Waverunner Holdings Limited 14118587 false 2023-06-01 2024-05-31 2024-05-31 The principal activity of the company is Other amusement and recreation activities. Digita Accounts Production Advanced 6.30.9574.0 true true 14118587 2023-06-01 2024-05-31 14118587 2024-05-31 14118587 bus:OrdinaryShareClass1 2024-05-31 14118587 core:CurrentFinancialInstruments 2024-05-31 14118587 core:CurrentFinancialInstruments core:WithinOneYear 2024-05-31 14118587 core:Non-currentFinancialInstruments core:AfterOneYear 2024-05-31 14118587 core:LandBuildings core:OwnedOrFreeholdAssets 2024-05-31 14118587 bus:SmallEntities 2023-06-01 2024-05-31 14118587 bus:AuditExemptWithAccountantsReport 2023-06-01 2024-05-31 14118587 bus:FullAccounts 2023-06-01 2024-05-31 14118587 bus:SmallCompaniesRegimeForAccounts 2023-06-01 2024-05-31 14118587 bus:RegisteredOffice 2023-06-01 2024-05-31 14118587 bus:Director1 2023-06-01 2024-05-31 14118587 bus:Director2 2023-06-01 2024-05-31 14118587 bus:OrdinaryShareClass1 2023-06-01 2024-05-31 14118587 bus:PrivateLimitedCompanyLtd 2023-06-01 2024-05-31 14118587 core:LandBuildings core:OwnedOrFreeholdAssets 2023-06-01 2024-05-31 14118587 countries:AllCountries 2023-06-01 2024-05-31 14118587 2023-05-31 14118587 core:LandBuildings core:OwnedOrFreeholdAssets 2023-05-31 14118587 2022-05-19 2023-05-31 14118587 2023-05-31 14118587 bus:OrdinaryShareClass1 2023-05-31 14118587 core:CurrentFinancialInstruments 2023-05-31 14118587 core:CurrentFinancialInstruments core:WithinOneYear 2023-05-31 14118587 core:Non-currentFinancialInstruments core:AfterOneYear 2023-05-31 14118587 core:LandBuildings core:OwnedOrFreeholdAssets 2023-05-31 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 14118587

Waverunner Holdings Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 31 May 2024

 

Waverunner Holdings Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 7

 

Waverunner Holdings Limited

Company Information

Directors

Mr James Peter Davis

Miss Melanie Underwood

Registered office

68 Nottingham Road
Eastwood
Nottingham
NG16 3NQ

Accountants

M Ball & Co Limited
The Hemington
Millhouse Business Centre
Station Road
Castle Donington
Derby
DE74 2NJ

 

Waverunner Holdings Limited

(Registration number: 14118587)
Balance Sheet as at 31 May 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

366,040

361,240

Current assets

 

Debtors

5

21,100

100

Creditors: Amounts falling due within one year

6

(144,160)

(116,966)

Net current liabilities

 

(123,060)

(116,866)

Total assets less current liabilities

 

242,980

244,374

Creditors: Amounts falling due after more than one year

6

(229,950)

(244,389)

Net assets/(liabilities)

 

13,030

(15)

Capital and reserves

 

Called up share capital

7

100

100

Retained earnings

12,930

(115)

Shareholders' funds/(deficit)

 

13,030

(15)

For the financial year ending 31 May 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

 

Waverunner Holdings Limited

(Registration number: 14118587)
Balance Sheet as at 31 May 2024

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

Approved and authorised by the Board on 14 January 2025 and signed on its behalf by:
 

.........................................
Mr James Peter Davis
Director

.........................................
Miss Melanie Underwood
Director

 

Waverunner Holdings Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2024

1

General information

The company is a private company limited by share capital, incorporated in England & Wales.

The address of its registered office is:
68 Nottingham Road
Eastwood
Nottingham
NG16 3NQ
England

These financial statements were authorised for issue by the Board on 14 January 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

 

Waverunner Holdings Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2024

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

 

Waverunner Holdings Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2024

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2023 - 2).

4

Tangible assets

Land and buildings
£

Total
£

Cost or valuation

At 1 June 2023

361,240

361,240

Additions

4,800

4,800

At 31 May 2024

366,040

366,040

Depreciation

Carrying amount

At 31 May 2024

366,040

366,040

At 31 May 2023

361,240

361,240

Included within the net book value of land and buildings above is £366,040 (2023 - £361,240) in respect of freehold land and buildings.
 

5

Debtors

Current

2024
£

2023
£

Other debtors

21,100

100

 

21,100

100

 

Waverunner Holdings Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2024

6

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

3,657

3,220

Amounts owed to group undertakings and undertakings in which the company has a participating interest

136,050

112,326

Taxation and social security

 

3,033

-

Accruals and deferred income

 

1,420

1,420

 

144,160

116,966

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

229,950

244,389

7

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary Shares of £1 each

100

100

100

100