Caseware UK (AP4) 2023.0.135 2023.0.135 2023-11-302023-11-302022-12-01truefalseNo description of principal activity711falseThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 11060395 2022-12-01 2023-11-30 11060395 2021-12-01 2022-11-30 11060395 2023-11-30 11060395 2022-11-30 11060395 c:Director1 2022-12-01 2023-11-30 11060395 d:MotorVehicles 2022-12-01 2023-11-30 11060395 d:MotorVehicles 2023-11-30 11060395 d:MotorVehicles 2022-11-30 11060395 d:MotorVehicles d:OwnedOrFreeholdAssets 2022-12-01 2023-11-30 11060395 d:MotorVehicles d:LeasedAssetsHeldAsLessee 2022-12-01 2023-11-30 11060395 d:FurnitureFittings 2022-12-01 2023-11-30 11060395 d:FurnitureFittings 2023-11-30 11060395 d:FurnitureFittings 2022-11-30 11060395 d:FurnitureFittings d:OwnedOrFreeholdAssets 2022-12-01 2023-11-30 11060395 d:FurnitureFittings d:LeasedAssetsHeldAsLessee 2022-12-01 2023-11-30 11060395 d:OfficeEquipment 2022-12-01 2023-11-30 11060395 d:OfficeEquipment 2023-11-30 11060395 d:OfficeEquipment 2022-11-30 11060395 d:OfficeEquipment d:OwnedOrFreeholdAssets 2022-12-01 2023-11-30 11060395 d:OfficeEquipment d:LeasedAssetsHeldAsLessee 2022-12-01 2023-11-30 11060395 d:OwnedOrFreeholdAssets 2022-12-01 2023-11-30 11060395 d:LeasedAssetsHeldAsLessee 2022-12-01 2023-11-30 11060395 d:CurrentFinancialInstruments 2023-11-30 11060395 d:CurrentFinancialInstruments 2022-11-30 11060395 d:Non-currentFinancialInstruments 2023-11-30 11060395 d:Non-currentFinancialInstruments 2022-11-30 11060395 d:CurrentFinancialInstruments d:WithinOneYear 2023-11-30 11060395 d:CurrentFinancialInstruments d:WithinOneYear 2022-11-30 11060395 d:Non-currentFinancialInstruments d:AfterOneYear 2023-11-30 11060395 d:Non-currentFinancialInstruments d:AfterOneYear 2022-11-30 11060395 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2023-11-30 11060395 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2022-11-30 11060395 d:ShareCapital 2023-11-30 11060395 d:ShareCapital 2022-11-30 11060395 d:RetainedEarningsAccumulatedLosses 2023-11-30 11060395 d:RetainedEarningsAccumulatedLosses 2022-11-30 11060395 d:FinancialAssetsDesignatedFairValueThroughProfitOrLoss 2023-11-30 11060395 d:FinancialAssetsDesignatedFairValueThroughProfitOrLoss 2022-11-30 11060395 c:FRS102 2022-12-01 2023-11-30 11060395 c:AuditExempt-NoAccountantsReport 2022-12-01 2023-11-30 11060395 c:FullAccounts 2022-12-01 2023-11-30 11060395 c:PrivateLimitedCompanyLtd 2022-12-01 2023-11-30 11060395 d:HirePurchaseContracts d:WithinOneYear 2023-11-30 11060395 d:HirePurchaseContracts d:WithinOneYear 2022-11-30 11060395 d:HirePurchaseContracts d:BetweenOneFiveYears 2023-11-30 11060395 d:HirePurchaseContracts d:BetweenOneFiveYears 2022-11-30 11060395 2 2022-12-01 2023-11-30 11060395 e:PoundSterling 2022-12-01 2023-11-30 iso4217:GBP xbrli:pure

Registered number: 11060395









WISEMAN FINANCE LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 30 NOVEMBER 2023

 
WISEMAN FINANCE LIMITED
REGISTERED NUMBER: 11060395

BALANCE SHEET
AS AT 30 NOVEMBER 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
106,616
144,367

  
106,616
144,367

Current assets
  

Debtors: amounts falling due within one year
 5 
70,513
42,144

Cash at bank and in hand
 6 
88,332
129,721

  
158,845
171,865

Creditors: amounts falling due within one year
 7 
(59,826)
(46,491)

Net current assets
  
 
 
99,019
 
 
125,374

Total assets less current liabilities
  
205,635
269,741

Creditors: amounts falling due after more than one year
 8 
(106,652)
(125,905)

  

Net assets
  
98,983
143,836


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
98,883
143,736

  
98,983
143,836


Page 1

 
WISEMAN FINANCE LIMITED
REGISTERED NUMBER: 11060395
    
BALANCE SHEET (CONTINUED)
AS AT 30 NOVEMBER 2023

The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 13 August 2024.


L Wiseman
Director

The notes on pages 3 to 9 form part of these financial statements.

