Caseware UK (AP4) 2023.0.135 2023.0.135 2024-01-312024-01-31falsefalsetrue2false2023-01-16Other retail sale in non-specialised storesThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 14595104 2023-01-15 14595104 2023-01-16 2024-01-31 14595104 2022-01-16 2023-01-15 14595104 2024-01-31 14595104 c:Director1 2023-01-16 2024-01-31 14595104 d:OfficeEquipment 2023-01-16 2024-01-31 14595104 d:OfficeEquipment 2024-01-31 14595104 d:OfficeEquipment d:OwnedOrFreeholdAssets 2023-01-16 2024-01-31 14595104 d:ComputerEquipment 2023-01-16 2024-01-31 14595104 d:ComputerEquipment 2024-01-31 14595104 d:ComputerEquipment d:OwnedOrFreeholdAssets 2023-01-16 2024-01-31 14595104 d:OwnedOrFreeholdAssets 2023-01-16 2024-01-31 14595104 d:CurrentFinancialInstruments 2024-01-31 14595104 d:CurrentFinancialInstruments d:WithinOneYear 2024-01-31 14595104 d:ShareCapital 2024-01-31 14595104 d:RetainedEarningsAccumulatedLosses 2024-01-31 14595104 c:OrdinaryShareClass1 2023-01-16 2024-01-31 14595104 c:OrdinaryShareClass1 2024-01-31 14595104 c:FRS102 2023-01-16 2024-01-31 14595104 c:AuditExempt-NoAccountantsReport 2023-01-16 2024-01-31 14595104 c:FullAccounts 2023-01-16 2024-01-31 14595104 c:PrivateLimitedCompanyLtd 2023-01-16 2024-01-31 14595104 2 2023-01-16 2024-01-31 14595104 e:PoundSterling 2023-01-16 2024-01-31 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 14595104









WAVY GROUP LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE PERIOD ENDED 31 JANUARY 2024

 
WAVY GROUP LIMITED
REGISTERED NUMBER: 14595104

STATEMENT OF FINANCIAL POSITION
AS AT 31 JANUARY 2024

2024
Note
£

Fixed assets
  

Tangible assets
 4 
830

  
830

Current assets
  

Stocks
  
10,150

Debtors: amounts falling due within one year
 5 
1,622

Cash at bank and in hand
 6 
60,487

  
72,259

Creditors: amounts falling due within one year
 7 
(87,835)

Net current (liabilities)/assets
  
 
 
(15,576)

Total assets less current liabilities
  
(14,746)

  

Net (liabilities)/assets
  
(14,746)


Capital and reserves
  

Called up share capital 
  
2

Profit and loss account
  
(14,748)

  
(14,746)


Page 1

 
WAVY GROUP LIMITED
REGISTERED NUMBER: 14595104
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 JANUARY 2024

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the period in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 1 November 2024.




A H Booker
Director

The notes on pages 3 to 6 form part of these financial statements.

Page 2

 
WAVY GROUP LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 JANUARY 2024

1.


General information

Wavy Group Limited is a private company limited by shares, incorporated in England & Wales on 16 January 2023 (registered number: 14595104).  The registered office address of the company is 101 New Cavendish Street, 1st Floor South, London, United Kingdom, W1W 6XH.                                                       The financial statements are presented in Sterling, which is the functional currency of the company.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Going concern

The financial statements have been prepared on the going concern basis. The company is dependent on the directors and shareholders for financial support, which the directors are confident will continue for a period of at least another 12 months.
As at 31 January 2024, the company had net liabilities of £14,746. The directors and shareholders have indicated their present intention to provide adequate finance to enable the company to continue in operational existence and on this basis the director considers it appropriate to prepare the financial statements on the going concern basis.
The financial statements do not reflect any adjustments that would result from a withdrawal of financial support by the directors and shareholders.

 
2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

Page 3

 
WAVY GROUP LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 JANUARY 2024

2.Accounting policies (continued)

 
2.4

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.5

Borrowing costs

All borrowing costs are recognised in profit or loss in the period in which they are incurred.

 
2.6

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, SELECT OR ENTER METHOD.

Depreciation is provided on the following basis:

Office equipment
-

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.7

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each reporting date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.8

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.9

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

Page 4

 
WAVY GROUP LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 JANUARY 2024

2.Accounting policies (continued)

 
2.10

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.


3.


Employees

The average monthly number of employees, including directors, during the period was 2.


4.


Tangible fixed assets





Office equipment
Computer equipment
Total

£
£
£



Cost or valuation


Additions
958
-
958



At 31 January 2024

958
-
958



Depreciation


Charge for the period on owned assets
-
128
128



At 31 January 2024

-
128
128



Net book value



At 31 January 2024
958
(128)
830


5.


Debtors

2024
£


Trade debtors
61

Prepayments and accrued income
1,561

1,622


Page 5

 
WAVY GROUP LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 JANUARY 2024

6.


Cash and cash equivalents

2024
£

Cash at bank and in hand
60,487

Less: bank overdrafts
(491)

59,996



7.


Creditors: Amounts falling due within one year

2024
£

Bank overdrafts
491

Trade creditors
56,988

Other taxation and social security
3,068

Other creditors
24,788

Accruals and deferred income
2,500

87,835



8.


Share capital

2024
£
Allotted, called up and fully paid


2 Ordinary shares of £1.00 each
2


2 Ordinary share at £1.00 were issued at par on incorporation.

 
Page 6