REGISTERED NUMBER:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Financial Statements |
|
for the Year Ended 31 December 2021 |
|
for |
|
Wisepay Limited |
REGISTERED NUMBER:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Financial Statements |
|
for the Year Ended 31 December 2021 |
|
for |
|
Wisepay Limited |
Wisepay Limited (Registered number: 03274469) |
|
|
|
|
|
|
Contents of the Financial Statements |
for the Year Ended 31 December 2021 |
|
|
|
|
Page |
|
Company Information | 1 |
|
Statement of Financial Position | 2 |
|
Notes to the Financial Statements | 3 |
|
Wisepay Limited |
|
Company Information |
for the Year Ended 31 December 2021 |
|
|
|
|
|
|
|
DIRECTORS: |
|
|
|
|
|
|
|
REGISTERED OFFICE: |
|
|
|
|
|
|
|
|
|
REGISTERED NUMBER: |
|
|
|
|
|
|
AUDITORS: |
|
Chartered Accountants |
Statutory Auditor |
Chancery House |
30 St Johns Road |
Woking |
Surrey |
GU21 7SA |
Wisepay Limited (Registered number: 03274469) |
|
Statement of Financial Position |
31 December 2021 |
|
31/12/21 | 31/12/20 |
Notes | £ | £ |
FIXED ASSETS |
Intangible assets | 5 |
|
|
Property, plant and equipment | 6 |
|
|
|
|
|
CURRENT ASSETS |
Debtors | 7 |
|
|
Cash at bank |
|
|
|
|
CREDITORS |
Amounts falling due within one year | 8 | ( |
) | ( |
) |
NET CURRENT ASSETS |
|
|
TOTAL ASSETS LESS CURRENT
LIABILITIES |
|
|
|
CAPITAL AND RESERVES |
Called up share capital |
|
|
Retained earnings |
|
|
SHAREHOLDERS' FUNDS |
|
|
|
|
|
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
|
|
|
|
|
|
|
|
Wisepay Limited (Registered number: 03274469) |
|
Notes to the Financial Statements |
for the Year Ended 31 December 2021 |
|
1. | STATUTORY INFORMATION |
|
Wisepay Limited is a
|
|
The presentation currency of the financial statements is the Pound Sterling (£). |
|
|
2. | STATEMENT OF COMPLIANCE |
|
|
|
3. | ACCOUNTING POLICIES |
|
Basis of preparing the financial statements |
|
|
As set out in the Directors' report, due to the company ceasing to trade after the year end on 30th September 2022, the directors have decided to prepare the financial statements on a basis other than a going concern. |
|
The assets and liabilities of the company have been transferred to the company's parent company Community Brands UK Limited at net book value. Accordingly the following policies and procedures were implemented. |
|
All assets have been disclosed at values at which they are expected to be realised; |
All liabilities reflect the full amount at which they are expected to materialise. |
|
Turnover |
Revenue is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
|
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. |
|
Goodwill |
|
|
Intangible assets |
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses. |
|
Tangible fixed assets |
|
Computer equipment | - |
|
|
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. |
|
Wisepay Limited (Registered number: 03274469) |
|
Notes to the Financial Statements - continued |
for the Year Ended 31 December 2021 |
|
3. | ACCOUNTING POLICIES - continued |
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. |
|
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. |
|
4. | EMPLOYEES AND DIRECTORS |
|
The average number of employees during the year was
|
|
5. | INTANGIBLE FIXED ASSETS |
Goodwill |
£ |
Cost |
At 1 January 2021 |
and 31 December 2021 |
|
Amortisation |
At 1 January 2021 |
|
Charge for year |
|
At 31 December 2021 |
|
Net book value |
At 31 December 2021 |
|
At 31 December 2020 |
|
Wisepay Limited (Registered number: 03274469) |
|
Notes to the Financial Statements - continued |
for the Year Ended 31 December 2021 |
|
6. | PROPERTY, PLANT AND EQUIPMENT |
Computer |
equipment |
£ |
Cost |
At 1 January 2021 |
|
Disposals | ( |
) |
At 31 December 2021 |
|
Depreciation |
At 1 January 2021 |
|
Charge for year |
|
Eliminated on disposal | ( |
) |
At 31 December 2021 |
|
Net book value |
At 31 December 2021 |
|
At 31 December 2020 |
|
|
7. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31/12/21 | 31/12/20 |
£ | £ |
Trade debtors |
|
|
Amounts owed by group undertakings |
|
|
Other debtors |
|
|
|
|
|
8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31/12/21 | 31/12/20 |
£ | £ |
Trade creditors |
|
|
Amounts owed to group undertakings |
|
|
Taxation and social security |
|
|
Other creditors |
|
|
|
|
|
9. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
|
The Report of the Auditors was unqualified. |
|
|
for and on behalf of
|
|
10. | POST BALANCE SHEET EVENTS |
|
On 30th September 2022, the assets, liabilities and trade of the company were transferred to the company's parent company Community Brands UK Ltd and the company ceased to trade. |
Wisepay Limited (Registered number: 03274469) |
|
Notes to the Financial Statements - continued |
for the Year Ended 31 December 2021 |
|
11. | ULTIMATE PARENT UNDERTAKING AND CONTROLLING PARTY |
|
The company's immediate parent undertaking is Community Brands UK Limited, a company incorporated in England and Wales. Community Brands UK Limited is the smallest group for which consolidated accounts 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 Limited is the same as for this company. |
|
The ultimate parent undertaking is Insight MB Holdings LLC incorporated in the United States of America. There is no ultimate controlling party. |