Company No: 07992431 (England and Wales)

Contents

• Balance Sheet
• Notes to the Financial Statements

	Note	2025		2024
		£		£
Fixed assets
Tangible assets	4	790		2,828
		790		2,828
Current assets
Debtors	5	7,887		176
Cash at bank and in hand		265,971		105,171
		273,858		105,347
Creditors: amounts falling due within one year	6	( 195,571)		( 66,932)
Net current assets		78,287		38,415
Total assets less current liabilities		79,077		41,243
Creditors: amounts falling due after more than one year	7	0		( 9,754)
Net assets		79,077		31,489
Capital and reserves
Called-up share capital	8	100		100
Profit and loss account		78,977		31,389
Total shareholder's funds		79,077		31,489

For the financial year ending 30 June 2025 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

• The member has not required the Company to obtain an audit of its financial statements for the financial year in accordance with section 476;
• The director acknowledges their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements; and
• These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Profit and Loss Account has not been delivered.

The financial statements of The Perfect Wave UK Travel Company Limited (registered number: 07992431) were approved and authorised for issue by the Director on 25 September 2025. They were signed on its behalf by:

Mr J N Gray Director

1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

The Perfect Wave UK Travel Company Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is C/O Francis Clark Llp Melville Building East, Royal William Yard, Plymouth, PL1 3GW, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Foreign currency

Transactions in foreign currencies are recorded at the rate of exchange at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the Balance Sheet date are reported at the rates of exchange prevailing at that date.

Turnover

Turnover is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer. Turnover from the sale of goods is recognised when the goods are physically delivered to the customer.

Employee benefits

Defined contribution schemes
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Website costs

20 % reducing balance

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a [straight-line, reducing balance] basis over its expected useful life, as follows:

Fixtures and fittings

20 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets receivable within one year, such as trade debtors and bank balances, are measured at transaction price less any impairment.

Basic financial assets receivable within more than one year are measured at amortised cost less any impairment.

Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Basic financial liabilities
Basic financial liabilities that have no stated interest rate and are payable within one year, such as trade creditors, are measured at transaction price.

Other basic financial liabilities are measured at amortised cost.

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

2. Employees

	2025		2024
	Number		Number
Monthly average number of persons employed by the Company during the year, including the director	1		1

3. Intangible assets

	Website costs		Total
	£		£
Cost
At 01 July 2024	20,311		20,311
At 30 June 2025	20,311		20,311
Accumulated amortisation
At 01 July 2024	20,311		20,311
At 30 June 2025	20,311		20,311
Net book value
At 30 June 2025	0		0
At 30 June 2024	0		0

4. Tangible assets

	Fixtures and fittings		Total
	£		£
Cost
At 01 July 2024	16,415		16,415
Disposals	( 14,627)		( 14,627)
At 30 June 2025	1,788		1,788
Accumulated depreciation
At 01 July 2024	13,587		13,587
Charge for the financial year	197		197
Disposals	( 12,786)		( 12,786)
At 30 June 2025	998		998
Net book value
At 30 June 2025	790		790
At 30 June 2024	2,828		2,828

5. Debtors

	2025		2024
	£		£
Other debtors	7,887		176

6. Creditors: amounts falling due within one year

	2025		2024
	£		£
Bank loans	9,646		10,159
Amounts owed to Group undertakings	2,635		4,223
Accruals	4,000		6,543
Taxation and social security	12,790		5,256
Other creditors	166,500		40,751
	195,571		66,932

7. Creditors: amounts falling due after more than one year

	2025		2024
	£		£
Bank loans	0		9,754

There are no amounts included above in respect of which any security has been given by the small entity.

8. Called-up share capital

	2025		2024
	£		£
Allotted, called-up and fully-paid
100 Ordinary shares of £ 1.00 each	100		100