assets.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Debtors
Short term debtors are measured at transaction price less any impairment. Any losses arising from impairment are recognised in profit or loss.

Creditors
Short term creditors are measured at transaction price.

BookWise Solutions Limited (Registered number: 07442594)

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

2. ACCOUNTING POLICIES - continued

Grants
Capital grants received in respect of the acquisition of fixed assets are allocated to deferred income in the balance sheet and are released to the income and expenditure account over the useful economic life of the asset for which the grant was awarded.

Revenue grants are recognised in the period in which the expenses to which they relate are incurred.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 15 (2022 - 13 ) .

4. INTANGIBLE FIXED ASSETS
Intellectual
Goodwill property Totals
£    £    £   
COST
At 1 January 2023
and 31 December 2023 33,086 103,065 136,151
AMORTISATION
At 1 January 2023 33,086 100,561 133,647
Amortisation for year - 2,504 2,504
At 31 December 2023 33,086 103,065 136,151
NET BOOK VALUE
At 31 December 2023 - - -
At 31 December 2022 - 2,504 2,504

BookWise Solutions Limited (Registered number: 07442594)

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

5. TANGIBLE FIXED ASSETS
Fixtures,
Improvements fittings
to and Computer
property equipment equipment Totals
£    £    £    £   
COST
At 1 January 2023 11,258 10,210 12,739 34,207
Additions - 130 779 909
At 31 December 2023 11,258 10,340 13,518 35,116
DEPRECIATION
At 1 January 2023 9,288 5,002 9,513 23,803
Charge for year 1,521 1,013 890 3,424
At 31 December 2023 10,809 6,015 10,403 27,227
NET BOOK VALUE
At 31 December 2023 449 4,325 3,115 7,889
At 31 December 2022 1,970 5,208 3,226 10,404

6. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 January 2023
and 31 December 2023 12
NET BOOK VALUE
At 31 December 2023 12
At 31 December 2022 12

7. DEBTORS
31.12.23 31.12.22
£    £   
Amounts falling due within one year:
Trade debtors 51,399 226,296
Employee loans 800 -
Tax - 389
Prepayments 13,374 6,802
65,573 233,487

BookWise Solutions Limited (Registered number: 07442594)

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

7. DEBTORS - continued
31.12.23 31.12.22
£    £   
Amounts falling due after more than one year:
Amounts owed by group undertakings - 43,000

Aggregate amounts 65,573 276,487

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade creditors 14,427 7,724
Tax 34,875 68,954
Social security and other taxes 14,347 24,002
VAT 60,492 89,225
Other creditors 4,143 3,536
Accruals and deferred income 376,311 282,651
504,595 476,092

9. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
31.12.23 31.12.22
£    £   
Within one year 21,785 9,450
Between one and five years 32,678 -
54,463 9,450

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.12.23 31.12.22
value: £    £   
680 A Ordinary £1 680 680
2 Z Ordinary £1 2 2
682 682

Following the year end, the A Ordinary Shares and the Z Ordinary Shares were re-designated as Ordinary Shares.

BookWise Solutions Limited (Registered number: 07442594)

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

11. RELATED PARTY DISCLOSURES

The loan of £43,000, brought forward from last year, owed by BookWise Solutions Pty Ltd to the
company, has been repaid within the year.

No interest was charged on this loan.