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Registered number: 05572851
Waveley Fire And Security Limited
Unaudited Financial Statements
For The Year Ended 31 March 2024
James Khan
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 05572851
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 6,028 14,455
6,028 14,455
CURRENT ASSETS
Stocks 5 30,000 78,000
Debtors 6 176,793 227,098
Cash at bank and in hand 1 10,681
206,794 315,779
Creditors: Amounts Falling Due Within One Year 7 (22,106 ) (99,748 )
NET CURRENT ASSETS (LIABILITIES) 184,688 216,031
TOTAL ASSETS LESS CURRENT LIABILITIES 190,716 230,486
Creditors: Amounts Falling Due After More Than One Year 8 (20,000 ) (25,000 )
NET ASSETS 170,716 205,486
CAPITAL AND RESERVES
Called up share capital 10 100 100
Profit and Loss Account 170,616 205,386
SHAREHOLDERS' FUNDS 170,716 205,486
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For the year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr John Miller
Director
26/06/2024
The notes on pages 3 to 5 form part of these financial statements.
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Page 3
Notes to the Financial Statements
1. General Information
Waveley Fire And Security Limited is a private company, limited by shares, incorporated in England & Wales, registered number 05572851 . The registered office is Unit 13 Stadium Close, Penarth Road, Cardiff, CF11 8TS.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Going Concern Disclosure
The directors have not identified any material uncertainties related to events or conditions that may cast significant doubt about the company's ability to continue as a going concern.
2.3. Turnover
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 sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 15% reducing balance
Motor Vehicles 25% reducing balance
Fixtures & Fittings 15% reducing balance
Computer Equipment 20% on cost
2.5. Leasing and Hire Purchase Contracts
Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account as incurred.
2.6. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
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2.7. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other year and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.

3. Average Number of Employees
Average number of employees, including directors, during the year was: 1 (2023: 6)
1 6
4. Tangible Assets
Plant & Machinery Motor Vehicles Fixtures & Fittings Computer Equipment Total
£ £ £ £ £
Cost
As at 1 April 2023 2,116 53,243 6,616 28,824 90,799
Disposals - (27,455 ) - - (27,455 )
As at 31 March 2024 2,116 25,788 6,616 28,824 63,344
Depreciation
As at 1 April 2023 1,974 40,693 5,615 28,062 76,344
Provided during the period 22 1,535 151 307 2,015
Disposals - (21,043 ) - - (21,043 )
As at 31 March 2024 1,996 21,185 5,766 28,369 57,316
Net Book Value
As at 31 March 2024 120 4,603 850 455 6,028
As at 1 April 2023 142 12,550 1,001 762 14,455
5. Stocks
2024 2023
£ £
Materials 12,000 36,000
Work in progress 18,000 42,000
30,000 78,000
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 60,000 35,687
Prepayments and accrued income 2,016 2,016
Other debtors 103,338 179,631
Corporation tax recoverable assets 9,764 9,764
VAT 1,675 -
176,793 227,098
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7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors - 51,157
Bank loans and overdrafts 19,745 19,583
Other taxes and social security - 7,787
VAT - 6,732
Other creditors - 339
Accruals and deferred income 550 13,220
Director's loan account 1,811 930
22,106 99,748
8. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Other loans (Long term liabilities - creditors > 1 year) 20,000 25,000
10. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
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