WISE PENSION GROUP LIMITED
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Registered number |
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07310886
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Abbreviated Balance Sheet |
as at 31 January 2016
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Notes |
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2016 |
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2015 |
£ |
£ |
Fixed assets |
Intangible assets |
2 |
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73,447 |
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115,657 |
Tangible assets |
3 |
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18,364 |
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21,757 |
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91,811 |
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137,414 |
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Current assets |
Debtors |
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28,922 |
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12,766 |
Cash at bank and in hand |
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79,769 |
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35,909 |
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108,691 |
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48,675 |
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Creditors: amounts falling due within one year |
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(115,074) |
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(11,498) |
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Net current (liabilities)/assets |
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(6,383) |
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37,177 |
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Total assets less current liabilities |
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85,428 |
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174,591 |
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Creditors: amounts falling due after more than one year |
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(79,745) |
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(139,075) |
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Net assets |
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5,683 |
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35,516 |
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Capital and reserves |
Called up share capital |
4 |
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17,385 |
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11,655 |
Share premium |
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591,176 |
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308,345 |
Profit and loss account |
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(602,878) |
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(284,484) |
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Shareholders' funds |
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5,683 |
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35,516 |
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The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
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Members have not required the company to obtain an audit in accordance with section 476 of the Act.
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The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
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The accounts have been prepared in accordance with the provisions in Part 15 of the Companies Act 2006 applicable to companies subject to the small companies regime.
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Approved by the board on 18 October 2016
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Mr C P Long |
Director |
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WISE PENSION GROUP LIMITED
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Notes to the Abbreviated Accounts |
for the year ended 31 January 2016
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1 |
Accounting policies |
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Basis of preparation |
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The accounts have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).
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Turnover |
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Turnover represents the value of work carried out in respect of services provided to customers.
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Depreciation |
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Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives. |
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Plant and machinery |
25% on reducing balance
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Development costs |
over 4 years
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Research and development |
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As per SSAP 13, the development costs have been deferred by capitalising them as an intangible asset and amortising them over their useful economic life. |
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Deferred taxation |
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Full provision is made for deferred taxation resulting from timing differences between the recognition of gains and losses in the accounts and their recognition for tax purposes, provided the amount is material in the context of the Financial Statement as a whole. Deferred taxation is calculated on an un-discounted basis at the tax rates which are expected to apply in the periods when the timing differences will reverse. |
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Foreign currencies |
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Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the rate of exchange ruling at the balance sheet date. All differences are taken to the profit and loss account. |
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2 |
Intangible fixed assets |
£ |
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Cost |
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At 1 February 2015 |
255,039 |
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Additions |
1,623 |
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At 31 January 2016 |
256,662 |
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Amortisation |
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At 1 February 2015 |
139,382 |
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Provided during the year |
43,833 |
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At 31 January 2016 |
183,215 |
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Net book value |
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At 31 January 2016 |
73,447 |
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At 31 January 2015 |
115,657 |
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Goodwill is being written off in equal annual instalments over its estimated economic life of 5 years. The Trade Marks cost of £ 2,287 is being written off over 5 years. |
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3 |
Tangible fixed assets |
£ |
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Cost |
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At 1 February 2015 |
29,010 |
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Additions |
2,757 |
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At 31 January 2016 |
31,767 |
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Depreciation |
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At 1 February 2015 |
7,253 |
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Charge for the year |
6,150 |
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At 31 January 2016 |
13,403 |
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Net book value |
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At 31 January 2016 |
18,364 |
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At 31 January 2015 |
21,757 |
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4 |
Share capital |
Nominal |
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2016 |
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2016 |
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2015 |
value |
Number |
£ |
£ |
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Allotted, called up and fully paid: |
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Ordinary shares
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£1 each |
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17,385 |
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17,385 |
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11,655 |
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Nominal |
Number |
Amount |
value |
£ |
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Shares issued during the period: |
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Ordinary shares
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£1 each |
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5,730 |
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5,730 |
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