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WIZU WORKSPACE (SHEFF) LIMITED

Registered Number
12090525
(England and Wales)

Unaudited Financial Statements for the Year ended
30 April 2024

WIZU WORKSPACE (SHEFF) LIMITED
Company Information
for the year from 1 May 2023 to 30 April 2024

Directors

ALMAS, Thomas
GUGGENHEIM, John Michael
MAPP, Chris
MAPP, Joanna

Registered Address

30-34 Park Cross Street
Leeds
LS1 2QH

Registered Number

12090525 (England and Wales)
WIZU WORKSPACE (SHEFF) LIMITED
Balance Sheet as at
30 April 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Intangible assets319,2365,281
Tangible assets4276,308216,270
295,544221,551
Current assets
Debtors5278,500227,517
Cash at bank and on hand11,7483,379
290,248230,896
Creditors amounts falling due within one year6(646,930)(487,801)
Net current assets (liabilities)(356,682)(256,905)
Total assets less current liabilities(61,138)(35,354)
Creditors amounts falling due after one year7(32,926)(55,148)
Net assets(94,064)(90,502)
Capital and reserves
Called up share capital11
Profit and loss account(94,065)(90,503)
Shareholders' funds(94,064)(90,502)
The financial statements were approved and authorised for issue by the Board of Directors on 5 January 2025, and are signed on its behalf by:
GUGGENHEIM, John Michael
Director
Registered Company No. 12090525
WIZU WORKSPACE (SHEFF) LIMITED
Notes to the Financial Statements
for the year ended 30 April 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the financial reporting standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Going concern
After reviewing the company's forecasts and projections, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The company therefore continues to adopt the going concern basis of accounting in preparing its financial statements.
Turnover policy
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services.
Defined contribution pension plan
The company operates a defined contribution pension plan for the benefit of its employees. Contributions are recognised as expenses as they become payable. Differences between contributions payable in the year and those actually paid are recognised as either prepayments or accruals in the balance sheet. The assets of the defined contribution pension scheme are held separately from those of the company in an independently administered fund.
Current taxation
Current tax is recognised in profit or loss, except for taxes related to revaluations of land and buildings which are recognised in other comprehensive income. Current tax represents the amount of tax payable (receivable) in respect of taxable profit (loss) for the current, or past, reporting periods. Current tax is measured at the amount expected to be paid (recovered) using the tax rates and laws which have been enacted, or substantively enacted, by the balance sheet date. Where payments to HM Revenue and Customs exceed liabilities owed, an asset is recognised to the extent of the amount of tax recoverable.
Deferred tax
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Intangible assets
Intangible assets are stated at cost or valuation less amortisation.
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:

Straight line (years)
Fixtures and fittings10
Office Equipment7
Trade and other debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Trade and other creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Related parties
For the purposes of these financial statements, a related party could be a person or an entity. Careful consideration is given to the definition of a related party to ensure that all related party relationships, transactions and balances are identified.
2.Average number of employees

20242023
Average number of employees during the year34
3.Intangible assets

Other

Total

££
Cost or valuation
At 01 May 235,3705,370
Additions15,25515,255
At 30 April 2420,62520,625
Amortisation and impairment
At 01 May 238989
Charge for year1,3001,300
At 30 April 241,3891,389
Net book value
At 30 April 2419,23619,236
At 30 April 235,2815,281
4.Tangible fixed assets

Land & buildings

Fixtures & fittings

Office Equipment

Total

££££
Cost or valuation
At 01 May 23153,2141,063208,139362,416
Additions121,25744,1262,147167,530
Disposals(69,818)--(69,818)
At 30 April 24204,65345,189210,286460,128
Depreciation and impairment
At 01 May 2323,16644122,936146,146
Charge for year18,8751,13823,32743,340
On disposals(5,666)--(5,666)
At 30 April 2436,3751,182146,263183,820
Net book value
At 30 April 24168,27844,00764,023276,308
At 30 April 23130,0481,01985,203216,270
5.Debtors: amounts due within one year

2024

2023

££
Trade debtors / trade receivables5,25753,373
Amounts owed by group undertakings198,511122,173
Other debtors-3,957
Prepayments and accrued income60,81725,677
Deferred tax asset, debtors13,91522,337
Total278,500227,517
6.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables233,690229,119
Bank borrowings and overdrafts22,26522,265
Amounts owed to related parties361,526214,282
Taxation and social security4,6382,135
Accrued liabilities and deferred income24,81120,000
Total646,930487,801
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
7.Creditors: amounts due after one year

2024

2023

££
Bank borrowings and overdrafts32,92655,148
Total32,92655,148
8.Related party transactions
Hii Fitness Ltd: The company is related to Wizu Workspace (Sheff) Limited by virtue of common shareholders and Directors. The amount due from Hii Fitness Ltd at the balance sheet date was £91,927 (2023: £39,590). Wizu Holdings Ltd: The company is related to Wizu Workspace (Sheff) Limited by virtue of common shareholders and Directors. The amount owed to Wizu Holdings Ltd at the balance sheet date was £358,661 (2023: £201,023). Wizu Offices Ltd: The company is related to Wizu Workspace (Sheff) Limited by virtue of common shareholders and Directors. The amount due from Wizu Offices Ltd at the balance sheet date was £29,180 (2023: £28,379). Wizu Virtual Office Ltd: The company is related to Wizu Workspace (Sheff) Limited by virtue of common shareholders and Directors. The amount due from Wizu Virtual Office Ltd at the balance sheet date was £475 (2023: £10,753 owed to). Wizu Workspace (Leeds) Ltd: The company is related to Wizu Workspace (Sheff) Limited by virtue of common shareholders and Directors. The amount due from Wizu Workspace (Leeds) Ltd at the balance sheet date was £76,799 (2023: £15,851). Wizu Workspace (Glasgow) Ltd: The company is related to Wizu Workspace (Sheff) Limited by virtue of common shareholders and Directors. The amount owed to Wizu Workspace (Glasgow) Ltd at the balance sheet date was £360.00 (2023: £38,353 due from). Wizu Workspace (Lawnswood) Ltd: The company is related to Wizu Workspace (Sheff) Limited by virtue of common shareholders and Directors. The amount due from Wizu Workspace (Lawnswood) Ltd at the balance sheet date was £132 (2023: £nil).