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Company Registration No. 08878964 (England and Wales)
WISE MORTGAGES LTD Unaudited accounts for the year ended 28 February 2025
WISE MORTGAGES LTD Unaudited accounts Contents
Page
Company information
3
Accountants' report
4
Statement of financial position
5
Notes to the accounts
6
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WISE MORTGAGES LTD Company Information for the year ended 28 February 2025
Director
Ismail Khan
Company Number
08878964 (England and Wales)
Registered Office
268 BATH ROAD SLOUGH SL1 4DX ENGLAND
Accountants
Cooper Harland Limited Unit 1.21, Barking Enterprise Centre 50 Cambridge Road Barking Essex IG11 8FG
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Chartered Certified Accountants' report to the board of directors on the preparation of the unaudited statutory accounts of WISE MORTGAGES LTD for the year ended 28 February 2025
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of WISE MORTGAGES LTD for the year ended 28 February 2025 as set out on pages 5 - 8 from the Company's accounting records and from information and explanations you have given us.
As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at https://www.accaglobal.com/uk/en/about-us/regulation/rulebook.html
This report is made solely to the Board of Directors of WISE MORTGAGES LTD, as a body, in accordance with the terms of our engagement letter dated 1 March 2024. Our work has been undertaken solely to prepare for your approval the accounts of WISE MORTGAGES LTD and state those matters that we have agreed to state to the Board of Directors of WISE MORTGAGES LTD, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/content/dam/ACCA_Global/Technical/fact/technical-factsheet-163.pdf. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than WISE MORTGAGES LTD and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that WISE MORTGAGES LTD has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of WISE MORTGAGES LTD. You consider that WISE MORTGAGES 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 accounts of WISE MORTGAGES 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 accounts.
Cooper Harland Limited Chartered Certified Accountants Unit 1.21, Barking Enterprise Centre 50 Cambridge Road Barking Essex IG11 8FG 21 March 2025
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WISE MORTGAGES LTD Statement of financial position as at 28 February 2025
2025
2024
Notes
£
£
Fixed assets
Tangible assets
4
823
355
Current assets
Debtors
5
-
1,760
Cash at bank and in hand
69,231
53,236
69,231
54,996
Creditors: amounts falling due within one year
6
(22,867)
(10,441)
Net current assets
46,364
44,555
Total assets less current liabilities
47,187
44,910
Creditors: amounts falling due after more than one year
7
(10,000)
(14,338)
Net assets
37,187
30,572
Capital and reserves
Called up share capital
8
101
101
Profit and loss account
37,086
30,471
Shareholders' funds
37,187
30,572
For the year ending 28 February 2025 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 20 March 2025 and were signed on its behalf by
Ismail Khan Director Company Registration No. 08878964
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WISE MORTGAGES LTD Notes to the Accounts for the year ended 28 February 2025
1
Statutory information
WISE MORTGAGES LTD is a private company, limited by shares, registered in England and Wales, registration number 08878964. The registered office is 268 BATH ROAD, SLOUGH, SL1 4DX, ENGLAND.
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.
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:
Fixtures & fittings
25
Computer equipment
33
Deferred taxation
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 accounts. 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 current tax rates and laws. Deferred tax assets and liabilities are not discounted.
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WISE MORTGAGES LTD Notes to the Accounts for the year ended 28 February 2025
4
Tangible fixed assets
Fixtures & fittings
Computer equipment
Total
£
£
£
Cost or valuation
At cost
At cost
At 1 March 2024
2,022
1,225
3,247
Additions
600
1,650
2,250
At 28 February 2025
2,622
2,875
5,497
Depreciation
At 1 March 2024
1,667
1,225
2,892
Charge for the year
833
949
1,782
At 28 February 2025
2,500
2,174
4,674
Net book value
At 28 February 2025
122
701
823
At 29 February 2024
355
-
355
5
Debtors
2025
2024
£
£
Amounts falling due within one year
Accrued income and prepayments
-
1,760
6
Creditors: amounts falling due within one year
2025
2024
£
£
Bank loans and overdrafts
2,598
-
Taxes and social security
2,154
367
Other creditors
916
447
Loans from directors
17,199
9,627
22,867
10,441
7
Creditors: amounts falling due after more than one year
2025
2024
£
£
Bank loans
-
4,338
Other creditors
10,000
10,000
10,000
14,338
Other Creditors: Sub-ordinated loan: £10,000
8
Share capital
2025
2024
£
£
Allotted, called up and fully paid:
101 Ordinary shares of £1 each
101
101
9
Loans to directors
The Director, Mr. Ismail Khan, controls the company as a result of controlling directly 100% of the issued share capital.
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WISE MORTGAGES LTD Notes to the Accounts for the year ended 28 February 2025
10
Average number of employees
During the year the average number of employees was 2 (2024: 2).
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