2023-01-012023-12-312023-12-31false13104450CHAINWAVE 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CHAINWAVE LIMITED

Registered Number
13104450
(England and Wales)

Unaudited Financial Statements for the Year ended
31 December 2023

CHAINWAVE LIMITED
Company Information
for the year from 1 January 2023 to 31 December 2023

Directors

MULRANEY, Edward George
MULRANEY, Louisa Mary

Registered Address

Pentwyn House
Llandogo
Monmouth
NP25 4TE

Registered Number

13104450 (England and Wales)
CHAINWAVE LIMITED
Statement of Financial Position
31 December 2023

Notes

2023

2022

£

£

£

£

Fixed assets
Intangible assets3644,889164,857
Tangible assets429,01937,576
673,908202,433
Current assets
Debtors154,03411,356
Cash at bank and on hand2,8023,697
156,83615,053
Creditors amounts falling due within one year(236,332)(164,092)
Net current assets (liabilities)(79,496)(149,039)
Total assets less current liabilities594,41253,394
Creditors amounts falling due after one year(22,862)-
Provisions for liabilities(6,825)(907)
Net assets564,72552,487
Capital and reserves
Called up share capital1010
Revaluation reserve129,363-
Profit and loss account435,35252,477
Shareholders' funds564,72552,487
The financial statements were approved and authorised for issue by the Board of Directors on 17 March 2025, and are signed on its behalf by:
MULRANEY, Edward George
Director
Registered Company No. 13104450
CHAINWAVE LIMITED
Notes to the Financial Statements
for the year ended 31 December 2023

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in accordance with the Companies Act 2006 and FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland including Section 1A Small Entities.
Deferred tax
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Intangible assets
Intangible assets are stated at their revalued amounts at the end of the year
Tangible fixed assets and depreciation
All fixed assets are initially recorded at cost. Property, plant and equipment is used in the company's principal activity for the production and supply of goods or for administrative purposes and is stated in the balance sheet under the historic cost model. This model requires the assets to be stated at cost less amounts in respect of depreciation and less any accumulated impairment losses. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value (which is the expected amount that would currently be obtained from disposal of an asset, after deducting the estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life), over the useful economic life of the respective asset as follows:
Finance leases and hire purchase contracts
Assets held under finance leases which are leases where substantially all the risks and rewards of ownership of the asset have passed to the company, and hire purchase contracts are capitalised in the balance sheet. They are depreciated over the shorter of their useful lives or the term of the lease.
2.Average number of employees

20232022
Average number of employees during the year22
3.Intangible assets

Total

£
Cost or valuation
At 01 January 23164,857
Additions90,777
Revaluations389,255
At 31 December 23644,889
Net book value
At 31 December 23644,889
At 31 December 22164,857
4.Tangible fixed assets

Total

£
Cost or valuation
At 01 January 2343,247
At 31 December 2343,247
Depreciation and impairment
At 01 January 235,671
Charge for year8,557
At 31 December 2314,228
Net book value
At 31 December 2329,019
At 31 December 2237,576
5.Obligations under finance leases

2023

2022

££
Finance lease and HP contracts22,862-