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REGISTERED NUMBER: 01239959 (England and Wales)















Unaudited Financial Statements

for the Year Ended 29 February 2024

for

Wise Handling Limited

Wise Handling Limited (Registered number: 01239959)






Contents of the Financial Statements
for the Year Ended 29 February 2024




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4

Chartered Accountants' Report 9

Wise Handling Limited

Company Information
for the Year Ended 29 February 2024







DIRECTORS: J K Watson
P S Illingworth
A D Bates
T Sutcliffe





SECRETARY: P S Illingworth





REGISTERED OFFICE: Haworth Road
Cullingworth
Bradford
West Yorkshire
BD13 5DU





REGISTERED NUMBER: 01239959 (England and Wales)





ACCOUNTANTS: Stirk Lambert & Co
Chartered Accountants
Russell Chambers
61a North Street
Keighley
West Yorkshire
BD21 3DS

Wise Handling Limited (Registered number: 01239959)

Statement of Financial Position
29 February 2024

29.2.24 28.2.23
Notes £    £   
FIXED ASSETS
Tangible assets 5 96,669 110,205

CURRENT ASSETS
Stocks 6 303,804 339,913
Debtors 7 1,012,457 856,661
Cash at bank and in hand 1,683,028 1,334,554
2,999,289 2,531,128
CREDITORS
Amounts falling due within one year 8 (2,251,207 ) (1,424,678 )
NET CURRENT ASSETS 748,082 1,106,450
TOTAL ASSETS LESS CURRENT
LIABILITIES

844,751

1,216,655

CREDITORS
Amounts falling due after more than one
year

9

(9,783

)

(15,653

)

PROVISIONS FOR LIABILITIES 11 (6,328 ) (6,704 )
NET ASSETS 828,640 1,194,298

CAPITAL AND RESERVES
Called up share capital 10,000 10,000
Retained earnings 818,640 1,184,298
SHAREHOLDERS' FUNDS 828,640 1,194,298

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29 February 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 29 February 2024 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.

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.

Wise Handling Limited (Registered number: 01239959)

Statement of Financial Position - continued
29 February 2024



The financial statements were approved by the Board of Directors and authorised for issue on 9 September 2024 and were signed on its behalf by:





J K Watson - Director


Wise Handling Limited (Registered number: 01239959)

Notes to the Financial Statements
for the Year Ended 29 February 2024

1. STATUTORY INFORMATION

Wise Handling 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.

The presentation currency of the financial statements is the Pound Sterling (£).


2. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

Turnover
Turnover represents the amounts received or receivable for goods and services provided to customers, excluding VAT.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its expected useful life.

Freehold property2% to 25% on cost
Plant & machinery10% to 25% on cost
Fixtures & fittings10% to 50% on cost
Motor vehicles25% on cost
Computer equipment25% to 50% on cost

Stock and work in progress
Stock and work in progress is stated at the lower of cost and net realisable value.

In the case of raw materials and consumable stores, cost means purchase price including transport and handling costs, less trade discounts, calculated on a first in first out basis. In the case of work in progress, cost consists of direct materials, direct labour and attributable production overheads. The amount of work in progress has been reduced by progress payments.

Net realisable value means estimated selling price (less trade discounts) less all further costs to completion and all costs to be incurred in marketing, selling and distribution.

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 statement of financial position date.


Wise Handling Limited (Registered number: 01239959)

Notes to the Financial Statements - continued
for the Year Ended 29 February 2024

3. 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.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the statement of financial position date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Hire purchase and leasing commitments
Assets obtained under hire purchase commitments or finance leases are capitalised in the balance sheet and depreciated over their expected useful lives.

The interest element of the rental obligation is charged to the profit and loss account over the relevant period. The capital element of the future payments is treated as liability.

Rentals payable under operating leases are charged to the profit and loss account as incurred.

Pension costs and other post-retirement benefits
The company operates a number of defined contribution pension schemes. Contributions payable for the year are charged in the profit and loss account.

