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REGISTERED NUMBER: 10446060 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 October 2023

for

Seventhwave Swanage Ltd

Seventhwave Swanage Ltd (Registered number: 10446060)






Contents of the Financial Statements
for the Year Ended 31 October 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Seventhwave Swanage Ltd

Company Information
for the Year Ended 31 October 2023







DIRECTORS: Mrs E Dunkerley
M K Tipple





SECRETARY: Mrs K L Delahay





REGISTERED OFFICE: Durlston Country Park
Lighthouse Road
Swanage
BH19 2JL





REGISTERED NUMBER: 10446060 (England and Wales)





ACCOUNTANTS: AR Jones
Prospect House
41 Peverell Avenue East
Poundbury
Dorchester
DT1 3WE

Seventhwave Swanage Ltd (Registered number: 10446060)

Balance Sheet
31 October 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 8,860 12,323

CURRENT ASSETS
Stocks 5,000 7,115
Debtors 5 9,583 11,527
Cash at bank and in hand 127,129 143,801
141,712 162,443
CREDITORS
Amounts falling due within one year 6 97,897 105,196
NET CURRENT ASSETS 43,815 57,247
TOTAL ASSETS LESS CURRENT
LIABILITIES

52,675

69,570

CREDITORS
Amounts falling due after more than one
year

7

(19,333

)

(27,333

)

PROVISIONS FOR LIABILITIES (1,546 ) (2,341 )
NET ASSETS 31,796 39,896

CAPITAL AND RESERVES
Called up share capital 8 100 100
Retained earnings 31,696 39,796
SHAREHOLDERS' FUNDS 31,796 39,896

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

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

The directors acknowledge their 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.

Seventhwave Swanage Ltd (Registered number: 10446060)

Balance Sheet - continued
31 October 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 31 October 2024 and were signed on its behalf by:




Mrs E Dunkerley - Director



M K Tipple - Director


Seventhwave Swanage Ltd (Registered number: 10446060)

Notes to the Financial Statements
for the Year Ended 31 October 2023

1. STATUTORY INFORMATION

Seventhwave Swanage Ltd 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.

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.
Short leasehold - Straight line over 5 years
Plant and machinery - Straight line over 4 years
Computer equipment - Straight line over 3 years

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.

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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

Seventhwave Swanage Ltd (Registered number: 10446060)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2023

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 19 (2022 - 20 ) .

4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 November 2022 4,383 27,848 32,231
Additions 723 1,531 2,254
At 31 October 2023 5,106 29,379 34,485
DEPRECIATION
At 1 November 2022 4,383 15,525 19,908
Charge for year - 5,717 5,717
At 31 October 2023 4,383 21,242 25,625
NET BOOK VALUE
At 31 October 2023 723 8,137 8,860
At 31 October 2022 - 12,323 12,323

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 9,333 -
Other debtors 250 11,527
9,583 11,527

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 8,000 8,000
Trade creditors 11,842 14,090
Taxation and social security 43,831 44,178
Other creditors 34,224 38,928
97,897 105,196

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans 19,333 27,333

Seventhwave Swanage Ltd (Registered number: 10446060)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2023

8. CALLED UP SHARE CAPITAL

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

9. RELATED PARTY DISCLOSURES

Included within creditors: amounts falling due within one year is a loan from Mrs E Dunkerley, director, amounting to £82 (2022 - £4,748.) This loan is interest free and repayable on demand.

Included within creditors: amounts falling due within one year is a loan from M K Tipple, director, amounting to £255 (2022 - £5,036.) This loan is interest free and repayable on demand.

10. ULTIMATE CONTROLLING PARTY

The company is controlled by Mrs E Dunkerley, director, and M K Tipple, director, who each hold 50% of the company's issued share capital.