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REGISTERED NUMBER: 04073589 (England and Wales)














Unaudited Financial Statements

for the Year Ended 31 March 2024

for

WAVE INTERNATIONAL LIMITED

WAVE INTERNATIONAL LIMITED (REGISTERED NUMBER: 04073589)






Contents of the Financial Statements
for the Year Ended 31 March 2024




Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4

Accountants' Report 7

WAVE INTERNATIONAL LIMITED

Company Information
for the Year Ended 31 March 2024







Director: P D Maxfield Gullett





Registered office: Axholme Lodge
Newton Way
Woolsthorpe by Colsterworth
Grantham
Lincolnshire
NG33 5NP





Registered number: 04073589 (England and Wales)





Accountants: Mitchell Gordon LLP
43 Coniscliffe Road
Darlington
Co. Durham
DL3 7EH

WAVE INTERNATIONAL LIMITED (REGISTERED NUMBER: 04073589)

Abridged Balance Sheet
31 March 2024

31/3/24 31/3/23
Notes £    £    £    £   
Fixed assets
Intangible assets 4 582 763
Tangible assets 5 5,437 7,328
6,019 8,091

Current assets
Stocks 13,701 15,262
Debtors 53,984 56,406
Cash at bank 20,205 38,536
87,890 110,204
Creditors
Amounts falling due within one year 64,580 79,981
Net current assets 23,310 30,223
Total assets less current liabilities 29,329 38,314

Creditors
Amounts falling due after more than one
year

(9,985

)

(17,949

)

Provisions for liabilities (363 ) (627 )
Net assets 18,981 19,738

Capital and reserves
Called up share capital 100 100
Retained earnings 18,881 19,638
Shareholders' funds 18,981 19,738

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 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.

WAVE INTERNATIONAL LIMITED (REGISTERED NUMBER: 04073589)

Abridged Balance Sheet - continued
31 March 2024


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

All the members have consented to the preparation of an abridged Income Statement and an abridged Balance Sheet for the year ended 31 March 2024 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 4 October 2024 and were signed by:





P D Maxfield Gullett - Director


WAVE INTERNATIONAL LIMITED (REGISTERED NUMBER: 04073589)

Notes to the Financial Statements
for the Year Ended 31 March 2024

1. STATUTORY INFORMATION

Wave International 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.

The financial statements have been prepared under the going concern basis of accounting.

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

Intangible fixed assets
Licensing costs
These represent the costs of obtaining Lloyds Register of Shipping specification approval for marine use of filters. The type approval license obtained is for a five year period ending 31 October 2020 and accordingly these costs are being amortized over that period on a straight line basis.

Website costs
These represent the cost of building a website. They are being amortised over 5 years on a straight line basis.

Trade marks costs
Trade mark in perpetuity as long as it is reviewed every 10 years.

Research and development costs
These comprise of costs relating to the development of the Wavebrite product. They are being amortized over 5 years on a straight line basis.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 20% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 25% on cost

Stocks
Stocks are valued at the lower of cost and net realisable 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 Income Statement, 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.


WAVE INTERNATIONAL LIMITED (REGISTERED NUMBER: 04073589)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

2. ACCOUNTING POLICIES - continued
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.

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 3 (2023 - 3 ) .

4. INTANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 April 2023
and 31 March 2024 41,599
AMORTISATION
At 1 April 2023 40,836
Amortisation for year 181
At 31 March 2024 41,017
NET BOOK VALUE

At 31 March 2024 582
At 31 March 2023 763

WAVE INTERNATIONAL LIMITED (REGISTERED NUMBER: 04073589)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

5. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 April 2023
and 31 March 2024 18,480
DEPRECIATION
At 1 April 2023 11,152
Charge for year 1,891
At 31 March 2024 13,043
NET BOOK VALUE
At 31 March 2024 5,437
At 31 March 2023 7,328

Accountants' Report to the Director
on the Unaudited Financial Statements of
Wave International Limited

The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Abridged Income Statement and certain other primary statements and the Report of the Director are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Wave International Limited for the year ended 31 March 2024 which comprise the Abridged Income Statement, Abridged Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/rulebook.

This report is made solely to the director of Wave International Limited in accordance with the terms of our engagement letter dated 9 September 2024. Our work has been undertaken solely to prepare for your approval the financial statements of Wave International Limited and state those matters that we have agreed to state to the director of Wave International Limited in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/factsheet163. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its director for our work or for this report.

It is your duty to ensure that Wave International Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Wave International Limited. You consider that Wave International Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Wave International Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Mitchell Gordon LLP
43 Coniscliffe Road
Darlington
Co. Durham
DL3 7EH


4 October 2024