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REGISTERED NUMBER: 06745996 (England and Wales)















WISE TRANSPORT SERVICES LTD

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 NOVEMBER 2023






WISE TRANSPORT SERVICES LTD (REGISTERED NUMBER: 06745996)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023










Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


WISE TRANSPORT SERVICES LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 30 NOVEMBER 2023







DIRECTORS: P F O'Neill
T Elleray





SECRETARY: T Elleray





REGISTERED OFFICE: 5 Wrigley Fold
Middleton
Manchester
M24 5XA





REGISTERED NUMBER: 06745996 (England and Wales)





ACCOUNTANTS: DTE Business Advisers Limited
The Exchange
5 Bank Street
Bury
BL9 0DN

WISE TRANSPORT SERVICES LTD (REGISTERED NUMBER: 06745996)

STATEMENT OF FINANCIAL POSITION
30 NOVEMBER 2023

2023 2022
Notes £    £   
FIXED ASSETS
Property, plant and equipment 4 109,787 80,847

CURRENT ASSETS
Debtors 5 1,771 11,956
Cash at bank 24,133 2,708
25,904 14,664
CREDITORS
Amounts falling due within one year 6 (168,384 ) (77,474 )
NET CURRENT LIABILITIES (142,480 ) (62,810 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(32,693

)

18,037

CREDITORS
Amounts falling due after more than one
year

7

-

(20,800

)

PROVISIONS FOR LIABILITIES - (5,285 )
NET LIABILITIES (32,693 ) (8,048 )

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings (32,793 ) (8,148 )
SHAREHOLDERS' FUNDS (32,693 ) (8,048 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 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.

WISE TRANSPORT SERVICES LTD (REGISTERED NUMBER: 06745996)

STATEMENT OF FINANCIAL POSITION - continued
30 NOVEMBER 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 30 August 2024 and were signed on its behalf by:





P F O'Neill - Director


WISE TRANSPORT SERVICES LTD (REGISTERED NUMBER: 06745996)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023


1. STATUTORY INFORMATION

Wise Transport Services Ltd is a private company, limited by shares, registered in England and Wales. The company's registered number is 06745996. The registered office is 5 Wrigley Fold, Middleton, Manchester, M24 5XA.

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.

The directors will not request any repayment of their directors' loan account at least for the next twelve months period and will continue to support the company. As such the directors continue to adopt the going concern basis of accounting in preparing these financial statements.

Revenue
Revenue comprises the aggregate of the fair value of the sale of services provided net of value added tax. Service revenues are recognised as those services are provided to the customers.

Property, plant and equipment
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery etc - 25% on reducing balance and 15% on reducing balance

The residual values, estimated useful lives and depreciation method of property, plant and equipment are reviewed, and adjusted as appropriate, at each statement of financial position date. The effects of any revision are recognised in the income statement when the change arises.

Financial instruments
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third parties and loans to related parties.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the income statement.

Basic financial liabilities are initially measured at transaction price and subsequently measured at amortised cost, being the transaction price less any amounts settled.

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 statement of financial position date.


WISE TRANSPORT SERVICES LTD (REGISTERED NUMBER: 06745996)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 NOVEMBER 2023


2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Hire purchase
Assets obtained under hire purchase contracts or finance leases are capitalised in the statement of financial position. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to the income statement over the relevant period. The capital element of the future payments is treated as a liability.

Critical accounting estimates and judgements
In the application of the company's accounting policies, the directors are required to make estimates and judgements. The estimates are based on historical experience and other relevant factors. Actual results may differ from these estimates.

The estimates are continually evaluated. Revisions to accounting estimates are recognised in the period in which the estimate is revised.

The estimates and assumptions which have a significant risk of causing material adjustment to the carrying amount of assets and liabilities are outlined below:

Estimating the useful economic life of an asset and the anticipated residual value are considered key judgements in calculating an appropriate depreciation charge.

Dividends
Equity dividends are recognised when they become legally payable and are no longer at the discretion of the company.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 2 ) .

WISE TRANSPORT SERVICES LTD (REGISTERED NUMBER: 06745996)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 NOVEMBER 2023


4. PROPERTY, PLANT AND EQUIPMENT
Plant and
machinery
etc
£   
COST
At 1 December 2022 99,544
Additions 51,668
At 30 November 2023 151,212
DEPRECIATION
At 1 December 2022 18,697
Charge for year 22,728
At 30 November 2023 41,425
NET BOOK VALUE
At 30 November 2023 109,787
At 30 November 2022 80,847

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and
machinery
etc
£   
COST
At 1 December 2022 32,002
Transfer to ownership (32,002 )
At 30 November 2023 -
DEPRECIATION
At 1 December 2022 6,667
Charge for year 8,102
Transfer to ownership (14,769 )
At 30 November 2023 -
NET BOOK VALUE
At 30 November 2023 -
At 30 November 2022 25,335

WISE TRANSPORT SERVICES LTD (REGISTERED NUMBER: 06745996)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 NOVEMBER 2023


5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 160 10,461
Other debtors 1,611 1,495
1,771 11,956

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Hire purchase contracts - 6,400
Trade creditors 468 348
Taxation and social security 1,397 36
Other creditors 166,519 70,690
168,384 77,474

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Hire purchase contracts - 20,800

8. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Hire purchase contracts - 27,200

These debts are secured against the assets to which they relate.