Acorah Software Products - Accounts Production 16.5.460 false true 30 September 2023 1 October 2022 false 1 October 2023 30 September 2024 30 September 2024 10368138 Mr P Herbert iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 10368138 2023-09-30 10368138 2024-09-30 10368138 2023-10-01 2024-09-30 10368138 frs-core:CurrentFinancialInstruments 2024-09-30 10368138 frs-core:Non-currentFinancialInstruments 2024-09-30 10368138 frs-core:ComputerEquipment 2024-09-30 10368138 frs-core:ComputerEquipment 2023-10-01 2024-09-30 10368138 frs-core:ComputerEquipment 2023-09-30 10368138 frs-core:FurnitureFittings 2024-09-30 10368138 frs-core:FurnitureFittings 2023-10-01 2024-09-30 10368138 frs-core:FurnitureFittings 2023-09-30 10368138 frs-core:NetGoodwill 2024-09-30 10368138 frs-core:NetGoodwill 2023-10-01 2024-09-30 10368138 frs-core:NetGoodwill 2023-09-30 10368138 frs-core:MotorVehicles 2024-09-30 10368138 frs-core:MotorVehicles 2023-10-01 2024-09-30 10368138 frs-core:MotorVehicles 2023-09-30 10368138 frs-core:PlantMachinery 2024-09-30 10368138 frs-core:PlantMachinery 2023-10-01 2024-09-30 10368138 frs-core:PlantMachinery 2023-09-30 10368138 frs-core:ShareCapital 2024-09-30 10368138 frs-core:RetainedEarningsAccumulatedLosses 2024-09-30 10368138 frs-bus:PrivateLimitedCompanyLtd 2023-10-01 2024-09-30 10368138 frs-bus:FilletedAccounts 2023-10-01 2024-09-30 10368138 frs-bus:SmallEntities 2023-10-01 2024-09-30 10368138 frs-bus:AuditExempt-NoAccountantsReport 2023-10-01 2024-09-30 10368138 frs-bus:SmallCompaniesRegimeForAccounts 2023-10-01 2024-09-30 10368138 frs-bus:Director1 2023-10-01 2024-09-30 10368138 frs-countries:EnglandWales 2023-10-01 2024-09-30 10368138 2022-09-30 10368138 2023-09-30 10368138 2022-10-01 2023-09-30 10368138 frs-core:CurrentFinancialInstruments 2023-09-30 10368138 frs-core:Non-currentFinancialInstruments 2023-09-30 10368138 frs-core:ShareCapital 2023-09-30 10368138 frs-core:RetainedEarningsAccumulatedLosses 2023-09-30
Registered number: 10368138
Wave Environmental Solutions Ltd
Unaudited Financial Statements
For The Year Ended 30 September 2024
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 10368138
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 5 187,354 236,754
187,354 236,754
CURRENT ASSETS
Stocks 6 37,794 49,902
Debtors 7 567,163 648,414
Cash at bank and in hand 149,591 482,277
754,548 1,180,593
Creditors: Amounts Falling Due Within One Year 8 (759,968 ) (765,300 )
NET CURRENT ASSETS (LIABILITIES) (5,420 ) 415,293
TOTAL ASSETS LESS CURRENT LIABILITIES 181,934 652,047
Creditors: Amounts Falling Due After More Than One Year 9 (76,829 ) (127,005 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (35,597 ) (44,983 )
NET ASSETS 69,508 480,059
CAPITAL AND RESERVES
Called up share capital 10 100 100
Profit and Loss Account 69,408 479,959
SHAREHOLDERS' FUNDS 69,508 480,059
Page 1
Page 2
For the year ending 30 September 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
Mr P Herbert
Director
29/09/2025
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Wave Environmental Solutions Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 10368138 . The registered office is Ocean Park Pant Glas Ind Est, Bedwas, Caerphilly, CF83 8DR.
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. Intangible Fixed Assets and Amortisation - Goodwill
Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to profit and loss account over its estimated economic life of 5 years.
2.4. 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 15% straight line
Motor Vehicles 25% reducing balance
Fixtures & Fittings 25% reducing balance & 15% reducing balance
Computer Equipment 25% reducing balance
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.
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.
...CONTINUED
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2.6. Taxation - continued
Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are 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: 19 (2023: 17)
19 17
4. Intangible Assets
Goodwill
£
Cost
As at 1 October 2023 20,000
As at 30 September 2024 20,000
Amortisation
As at 1 October 2023 20,000
As at 30 September 2024 20,000
Net Book Value
As at 30 September 2024 -
As at 1 October 2023 -
5. Tangible Assets
Plant & Machinery Motor Vehicles Fixtures & Fittings Computer Equipment Total
£ £ £ £ £
Cost
As at 1 October 2023 451,446 79,407 6,049 14,158 551,060
Additions 6,645 5,750 - 1,294 13,689
As at 30 September 2024 458,091 85,157 6,049 15,452 564,749
Depreciation
As at 1 October 2023 280,843 28,074 1,825 3,564 314,306
Provided during the period 44,916 14,271 1,056 2,846 63,089
As at 30 September 2024 325,759 42,345 2,881 6,410 377,395
Net Book Value
As at 30 September 2024 132,332 42,812 3,168 9,042 187,354
As at 1 October 2023 170,603 51,333 4,224 10,594 236,754
6. Stocks
2024 2023
£ £
Stock 37,794 49,902
Page 4
Page 5
7. Debtors
2024 2023
£ £
Due within one year
Trade debtors 491,764 584,080
Amounts owed by group undertakings 42,395 41,254
Other debtors 33,004 23,080
567,163 648,414
8. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 576,433 368,068
Bank loans and overdrafts 52,659 52,660
Other creditors 113,195 236,941
Taxation and social security 17,681 107,631
759,968 765,300
9. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 76,829 127,005
10. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
Page 5