Company Registration No. 14747606 (England and Wales)
Wavelength UK BAB Limited
Annual report and unaudited financial statements
for the period ended 31 March 2024
Wavelength UK BAB Limited
Company information
Directors
Mr J Plummer
(Appointed 22 March 2023)
Miss J Westphal
(Appointed 22 March 2023)
Company number
14747606
Registered office
71 Queen Victoria Street
London
EC4V 4BE
Accountants
Saffery LLP
71 Queen Victoria Street
London
EC4V 4BE
Wavelength UK BAB Limited
Contents
Page
Directors' report
1
Directors' responsibilities statement
2
Income statement
3
Statement of financial position
4
Notes to the financial statements
5 - 7
Wavelength UK BAB Limited
Directors' report
For the period ended 31 March 2024
1
The directors present their annual report and financial statements for the period ended 31 March 2024. The company was incorporated on 22 March 2023 and began trading on the same day.
Principal activities
The principal activity of the company is that of television programme production.
Directors
The directors who held office during the period and up to the date of signature of the financial statements were as follows:
Mr J Plummer
(Appointed 22 March 2023)
Miss J Westphal
(Appointed 22 March 2023)
Going Concern
In preparing the financial statements of the company, the directors have made an assessment of the next twelve months' performance from the signing date and consider preparation on a going concern as appropriate (see Note 1.3).
Small companies exemption
This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.
On behalf of the board
Miss J Westphal
Director
10 March 2025
Wavelength UK BAB Limited
Directors' responsibilities statement
For the period ended 31 March 2024
2
The directors are responsible for preparing the annual report and the financial statements in accordance with applicable law and regulations.
Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law).
Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:
select suitable accounting policies and then apply them consistently;
make judgements and accounting estimates that are reasonable and prudent;
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.
The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company’s transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Wavelength UK BAB Limited
Income statement
For the period ended 31 March 2024
3
Period
ended
31 March
2024
£
Turnover
-
Cost of sales
(254,350)
Gross (loss)/profit
(254,350)
Administrative expenses
(5,000)
Loss before taxation
(259,350)
Tax on loss
Loss for the financial period
(259,350)
The income statement has been prepared on the basis that all operations are continuing operations.
Wavelength UK BAB Limited
Statement of financial position
As at 31 March 2024
4
2024
Notes
£
£
Current assets
Debtors
3
1
Cash at bank and in hand
127
128
Creditors: amounts falling due within one year
4
(259,477)
Net current liabilities
(259,349)
Capital and reserves
Called up share capital
5
1
Profit and loss reserves
(259,350)
Total equity
(259,349)
For the financial period ended 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
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 members have not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476.
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved by the board of directors and authorised for issue on 10 March 2025 and are signed on its behalf by:
Miss J Westphal
Director
Company Registration No. 14747606
Wavelength UK BAB Limited
Notes to the financial statements
For the period ended 31 March 2024
5
1
Accounting policies
Company information
Wavelength UK BAB Limited is a private company limited by shares incorporated in England and Wales. The registered office is 71 Queen Victoria Street, London, EC4V 4BE, United Kingdom.
1.1
Reporting period
The current reporting period of accounts is 22 March 2023 to 31 March 2024.
1.2
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. 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 financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention.The principal accounting policies adopted are set out below.
1.3
Going concern
Atruet the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.
1.4
Turnover
In respect of long-term contracts for ongoing services, turnover represents the value of work done in the period, including estimates of amounts not invoiced. Value of work done in respect of long-term contracts and contracts for ongoing services is determined by reference to the stage of completion.
The "percentage of completion method" is used to determine the appropriate amount to recognise in a given period. The stage of completion is measured by the proportion of contract costs incurred for work performed to date compared to the estimated total contract costs. Costs incurred in the period in connection with future activity on a contract are excluded from contract costs in determining the stage of completion. These costs are presented as stocks, prepayments, or other assets depending on their nature, and provided it is probable they will be recovered.
1.5
Cash and cash equivalents
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
Wavelength UK BAB Limited
Notes to the financial statements (continued)
For the period ended 31 March 2024
1
Accounting policies (continued)
6
1.6
Financial instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the company's statement of financial position when the company becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
Basic financial assets
Basic financial assets, which include debtors, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
Classification of financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
1.7
Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.
1.8
Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
Wavelength UK BAB Limited
Notes to the financial statements (continued)
For the period ended 31 March 2024
7
2
Employees
The average monthly number of persons (including directors) employed by the company during the period was:
2024
Number
Total
1
3
Debtors
2024
Amounts falling due within one year:
£
Amounts owed by parent undertaking
1
4
Creditors: amounts falling due within one year
2024
£
Amounts owed to group undertakings
254,477
Other creditors
5,000
259,477
5
Called up share capital
2024
2024
Ordinary share capital
Number
£
Issued and fully paid
Ordinary shares of £1 each of £1 each
1
1
6
Ultimate controlling party
The ultimate controlling party is Jenifer Westphal, who is one of the directors of the company.