IRIS Accounts Production v24.3.0.553 08442083 director 1.4.23 31.5.24 31.5.24 false true false false false true false Ordinary 1.00000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh084420832023-03-31084420832024-05-31084420832023-04-012024-05-31084420832022-03-31084420832022-04-012023-03-31084420832023-03-3108442083ns15:EnglandWales2023-04-012024-05-3108442083ns14:PoundSterling2023-04-012024-05-3108442083ns10:Director12023-04-012024-05-3108442083ns10:PrivateLimitedCompanyLtd2023-04-012024-05-3108442083ns10:SmallEntities2023-04-012024-05-3108442083ns10:AuditExempt-NoAccountantsReport2023-04-012024-05-3108442083ns10:SmallCompaniesRegimeForDirectorsReport2023-04-012024-05-3108442083ns10:SmallCompaniesRegimeForAccounts2023-04-012024-05-3108442083ns10:FullAccounts2023-04-012024-05-310844208312023-04-012024-05-3108442083ns10:OrdinaryShareClass12023-04-012024-05-3108442083ns10:RegisteredOffice2023-04-012024-05-3108442083ns5:CurrentFinancialInstruments2024-05-3108442083ns5:CurrentFinancialInstruments2023-03-3108442083ns5:Non-currentFinancialInstruments2024-05-3108442083ns5:Non-currentFinancialInstruments2023-03-3108442083ns5:ShareCapital2024-05-3108442083ns5:ShareCapital2023-03-3108442083ns5:RetainedEarningsAccumulatedLosses2024-05-3108442083ns5:RetainedEarningsAccumulatedLosses2023-03-3108442083ns5:IntangibleAssetsOtherThanGoodwill2023-04-012024-05-3108442083ns5:ComputerSoftware2023-04-012024-05-3108442083ns5:FurnitureFittings2023-04-012024-05-3108442083ns5:MotorVehicles2023-04-012024-05-3108442083ns5:ComputerEquipment2023-04-012024-05-3108442083ns5:ComputerSoftware2024-05-3108442083ns5:FurnitureFittings2023-03-3108442083ns5:MotorVehicles2023-03-3108442083ns5:ComputerEquipment2023-03-3108442083ns5:FurnitureFittings2024-05-3108442083ns5:MotorVehicles2024-05-3108442083ns5:ComputerEquipment2024-05-3108442083ns5:FurnitureFittings2023-03-3108442083ns5:MotorVehicles2023-03-3108442083ns5:ComputerEquipment2023-03-3108442083ns5:MotorVehiclesns5:LeasedAssetsHeldAsLessee2023-04-012024-05-3108442083ns5:MotorVehiclesns5:LeasedAssetsHeldAsLessee2024-05-3108442083ns5:CurrentFinancialInstrumentsns5:WithinOneYear2024-05-3108442083ns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-03-3108442083ns5:Secured2024-05-3108442083ns5:Secured2023-03-3108442083ns5:DeferredTaxation2023-03-3108442083ns5:DeferredTaxation2023-04-012024-05-3108442083ns5:DeferredTaxation2024-05-3108442083ns10:OrdinaryShareClass12024-05-3108442083ns10:Director22023-04-012024-05-3108442083ns10:Director222023-03-3108442083ns10:Director222022-03-3108442083ns10:Director222023-04-012024-05-3108442083ns10:Director222022-04-012023-03-3108442083ns10:Director222024-05-3108442083ns10:Director222023-03-31
REGISTERED NUMBER: 08442083 (England and Wales)















FINANCIAL STATEMENTS

FOR THE PERIOD 1 APRIL 2023 TO 31 MAY 2024

FOR

FIBRE WAVE INSTALLATIONS LIMITED

FIBRE WAVE INSTALLATIONS LIMITED (REGISTERED NUMBER: 08442083)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE PERIOD 1 APRIL 2023 TO 31 MAY 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


FIBRE WAVE INSTALLATIONS LIMITED

COMPANY INFORMATION
FOR THE PERIOD 1 APRIL 2023 TO 31 MAY 2024







DIRECTOR: Mr S Kealey





REGISTERED OFFICE: 10 Courtland Avenue
Whitfield
Dover
CT16 3HR





REGISTERED NUMBER: 08442083 (England and Wales)





ACCOUNTANTS: MGR SD Limited
Chartered Accountants
55 Loudoun Road
London
NW8 0DL

FIBRE WAVE INSTALLATIONS LIMITED (REGISTERED NUMBER: 08442083)

BALANCE SHEET
31 MAY 2024

31.5.24 31.3.23
Notes £    £   
FIXED ASSETS
Intangible assets 4 9,010 -
Tangible assets 5 53,562 14,304
62,572 14,304

CURRENT ASSETS
Stocks 132,855 758,936
Debtors 6 562,342 992,029
Cash at bank 1,119,931 406,628
1,815,128 2,157,593
CREDITORS
Amounts falling due within one year 7 (755,085 ) (1,836,927 )
NET CURRENT ASSETS 1,060,043 320,666
TOTAL ASSETS LESS CURRENT LIABILITIES 1,122,615 334,970

CREDITORS
Amounts falling due after more than one
year

8

(39,538

)

(28,167

)

PROVISIONS FOR LIABILITIES 10 (10,142 ) -
NET ASSETS 1,072,935 306,803

CAPITAL AND RESERVES
Called up share capital 11 100 100
Retained earnings 1,072,835 306,703
SHAREHOLDERS' FUNDS 1,072,935 306,803

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

The members have not required the company to obtain an audit of its financial statements for the period ended 31 May 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.

