Registered number
10479207
Wave Air Conditioning Services Ltd
Filleted Accounts
30 November 2023
Wave Air Conditioning Services Ltd
Registered number: 10479207
Balance Sheet
as at 30 November 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 - 2,192
Current assets
Stocks - 2,750
Debtors 4 100,004 155,064
Cash at bank and in hand 4,474 5,554
104,478 163,368
Creditors: amounts falling due within one year 5 (45,532) (91,311)
Net current assets 58,946 72,057
Net assets 58,946 74,249
Capital and reserves
Called up share capital 103 103
Profit and loss account 58,843 74,146
Shareholders' funds 58,946 74,249
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
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.
D A Norris
Director
Approved by the board on 4 August 2024
Wave Air Conditioning Services Ltd
Notes to the Accounts
for the year ended 30 November 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery 25% on a reducing balance
Fixtures, fittings, tools and equipment 25% on a reducing balance
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Taxation
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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 2 2
3 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 December 2022 9,486
At 30 November 2023 9,486
Depreciation
At 1 December 2022 7,294
Charge for the year 2,192
At 30 November 2023 9,486
Net book value
At 30 November 2023 -
At 30 November 2022 2,192
4 Debtors 2023 2022
£ £
Trade debtors 85,000 141,213
Other debtors 15,004 13,851
100,004 155,064
5 Creditors: amounts falling due within one year 2023 2022
£ £
Trade creditors 12 -
Taxation and social security costs 15,000 27,885
Other creditors 30,520 63,426
45,532 91,311
6 Controlling party
The company is controlled by D A and L J Norris on the basis that they together with associates control 100% of the ordinary issued share capital of the company.
7 Other information
Wave Air Conditioning Services Ltd is a private company limited by shares and incorporated in England. Its registered office is:
Pennyweights
Kenley
CR8 5HB
Wave Air Conditioning Services Ltd 10479207 false 2022-12-01 2023-11-30 2023-11-30 VT Final Accounts October 2023 release 2 D A Norris No description of principal activity 10479207 2021-12-01 2022-11-30 10479207 core:WithinOneYear 2022-11-30 10479207 core:ShareCapital 2022-11-30 10479207 core:RetainedEarningsAccumulatedLosses 2022-11-30 10479207 2022-12-01 2023-11-30 10479207 bus:PrivateLimitedCompanyLtd 2022-12-01 2023-11-30 10479207 bus:AuditExemptWithAccountantsReport 2022-12-01 2023-11-30 10479207 bus:Director40 2022-12-01 2023-11-30 10479207 core:PlantMachinery 2022-12-01 2023-11-30 10479207 countries:England 2022-12-01 2023-11-30 10479207 bus:FRS102 2022-12-01 2023-11-30 10479207 bus:FullAccounts 2022-12-01 2023-11-30 10479207 2023-11-30 10479207 core:WithinOneYear 2023-11-30 10479207 core:ShareCapital 2023-11-30 10479207 core:RetainedEarningsAccumulatedLosses 2023-11-30 10479207 core:PlantMachinery 2023-11-30 10479207 2022-11-30 10479207 core:PlantMachinery 2022-11-30 iso4217:GBP xbrli:pure