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Registered number: SC610006

Earthwave ltd

FILLETED UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31/10/2024

Prepared By:
Gibsons Accountants Ltd
Chartered Accountants
226 Oldham Road
Rochdale
Lancashire
OL112ER

Earthwave ltd

ACCOUNTS
FOR THE YEAR ENDED 31/10/2024
DIRECTORS
Ms Livia Lea Jakob
Dr Noel Gourmelen
Mr Martin Andrew Ewart (resigned 19/01/2025)
Mr Alex James Horton (resigned 14/09/2024)
SECRETARY
Miss Kirsty Louise Wilson (appointed 23/10/2024)
REGISTERED OFFICE
Codebase, Office L2
3 Lady Lawson street
Edinburgh
Scotland
EH3 9DR
COMPANY DETAILS
Private company limited by shares registered in SC - Scotland, registered number SC610006
ACCOUNTANTS
Gibsons Accountants Ltd
Chartered Accountants
226 Oldham Road
Rochdale
Lancashire
OL112ER

Earthwave ltd

ACCOUNTS
FOR THEYEARENDED31/10/2024
CONTENTS
Page
Directors' Report-
Accountants' Report-
Statement Of Comprehensive Income-
Balance Sheet3
Notes To The Accounts4
The following do not form part of the statutory financial statements:
Trading And Profit And Loss Account-
Profit And Loss Account Summaries-

Earthwave ltd

BALANCE SHEET AT 31/10/2024
20242023
Notes££
FIXED ASSETS
Tangible assets32,0936,284
Investment Assets4100-
2,1936,284
CURRENT ASSETS
Debtors5123,584173,810
Cash at bank and in hand79,581159,702
203,165333,512
CREDITORS: Amounts falling due within one year644,83541,768
NET CURRENT ASSETS158,330291,744
TOTAL ASSETS LESS CURRENT LIABILITIES160,523298,028
CAPITAL AND RESERVES
Called up share capital76071,267
Capital redemption reserve8660-
Profit and loss account159,256296,761
SHAREHOLDERS' FUNDS160,523298,028
For the year ending 31/10/2024 the company was entitled to exemption 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 directors have decided not to deliver to the registrar a copy of the company's profit and loss account.
Approved by the board on 30/05/2025 and signed on their behalf by
.............................
Ms Livia Lea Jakob
Director

Earthwave ltd

NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED 31/10/2024
1. ACCOUNTING POLICIES
1a. Basis Of Accounting
The accounts have been prepared under the historical cost convention.
The accounts have been prepared in accordance with FRS102 section 1A - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006 .
1b. Depreciation
Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives.
Equipmentstraight line 33.333%
1c. Taxation
Taxation represents the sum of tax currently payable and deferred tax. 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 all 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. 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.
1d. Pension Costs
The company operates a defined contribution pension scheme. The pension charge represents the amounts payable by the company to the fund in respect of the year.
1e. Foreign Currency
Transactions in currencies, other than the functional currency of the company, are recorded at the rate of the exchange on the date the transaction occurred. Monetary items denominated in other currencies are translated at the rate prevailing at the end of the reporting period. All differences are taken to the profit and loss account. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is remeasured.
Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

Earthwave ltd

1f. Investments
Fixed asset investments - investments in shares are included at fair value.
1g. Revenue Recognition
Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company's activities. Turnover is shown net of value added tax, returns rebates and discounts.
The company recognised revenue when the amount of revenue can be reliably measured; it is probable that future economic benefit will flow to the entity and specific criteria have been met for each of the company's activities.
2. EMPLOYEES
20242023
No.No.
Average number of employees1111
3. TANGIBLE FIXED ASSETS
EquipmentTotal
££
Cost
At 01/11/202319,76819,768
Additions1,1421,142
Disposals(1,996)(1,996)
At 31/10/202418,91418,914
Depreciation
At 01/11/202313,48413,484
Disposals(1,428)(1,428)
For the year4,7654,765
At 31/10/202416,82116,821
Net Book Amounts
At 31/10/20242,0932,093
At 31/10/20236,2846,284

Earthwave ltd

4. FINANCIAL ASSETS
Other
InvestmentsTotal
££
Cost
Additions100100
At 31/10/2024100100
Amortisation
Net Book Amounts
At 31/10/2024100100
Investments consist of shares purchased in virtuagraphics Ltd at cost, which the directors believe to be a fair value.
5. DEBTORS 20242023
££
Amounts falling due within one year
UK corporation tax53,36421,491
Other debtors - amounts recoverable on contracts65,615147,415
Prepayments4,6054,904
123,584173,810
6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
20242023
££
VAT13,65920,855
Trade creditors-4,733
Other creditors - payments on account 29,87614,880
Accruals1,3001,300
44,83541,768
7. SHARE CAPITAL 20242023
££
Allotted, issued and fully paid:
607 Ordinary shares of £1 each6071267
6071,267

Earthwave ltd

8. OTHER RESERVES 20242023
££
Capital redemption reserve660-
660-
9. CAPITAL REDUCTION
During the year, the company repurchased 660 ordinary shares with a nominal value of £1 per share at an average price of £170.91 per share, for a total consideration of £112,800. The buyback was carried out in accordance with Section 690 to 708 of the Companies Act 2006 and was financed from the company's distributable profits.
The nominal value of the repurchased shares, amounting to £660, has been deducted from the called-up share capital. In accordance with Section 733 of the Companies Act 2006, an equivalent amount has been transferred to the Capital Redemption Reserve from retained earnings, as the shares were repurchased out of distributable profits.The premium paid on the buyback, totalling £112,140, has been charged to the profit and loss account reserve.
As a result of the buyback, the company's issued share capital was reduced from £1,267 to £607 as at the reporting date.