Caseware UK (AP4) 2024.0.164 2024.0.164 true2true2023-03-01falseNo description of principal activity2The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false NI674713 2023-03-01 2024-02-29 NI674713 2022-03-01 2023-02-28 NI674713 2024-02-29 NI674713 2023-02-28 NI674713 c:Director2 2023-03-01 2024-02-29 NI674713 d:CurrentFinancialInstruments 2024-02-29 NI674713 d:CurrentFinancialInstruments 2023-02-28 NI674713 d:Non-currentFinancialInstruments 2024-02-29 NI674713 d:Non-currentFinancialInstruments 2023-02-28 NI674713 d:CurrentFinancialInstruments d:WithinOneYear 2024-02-29 NI674713 d:CurrentFinancialInstruments d:WithinOneYear 2023-02-28 NI674713 d:ShareCapital 2024-02-29 NI674713 d:ShareCapital 2023-02-28 NI674713 d:CapitalRedemptionReserve 2023-03-01 2024-02-29 NI674713 d:CapitalRedemptionReserve 2024-02-29 NI674713 d:CapitalRedemptionReserve 2023-02-28 NI674713 d:RetainedEarningsAccumulatedLosses 2024-02-29 NI674713 d:RetainedEarningsAccumulatedLosses 2023-02-28 NI674713 c:OrdinaryShareClass1 2023-03-01 2024-02-29 NI674713 c:OrdinaryShareClass1 2024-02-29 NI674713 c:OrdinaryShareClass1 2023-02-28 NI674713 c:OrdinaryShareClass2 2023-03-01 2024-02-29 NI674713 c:OrdinaryShareClass2 2024-02-29 NI674713 c:FRS102 2023-03-01 2024-02-29 NI674713 c:AuditExempt-NoAccountantsReport 2023-03-01 2024-02-29 NI674713 c:FullAccounts 2023-03-01 2024-02-29 NI674713 c:PrivateLimitedCompanyLtd 2023-03-01 2024-02-29 NI674713 4 2023-03-01 2024-02-29 NI674713 e:PoundSterling 2023-03-01 2024-02-29 iso4217:GBP xbrli:shares xbrli:pure

Registered number: NI674713










Wavteq Group Limited








Unaudited

Financial statements

Information for filing with the registrar

For the Year Ended 29 February 2024

 
Wavteq Group Limited
Registered number: NI674713

Statement of Financial Position
As at 29 February 2024

29 February
28 February
2024
2023
Note
£
£

  

Current assets
  

Debtors: amounts falling due after more than one year
 4 
815,450
-

Cash at bank and in hand
 5 
62,631
1

  
878,081
1

Creditors: amounts falling due within one year
 6 
(1,057,576)
-

Net current (liabilities)/assets
  
 
 
(179,495)
 
 
1

Total assets less current liabilities
  
(179,495)
1

  

Net (liabilities)/assets
  
(179,495)
1


Capital and reserves
  

Called up share capital 
 7 
5,537
1

Capital redemption reserve
 8 
2,078
-

Profit and loss account
 8 
(187,110)
-

  
(179,495)
1


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 5 June 2025.




Henry Loewendahl
Director

The notes on pages 2 to 4 form part of these financial statements.
Page 1

 
Wavteq Group Limited
 

 
Notes to the Financial Statements
For the Year Ended 29 February 2024

1.


General information

Wavteq Group Limited is a private company limited by shares incorporated in Northern Ireland. The registration number and address of the registered office are given in the company information section of these financial statements.

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

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 reporting date in the countries where the Company operates and generates income.


 
2.3

Exceptional items

Exceptional items are transactions that fall within the ordinary activities of the Company but are presented separately due to their size or incidence.

 
2.4

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.

 
2.5

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.


3.


Employees

The average monthly number of employees, including directors, during the year was 2 (2023 - 2).

Page 2

 
Wavteq Group Limited
 

 
Schedule to the Detailed Accounts
For the Year Ended 29 February 2024

4.


Debtors

29 February
28 February
2024
2023
£
£

Due after more than one year

Amounts owed by group undertakings
815,450
-

815,450
-



5.


Cash and cash equivalents

29 February
28 February
2024
2023
£
£

Cash at bank and in hand
62,631
1

62,631
1



6.


Creditors: Amounts falling due within one year

29 February
28 February
2024
2023
£
£

Amounts owed to group undertakings
870,466
-

Corporation tax
187,110
-

1,057,576
-


 Page 3

 
Wavteq Group Limited
 

 
Notes to the Financial Statements
For the Year Ended 29 February 2024

7.


Share capital

29 February
28 February
2024
2023
£
£
Allotted, called up and fully paid



10 (2023 - 10) Ordinary shares of £0.10 each
1
1
55,365 (2023 - 0) A Ordinary shares of £0.10 each
5,536
-

5,537

1


During the year the company issued 76,139 shares at a nominal value of £0.10 (£7,613).  Further to this the company initiated a share buyback, repurchasing 20,775 shares at an aggregate cost of £2,077.  This is disclossed in the Statement of Changes in Equity.  The buyback was funded from the sale of certain trade and assets within the group and repurchased through an open market transaction.  
The buyback was approved by the board of directors and the company does plan to complete another share buy back in 2026.


8.


Reserves

Capital redemption reserve

During the year, the company redeemed 20,775 shares with a nominal value of £0.10 each. In accordance with statutory requirements, an equivalent amount of £2,078 was transferred from retained earnings to the Capital Redemption Reserve as shown in the Statement of Changes in Equity.


9.


Related party transactions

Wavteq Group Limited is claiming an exemption under FRS 102, paragraph 33.1A. As a result, any transactions between two or more members of the group are exempt from disclosure.


10.


Material sale of trade and assets

During the year, the company entered into an agreement to sell certain trade and assets to a third party. The initial stage of this transaction was completed in the year ended 29 February 2024, with the final stage scheduled for completion in May 2026.


11.


Controlling party

The company is controlled by the director, who owns by management deed 100% of the company's shares. 

Page 4