Caseware UK (AP4) 2023.0.135 2023.0.135 2024-08-312024-08-312025-05-09false2023-09-01falseSale of bathroom furniture44falsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 05739190 2023-09-01 2024-08-31 05739190 2022-09-01 2023-08-31 05739190 2024-08-31 05739190 2023-08-31 05739190 c:Director1 2023-09-01 2024-08-31 05739190 d:MotorVehicles 2023-09-01 2024-08-31 05739190 d:MotorVehicles 2024-08-31 05739190 d:MotorVehicles 2023-08-31 05739190 d:MotorVehicles d:OwnedOrFreeholdAssets 2023-09-01 2024-08-31 05739190 d:FurnitureFittings 2023-09-01 2024-08-31 05739190 d:FurnitureFittings 2024-08-31 05739190 d:FurnitureFittings 2023-08-31 05739190 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-09-01 2024-08-31 05739190 d:OwnedOrFreeholdAssets 2023-09-01 2024-08-31 05739190 d:CurrentFinancialInstruments 2024-08-31 05739190 d:CurrentFinancialInstruments 2023-08-31 05739190 d:Non-currentFinancialInstruments 2024-08-31 05739190 d:Non-currentFinancialInstruments 2023-08-31 05739190 d:CurrentFinancialInstruments d:WithinOneYear 2024-08-31 05739190 d:CurrentFinancialInstruments d:WithinOneYear 2023-08-31 05739190 d:Non-currentFinancialInstruments d:AfterOneYear 2024-08-31 05739190 d:Non-currentFinancialInstruments d:AfterOneYear 2023-08-31 05739190 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2024-08-31 05739190 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2023-08-31 05739190 d:ShareCapital 2024-08-31 05739190 d:ShareCapital 2023-08-31 05739190 d:RetainedEarningsAccumulatedLosses 2024-08-31 05739190 d:RetainedEarningsAccumulatedLosses 2023-08-31 05739190 c:FRS102 2023-09-01 2024-08-31 05739190 c:AuditExempt-NoAccountantsReport 2023-09-01 2024-08-31 05739190 c:FullAccounts 2023-09-01 2024-08-31 05739190 c:PrivateLimitedCompanyLtd 2023-09-01 2024-08-31 05739190 2 2023-09-01 2024-08-31 05739190 e:PoundSterling 2023-09-01 2024-08-31 iso4217:GBP xbrli:pure

Registered number: 05739190









WAVE BATHROOMS LTD







UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2024

 
WAVE BATHROOMS LTD
REGISTERED NUMBER: 05739190

BALANCE SHEET
AS AT 31 AUGUST 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
1,766
2,357

  
1,766
2,357

Current assets
  

Stocks
 5 
28,100
26,200

Debtors: amounts falling due within one year
 6 
11,716
12,734

Cash at bank and in hand
 7 
16,585
50,103

  
56,401
89,037

Creditors: amounts falling due within one year
 8 
(43,384)
(70,033)

Net current assets
  
 
 
13,017
 
 
19,004

Total assets less current liabilities
  
14,783
21,361

Creditors: amounts falling due after more than one year
 9 
(7,627)
(17,933)

  

Net assets
  
7,156
3,428


Capital and reserves
  

Called up share capital 
  
1,002
1,002

Profit and loss account
  
6,154
2,426

  
7,156
3,428


Page 1

 
WAVE BATHROOMS LTD
REGISTERED NUMBER: 05739190
    
BALANCE SHEET (CONTINUED)
AS AT 31 AUGUST 2024

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

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 financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 9 May 2025.




................................................
Gary Nutting
Director

The notes on pages 3 to 8 form part of these financial statements.

Page 2

 
WAVE BATHROOMS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

1.


General information

Wave Bathrooms Ltd is a private company limited by shares, incorporated in England and Wales. The principal activity throughout the year was that of bathroom furniture and equipment retail.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. 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 following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

 
2.3

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.4

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.5

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

Page 3

 
WAVE BATHROOMS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

2.Accounting policies (continued)

 
2.6

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
2.7

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

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


 
2.8

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis .

Depreciation is provided on the following basis:

Motor vehicles
-
25% reducing balance
Fixtures, fittings and equipment
-
25% reducing balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

Page 4

 
WAVE BATHROOMS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

2.Accounting policies (continued)

 
2.9

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.10

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.11

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.12

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.13

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Employees

The average monthly number of employees, including directors, during the year was 4 (2023 - 4).

Page 5

 
WAVE BATHROOMS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

4.


Tangible fixed assets





Motor vehicles
Fixtures, fittings and equipment
Total

£
£
£



Cost or valuation


At 1 September 2023
17,861
57,662
75,523



At 31 August 2024

17,861
57,662
75,523



Depreciation


At 1 September 2023
16,007
57,159
73,166


Charge for the year on owned assets
464
127
591



At 31 August 2024

16,471
57,286
73,757



Net book value



At 31 August 2024
1,390
376
1,766



At 31 August 2023
1,854
503
2,357


5.


Stocks

2024
2023
£
£

Finished goods and goods for resale
28,100
26,200

28,100
26,200



6.


Debtors

2024
2023
£
£


Trade debtors
10,444
11,455

Prepayments and accrued income
1,272
1,279

11,716
12,734


Page 6

 
WAVE BATHROOMS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

7.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
16,585
50,103

16,585
50,103



8.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank loans
10,440
10,200

Trade creditors
18,738
38,053

Corporation tax
1,169
1,246

Other taxation and social security
8,888
11,492

Other creditors
2,240
7,123

Accruals and deferred income
1,909
1,919

43,384
70,033



9.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Bank loans
7,627
17,933

7,627
17,933


Page 7

 
WAVE BATHROOMS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

10.


Loans


Analysis of the maturity of loans is given below:


2024
2023
£
£

Amounts falling due within one year

Bank loans
10,440
10,200


Amounts falling due 2-5 years

Bank loans
7,627
17,933


18,067
28,133



11.


Pension commitments

The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £1,584 (2023 - £1,611). Contributions totalling £1,211 (2023 - £1,611) were payable to the fund at the balance sheet date.


12.


Controlling party

The Company is controlled by Gary Nutting, by virtue of his shareholding as described in the directors' report.

 
Page 8