Boardwave Ltd Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: 14105403

Boardwave Ltd

Filleted Unaudited Financial Statements

30 June 2025

Boardwave Ltd

Financial Statements

Year ended 30 June 2025

Contents	Page

Statement of financial position	1

Notes to the financial statements	3

Boardwave Ltd

Statement of Financial Position

30 June 2025

	2025	2024
Note	£	£

Fixed assets

Intangible assets	5	69,730	3,812
Tangible assets	6	13,164	15,271
		--------	--------
		82,894	19,083

Current assets

Debtors	7	348,940	531,124
Cash at bank and in hand		348,356	553,066
		---------	------------
		697,296	1,084,190

Creditors: amounts falling due within one year	8	1,211,967	1,430,554
		------------	------------
Net current liabilities		514,671	346,364
		---------	---------
Total assets less current liabilities		( 431,777)	( 327,281)
		---------	---------
Net liabilities		( 431,777)	( 327,281)
		---------	---------

Capital and reserves

Called up share capital	1	1
Profit and loss account	( 431,778)	( 327,282)
	---------	---------
Shareholders deficit	( 431,777)	( 327,281)
	---------	---------

These 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 statement of income and retained earnings has not been delivered.

For the 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.

Directors' responsibilities:

- The members have not required the company to obtain an audit of its 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 financial statements .

Boardwave Ltd

Statement of Financial Position (continued)

30 June 2025

These financial statements were approved by the board of directors and authorised for issue on 3 November 2025 , and are signed on behalf of the board by:

Mr P D Robinson

Director

Company registration number: 14105403

Boardwave Ltd

Notes to the Financial Statements

Year ended 30 June 2025

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 27 New Dover Road, Canterbury, CT1 3DN, England.

2. Statement of compliance

These 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 financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity.

Going concern

The financial statements have been prepared on a going concern basis. The company made a loss in the year and at the balance sheet date had net liabilities of £431,777 (2024: £327,281). The directors have prepared detailed forecasts of income, expenditure and cash flows for a period of at least twelve months from the date of approval of these financial statements. These forecasts take into account the company's current subscription base, expected renewal rates, cost management, and cash balances held at year end. The forecasts demonstrate that the company is expected to have sufficient resources to meet its liabilities as they fall due. On this basis, the directors consider it appropriate to prepare the financial statements on a going concern basis.

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for services rendered, stated net of discounts and of Value Added Tax. Revenue is recognised over the period to which it relates, as this is a subscription based business model a significant deferred revenue balance is recognised at the end of each reporting period.

Income tax

The taxation expense represents the aggregate amount of current 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.

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.

Operating leases

Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.

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.

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:

Website	-	20% straight line
Platform development	-	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.

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:

Fixtures and fittings	-	20% straight line
Equipment	-	33% 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.

Financial instruments

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses. Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment. If an arrangement constitutes a finance transaction, it is measured at present value.

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 11 (2024: 7 ).

5. Intangible assets

	Website	Platform development	Total
	£	£	£
Cost
At 1 July 2024	4,121	–	4,121
Additions	–	71,840	71,840
	-------	--------	--------
At 30 June 2025	4,121	71,840	75,961
	-------	--------	--------
Amortisation
At 1 July 2024	309	–	309
Charge for the year	1,133	4,789	5,922
	-------	--------	--------
At 30 June 2025	1,442	4,789	6,231
	-------	--------	--------
Carrying amount
At 30 June 2025	2,679	67,051	69,730
	-------	--------	--------
At 30 June 2024	3,812	–	3,812
	-------	--------	--------

6. Tangible assets

	Fixtures and fittings	Equipment	Total
	£	£	£
Cost
At 1 July 2024	3,935	15,839	19,774
Additions	–	5,129	5,129
Disposals	–	( 1,008)	( 1,008)
	-------	--------	--------
At 30 June 2025	3,935	19,960	23,895
	-------	--------	--------
Depreciation
At 1 July 2024	180	4,323	4,503
Charge for the year	787	6,141	6,928
Disposals	–	( 700)	( 700)
	-------	--------	--------
At 30 June 2025	967	9,764	10,731
	-------	--------	--------
Carrying amount
At 30 June 2025	2,968	10,196	13,164
	-------	--------	--------
At 30 June 2024	3,755	11,516	15,271
	-------	--------	--------

7. Debtors

	2025	2024
	£	£
Trade debtors	228,075	430,407
Other debtors	120,865	100,717
	---------	---------
	348,940	531,124
	---------	---------

A deferred tax asset of £34,630 (2024: £21,897) relating to unrelieved tax losses has not been recognised in the financial statements.

8. Creditors: amounts falling due within one year

	2025	2024
	£	£
Trade creditors	19,531	146,319
Social security and other taxes	131,409	144,420
Deferred income	1,002,394	1,071,807
Other creditors	58,633	68,008
	------------	------------
	1,211,967	1,430,554
	------------	------------

9. Operating leases

The total future minimum lease payments under non-cancellable operating leases are as follows:

	2025	2024
	£	£
Not later than 1 year	30,960	46,440
	--------	--------

A director has provided a guarantee to the landlord as part of the lease agreement.

10. Directors' advances, credits and guarantees

There were no advances to directors or repayments from directors in the period. In 2024, a director repaid an amount of £1,079 which equated to the amount the director owed the company at the end of the previous period.