Caseware UK (AP4) 2022.0.179 2022.0.179 2023-02-282023-02-282022-03-01No description of principal activityfalse11truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 06823196 2022-03-01 2023-02-28 06823196 2021-03-01 2022-02-28 06823196 2023-02-28 06823196 2022-02-28 06823196 c:Director1 2022-03-01 2023-02-28 06823196 d:ComputerSoftware 2023-02-28 06823196 d:ComputerSoftware 2022-02-28 06823196 d:CurrentFinancialInstruments 2023-02-28 06823196 d:CurrentFinancialInstruments 2022-02-28 06823196 d:Non-currentFinancialInstruments 2023-02-28 06823196 d:Non-currentFinancialInstruments 2022-02-28 06823196 d:CurrentFinancialInstruments d:WithinOneYear 2023-02-28 06823196 d:CurrentFinancialInstruments d:WithinOneYear 2022-02-28 06823196 d:ShareCapital 2023-02-28 06823196 d:ShareCapital 2022-02-28 06823196 d:RetainedEarningsAccumulatedLosses 2023-02-28 06823196 d:RetainedEarningsAccumulatedLosses 2022-02-28 06823196 c:FRS102 2022-03-01 2023-02-28 06823196 c:AuditExempt-NoAccountantsReport 2022-03-01 2023-02-28 06823196 c:AbridgedAccounts 2022-03-01 2023-02-28 06823196 c:PrivateLimitedCompanyLtd 2022-03-01 2023-02-28 06823196 d:ComputerSoftware d:ExternallyAcquiredIntangibleAssets 2022-03-01 2023-02-28 06823196 2 2022-03-01 2023-02-28 06823196 d:ComputerSoftware d:OwnedIntangibleAssets 2022-03-01 2023-02-28 iso4217:GBP xbrli:pure

Registered number: 06823196









DIGITAL WAVE LTD








FINANCIAL STATEMENTS

FOR THE YEAR ENDED 28 FEBRUARY 2023

 
DIGITAL WAVE LTD
REGISTERED NUMBER: 06823196

BALANCE SHEET
AS AT 28 FEBRUARY 2023

2023
2022
Note
£
£

Fixed assets
  

Intangible assets
 4 
453,423
323,947

  
453,423
323,947

Current assets
  

Debtors
  
200,116
192,434

Cash at bank and in hand
  
812,150
501,856

  
1,012,266
694,290

Creditors: amounts falling due within one year
 6 
(1,400,015)
(1,052,397)

Net current liabilities
  
 
 
(387,749)
 
 
(358,107)

Total assets less current liabilities
  
65,674
(34,160)

Net assets/(liabilities)
  
65,674
(34,160)


Capital and reserves
  

Called up share capital 
  
1,000
1,000

Profit and loss account
  
64,674
(35,160)

  
65,674
(34,160)


The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared 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 financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 3 November 2023.



Page 1

 
DIGITAL WAVE LTD
REGISTERED NUMBER: 06823196
    
BALANCE SHEET (CONTINUED)
AS AT 28 FEBRUARY 2023


Oleg Degtyarev
Director

The notes on pages 3 to 7 form part of these financial statements.

Page 2

 
DIGITAL WAVE LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023

1.


General information

The DIGITAL WAVE LTD (the "Company'') was incorporated in United Kingdom on 18 February 2009 as
a private company limited by shares.
lts registered office is at Suite 12, 2nd Floor, Queens House, 180 Tottenham Court Road, London, United
Kingdom, W1T 7PD.
The principal activity of the company is software publishing.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A) of the Companies Act 2006.

The following principal accounting policies have been applied:

Page 3

 
DIGITAL WAVE LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023

2.Accounting policies (continued)

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.3

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.4

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
2.5

Intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

Page 4

 
DIGITAL WAVE LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023

2.Accounting policies (continued)

 
2.6

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.7

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.8

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.


3.


Employees

The average monthly number of employees, including directors, during the year was 1 (2022 - 1).

Page 5

 
DIGITAL WAVE LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023

4.


Intangible assets




Computer software

£



Cost


At 1 March 2022
381,217


Additions
175,392



At 28 February 2023

556,609



Amortisation


At 1 March 2022
57,270


Charge for the year on owned assets
45,916



At 28 February 2023

103,186



Net book value



At 28 February 2023
453,423



At 28 February 2022
323,947




5.


Debtors

2023
2022
£
£

Due after more than one year

Prepayments and accrued income
114,565
110,340

114,565
110,340

Due within one year

Other debtors
85,551
82,094

200,116
192,434


Page 6

 
DIGITAL WAVE LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023

6.


Creditors: Amounts falling due within one year

2023
2022
£
£

Bank overdrafts
2,733
2,733

Trade creditors
1,370,836
1,020,002

Accruals and deferred income
26,446
29,662

1,400,015
1,052,397


Page 7