Caseware UK (AP4) 2023.0.135 2023.0.135 2024-03-312024-03-312023-04-01falseNo description of principal activity22truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 01700997 2023-04-01 2024-03-31 01700997 2022-05-01 2023-03-31 01700997 2024-03-31 01700997 2023-03-31 01700997 2022-05-01 01700997 c:Director4 2023-04-01 2024-03-31 01700997 c:Director5 2023-04-01 2024-03-31 01700997 d:Buildings 2023-04-01 2024-03-31 01700997 d:OtherPropertyPlantEquipment 2023-04-01 2024-03-31 01700997 d:OtherPropertyPlantEquipment 2024-03-31 01700997 d:OtherPropertyPlantEquipment 2023-03-31 01700997 d:OtherPropertyPlantEquipment d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 01700997 d:PatentsTrademarksLicencesConcessionsSimilar 2023-04-01 2024-03-31 01700997 d:PatentsTrademarksLicencesConcessionsSimilar 2024-03-31 01700997 d:PatentsTrademarksLicencesConcessionsSimilar 2023-03-31 01700997 d:CurrentFinancialInstruments 2024-03-31 01700997 d:CurrentFinancialInstruments 2023-03-31 01700997 d:CurrentFinancialInstruments d:WithinOneYear 2024-03-31 01700997 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 01700997 d:ShareCapital 2024-03-31 01700997 d:ShareCapital 2023-03-31 01700997 d:CapitalRedemptionReserve 2023-04-01 2024-03-31 01700997 d:CapitalRedemptionReserve 2024-03-31 01700997 d:CapitalRedemptionReserve 2023-03-31 01700997 d:RetainedEarningsAccumulatedLosses 2023-04-01 2024-03-31 01700997 d:RetainedEarningsAccumulatedLosses 2024-03-31 01700997 d:RetainedEarningsAccumulatedLosses 2023-03-31 01700997 c:FRS102 2023-04-01 2024-03-31 01700997 c:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 01700997 c:FullAccounts 2023-04-01 2024-03-31 01700997 c:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 01700997 4 2023-04-01 2024-03-31 01700997 6 2023-04-01 2024-03-31 01700997 d:AcceleratedTaxDepreciationDeferredTax 2024-03-31 01700997 d:AcceleratedTaxDepreciationDeferredTax 2023-03-31 01700997 e:PoundSterling 2023-04-01 2024-03-31 iso4217:GBP xbrli:pure

Registered number: 01700997










WISHSIGHT LIMITED








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MARCH 2024

 
WISHSIGHT LIMITED
REGISTERED NUMBER:01700997

STATEMENT OF FINANCIAL POSITION
AS AT 31 MARCH 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 5 
11,162
13,407

Investments
 6 
32,878
32,878

  
44,040
46,285

Current assets
  

Stocks
 7 
43,398
72,346

Debtors: amounts falling due within one year
 8 
78,413
81,461

Cash at bank and in hand
  
105,535
463,595

  
227,346
617,402

Creditors: amounts falling due within one year
 9 
(41,494)
(467,250)

Net current assets
  
 
 
185,852
 
 
150,152

Total assets less current liabilities
  
229,892
196,437

  

Net assets
  
229,892
196,437


Capital and reserves
  

Called up share capital 
  
200
200

Capital redemption reserve
  
201
201

Profit and loss account
  
229,491
196,036

  
229,892
196,437


Page 1

 
WISHSIGHT LIMITED
REGISTERED NUMBER:01700997
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 MARCH 2024

The directors consider 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 directors acknowledge their 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 income statement 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 by: 




F R C Rush
Dr J E Gaddie
Director
Director


Date: 17 September 2024

Page 2

 
WISHSIGHT LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1.


General information

Wishsight Limited is a private company limited by shares and incorporated in England and Wales, registration number 01700997. The registered office is Hall Farm, Shimpling, Bury St Edmunds, Suffolk, IP29 4HF.

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 FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest £.
The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated. 

 
2.2

Turnover

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the Company and the turnover can be reliably measured. Turnover 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 turnover is recognised:

Sale of goods

Turnover from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of turnover can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Page 3

 
WISHSIGHT LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.3

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. 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 reporting date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

 
2.4

Exceptional items

Exceptional items are transactions that fall within the ordinary activities of the Company but are presented separately due to their size or incidence.

 
2.5

Intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

 
2.6

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

 
WISHSIGHT LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)


2.6
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Property improvements
-
10% straight line
Other fixed assets
-
15 - 25% reducing balance

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.

 
2.7

Valuation of investments

Investments held as fixed assets are shown at cost less provision for impairment.

 
2.8

Stocks

Stocks are valued at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Biological assets and living plants are included at cost.
At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss. 

 
2.9

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.

 
2.10

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.

 
2.11

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.

Page 5

 
WISHSIGHT LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.12

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.

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 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.

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.

 
2.13

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 2 (2023 - 2).

Page 6

 
WISHSIGHT LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

4.


Intangible assets




BPS entitlements

£





At 1 April 2023
13,628


Disposals
(13,628)



At 31 March 2024

-





At 1 April 2023
13,628


On disposals
(13,628)



At 31 March 2024

-



Net book value



At 31 March 2024
-



At 31 March 2023
-



Page 7

 
WISHSIGHT LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

5.


Tangible fixed assets





Other fixed assets

£



Cost or valuation


At 1 April 2023
31,550


Disposals
(4,000)



At 31 March 2024

27,550



Depreciation


At 1 April 2023
18,143


Charge for the year on owned assets
1,970


Disposals
(3,725)



At 31 March 2024

16,388



Net book value



At 31 March 2024
11,162



At 31 March 2023
13,407


6.


Fixed asset investments





Unlisted investments

£



Cost or valuation


At 1 April 2023
32,878



At 31 March 2024
32,878




Page 8

 
WISHSIGHT LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

7.


Stocks

2024
2023
£
£

Raw materials and consumables
9,273
13,782

Growing crops
30,882
36,596

Crops in store
3,243
21,968

43,398
72,346



8.


Debtors

2024
2023
£
£


Trade debtors
74,865
77,456

Other debtors
1,706
1,937

Prepayments and accrued income
404
438

Deferred taxation
1,438
1,630

78,413
81,461



9.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
13,448
9,901

Corporation tax
9,285
44,599

Other creditors
14,257
409,231

Accruals and deferred income
4,504
3,519

41,494
467,250


Page 9

 
WISHSIGHT LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

10.


Deferred taxation




2024
2023


£

£






At beginning of year
1,630
1,049


Charged to profit or loss
(192)
581



At end of year
1,438
1,630

The deferred tax asset is made up as follows:

2024
2023
£
£


Accelerated capital allowances
1,438
1,630

1,438
1,630


11.


Reserves

Capital redemption reserve

This reserve records the nominal value of shares repurchased by the company.

Profit & loss account

The profit and loss account includes all current and prior period retained profits and losses.


Page 10