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REGISTERED NUMBER: 02653264 (England and Wales)















WISE EMPLOYMENT (SWINDON) LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED

31ST DECEMBER 2024






WISE EMPLOYMENT (SWINDON) LIMITED (REGISTERED NUMBER: 02653264)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST DECEMBER 2024










Page

Company Information 1

Statement of Financial Position 2 to 3

Notes to the Financial Statements 4 to 8


WISE EMPLOYMENT (SWINDON) LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31ST DECEMBER 2024







DIRECTORS: Mr K M Robinson
Mrs J D Robinson



REGISTERED OFFICE: Unit 5 Kingsdown Orchard
Hyde Road
SWINDON
Wiltshire
SN2 7RR



REGISTERED NUMBER: 02653264 (England and Wales)



ACCOUNTANTS: Morris Owen
Chartered Accountants
43-45 Devizes Road
SWINDON
Wiltshire
SN1 4BG



BANKERS: HSBC Bank Plc
Unit 6 The Lock
Canal Walk
SWINDON
Wiltshire
SN1 1LD

WISE EMPLOYMENT (SWINDON) LIMITED (REGISTERED NUMBER: 02653264)

STATEMENT OF FINANCIAL POSITION
31ST DECEMBER 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 59,998 78,197
Investments 5 1 1
59,999 78,198

CURRENT ASSETS
Debtors 6 587,202 621,749
Cash at bank and in hand 192,090 418,689
779,292 1,040,438
CREDITORS
Amounts falling due within one year 7 340,776 411,759
NET CURRENT ASSETS 438,516 628,679
TOTAL ASSETS LESS CURRENT
LIABILITIES

498,515

706,877

CREDITORS
Amounts falling due after more than
one year

8

-

12,390
NET ASSETS 498,515 694,487

CAPITAL AND RESERVES
Called up share capital 11 16,500 16,500
Retained earnings 482,015 677,987
SHAREHOLDERS' FUNDS 498,515 694,487

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

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

The directors acknowledge their 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.

WISE EMPLOYMENT (SWINDON) LIMITED (REGISTERED NUMBER: 02653264)

STATEMENT OF FINANCIAL POSITION - continued
31ST 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 12th August 2025 and were signed on its behalf by:





Mr K M Robinson - Director


WISE EMPLOYMENT (SWINDON) LIMITED (REGISTERED NUMBER: 02653264)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST DECEMBER 2024


1. STATUTORY INFORMATION

Wise Employment (Swindon) Ltd is a private company, limited by shares, registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 02653264 (England and Wales)

Registered office: Unit 5 Kingsdown Orchard, Hyde Road, Swindon, SN2 7RR.

The presentation currency of the financial statements is the Pound Sterling (£) rounded to the nearest pound.

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.

Preparation of consolidated financial statements
The financial statements contain information about Wise Employment (Swindon) Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Significant judgements and estimates
In preparing these financial statements, the directors have made the following judgements:

- Determine whether leases entered into by the company as a lessee are operating leases or finance leases. These decisions depend on an assessment of whether the risks and rewards of ownership have been transferred from the lessor to the lessee on a lease by lease basis.

- Determine the period of useful economic life and any residual value of all tangible fixed assets order to write off the value of each asset over that period.

- Determine an appropriate provision for bad and doubtful debts by assessing the recoverability of all balances on a balance by balance basis.

- Determine an appropriate provision for dilapidations by assessing the probable future obligations expected to exist at the end of the property lease.

Turnover
Turnover represents the fair value of consideration received or receivable for the provision of employment services during the year, excluding value added tax.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Long leasehold - Over the term of the lease
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 25% on cost

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

WISE EMPLOYMENT (SWINDON) LIMITED (REGISTERED NUMBER: 02653264)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST DECEMBER 2024


2. ACCOUNTING POLICIES - continued

Financial instruments
Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Short term trade creditors are measured at the transaction price. Other financial liabilities, including loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 17 (2023 - 15 ) .

WISE EMPLOYMENT (SWINDON) LIMITED (REGISTERED NUMBER: 02653264)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST DECEMBER 2024


4. TANGIBLE FIXED ASSETS
Fixtures
Long and Motor Computer
leasehold fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1st January 2024 4,947 21,067 103,918 105,006 234,938
Additions - 1,575 - 4,549 6,124
At 31st December 2024 4,947 22,642 103,918 109,555 241,062
DEPRECIATION
At 1st January 2024 3,350 16,704 51,651 85,036 156,741
Charge for year 1,181 798 13,068 9,276 24,323
At 31st December 2024 4,531 17,502 64,719 94,312 181,064
NET BOOK VALUE
At 31st December 2024 416 5,140 39,199 15,243 59,998
At 31st December 2023 1,597 4,363 52,267 19,970 78,197


5. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1st January 2024
and 31st December 2024 1
NET BOOK VALUE
At 31st December 2024 1
At 31st December 2023 1

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 194,368 419,615
Amounts owed by group undertakings 358,015 159,538
Other debtors 34,819 42,596
587,202 621,749

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 12,390 27,703
Hire purchase contracts (see note 9) - 2,818
Trade creditors 16,527 19,122
Taxation and social security 185,550 179,358
Other creditors 126,309 182,758
340,776 411,759

WISE EMPLOYMENT (SWINDON) LIMITED (REGISTERED NUMBER: 02653264)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST DECEMBER 2024


8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans - 12,390

9. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase
contracts
2024 2023
£    £   
Net obligations repayable:
Within one year - 2,818

Non-cancellable
operating leases
2024 2023
£    £   
Within one year 42,781 67,667
Between one and five years 17,002 37,558
59,783 105,225

The above includes £Nil (2023: £2,644) due within one year relating to the benefit of the company's subsidiary.

10. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Hire purchase contracts - 2,818
Invoice financing 88,583 108,283
88,583 111,101

Obligations under hire purchase contracts are secured on the assets concerned.

Included in other creditors is a balance relating to an invoice discounting arrangement. HSBC Finance (UK) Ltd has a fixed charge on purchased debts and a floating charge over all assets dated 5 August 2008 in relation to this arrangement.

In addition to this specific debt, the company has the following securities;
A Multilateral Guarantee issued 6 August 2008 exists between Wise Employment (Swindon) Limited and Smart Recruitment Solutions (Swindon) Limited.

HSBC Bank Plc has a debenture including a fixed and floating charge over the undertaking and all property and assets, present and future, including goodwill, book debts, uncalled capital, buildings, fixtures, and fixed plant and machinery dated 1 August 2003.

HSBC Bank Plc also has a legal charge over all contract monies dated 21 July 2010.

WISE EMPLOYMENT (SWINDON) LIMITED (REGISTERED NUMBER: 02653264)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST DECEMBER 2024


11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
1,000,000 Ordinary A 1p 10,000 10,000
650,000 Ordinary B 1p 6,500 6,500
16,500 16,500