FIBRE WAVE INSTALLATIONS LIMITED (REGISTERED NUMBER: 08442083)

BALANCE SHEET - continued
31 MAY 2024


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 director and authorised for issue on 22 November 2024 and were signed by:





Mr S Kealey - Director


FIBRE WAVE INSTALLATIONS LIMITED (REGISTERED NUMBER: 08442083)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD 1 APRIL 2023 TO 31 MAY 2024


1. STATUTORY INFORMATION

Fibre Wave Installations 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.

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.

The revenue and costs of the company's long term contracts are recognised by reference to the degree of completion of each contract, provided that the outcome can be reliably estimated. When the outcome cannot be reliably estimated, revenue is recognised only to the extent that it is probable the expenses recognised will be recovered.

Where recognised turnover exceeds applicable payments on account, the balance is shown as amounts recoverable on contracts. Where payments on account exceeds recognised turnover, the balance is shown as payments on account.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Computer software is being amortised evenly over its estimated useful life of ten years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Construction equipment - Straight line over 8 years
Motor vehicles - Straight line over 4 years
Office equipment - 20% on reducing balance

Stock
Stock has been valued at the lower of cost and net realisable value. Cost includes a relevant proportion of overheads according to the stage of completion.

Taxation
Taxation for the period 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.


FIBRE WAVE INSTALLATIONS LIMITED (REGISTERED NUMBER: 08442083)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 1 APRIL 2023 TO 31 MAY 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 period 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.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the period was 29 (2023 - 29 ) .

FIBRE WAVE INSTALLATIONS LIMITED (REGISTERED NUMBER: 08442083)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 1 APRIL 2023 TO 31 MAY 2024


4. INTANGIBLE FIXED ASSETS
Computer
software
£   
COST
Additions 10,200
At 31 May 2024 10,200
AMORTISATION
Amortisation for period 1,190
At 31 May 2024 1,190
NET BOOK VALUE
At 31 May 2024 9,010

5. TANGIBLE FIXED ASSETS
Construction Motor Office
equipment vehicles equipment Totals
£    £    £    £   
COST
At 1 April 2023 61,000 48,505 12,139 121,644
Additions - 43,000 2,563 45,563
At 31 May 2024 61,000 91,505 14,702 167,207
DEPRECIATION
At 1 April 2023 61,000 43,618 2,722 107,340
Charge for period - 3,804 2,501 6,305
At 31 May 2024 61,000 47,422 5,223 113,645
NET BOOK VALUE
At 31 May 2024 - 44,083 9,479 53,562
At 31 March 2023 - 4,887 9,417 14,304

FIBRE WAVE INSTALLATIONS LIMITED (REGISTERED NUMBER: 08442083)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 1 APRIL 2023 TO 31 MAY 2024


5. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
Additions 43,000
At 31 May 2024 43,000
DEPRECIATION
Charge for period 1,792
At 31 May 2024 1,792
NET BOOK VALUE
At 31 May 2024 41,208

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.24 31.3.23
£    £   
Trade debtors 51,446 310,963
Amounts recoverable on contract 484,235 -
Other debtors 26,661 681,066
562,342 992,029

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.24 31.3.23
£    £   
Bank loans and overdrafts 14,085 13,000
Hire purchase contracts 14,333 -
Trade creditors 86,232 993,896
Taxation and social security 628,689 819,838
Other creditors 11,746 10,193
755,085 1,836,927

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.5.24 31.3.23
£    £   
Bank loans 12,066 28,167
Hire purchase contracts 27,472 -
39,538 28,167

FIBRE WAVE INSTALLATIONS LIMITED (REGISTERED NUMBER: 08442083)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 1 APRIL 2023 TO 31 MAY 2024


9. SECURED DEBTS

The following secured debts are included within creditors:

31.5.24 31.3.23
£    £   
Bank loans 26,151 41,167
Hire purchase contracts 41,805 -
67,956 41,167

The bank loan is secured under the Coronavirus Business Interruption Loan Scheme and the hire purchase liability is secured by the assets financed.

10. PROVISIONS FOR LIABILITIES
31.5.24
£   
Deferred tax 10,142

Deferred
tax
£   
Balance at 1 April 2023 (510 )
Charge to Income Statement during period 10,652
Balance at 31 May 2024 10,142

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.5.24 31.3.23
value: £    £   
100 Ordinary £1 100 100

12. PENSION COMMITMENTS

The company makes payments to a defined contribution scheme. Amounts charged to the profit and loss account for the year were £31,433 (2023: £24,766). At the year end there were employer pension contributions outstanding of £2,183 (2023: £2,183).

FIBRE WAVE INSTALLATIONS LIMITED (REGISTERED NUMBER: 08442083)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 1 APRIL 2023 TO 31 MAY 2024


13. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the period ended 31 May 2024 and the year ended 31 March 2023:

31.5.24 31.3.23
£    £   
Mr J R Allison
Balance outstanding at start of period 484,712 265,970
Amounts advanced 23,288 218,742
Amounts repaid (508,000 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of period - 484,712