Government grants
Government grants in respect of capital expenditure are credited to the profit and loss account over the estimated useful life of the relevant fixed assets. The grants shown in the balance sheet as deferred credits represent the total grants receivable to date less the amounts so far credited to profits.

Research and development
Research and development is charged to the profit and loss account during the period in which it is incurred.

Investments
Listed investments are stated at market value.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 19 (2023 - 21 ) .

Wise Handling Limited (Registered number: 01239959)

Notes to the Financial Statements - continued
for the Year Ended 29 February 2024

5. TANGIBLE FIXED ASSETS
Freehold Plant & Fixtures
property machinery & fittings
£    £    £   
COST
At 1 March 2023 356,157 294,513 69,636
Additions - 8,215 -
At 29 February 2024 356,157 302,728 69,636
DEPRECIATION
At 1 March 2023 279,572 293,180 63,952
Charge for year 5,872 2,113 3,869
At 29 February 2024 285,444 295,293 67,821
NET BOOK VALUE
At 29 February 2024 70,713 7,435 1,815
At 28 February 2023 76,585 1,333 5,684

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 March 2023 50,038 165,322 935,666
Additions - - 8,215
At 29 February 2024 50,038 165,322 943,881
DEPRECIATION
At 1 March 2023 28,344 160,413 825,461
Charge for year 5,862 4,035 21,751
At 29 February 2024 34,206 164,448 847,212
NET BOOK VALUE
At 29 February 2024 15,832 874 96,669
At 28 February 2023 21,694 4,909 110,205

Wise Handling Limited (Registered number: 01239959)

Notes to the Financial Statements - continued
for the Year Ended 29 February 2024

5. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Computer
equipment
£   
COST
At 1 March 2023
and 29 February 2024 45,913
DEPRECIATION
At 1 March 2023 42,086
Charge for year 3,827
At 29 February 2024 45,913
NET BOOK VALUE
At 29 February 2024 -
At 28 February 2023 3,827

6. STOCKS
29.2.24 28.2.23
£    £   
Raw materials & consumables 122,028 163,774
Work in progress 1,128,792 382,050
Payments on account (947,016 ) (205,911 )
303,804 339,913

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
29.2.24 28.2.23
£    £   
Trade debtors 927,700 824,466
Value added tax 60,605 -
Prepayments & accrued income 24,152 32,195
1,012,457 856,661

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
29.2.24 28.2.23
£    £   
Hire purchase contracts 5,870 5,870
Trade creditors 380,884 201,850
Social security & other taxes 17,166 12,703
Value added tax - 5,438
Other creditors 249,069 277,839
Payments on account 744,329 332,220
Regional development grant 1,749 2,054
Accrued expenses 852,140 586,704
2,251,207 1,424,678

Wise Handling Limited (Registered number: 01239959)

Notes to the Financial Statements - continued
for the Year Ended 29 February 2024

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
29.2.24 28.2.23
£    £   
Hire purchase contracts 9,783 15,653

10. SECURED DEBTS

The following secured debts are included within creditors:

29.2.24 28.2.23
£    £   
Hire purchase contracts 15,653 21,407

11. PROVISIONS FOR LIABILITIES
29.2.24 28.2.23
£    £   
Deferred tax 6,328 6,704

Deferred
tax
£   
Balance at 1 March 2023 6,704
Provided during year (376 )
Transfer-profit and loss
Balance at 29 February 2024 6,328

12. ULTIMATE CONTROLLING PARTY

The directors control the company by virtue of their shareholdings.

Chartered Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
Wise Handling Limited

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Statement of Financial Position. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Wise Handling Limited for the year ended 29 February 2024 which comprise the Statement of Income and Retained Earnings, Statement of Financial Position and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Wise Handling Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Wise Handling Limited and state those matters that we have agreed to state to the Board of Directors of Wise Handling Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Wise Handling Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Wise Handling Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Wise Handling Limited. You consider that Wise Handling Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Wise Handling Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Stirk Lambert & Co
Chartered Accountants
Russell Chambers
61a North Street
Keighley
West Yorkshire
BD21 3DS


9 September 2024