Company registration number 09603286 (England and Wales)
WIZARD PI LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024
PAGES FOR FILING WITH REGISTRAR
WIZARD PI LTD
COMPANY INFORMATION
Director
Mr J R Harvey
Company number
09603286
Registered office
Studio 5, Offerton Barns
Offerton Lane
Hindlip
Worcestershire
WR3 8SX
Accountants
Ormerod Rutter Limited
The Oakley
Kidderminster Road
Droitwich
Worcestershire
WR9 9AY
Bankers
Metro Bank Plc
1 Southampton Row
London
WC1B 5HA
WIZARD PI LTD
CONTENTS
Page
Accountants' report
1
Balance sheet
2 - 3
Notes to the financial statements
4 - 7
WIZARD PI LTD
ACCOUNTANTS' REPORT TO THE DIRECTOR ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF WIZARD PI LTD FOR THE YEAR ENDED 30 SEPTEMBER 2024
- 1 -

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Wizard PI Ltd for the year ended 30 September 2024 which comprise, the balance sheet 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 at https://www.icaew.com/regulation.

This report is made solely to the board of directors of Wizard PI Ltd, 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 Wizard PI Ltd and state those matters that we have agreed to state to the board of directors of Wizard PI Ltd, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Wizard PI Ltd and its board of directors as a body, for our work or for this report.

It is your duty to ensure that Wizard PI Ltd 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 profit of Wizard PI Ltd. You consider that Wizard PI Ltd 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 Wizard PI Ltd. 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.

Ormerod Rutter Limited
24 February 2025
Chartered Accountants
The Oakley
Kidderminster Road
Droitwich
Worcestershire
WR9 9AY
WIZARD PI LTD
BALANCE SHEET
AS AT
30 SEPTEMBER 2024
30 September 2024
- 2 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
55,614
61,494
Current assets
Stocks
64,672
60,725
Debtors
4
81,700
38,119
Cash at bank and in hand
3,454
5,009
149,826
103,853
Creditors: amounts falling due within one year
5
(150,022)
(106,708)
Net current liabilities
(196)
(2,855)
Total assets less current liabilities
55,418
58,639
Creditors: amounts falling due after more than one year
6
(33,110)
(44,584)
Provisions for liabilities
8
(12,149)
(11,924)
Net assets
10,159
2,131
Capital and reserves
Called up share capital
9
100
100
Profit and loss reserves
10,059
2,031
Total equity
10,159
2,131

The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 30 September 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

WIZARD PI LTD
BALANCE SHEET (CONTINUED)
AS AT
30 SEPTEMBER 2024
30 September 2024
- 3 -
The financial statements were approved and signed by the director and authorised for issue on 24 February 2025
Mr J R Harvey
Director
Company registration number 09603286 (England and Wales)
WIZARD PI LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024
- 4 -
1
Accounting policies
Company information

Wizard PI Ltd is a private company limited by shares incorporated in England and Wales. The registered office is Studio 5, Offerton Barns, Offerton Lane, Hindlip, Worcestershire, WR3 8SX.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for services provided in the normal course of business, and is shown net of VAT.

Revenue from the provision of services is recognised by reference to the stage of completion, when the costs incurred and costs to complete can be estimated reliably.

1.3
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Computer equipment
25% on reducing balance
Motor vehicles
25% on reducing balance

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.

1.4
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

 

Stocks held for distribution at no or nominal consideration are measured at the lower of cost and replacement cost, adjusted where applicable for any loss of service potential.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

1.5
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

WIZARD PI LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
1
Accounting policies
(Continued)
- 5 -
Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

 

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

1.6
Employee benefits

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

1.7
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.8
Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.

 

Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the balance sheet as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to profit or loss so as to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
16
11
WIZARD PI LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
- 6 -
3
Tangible fixed assets
Computer equipment
Motor vehicles
Total
£
£
£
Cost
At 1 October 2023
33,620
50,420
84,040
Additions
12,783
-
0
12,783
Disposals
(4,698)
-
0
(4,698)
At 30 September 2024
41,705
50,420
92,125
Depreciation and impairment
At 1 October 2023
9,154
13,392
22,546
Depreciation charged in the year
8,391
9,257
17,648
Eliminated in respect of disposals
(3,683)
-
0
(3,683)
At 30 September 2024
13,861
22,650
36,511
Carrying amount
At 30 September 2024
27,844
27,770
55,614
At 30 September 2023
24,466
37,028
61,494
4
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
66,046
22,324
Other debtors
15,654
15,795
81,700
38,119
5
Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts
7,087
6,389
Trade creditors
3,092
281
Taxation and social security
86,673
43,909
Other creditors
53,170
56,129
150,022
106,708
WIZARD PI LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
- 7 -
6
Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
4,742
10,573
Other creditors
28,368
34,011
33,110
44,584
7
Secured debts
The following secured debts are included within creditors:
2024
2023
£
£
Hire purchase contracts
34,011
39,654
Bank overdrafts
901
-
0
Bank loans
10,928
16,962
45,840
56,616
Hire purchase contracts are secured against the assets to which they relate.
Bank loans are secured by way of a government-backed guarantee.
8
Provisions for liabilities
2024
2023
£
£
Deferred tax liabilities
12,149
11,924
9
Called up share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary of £1 each
100
100
100
100
10
Ultimate controlling party

The ultimate controlling party is Mr J R Harvey and Mrs S L Harvey.

2024-09-302023-10-01falsefalsefalse24 February 2025CCH SoftwareCCH Accounts Production 2024.310No description of principal activityMr J R Harvey096032862023-10-012024-09-3009603286bus:Director12023-10-012024-09-3009603286bus:RegisteredOffice2023-10-012024-09-3009603286bus:Agent12023-10-012024-09-30096032862024-09-30096032862023-09-3009603286core:ComputerEquipment2024-09-3009603286core:MotorVehicles2024-09-3009603286core:ComputerEquipment2023-09-3009603286core:MotorVehicles2023-09-3009603286core:CurrentFinancialInstrumentscore:WithinOneYear2024-09-3009603286core:CurrentFinancialInstrumentscore:WithinOneYear2023-09-3009603286core:Non-currentFinancialInstrumentscore:AfterOneYear2024-09-3009603286core:Non-currentFinancialInstrumentscore:AfterOneYear2023-09-3009603286core:CurrentFinancialInstruments2024-09-3009603286core:CurrentFinancialInstruments2023-09-3009603286core:Non-currentFinancialInstruments2024-09-3009603286core:Non-currentFinancialInstruments2023-09-3009603286core:ShareCapital2024-09-3009603286core:ShareCapital2023-09-3009603286core:RetainedEarningsAccumulatedLosses2024-09-3009603286core:RetainedEarningsAccumulatedLosses2023-09-3009603286core:ComputerEquipment2023-10-012024-09-3009603286core:MotorVehicles2023-10-012024-09-30096032862022-10-012023-09-3009603286core:ComputerEquipment2023-09-3009603286core:MotorVehicles2023-09-30096032862023-09-3009603286core:WithinOneYear2024-09-3009603286core:WithinOneYear2023-09-3009603286bus:PrivateLimitedCompanyLtd2023-10-012024-09-3009603286bus:FRS1022023-10-012024-09-3009603286bus:AuditExemptWithAccountantsReport2023-10-012024-09-3009603286bus:SmallCompaniesRegimeForAccounts2023-10-012024-09-3009603286bus:FullAccounts2023-10-012024-09-30xbrli:purexbrli:sharesiso4217:GBP