Silverfin false false 30/06/2024 01/07/2023 30/06/2024 R A Hull 06/05/2008 S C Wisdom 02/08/1999 Stuart Colin Wisdom 24 April 2025 The principal activity of the company continued to be that of contract tiling services. 03818164 2024-06-30 03818164 bus:Director1 2024-06-30 03818164 bus:Director2 2024-06-30 03818164 2023-06-30 03818164 core:CurrentFinancialInstruments 2024-06-30 03818164 core:CurrentFinancialInstruments 2023-06-30 03818164 core:Non-currentFinancialInstruments 2024-06-30 03818164 core:Non-currentFinancialInstruments 2023-06-30 03818164 core:ShareCapital 2024-06-30 03818164 core:ShareCapital 2023-06-30 03818164 core:SharePremium 2024-06-30 03818164 core:SharePremium 2023-06-30 03818164 core:RetainedEarningsAccumulatedLosses 2024-06-30 03818164 core:RetainedEarningsAccumulatedLosses 2023-06-30 03818164 core:Vehicles 2023-06-30 03818164 core:FurnitureFittings 2023-06-30 03818164 core:Vehicles 2024-06-30 03818164 core:FurnitureFittings 2024-06-30 03818164 bus:OrdinaryShareClass1 2024-06-30 03818164 2023-07-01 2024-06-30 03818164 bus:FilletedAccounts 2023-07-01 2024-06-30 03818164 bus:SmallEntities 2023-07-01 2024-06-30 03818164 bus:AuditExemptWithAccountantsReport 2023-07-01 2024-06-30 03818164 bus:PrivateLimitedCompanyLtd 2023-07-01 2024-06-30 03818164 bus:Director1 2023-07-01 2024-06-30 03818164 bus:Director2 2023-07-01 2024-06-30 03818164 bus:Director3 2023-07-01 2024-06-30 03818164 core:Vehicles 2023-07-01 2024-06-30 03818164 core:FurnitureFittings 2023-07-01 2024-06-30 03818164 2022-07-01 2023-06-30 03818164 core:Vehicles 1 2023-07-01 2024-06-30 03818164 core:FurnitureFittings 1 2023-07-01 2024-06-30 03818164 1 2023-07-01 2024-06-30 03818164 core:Non-currentFinancialInstruments 2023-07-01 2024-06-30 03818164 bus:OrdinaryShareClass1 2023-07-01 2024-06-30 03818164 bus:OrdinaryShareClass1 2022-07-01 2023-06-30 iso4217:GBP xbrli:pure xbrli:shares

Company No: 03818164 (England and Wales)

WISDOM CERAMICS LIMITED

Unaudited Financial Statements
For the financial year ended 30 June 2024
Pages for filing with the registrar

WISDOM CERAMICS LIMITED

Unaudited Financial Statements

For the financial year ended 30 June 2024

Contents

WISDOM CERAMICS LIMITED

COMPANY INFORMATION

For the financial year ended 30 June 2024
WISDOM CERAMICS LIMITED

COMPANY INFORMATION (continued)

For the financial year ended 30 June 2024
DIRECTORS R A Hull
S C Wisdom
SECRETARY J Monger
REGISTERED OFFICE 22 Wycombe End
Beaconsfield
Buckinghamshire
HP9 1NB
United Kingdom
COMPANY NUMBER 03818164 (England and Wales)
ACCOUNTANT S&W Partners (Thames Valley) Limited
22 Wycombe End
Beaconsfield
Buckinghamshire
HP9 1NB
WISDOM CERAMICS LIMITED

BALANCE SHEET

As at 30 June 2024
WISDOM CERAMICS LIMITED

BALANCE SHEET (continued)

As at 30 June 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 3 2,495 3,261
2,495 3,261
Current assets
Stocks 4 3,750 4,260
Debtors 5 123,412 97,870
Cash at bank and in hand 5,870 18,390
133,032 120,520
Creditors: amounts falling due within one year 6 ( 65,617) ( 43,864)
Net current assets 67,415 76,656
Total assets less current liabilities 69,910 79,917
Creditors: amounts falling due after more than one year 7 ( 22,220) ( 26,852)
Net assets 47,690 53,065
Capital and reserves
Called-up share capital 8 10,000 10,000
Share premium account 6,860 6,860
Profit and loss account 30,830 36,205
Total shareholders' funds 47,690 53,065

For the financial year ending 30 June 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

These financial statements have been prepared in accordance with the provisions of FRS 102 Section 1A – small entities. The financial statements of Wisdom Ceramics Limited (registered number: 03818164) were approved and authorised for issue by the Board of Directors on 24 April 2025. They were signed on its behalf by:

Stuart Colin Wisdom
Director
WISDOM CERAMICS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 June 2024
WISDOM CERAMICS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 June 2024
1. Accounting policies

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

General information and basis of accounting

Wisdom Ceramics 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 22 Wycombe End, Beaconsfield, Buckinghamshire, HP9 1NB, 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 ‘The Financial Reporting Standard applicable in the UK and the Republic of Ireland’ issued by the Financial Reporting Council, including Section 1A of Financial Reporting Standard 102 (FRS102), and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The functional currency of Wisdom Ceramics Limited is considered to be pounds sterling because that is the currency of the primary economic environment in which the Company operates.

Turnover

Turnover is measured at the fair value of the consideration received or receivable for the sale of goods and the rendering of services in the normal course of business, and is shown net of discounts and VAT.

Revenue arises from the provision of tiling services. Revenue is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. The stage of completion is calculated by comparing costs incurred, mainly in relation to contractual hourly staff rates and materials, as a proportion of total costs. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that are recoverable.

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.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on enacted or substantively enacted tax rates and laws. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit. Deferred tax assets are recognised only to the extent that it is probable that future taxable profit will be available against which the temporary differences can be utilised.

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:

Vehicles 25 % reducing balance
Fixtures and fittings 20 % reducing balance

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.

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.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost includes materials, direct labour and an attributable proportion of manufacturing overheads based on normal levels of activity. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

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.

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.

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.

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

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 4 4

3. Tangible assets

Vehicles Fixtures and fittings Total
£ £ £
Cost
At 01 July 2023 29,567 6,818 36,385
At 30 June 2024 29,567 6,818 36,385
Accumulated depreciation
At 01 July 2023 27,274 5,850 33,124
Charge for the financial year 573 193 766
0 0 0
At 30 June 2024 27,847 6,043 33,890
Net book value
At 30 June 2024 1,720 775 2,495
At 30 June 2023 2,293 968 3,261

4. Stocks

2024 2023
£ £
Stocks 3,750 4,260

5. Debtors

2024 2023
£ £
Trade debtors 42,040 28,118
Deferred tax asset 8,900 7,645
Other debtors 72,472 62,107
123,412 97,870

6. Creditors: amounts falling due within one year

2024 2023
£ £
Bank loans 8,568 11,111
Trade creditors 8,901 5,174
Other taxation and social security 15,900 4,113
Other creditors 32,248 23,466
65,617 43,864

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

2024 2023
£ £
Bank loans 22,220 26,852

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

8. Called-up share capital

2024 2023
£ £
Allotted, called-up and fully-paid
10,000 Ordinary shares of £ 1.00 each 10,000 10,000