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REGISTERED NUMBER: 06787617 (England and Wales)



















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

TANGENT WAVE LIMITED

TANGENT WAVE LIMITED (REGISTERED NUMBER: 06787617)






CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 31 DECEMBER 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


TANGENT WAVE LIMITED

COMPANY INFORMATION
for the Year Ended 31 DECEMBER 2023







DIRECTOR: Mr A I Knox





REGISTERED OFFICE: 260 - 270 Butterfield
Great Marlings
Luton
Bedfordshire
LU2 8DL





REGISTERED NUMBER: 06787617 (England and Wales)





ACCOUNTANTS: Foxley Kingham
Chartered Accountants
260 - 270 Butterfield
Great Marlings
Luton
Bedfordshire
LU2 8DL

TANGENT WAVE LIMITED (REGISTERED NUMBER: 06787617)

BALANCE SHEET
31 DECEMBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 7,466 9,696

CURRENT ASSETS
Stocks 5 148,320 359,087
Debtors 6 32,626 27,066
Cash at bank 785,914 913,087
966,860 1,299,240
CREDITORS
Amounts falling due within one year 7 12,182 41,170
NET CURRENT ASSETS 954,678 1,258,070
TOTAL ASSETS LESS CURRENT
LIABILITIES

962,144

1,267,766

PROVISIONS FOR LIABILITIES 1,419 2,009
NET ASSETS 960,725 1,265,757

CAPITAL AND RESERVES
Called up share capital 8 100 100
Retained earnings 960,625 1,265,657
SHAREHOLDERS' FUNDS 960,725 1,265,757

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

TANGENT WAVE LIMITED (REGISTERED NUMBER: 06787617)

BALANCE SHEET - continued
31 DECEMBER 2023


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

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 director and authorised for issue on 26 September 2024 and were signed by:





Mr A I Knox - Director


TANGENT WAVE LIMITED (REGISTERED NUMBER: 06787617)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 31 DECEMBER 2023

1. STATUTORY INFORMATION

Tangent Wave Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 15% on reducing balance
Computer equipment - 25% on reducing balance

Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended by management.

Stocks
Stocks are initially measured and recognised at cost. After initial recognition, stock is measured at the lower of cost and net realiseable value, after making due allowance for obsolete and slow moving items.

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 balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

TANGENT WAVE LIMITED (REGISTERED NUMBER: 06787617)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 DECEMBER 2023

2. ACCOUNTING POLICIES - continued

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2022 - 6 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
At 1 January 2023 4,407 19,679 24,086
Additions - 1,166 1,166
Disposals (1,007 ) (5,759 ) (6,766 )
At 31 December 2023 3,400 15,086 18,486
DEPRECIATION
At 1 January 2023 1,570 12,820 14,390
Charge for year 369 1,794 2,163
Eliminated on disposal (627 ) (4,906 ) (5,533 )
At 31 December 2023 1,312 9,708 11,020
NET BOOK VALUE
At 31 December 2023 2,088 5,378 7,466
At 31 December 2022 2,837 6,859 9,696

5. STOCKS
2023 2022
£    £   
Stocks 148,320 359,087

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 4,394 13,913
Other debtors 100 100
Directors' loan accounts - 3,803
Tax 27,491 -
VAT 641 -
Prepayments and accrued income - 9,250
32,626 27,066

TANGENT WAVE LIMITED (REGISTERED NUMBER: 06787617)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 DECEMBER 2023

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts - 622
Trade creditors 1,922 16,515
Corporation tax (17 ) 13,528
Taxation and social security 8,877 6,916
VAT - 1,789
Accrued expenses 1,400 1,800
12,182 41,170

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
50 Ordinary A £1 50 50
50 Ordinary B £1 50 50
100 100

Ordinary A and B shares have rights to dividends and capital.

9. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 December 2023 and 31 December 2022:

2023 2022
£    £   
Mr C Rose
Balance outstanding at start of year 3,803 50,253
Amounts advanced 390 20,300
Amounts repaid (4,193 ) (66,750 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - 3,803