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Company Registration No. SC380328 (Scotland)
Iwise2ebusiness Ltd. Unaudited accounts for the year ended 30 June 2024
Iwise2ebusiness Ltd. Unaudited accounts Contents
Page
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Iwise2ebusiness Ltd. Company Information for the year ended 30 June 2024
Director
Martin Morgan Thomas
Company Number
SC380328 (Scotland)
Registered Office
32a/9 Warrender Park Terrace Edinburgh Midlothian EH9 1ED Scotland
Accountants
Sleek Accounting Ltd 4th Floor 205 Regent Street London W1B 4HB
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Iwise2ebusiness Ltd. Statement of financial position as at 30 June 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Intangible assets
492,135 
545,877 
Tangible assets
220 
94 
492,355 
545,971 
Current assets
Debtors
49,080 
30,382 
Creditors: amounts falling due within one year
(348,445)
(715,708)
Net current liabilities
(299,365)
(685,326)
Total assets less current liabilities
192,990 
(139,355)
Creditors: amounts falling due after more than one year
(436,702)
(7,886)
Net liabilities
(243,712)
(147,241)
Capital and reserves
Called up share capital
238,889 
238,889 
Share premium
29,889 
29,889 
Profit and loss account
(512,490)
(416,019)
Shareholders' funds
(243,712)
(147,241)
For the 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. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 15 May 2025 and were signed on its behalf by
Martin Morgan Thomas Director Company Registration No. SC380328
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Iwise2ebusiness Ltd. Notes to the Accounts for the year ended 30 June 2024
1
Statutory information
Iwise2ebusiness Ltd. is a private company, limited by shares, registered in Scotland, registration number SC380328. The registered office is 32a/9 Warrender Park Terrace, Edinburgh, Midlothian, EH9 1ED, Scotland.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Computer equipment
25% Straight Line Method
Intangible fixed assets
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation.
Research and development
Expenditure on research and development is written off in the year in which it is incurred. Development expenditure incurred is capitalised as an intangible asset only when all of the following criteria are met: • It is technically feasible to complete the intangible asset so that it will be available for use or sale; • There is the intention to complete the intangible asset and use or sell it; • There is the ability to use or sell the intangible asset; • The use or sale of the intangible asset will generate probable future economic benefits; • There are adequate technical, financial and other resources available to complete the development and to use or sell the intangible asset; and • The expenditure attributable to the intangible asset during its development can be measured reliably. Expenditure that does not meet the above criteria is expensed as incurred.
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Iwise2ebusiness Ltd. Notes to the Accounts for the year ended 30 June 2024
4
Intangible fixed assets
Other 
£ 
Cost
At 1 July 2023
1,154,557 
Additions
65,033 
At 30 June 2024
1,219,590 
Amortisation
At 1 July 2023
608,680 
Charge for the year
118,775 
At 30 June 2024
727,455 
Net book value
At 30 June 2024
492,135 
At 30 June 2023
545,877 
5
Tangible fixed assets
Computer equipment 
£ 
Cost or valuation
At cost 
At 1 July 2023
9,074 
Additions
209 
At 30 June 2024
9,283 
Depreciation
At 1 July 2023
8,980 
Charge for the year
83 
At 30 June 2024
9,063 
Net book value
At 30 June 2024
220 
At 30 June 2023
94 
6
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
Trade debtors
48,937 
30,382 
Accrued income and prepayments
143 
- 
49,080 
30,382 
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Iwise2ebusiness Ltd. Notes to the Accounts for the year ended 30 June 2024
7
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
Bank loans and overdrafts
53,668 
21,994 
VAT
390 
- 
Trade creditors
110,840 
86,515 
Taxes and social security
2,029 
1,313 
Other creditors
12,855 
439,331 
Loans from directors
145,151 
154,904 
Accruals
5,628 
11,651 
Deferred income
17,884 
- 
348,445 
715,708 
8
Creditors: amounts falling due after more than one year
2024 
2023 
£ 
£ 
Bank loans
2,634 
7,886 
Other creditors
434,068 
- 
436,702 
7,886 
9
Share capital
2024 
2023 
£ 
£ 
Allotted, called up and fully paid:
23,888,888 Ordinary shares of £0.01 each
238,888.88 
238,888.88 
10
Loans to directors
The company owes to the directors Martin Morgan Thomas £145,151 as at the end of the year.
11
Transactions with related parties
The company owes to the share holder Shona Cotterill £225,334 (2023: £225,334) as at the end of the year. This loan is interest free and repayable on demand. This balance is disclosed within Other creditors. The company owes to the share holder Beverley Ann Thomas £208,734 (2023: £208,734) as at the end of the year. This loan is interest free and repayable on demand. This balance is disclosed within Other creditors.
12
Average number of employees
During the year the average number of employees was 1 (2023: 1).
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