Acorah Software Products - Accounts Production 16.2.850 false true true 31 December 2022 18 March 2022 false 1 January 2023 31 December 2023 31 December 2023 13986457 Mr K Richter iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 13986457 2022-12-31 13986457 2023-12-31 13986457 2023-01-01 2023-12-31 13986457 frs-core:CurrentFinancialInstruments 2023-12-31 13986457 frs-core:ComputerEquipment 2023-12-31 13986457 frs-core:ComputerEquipment 2023-01-01 2023-12-31 13986457 frs-core:ComputerEquipment 2022-12-31 13986457 frs-core:ShareCapital 2023-12-31 13986457 frs-core:RetainedEarningsAccumulatedLosses 2023-12-31 13986457 frs-bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 13986457 frs-bus:FilletedAccounts 2023-01-01 2023-12-31 13986457 frs-bus:SmallEntities 2023-01-01 2023-12-31 13986457 frs-bus:AuditExemptWithAccountantsReport 2023-01-01 2023-12-31 13986457 frs-bus:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 13986457 frs-bus:Director1 2023-01-01 2023-12-31 13986457 frs-core:CurrentFinancialInstruments 1 2023-12-31 13986457 frs-core:CurrentFinancialInstruments 2 2023-12-31 13986457 frs-countries:EnglandWales 2023-01-01 2023-12-31 13986457 2022-03-17 13986457 2022-12-31 13986457 2022-03-18 2022-12-31 13986457 frs-core:CurrentFinancialInstruments 2022-12-31 13986457 frs-core:ShareCapital 2022-12-31 13986457 frs-core:RetainedEarningsAccumulatedLosses 2022-12-31 13986457 frs-core:CurrentFinancialInstruments 1 2022-12-31 13986457 frs-core:CurrentFinancialInstruments 2 2022-12-31
Registered number: 13986457
S Wave UK Limited
Unaudited Financial Statements
For The Year Ended 31 December 2023
Goldwyns London LLP
Contents
Page
Accountant's Report 1
Statement of Financial Position 2
Notes to the Financial Statements 3—5
Page 1
Accountant's Report
Chartered Accountant's report to the director on the preparation of the unaudited statutory accounts of S Wave UK Limited For The Year Ended 31 December 2023
In order to assist you to fulfil your duties under the Companies Act 2006, I have prepared for your approval the accounts of S Wave UK Limited for the year ended 31 December 2023 which comprise the Income Statement, the Statement of Financial Position and the related notes from the company's accounting records and from information and explanations you have given to us.
As a practising member of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at http://www.icaew.com/en/membership/regulations-standards-and-guidance.
This report is made solely to the director of S Wave UK Limited , as a body, in accordance with the terms of our engagement letter signed For The Year Ended 31 December 2023. Our work has been undertaken solely to prepare for your approval the accounts of S Wave UK Limited and state those matters that we have agreed to state to the director of S Wave UK Limited , as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than S Wave UK Limited and its director, as a body, for our work or for this report.
It is your duty to ensure that S Wave UK Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit or loss of S Wave UK Limited . You consider that S Wave UK Limited is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit of the accounts of S Wave UK Limited . For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the financial statements.
Signed
10/04/2025
Goldwyns London LLP
No.1 Royal Exchange
London
EC3V 3DG
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Statement of Financial Position
Registered number: 13986457
31 December 2023 31 December 2022
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 5,300 -
5,300 -
CURRENT ASSETS
Debtors 5 80,182 44,154
Cash at bank and in hand 35,669 -
115,851 44,154
Creditors: Amounts Falling Due Within One Year 6 (72,837 ) (34,456 )
NET CURRENT ASSETS (LIABILITIES) 43,014 9,698
TOTAL ASSETS LESS CURRENT LIABILITIES 48,314 9,698
PROVISIONS FOR LIABILITIES
Deferred Taxation (1,007 ) -
NET ASSETS 47,307 9,698
CAPITAL AND RESERVES
Called up share capital 7 100 100
Income Statement 47,207 9,598
SHAREHOLDERS' FUNDS 47,307 9,698
For the year ending 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Income Statement.
On behalf of the board
Mr K Richter
Director
10/04/2025
The notes on pages 3 to 5 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
S Wave UK Limited is a private company, limited by shares, incorporated in England & Wales, registered number 13986457 . The registered office is C/O Goldwyns London LLP, No.1 Royal Exchange, London, United Kingdom, EC3V 3DG.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
These financial statements are prepared in accordance with the FRS 102 Section 1A Small Entities - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.
The financial statements are prepared in UK sterling, which is the financial currency of the entity. Monetary amounts in these financial statements are rounded to the nearest UK pound.
The principle accounting policies adopted are set below.
2.2. Going Concern Disclosure
The directors have considered the prospect of the business for the next twelve months and beyond and has arrived at a reasonable expectation the company will continue to meet its obligations as they fall due. The directors have also pledged their financial support to assist with this if required. On this basis, the directors will continue to adopt the going concern basis of accounting in preparing the financial statements.
2.3. Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Computer Equipment 33% Straight line
2.5. Financial Instruments
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors, creditors, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.
2.6. Taxation
Taxation for the year 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 statement of financial position date.
Deferred Tax
Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.
The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the year when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.
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2.7. Critical Accounting Judgements and Key Sources of Estimation Uncertainty
In the application of the company's accounting policies management is required to make judgements, estimates and assumptions about the carrying value of assets and liabilities that are not readily ascertainable from other sources. The estimates and underlying assumptions are based on historical experience and other factors that are considered to be relevant. Actual outcomes may differ from these estimates.
The estimates and underlying assumptions are reviewed on a continuing basis. Revisions to accounting estimates are recognised in the year in which the estimates are revised.
The key areas of estimation uncertainty that have a significant effect on the amounts recognised in the financial statements are described below:
Accrued Expenditure
The company includes a provision for invoices which are yet to be received from and amounts paid in advance to suppliers.These provisions are estimated based upon the expected values of the invoices which are issued and services received following the year end.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 11 (2022: 5)
11 5
4. Tangible Assets
Computer Equipment
£
Cost
As at 1 January 2023 -
Additions 7,949
As at 31 December 2023 7,949
Depreciation
As at 1 January 2023 -
Provided during the period 2,649
As at 31 December 2023 2,649
Net Book Value
As at 31 December 2023 5,300
As at 1 January 2023 -
5. Debtors
31 December 2023 31 December 2022
£ £
Due within one year
Client Premium Deposit Account - 9,380
Other debtors - Rent deposit 250 -
Amounts owed by connected parties 79,832 34,674
Director's loan account 100 100
80,182 44,154
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6. Creditors: Amounts Falling Due Within One Year
31 December 2023 31 December 2022
£ £
Trade creditors 796 28
Corporation tax 9,882 2,251
Other taxes and social security 27,514 5,379
Other creditors 207 -
Amounts owed to connected parties 31,979 26,798
Pension payable 2,459 -
72,837 34,456
7. Share Capital
31 December 2023 31 December 2022
£ £
Allotted, Called up and fully paid 100 100
The nominal value per share is £1 and as at year end date there are 100 ordinary shares in issue.
8. Related Party Transactions
The Directors loan account balance of Mr K Richter, a director and shareholder of the company, totalled £100 as at the year-end, which is a current assets, interest free and repayable on demand.
The amount owed by S Wave International Crop, totalled £79,832 as at the year-end, which is a current asset, interest free and repayable on demand.
The amount owed to S Wave Au Party Ltd, totalled £31,979 as at the year-end, which is a current liability, interest free and repayable on demand.
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