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Company No: 08589400 (England and Wales)

WISDOM GLOBAL LIMITED

Unaudited Financial Statements
For the financial period from 01 December 2022 to 31 December 2023
Pages for filing with the registrar

WISDOM GLOBAL LIMITED

Unaudited Financial Statements

For the financial period from 01 December 2022 to 31 December 2023

Contents

WISDOM GLOBAL LIMITED

COMPANY INFORMATION

For the financial period from 01 December 2022 to 31 December 2023
WISDOM GLOBAL LIMITED

COMPANY INFORMATION (continued)

For the financial period from 01 December 2022 to 31 December 2023
DIRECTORS Anna Lane
Alison Jane Malton
Henry Bruce Weatherill
REGISTERED OFFICE 1 Poultry C/O Praxis
London
EC2R 8EJ
England
United Kingdom
COMPANY NUMBER 08589400 (England and Wales)
CHARTERED ACCOUNTANTS Praxis
1 Poultry
London
EC2R 8EJ
WISDOM GLOBAL LIMITED

BALANCE SHEET

As at 31 December 2023
WISDOM GLOBAL LIMITED

BALANCE SHEET (continued)

As at 31 December 2023
Note 31.12.2023 30.11.2022
£ £
Fixed assets
Intangible assets 3 17,209 21,000
Tangible assets 4 45,033 67,111
62,242 88,111
Current assets
Debtors 5 525,450 333,389
Cash at bank and in hand 344,283 193,166
869,733 526,555
Creditors: amounts falling due within one year 6 ( 498,336) ( 276,238)
Net current assets 371,397 250,317
Total assets less current liabilities 433,639 338,428
Creditors: amounts falling due after more than one year 7 ( 14,810) ( 25,785)
Net assets 418,829 312,643
Capital and reserves
Called-up share capital 8 230,129 230,129
Share premium account 334,723 334,723
Profit and loss account ( 146,023 ) ( 252,209 )
Total shareholders' funds 418,829 312,643

For the financial period ending 31 December 2023 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of Wisdom Global Limited (registered number: 08589400) were approved and authorised for issue by the Board of Directors on 15 August 2024. They were signed on its behalf by:

Anna Lane
Director
WISDOM GLOBAL LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial period from 01 December 2022 to 31 December 2023
WISDOM GLOBAL LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial period from 01 December 2022 to 31 December 2023
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial period and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Wisdom Global Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is 1 Poultry C/O Praxis, London, EC2R 8EJ, England, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The directors have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Turnover

Turnover is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer. Turnover from the supply of services represents the value of services provided under contracts to the extent that there is a right to consideration and is recorded at the fair value of the consideration received or receivable. Where a contract has only been partially completed at the Balance Sheet date turnover represents the fair value of the service provided to date based on the stage of completion of the contract activity at the Balance Sheet date. Where payments are received from customers in advance of services provided, the amounts are recorded as deferred income and included as part of creditors due within one year.

Employee benefits

Short term benefits
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised as an expense when the Company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

Defined contribution schemes
The Company operates a defined contribution scheme. The amount charged to the Statement of Income and Retained Earnings in respect of pension costs and other post-retirement benefits is the contributions payable in the financial period. Differences between contributions payable in the financial period and contributions actually paid are included as either accruals or prepayments in the Balance Sheet.

Share-based payment

Equity-settled share-based payment transactions are measured at fair value at the date of grant. The fair value determined at the grant date of the equity-settled share-based payments is expensed on a straight-line basis over the vesting period, based on the Company’s estimate of shares that will eventually vest and adjusted for the effect of non-market-based vesting conditions.

Fair value is measured by use of the [appropriate pricing] model which is considered by management to be the most appropriate method of valuation. The expected life used in the model has been adjusted, based on management’s best estimate, for the effects of non-transferability, exercise restrictions, and behavioural considerations.

Cancellations or settlements (including those resulting from employee redundancies) are treated as an acceleration of vesting and the amount that would have been recognised over the remaining vesting period is recognised immediately.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Other intangible assets 3 - 10 years straight line
Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Plant and machinery etc. 4 - 10 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Leases

The Company as lessee
Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

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

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method 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. Financial assets classified as receivable within one year are not amortised.

Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

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

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

Equity instruments
Equity instruments issued by the Company are recorded at the fair value of cash or other resources received or receivable, net of direct issue costs. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the Company.

2. Employees

Period from
01.12.2022 to
31.12.2023
Year ended
30.11.2022
Number Number
Monthly average number of persons employed by the Company during the period, including directors 12 13

3. Intangible assets

Other intangible assets Total
£ £
Cost
At 01 December 2022 116,000 116,000
At 31 December 2023 116,000 116,000
Accumulated amortisation
At 01 December 2022 95,000 95,000
Charge for the financial period 3,791 3,791
At 31 December 2023 98,791 98,791
Net book value
At 31 December 2023 17,209 17,209
At 30 November 2022 21,000 21,000

4. Tangible assets

Plant and machinery etc. Total
£ £
Cost
At 01 December 2022 230,545 230,545
Additions 2,215 2,215
At 31 December 2023 232,760 232,760
Accumulated depreciation
At 01 December 2022 163,434 163,434
Charge for the financial period 24,293 24,293
At 31 December 2023 187,727 187,727
Net book value
At 31 December 2023 45,033 45,033
At 30 November 2022 67,111 67,111

5. Debtors

31.12.2023 30.11.2022
£ £
Trade debtors 398,815 204,545
Corporation tax 28,980 28,980
Other debtors 97,655 99,864
525,450 333,389

Included within other debtors is a loan to a director amounting to £89,169 (2022: £89,169). The loan does not bear interest and no repayment date has been set.

6. Creditors: amounts falling due within one year

31.12.2023 30.11.2022
£ £
Bank loans 10,140 9,869
Trade creditors 136,572 69,440
Taxation and social security 205,014 74,945
Other creditors 146,610 121,984
498,336 276,238

There is an amount of £19,798 (2022: £38,653) included above in respect of which security has been given by the small entity by way of a fixed and floating charge over all present and future property of the company.

7. Creditors: amounts falling due after more than one year

31.12.2023 30.11.2022
£ £
Bank loans 14,810 25,785

There are no amounts included above in respect of which any security has been given by the small entity.

8. Called-up share capital

31.12.2023 30.11.2022
£ £
Allotted, called-up and fully-paid
12,915 Ordinary shares of £ 0.01 each 129 129
230 Preference shares of £ 1,000.00 each 230,000 230,000
230,129 230,129

9. Financial commitments

Commitments

31.12.2023 30.11.2022
£ £
Total future minimum lease payments under non-cancellable operating lease 35,724 35,724

Pensions

The Company operates a defined contribution pension scheme for the directors and employees. The assets of the scheme are held separately from those of the Company in an independently administered fund.

31.12.2023 30.11.2022
£ £
Unpaid contributions due to the fund (inc. in other creditors) 5,388 2,247

10. Events after the Balance Sheet date

There have been no events after the balance sheet date affecting the Company since the financial period.