Company Registration No. 12377046 (England and Wales)
With Wise Limited
Unaudited accounts
for the period from 24 December 2019 to 31 May 2021
With Wise Limited
Unaudited accounts
Contents
With Wise Limited
Company Information
for the period from 24 December 2019 to 31 May 2021
Directors
Simon Hills
Gary Jacobs
Company Number
12377046 (England and Wales)
Registered Office
1-2 HATFIELDS
WISE
LONDON
SE1 9PG
ENGLAND
With Wise Limited
Statement of financial position
as at
31 May 2021
Intangible assets
332,500
Cash at bank and in hand
1,872,621
Creditors: amounts falling due within one year
(706,915)
Net current assets
1,625,680
Called up share capital
600
Profit and loss account
1,998,880
Shareholders' funds
1,999,480
For the period ending 31 May 2021 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 directors acknowledge their 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 of Directors and authorised for issue on 28 October 2021 and were signed on its behalf by
Simon Hills
Director
Company Registration No. 12377046
With Wise Limited
Notes to the Accounts
for the period from 24 December 2019 to 31 May 2021
With Wise Limited is a private company, limited by shares, registered in England and Wales, registration number 12377046. The registered office is 1-2 HATFIELDS, WISE, LONDON, SE1 9PG, 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.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
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% reducing balance
Computer equipment
25% reducing balance
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation over its useful economic life of 3 years.
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.
Expenditure on research and development is written off in the year in which it is incurred.
With Wise Limited
Notes to the Accounts
for the period from 24 December 2019 to 31 May 2021
4
Intangible fixed assets
Other
Charge for the period
297,500
5
Tangible fixed assets
Plant & machinery
Fixtures & fittings
Total
Cost or valuation
At cost
At cost
At 24 December 2019
31,107
16,240
47,347
At 31 May 2021
31,107
16,240
47,347
At 24 December 2019
4,562
1,485
6,047
At 31 May 2021
4,562
1,485
6,047
At 31 May 2021
26,545
14,755
41,300
6
Debtors: amounts falling due within one year
2021
7
Creditors: amounts falling due within one year
2021
Taxes and social security
458,669
Allotted, called up and fully paid:
600 Ordinary shares of £1 each
600
With Wise Limited
Notes to the Accounts
for the period from 24 December 2019 to 31 May 2021
9
Transactions with related parties
During the period the company paid management charges to Go Wise Technology Limited totalling £232,522.
During the period the company also paid management charges to Go Wise Management Limited totalling £159,837.
During the period the company distributed dividends to Go Wise Technology Limited totalling £785,333.
At the balance sheet date the ultimate controlling party was FWM Holdings Limited by virtue of its 92% shareholding in the company's immediate parent company. The immediate parent company is Go Wise Technology Limited.
On 30 November 2021, Wise Topco Limited became the ultimate controlling party via its 100% shareholding of the Company's immediate parent company.
11
Average number of employees
During the period the average number of employees was 32.