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Registered number: 06330741
Westwave Limited
Unaudited Financial Statements
For The Year Ended 31 August 2024
Hillmans Ltd
Chartered Accountants
2 Laurel House, 1 Station Road
Worle
Weston-Super-Mare
North Somerset
BS22 6AR
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 06330741
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 24,009 16,545
24,009 16,545
CURRENT ASSETS
Stocks 5 175,980 150,134
Debtors 6 - 196,787
Cash at bank and in hand 60,002 69,773
235,982 416,694
Creditors: Amounts Falling Due Within One Year 7 (222,448 ) (230,502 )
NET CURRENT ASSETS (LIABILITIES) 13,534 186,192
TOTAL ASSETS LESS CURRENT LIABILITIES 37,543 202,737
Creditors: Amounts Falling Due After More Than One Year 8 (36,090 ) (75,000 )
NET ASSETS 1,453 127,737
CAPITAL AND RESERVES
Called up share capital 10 200 200
Profit and Loss Account 1,253 127,537
SHAREHOLDERS' FUNDS 1,453 127,737
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For the year ending 31 August 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their 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 Profit and Loss Account.
On behalf of the board
P Brace
Director
29 May 2025
The notes on pages 3 to 5 form part of these financial statements.
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Page 3
Notes to the Financial Statements
1. General Information
Westwave Limited is a private company, limited by shares, incorporated in England & Wales, registered number 06330741 . The registered office is Unit 6 Mtc Business Park, Oldmixon Crescent, Weston-Super-Mare, Avon, BS24 9AY.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. 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:
Plant & Machinery 25% Wriiten down value
Motor Vehicles 15% Wriiten down value and 20% on cost
Fixtures & Fittings 15% WDA & 20% SLM
Computer Equipment 15% WDA & 33%SLM
2.4. Leasing and Hire Purchase Contracts
Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account as incurred.
2.5. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
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2.6. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period 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 assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 14 (2023: 15)
14 15
4. Tangible Assets
Plant & Machinery Motor Vehicles Fixtures & Fittings Computer Equipment Total
£ £ £ £ £
Cost
As at 1 September 2023 18,707 6,500 22,196 12,257 59,660
Additions - 12,472 - 604 13,076
As at 31 August 2024 18,707 18,972 22,196 12,861 72,736
Depreciation
As at 1 September 2023 17,481 3,616 16,957 5,061 43,115
Provided during the period 306 2,927 803 1,576 5,612
As at 31 August 2024 17,787 6,543 17,760 6,637 48,727
Net Book Value
As at 31 August 2024 920 12,429 4,436 6,224 24,009
As at 1 September 2023 1,226 2,884 5,239 7,196 16,545
5. Stocks
2024 2023
£ £
Stock 175,980 150,134
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6. Debtors
2024 2023
£ £
Due within one year
Other debtors - 196,787
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts - 217
Trade creditors 144,014 129,326
Other creditors 49,387 49,181
Taxation and social security 29,047 51,778
222,448 230,502
8. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 11,090 -
Bank loans 25,000 75,000
36,090 75,000
9. Obligations Under Finance Leases and Hire Purchase
2024 2023
£ £
The future minimum finance lease payments are as follows:
Not later than one year - 217
Later than one year and not later than five years 11,090 -
11,090 217
11,090 217
10. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 200 200
11. Related Party Transactions
Amounts Falling Due Within One Year is an amount of £23,597.34 owed to the director in respect of a loan provided to the company. The loan is interest-free and repayable on demand
12. Ultimate Controlling Party
The company's ultimate controlling parties are P Brace & R Harris by virtue of his ownership of 100% of the issued share capital in the company.
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