Wizard Management Solutions Limited
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Registered number: |
05884192
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Balance Sheet |
as at 31 March 2022
|
|
Notes |
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|
2022 |
|
|
2021 |
£ |
£ |
Fixed assets |
Tangible assets |
3 |
|
|
- |
|
|
616 |
|
Current assets |
Debtors |
4 |
|
1,458 |
|
|
1,458 |
Cash at bank and in hand |
|
|
24,387 |
|
|
50,923 |
|
|
|
25,845 |
|
|
52,381 |
|
Creditors: amounts falling due within one year |
5 |
|
(3,640) |
|
|
(6,242) |
|
Net current assets |
|
|
|
22,205 |
|
|
46,139 |
|
Net assets |
|
|
|
22,205 |
|
|
46,755 |
|
|
|
|
|
|
|
|
Capital and reserves |
Called up share capital |
|
|
|
2 |
|
|
2 |
Profit and loss account |
|
|
|
22,203 |
|
|
46,753 |
|
Shareholders' funds |
|
|
|
22,205 |
|
|
46,755 |
|
|
|
|
|
|
|
|
The director is 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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The members have not required the company to obtain an audit in accordance with section 476 of the Act.
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The director acknowledges his 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 and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
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|
R W Stephenson |
Director |
Approved by the board on 6 December 2022
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|
Wizard Management Solutions Limited
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Notes to the Accounts |
for the year ended 31 March 2022
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|
1 |
Accounting policies |
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Basis of preparation |
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The abridged accounts have been prepared in accordance with Financial Reporting Standard 102 (FRS 102) and the Companies Act 2006 (as applicable to companies subject to the small company regime). The significant accounting policies applied in the preparation of these statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated. As explained in note 6 to the financial statements, the company ceased trading in March 2022 and the financial statements have been prepared on a basis other than that of the going concern basis. This has had the effect of assessing the recoverable amounts or the amounts that can be realised on the disposal, after allowing for any cost of disposal, of current assets, as well as the amounts payable for liabilities. No provision has been made for the future costs of terminating the business unless such costs were committed at the reporting date.
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|
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Turnover |
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Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the rendering of services and associated costs. When the outcome of a contract for services can be estimated reliably turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Where the outcome cannot be measured reliably, turnover is recognised only to the extent of the expenses recognised that are recoverable.
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|
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Tangible fixed assets |
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Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
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|
|
Equipment |
25% straight line |
|
|
|
|
|
Debtors |
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Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts.
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|
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Creditors |
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Short term creditors are measured at transaction price (which is usually the invoice price)
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|
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Taxation |
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A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference. Current and deferred tax assets and liabilities are not discounted.
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|
2 |
Employees |
2022 |
|
2021 |
Number |
Number |
|
|
Average number of persons employed by the company |
2 |
|
2 |
|
|
|
|
|
|
|
|
|
|
3 |
Tangible fixed assets |
|
|
|
|
|
|
|
|
Equipment |
£ |
|
Cost |
|
At 1 April 2021 |
4,877 |
|
Disposals |
(4,877) |
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At 31 March 2022 |
- |
|
|
|
|
|
|
|
|
|
|
Depreciation |
|
At 1 April 2021 |
4,261 |
|
On disposals |
(4,261) |
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At 31 March 2022 |
- |
|
|
|
|
|
|
|
|
|
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Net book value |
|
At 31 March 2022 |
- |
|
At 31 March 2021 |
616 |
|
|
4 |
Debtors |
2022 |
|
2021 |
£ |
£ |
|
|
Other debtors |
1,458 |
|
1,458 |
|
|
|
|
|
|
|
|
|
|
5 |
Creditors: amounts falling due within one year |
2022 |
|
2021 |
£ |
£ |
|
|
Other creditors |
3,640 |
|
6,242 |
|
|
|
|
|
|
|
|
|
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6 |
Events after the reporting date |
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Due to the decline in trading activities, the director has decided to cease trading at the period end and dissolve the company in due course.
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7 |
Other information |
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Wizard Management Solutions Limited is a private company limited by shares and incorporated in England. Its registered office is: |
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4 Lismoyne Close |
|
Fleet |
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Hampshire |
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GU51 4NF |