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REGISTERED NUMBER: 09569445 (England and Wales)










Unaudited Financial Statements for the Year Ended 31 December 2024

for

BenefitsWise Limited

BenefitsWise Limited (Registered number: 09569445)






Contents of the Financial Statements
for the Year Ended 31 December 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


BenefitsWise Limited

Company Information
for the Year Ended 31 December 2024







DIRECTOR: Mrs E A Mccullough





REGISTERED OFFICE: 122 Feering Hill
Feering
Colchester
Essex
CO5 9PY





REGISTERED NUMBER: 09569445 (England and Wales)





ACCOUNTANTS: Granite Morgan Smith Limited
122 Feering Hill
Feering
Colchester
Essex
CO5 9PY

BenefitsWise Limited (Registered number: 09569445)

Balance Sheet
31 December 2024

31.12.24 31.12.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 - 2,152
- 2,152

CURRENT ASSETS
Debtors 6 - 27,046
Cash at bank 165 53,214
165 80,260
CREDITORS
Amounts falling due within one year 7 - 9,827
NET CURRENT ASSETS 165 70,433
TOTAL ASSETS LESS CURRENT
LIABILITIES

165

72,585

PROVISIONS FOR LIABILITIES 60 -
NET ASSETS 105 72,585

CAPITAL AND RESERVES
Called up share capital 48 48
Share premium - 149,994
Retained earnings 57 (77,457 )
SHAREHOLDERS' FUNDS 105 72,585

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her 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.

BenefitsWise Limited (Registered number: 09569445)

Balance Sheet - continued
31 December 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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 27 January 2025 and were signed by:





Mrs E A Mccullough - Director


BenefitsWise Limited (Registered number: 09569445)

Notes to the Financial Statements
for the Year Ended 31 December 2024

1. STATUTORY INFORMATION

BenefitsWise 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.

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

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Patents and licences are being amortised evenly over their estimated useful life of four years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 25% on cost, 20% on reducing balance and Straight line over 3 years

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

BenefitsWise Limited (Registered number: 09569445)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2024

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - 1 ) .

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1 January 2024
and 31 December 2024 1,994
AMORTISATION
At 1 January 2024
and 31 December 2024 1,994
NET BOOK VALUE
At 31 December 2024 -
At 31 December 2023 -

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 January 2024 51,060
Additions 857
Disposals (3,200 )
At 31 December 2024 48,717
DEPRECIATION
At 1 January 2024 48,908
Charge for year 1,787
Eliminated on disposal (1,978 )
At 31 December 2024 48,717
NET BOOK VALUE
At 31 December 2024 -
At 31 December 2023 2,152

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.24 31.12.23
£    £   
Trade debtors - 3,650
Other debtors - 23,396
- 27,046

BenefitsWise Limited (Registered number: 09569445)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2024

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.24 31.12.23
£    £   
Trade creditors - (52 )
Taxation and social security - 7,934
Other creditors - 1,945
- 9,827

8. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

At the balance sheet date, the company owed the director £Nil (2023- £Nil) in respect of her loan account. This loan is interest free and repayable on demand.