Bluewave Select Ltd Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: 09615157

Bluewave Select Ltd

Filleted Unaudited Abridged Financial Statements

31 December 2024

Bluewave Select Ltd

Abridged Financial Statements

Year ended 31 December 2024

Contents	Page

Officers and professional advisers	1

Report to the board of directors on the preparation of the unaudited statutory abridged financial statements	2

Abridged statement of financial position	3

Notes to the abridged financial statements	5

Bluewave Select Ltd

Officers and Professional Advisers

The board of directors	Mr V Dunlop
	Mr J Hurren

Registered office	Kemp House
	152-160 City Road
	London
	EC1V 2NX

Accountants	ADK
	Chartered accountants
	Scottsdale House
	Springfield Avenue
	Harrogate
	England
	HG1 2HR

Bluewave Select Ltd

Report to the Board of Directors on the Preparation of the Unaudited Statutory Abridged Financial Statements of Bluewave Select Ltd

Year ended 31 December 2024

As described on the abridged statement of financial position, the directors of the company are responsible for the preparation of the abridged financial statements for the year ended 31 December 2024, which comprise the abridged statement of financial position and the related notes. You consider that the company is exempt from an audit under the Companies Act 2006. In accordance with your instructions we have compiled these abridged financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and from information and explanations supplied to us.

ADK Chartered accountants

Scottsdale House Springfield Avenue Harrogate England HG1 2HR

23 July 2025

Bluewave Select Ltd

Abridged Statement of Financial Position

31 December 2024

	2024		2023
Note	£	£	£

Fixed assets

Intangible assets	5	1,800	2,400
Tangible assets	6	72,537	81,768
		--------	--------
		74,337	84,168

Current assets

Debtors		4,455,406	3,354,344
Investments	7	21,691	–
Cash at bank and in hand		1,133,287	1,452,837
		------------	------------
		5,610,384	4,807,181

Creditors: amounts falling due within one year	2,521,508		2,297,979
	------------		------------
Net current assets		3,088,876	2,509,202
		------------	------------
Total assets less current liabilities		3,163,213	2,593,370

Creditors: amounts falling due after more than one year		47,018	56,101

Provisions

Taxation including deferred tax	1,132	2,354
	------------	------------
Net assets	3,115,063	2,534,915
	------------	------------

Capital and reserves

Called up share capital	100	100
Profit and loss account	3,114,963	2,534,815
	------------	------------
Shareholders funds	3,115,063	2,534,915
	------------	------------

These abridged financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the abridged income statement has not been delivered.

For the year ending 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

- The members have not required the company to obtain an audit of its abridged financial statements for the year in question in accordance with section 476 ;

- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of abridged financial statements .

Bluewave Select Ltd

Abridged Statement of Financial Position (continued)

31 December 2024

All of the members have consented to the preparation of the abridged income statement and the abridged statement of financial position for the year ending 31 December 2024 in accordance with Section 444(2A) of the Companies Act 2006.

These abridged financial statements were approved by the board of directors and authorised for issue on 23 July 2025 , and are signed on behalf of the board by:

Mr V Dunlop Mr J Hurren

Director Director

Company registration number: 09615157

Bluewave Select Ltd

Notes to the Abridged Financial Statements

Year ended 31 December 2024

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Kemp House, 152-160 City Road, London, EC1V 2NX.

2. Statement of compliance

These abridged financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The abridged financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The abridged financial statements are prepared in sterling, which is the functional currency of the entity.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Income tax

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.

Foreign currencies

Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.

Intangible assets

Intangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated amortisation and impairment losses. Any intangible assets carried at revalued amounts, are recorded at the fair value at the date of revaluation, as determined by reference to an active market, less any subsequent accumulated amortisation and subsequent accumulated impairment losses. Intangible assets acquired as part of a business combination are only recognised separately from goodwill when they arise from contractual or other legal rights, are separable, the expected future economic benefits are probable and the cost or value can be measured reliably.

Amortisation

Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:

	Software	-	20% straight line

If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Office Fixtures & Fittings	-	20% straight line
Motor Vehicles	-	20% reducing balance
Office Equipment	-	25% straight line

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.

Finance leases and hire purchase contracts

Assets held under finance leases and hire purchase contracts are recognised in the abridged statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.

Provisions

Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the abridged statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 22 (2023: 25 ).

5. Intangible assets

	£
Cost
At 1 January 2024 and 31 December 2024	3,000
	-------
Amortisation
At 1 January 2024	600
Charge for the year	600
	-------
At 31 December 2024	1,200
	-------
Carrying amount
At 31 December 2024	1,800
	-------
At 31 December 2023	2,400
	-------

6. Tangible assets

	£
Cost
At 1 January 2024	146,284
Additions	17,042
	---------
At 31 December 2024	163,326
	---------
Depreciation
At 1 January 2024	64,516
Charge for the year	26,273
	---------
At 31 December 2024	90,789
	---------
Carrying amount
At 31 December 2024	72,537
	---------
At 31 December 2023	81,768
	---------

7. Investments

	2024	2023
	£	£
Investments in group undertakings	21,691	–
	--------	----

8. Deferred tax

The deferred tax included in the abridged statement of financial position is as follows:

	2024	2023
	£	£
Included in debtors (note )	303,438	170,494
Included in provisions	( 1,132)	( 2,354)
	---------	---------
	302,306	168,140
	---------	---------

9. Directors' advances, credits and guarantees

During the year the directors entered into the following advances and credits with the company:

	2024
	Balance brought forward	Advances/ (credits) to the directors	Amounts repaid	Balance outstanding
	£	£	£	£
Mr V Dunlop	( 248,901)	( 304,150)	107,800	( 445,251)
Mr J Hurren	( 256,264)	( 305,361)	107,800	( 453,825)
	---------	---------	---------	---------
	( 505,165)	( 609,511)	215,600	( 899,076)
	---------	---------	---------	---------

	2023
	Balance brought forward	Advances/ (credits) to the directors	Amounts repaid	Balance outstanding
	£	£	£	£
Mr V Dunlop	( 201,810)	( 176,591)	129,500	( 248,901)
Mr J Hurren	( 207,231)	( 178,533)	129,500	( 256,264)
	---------	---------	---------	---------
	( 409,041)	( 355,124)	259,000	( 505,165)
	---------	---------	---------	---------

10. Related party transactions

The company was under the joint control of Mr J Hurren and Mr V Dunlop throughout the current year. As at the year end the balances owed to the company by the directors was: Mr J Hurren £445,251 Mr V Dunlop £453,825