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REGISTERED NUMBER: 02800889 (England and Wales)





UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST JANUARY 2024

FOR

WISEMONEY LIMITED

WISEMONEY LIMITED (REGISTERED NUMBER: 02800889)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST JANUARY 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


WISEMONEY LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31ST JANUARY 2024







DIRECTORS: M R Kinch
Mrs J A Kinch
A R Kinch
Mrs J S Kinch





SECRETARY: Mrs J S Kinch





REGISTERED OFFICE: 25 St Thomas Street
Winchester
Hampshire
SO23 9HJ





REGISTERED NUMBER: 02800889 (England and Wales)





ACCOUNTANTS: Martin and Company
25 St Thomas Street
Winchester
Hampshire
SO23 9HJ

WISEMONEY LIMITED (REGISTERED NUMBER: 02800889)

BALANCE SHEET
31ST JANUARY 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 986,463 986,890

CURRENT ASSETS
Debtors 5 34,764 38,801
Cash at bank and in hand 42,703 42,594
77,467 81,395
CREDITORS
Amounts falling due within one year 6 252,566 234,945
NET CURRENT LIABILITIES (175,099 ) (153,550 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

811,364

833,340

CREDITORS
Amounts falling due after more than one
year

7

(217,440

)

(249,584

)

PROVISIONS FOR LIABILITIES (667 ) (667 )
NET ASSETS 593,257 583,089

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 593,157 582,989
SHAREHOLDERS' FUNDS 593,257 583,089

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st January 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st January 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.

WISEMONEY LIMITED (REGISTERED NUMBER: 02800889)

BALANCE SHEET - continued
31ST JANUARY 2024


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.

The financial statements were approved by the Board of Directors and authorised for issue on 21st October 2024 and were signed on its behalf by:





Mrs J S Kinch - Director


WISEMONEY LIMITED (REGISTERED NUMBER: 02800889)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST JANUARY 2024


1. STATUTORY INFORMATION

Wisemoney 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.

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 as modified by the revaluation of certain assets.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Improvements to property - 10% on cost
Plant and machinery - 15% on reducing balance
Fixtures and fittings - 15% on reducing balance
Computer equipment - 15% on reducing balance

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 balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Investment properties
Investment property is shown at the most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit of loss.

WISEMONEY LIMITED (REGISTERED NUMBER: 02800889)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST JANUARY 2024


3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 3 ) .

4. TANGIBLE FIXED ASSETS
Improvements
Freehold to Plant and
property property machinery
£    £    £   
COST OR VALUATION
At 1st February 2023
and 31st January 2024 984,093 8,331 975
DEPRECIATION
At 1st February 2023 - 8,331 709
Charge for year - - 47
At 31st January 2024 - 8,331 756
NET BOOK VALUE
At 31st January 2024 984,093 - 219
At 31st January 2023 984,093 - 266

Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST OR VALUATION
At 1st February 2023
and 31st January 2024 15,050 4,916 1,013,365
DEPRECIATION
At 1st February 2023 14,433 3,002 26,475
Charge for year 93 287 427
At 31st January 2024 14,526 3,289 26,902
NET BOOK VALUE
At 31st January 2024 524 1,627 986,463
At 31st January 2023 617 1,914 986,890

WISEMONEY LIMITED (REGISTERED NUMBER: 02800889)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST JANUARY 2024


4. TANGIBLE FIXED ASSETS - continued

Cost or valuation at 31st January 2024 is represented by:

Improvements
Freehold to Plant and
property property machinery
£    £    £   
Valuation in 2014 (22,624 ) - -
Cost 1,006,717 8,331 975
984,093 8,331 975

Fixtures
and Computer
fittings equipment Totals
£    £    £   
Valuation in 2014 - - (22,624 )
Cost 15,050 4,916 1,035,989
15,050 4,916 1,013,365

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 16,190 19,969
Other debtors 15,624 15,624
VAT 1,350 1,631
Prepayments and accrued income 1,600 1,577
34,764 38,801

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 32,134 30,197
Trade creditors 14,091 16,577
Tax 7,162 1,868
Directors' current accounts 187,669 176,606
Accruals and deferred income 11,510 9,697
252,566 234,945

WISEMONEY LIMITED (REGISTERED NUMBER: 02800889)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST JANUARY 2024


7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans - 1-2 years 34,266 32,144
Bank loans - 2-5 years 114,844 109,649
Bank loans more 5 yr by instal 18,330 57,791
Directors' loan accounts 50,000 50,000
217,440 249,584

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 18,330 57,791

8. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 199,574 229,781

The bank loans are secured by the company's freehold properties.