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REGISTERED NUMBER: 09357921 (England and Wales)














ABRIDGED UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

PRODIGY WAVES LTD

PRODIGY WAVES LTD (REGISTERED NUMBER: 09357921)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024










Page

Company Information 1

Abridged Statement of Financial Position 2

Notes to the Financial Statements 4


PRODIGY WAVES LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2024







DIRECTOR: Mr Evangelos Mytilineos





REGISTERED OFFICE: C/o Michael Filiou Ltd
Salisbury House
81 High Street
Potters Bar
Hertfordshire
EN6 5AS





REGISTERED NUMBER: 09357921 (England and Wales)





ACCOUNTANTS: Michael Filiou Ltd
Chartered Certified Accountants
www.michaelfiliou.com
Salisbury House
81 High Street
Potters Bar
Hertfordshire
EN6 5AS

PRODIGY WAVES LTD (REGISTERED NUMBER: 09357921)

ABRIDGED STATEMENT OF FINANCIAL POSITION
31 DECEMBER 2024

2024 2023
Notes €    €    €   
FIXED ASSETS
Tangible assets 4 2,067,401 2,120,002

CURRENT ASSETS
Debtors 5 16,197 4,766
Cash at bank 109,747 -
125,944 4,766
CREDITORS
Amounts falling due within one year 603,130 3,600
NET CURRENT (LIABILITIES)/ASSETS (477,186 ) 1,166
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,590,215

2,121,168

CAPITAL AND RESERVES
Called up share capital 6 5,735,468 5,735,468
Retained earnings (4,145,253 ) (3,614,300 )
SHAREHOLDERS' FUNDS 1,590,215 2,121,168

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

PRODIGY WAVES LTD (REGISTERED NUMBER: 09357921)

ABRIDGED STATEMENT OF FINANCIAL POSITION - continued
31 DECEMBER 2024


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

All the members have consented to the preparation of an abridged Statement of Financial Position for the year ended 31 December 2024 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 23 April 2025 and were signed by:





Mr Evangelos Mytilineos - Director


PRODIGY WAVES LTD (REGISTERED NUMBER: 09357921)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024


1. STATUTORY INFORMATION

Prodigy Waves Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements are presented in Euros (€) which is the functional currency of the company.

Foreign currencies
Assets and liabilities in foreign currencies are translated into Euros at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into Euros at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Marine vessel - over the period of 15 years

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 is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2023 - NIL).

PRODIGY WAVES LTD (REGISTERED NUMBER: 09357921)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2024


4. TANGIBLE FIXED ASSETS
Totals
€   
COST
At 1 January 2024 5,300,000
Additions 315,070
At 31 December 2024 5,615,070
DEPRECIATION
At 1 January 2024 3,179,998
Charge for year 367,671
At 31 December 2024 3,547,669
NET BOOK VALUE
At 31 December 2024 2,067,401
At 31 December 2023 2,120,002

Included in additions to fixed assets for the year ended 31 December 2024 is a downpayment of €100,000 for a new yacht currently under construction.

5. DEBTORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
€    €   
Amounts owed by group undertakings - 1,200

6. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: €    €   
5,735,468 Ordinary Euro 1 5,735,468 5,735,468

7. CAPITAL COMMITMENTS

As at 31 December 2024, the company had a capital commitment of €203,800 relating to the construction of a new yacht. This amount represents the outstanding balance due on completion and delivery of the vessel. The commitment was fulfilled in February 2025 when the final payment was made and the yacht was delivered to the company.

PRODIGY WAVES LTD (REGISTERED NUMBER: 09357921)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2024


8. RELATED PARTY DISCLOSURES

Amounts owed to director:
As at 31 December 2024, the company owed €84,344 to the director. This is an unsecured, interest free loan which is repayable on demand.

Loan from Melvet Investments Ltd:
As at 31 December 2024, the company owed €503,123 to Melvet Investments Ltd. This loan becomes fully repayable on 16 October 2025. The loan bears interest at a rate of 3% per annum until final repayment is made. The director, Mr E Mytilineos, is also the ultimate controlling party of Melvet Investments Ltd.

9. ULTIMATE CONTROLLING PARTY

Emergia Holdings Ltd (company number: HE 416392, registered office address: Agias Elenis 2, Stasinos Buidling, 7th Floor, Nicosia 1060, Cyprus) owns 100% of the issued share capital of the company.

The director, Mr E Mytilineos, is the ultimate controlling party of the company.