Page 2

 
WISEMAN FINANCE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023

1.


General information

Wiseman Finance Limited, company registration number; 11060395, a private limited company limited by share capital, incorporated in England.
Registered office address; 3a Marston House, Cromwell Park, Banbury Road, Chipping Norton, Oxfordshire, England, OX7 5SR.
The principal activity of the company is that of financial intermediation

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.3

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

 
2.4

Interest income

Interest income is recognised in profit or loss using the effective interest method.

Page 3

 
WISEMAN FINANCE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023

2.Accounting policies (continued)

 
2.5

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.6

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
2.7

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
2.8

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

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

 
2.9

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Page 4

 
WISEMAN FINANCE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023

2.Accounting policies (continued)


2.9
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Motor vehicles
-
25%
Reducing balance
Fixtures and fittings
-
Straight Line 5 Years
Office equipment
-
Straight Line 3 Years

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.10

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.11

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.12

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.13

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the Company's Balance Sheet when the Company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried
Page 5

 
WISEMAN FINANCE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023

2.Accounting policies (continued)


2.13
Financial instruments (continued)

at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.

Other financial assets

Other financial assets, which includes investments in equity instruments which are not classified as subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the recognised transaction price. Such assets are subsequently measured at fair value with the changes in fair value being recognised in the profit or loss. Where other financial assets are not publicly traded, hence their fair value cannot be measured reliably, they are measured at cost less impairment.

Financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instruments any contract that evidences a residual interest in the assets of the Company after the deduction of all its liabilities.

Basic financial liabilities, which include trade and other payables, bank loans and other loans are initially measured at their transaction price after transaction costs. When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Discounting is omitted where the effect of discounting is immaterial.

Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.

Trade payables are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade payables are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade payables are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.

Other financial instruments

Derivatives, including forward exchange contracts, futures contracts and interest rate swaps, are not classified as basic financial instruments. These are initially recognised at fair value on the date the derivative contract is entered into, with costs being charged to the profit or loss. They are subsequently measured at fair value with changes in the profit or loss.

Debt instruments that do not meet the conditions as set out in FRS 102 paragraph 11.9 are subsequently measured at fair value through the profit or loss. This recognition and measurement would also apply to financial instruments where the performance is evaluated on a fair value basis as with a documented risk management or investment strategy.

Page 6

 
WISEMAN FINANCE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023

2.Accounting policies (continued)

 
2.14

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Employees

The average monthly number of employees, including directors, during the year was 7 (2022 - 11).


4.


Tangible fixed assets





Motor vehicles
Fixtures and fittings
Office equipment
Total

£
£
£
£



Cost or valuation


At 1 December 2022
130,115
22,983
32,791
185,889


Additions
-
1,903
976
2,879



At 30 November 2023

130,115
24,886
33,767
188,768



Depreciation


At 1 December 2022
9,380
9,710
22,432
41,522


Charge for the year on owned assets
-
4,747
5,699
10,446


Charge for the year on financed assets
30,184
-
-
30,184



At 30 November 2023

39,564
14,457
28,131
82,152



Net book value



At 30 November 2023
90,551
10,429
5,636
106,616



At 30 November 2022
120,735
13,273
10,359
144,367

Page 7

 
WISEMAN FINANCE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023

5.


Debtors

2023
2022
£
£


Trade debtors
22,770
2,460

Amounts owed by joint ventures and associated undertakings
8,877
10,780

Other debtors
38,866
28,904

70,513
42,144



6.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
88,332
129,721

88,332
129,721



7.


Creditors: Amounts falling due within one year

2023
2022
£
£

Bank loans
5,569
5,616

Corporation tax
33,396
25,716

Other taxation and social security
7,117
5

Obligations under finance lease and hire purchase contracts
13,744
13,744

Other creditors
-
1,410

59,826
46,491



8.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Bank loans
30,538
36,046

Net obligations under finance leases and hire purchase contracts
76,114
89,859

106,652
125,905


Page 8

 
WISEMAN FINANCE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023

9.


Loans


Analysis of the maturity of loans is given below:


2023
2022
£
£

Amounts falling due within one year

Bank loans
5,569
5,616


Amounts falling due 2-5 years

Bank loans
30,538
36,046


36,107
41,662



10.


Hire purchase and finance leases


Minimum lease payments under hire purchase fall due as follows:

2023
2022
£
£


Within one year
13,744
13,744

Between 1-5 years
76,114
89,859

89,858
103,603


11.


Financial instruments

2023
2022
£
£

Financial assets


Financial assets measured at fair value through profit or loss
88,332
129,721




Financial assets measured at fair value through profit or loss comprise; Cash at bank and in hand.


12.


Pension commitments

The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund. The pension costs charge represents contributions payable by the Company to the fun and amounted to £4,209 (2022 - £2,785). Contributions totalling £nil (2022 - £872) were payable to the fund at the balnace sheet date.

 
Page 9