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Financial Statements |
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for the Year Ended 31 December 2019 |
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Wisepay Limited |
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Financial Statements |
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for the Year Ended 31 December 2019 |
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for |
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Wisepay Limited |
Wisepay Limited (Registered number: 03274469) |
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Contents of the Financial Statements |
for the Year Ended 31 December 2019 |
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Page |
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Company Information | 1 |
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Statement of Financial Position | 2 |
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Notes to the Financial Statements | 3 |
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Wisepay Limited |
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Company Information |
for the Year Ended 31 December 2019 |
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DIRECTORS: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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AUDITORS: |
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Chartered Accountants |
Statutory Auditor |
Chancery House |
30 St Johns Road |
Woking |
Surrey |
GU21 7SA |
Wisepay Limited (Registered number: 03274469) |
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Statement of Financial Position |
31 December 2019 |
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31/12/19 | 31/12/18 |
Notes | £ | £ |
FIXED ASSETS |
Property, plant and equipment | 5 |
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CURRENT ASSETS |
Debtors | 6 |
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Cash at bank |
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CREDITORS |
Amounts falling due within one year | 7 | ( |
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NET CURRENT ASSETS |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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CAPITAL AND RESERVES |
Called up share capital |
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Retained earnings |
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SHAREHOLDERS' FUNDS |
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In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered. |
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The financial statements were approved by the Board of Directors and authorised for issue on
were signed on its behalf by: |
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Wisepay Limited (Registered number: 03274469) |
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Notes to the Financial Statements |
for the Year Ended 31 December 2019 |
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1. | STATUTORY INFORMATION |
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Wisepay Limited is a
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registered number and registered office address can be found on the Company Information page. |
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The presentation currency of the financial statements is the Pound Sterling (£). |
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2. | STATEMENT OF COMPLIANCE |
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3. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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Going concern |
After reviewing the company's forecasts and projections, the directors have a reasonable expectation that the |
company has adequate resources to continue in operational existence for the foreseeable future. The company |
therefore continues to adopt the going concern basis in preparing its financial statements. |
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Turnover |
Revenue is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, |
value added tax and other sales taxes. |
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Subscription revenue is recognised on a straight-line basis over the term of the contract. Revenue relating to |
future periods is classified as deferred income on the Statement of Financial Position to reflect the transfer of risk |
and reward. |
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Tangible fixed assets |
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Computer equipment | - |
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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. |
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Current or deferred taxation assets and liabilities are not discounted. |
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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. |
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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. |
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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. |
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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. |
Wisepay Limited (Registered number: 03274469) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 December 2019 |
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3. | ACCOUNTING POLICIES - continued |
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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. |
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4. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was
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5. | PROPERTY, PLANT AND EQUIPMENT |
Computer |
equipment |
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Cost |
At 1 January 2019 |
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Disposals | ( |
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At 31 December 2019 |
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Depreciation |
At 1 January 2019 |
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Charge for year |
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Eliminated on disposal | ( |
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At 31 December 2019 |
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Net book value |
At 31 December 2019 |
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At 31 December 2018 |
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6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31/12/19 | 31/12/18 |
£ | £ |
Trade debtors |
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Amounts owed by group undertakings |
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Other debtors |
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7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31/12/19 | 31/12/18 |
£ | £ |
Trade creditors |
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Amounts owed to group undertakings |
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Taxation and social security |
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Other creditors |
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Wisepay Limited (Registered number: 03274469) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 December 2019 |
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8. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
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The Report of the Auditors was unqualified. |
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for and on behalf of
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9. | ULTIMATE PARENT UNDERTAKING AND CONTROLLING PARTY |
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The company's immediate parent undertaking is Community Brands UK Holdings Limited, a company |
incorporated in England and Wales. Community Brands UK Holdings Limited is the smallest group for which |
consolidated financial statements including this company are prepared. Copies of the financial statements are |
available from Companies House, Crown Way, Cardiff, CF14 3UZ. The registered office address of Community |
Brands UK Holdings Limited is the same as for this company. |
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The ultimate parent undertaking is Insight MB Holdings LLC incorporated in the United States of America. |
There is no ultimate controlling party. |