Company No: 08659188 (England and Wales)

Contents

• Balance Sheet
• Notes to the Financial Statements

	Note	2024		2023
		£		£
Fixed assets
Tangible assets	3	716		895
		716		895
Current assets
Debtors	4	26,731		41,312
Cash at bank and in hand		85,259		60,331
		111,990		101,643
Creditors: amounts falling due within one year	5	( 33,768)		( 31,608)
Net current assets		78,222		70,035
Total assets less current liabilities		78,938		70,930
Net assets		78,938		70,930
Capital and reserves
Called-up share capital	6	1		1
Profit and loss account		78,937		70,929
Total shareholder's funds		78,938		70,930

For the financial 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.

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 Statement of Income and Retained Earnings has not been delivered.

The financial statements of First Wave Adventures Limited (registered number: 08659188) were approved and authorised for issue by the Director on 30 September 2025. They were signed on its behalf by:

L D Gamble 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

First Wave Adventures 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 Porthpean Outdoor Education Centre Porthpean Road, Porthpean, St. Austell, PL26 6AZ, 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 £.

Turnover

Turnover comprises the fair value of the consideration received or receivable for the provision of services in the ordinary course of the company's activities. Turnover is shown net of VAT, refunds and discounts.

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.

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 reducing balance basis over its expected useful life, as follows:

Plant and machinery etc.

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.

2. Employees

	2024		2023
	Number		Number
Monthly average number of persons employed by the Company during the year, including the director	1		1

3. Tangible assets

	Plant and machinery etc.		Total
	£		£
Cost
At 01 January 2024	2,410		2,410
At 31 December 2024	2,410		2,410
Accumulated depreciation
At 01 January 2024	1,515		1,515
Charge for the financial year	179		179
At 31 December 2024	1,694		1,694
Net book value
At 31 December 2024	716		716
At 31 December 2023	895		895

4. Debtors

	2024		2023
	£		£
Trade debtors	4,450		19,566
Other debtors	22,281		21,746
	26,731		41,312

5. Creditors: amounts falling due within one year

	2024		2023
	£		£
Trade creditors	11,242		11,344
Taxation and social security	10,486		5,378
Other creditors	12,040		14,886
	33,768		31,608

6. Called-up share capital

	2024		2023
	£		£
Allotted, called-up and fully-paid
100 Ordinary shares of £ 0.01 each	1		1

7. Related party transactions

Other related party transactions

	2024		2023
	£		£
Great Western Beach (Newquay) Ltd	15,000		15,000
Cornwall Adventure Limited	509		0

The amounts are owed from Great Western Beach (Newquay) Ltd and Cornwall Adventure Ltd during the year to First Wave Adventure Ltd.