REGISTERED NUMBER: 07151490 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 March 2025

for

Vidiwave Limited

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

3

Chartered Accountants' Report

6

DIRECTOR:

D B Grattan

SECRETARY:

A A Grattan

REGISTERED OFFICE:

Unit 5 Beaufort Court

Roebuck Way

Knowl Hill

Milton Keynes

Buckinghamshire

MK5 8HL

REGISTERED NUMBER:

07151490 (England and Wales)

ACCOUNTANTS:

GREGORY WILDMAN

The Granary

Crowhill Farm

Ravensden Road

Wilden

Bedfordshire

MK44 2QS

FIXED ASSETS

Intangible assets

4

613,493

569,039

Tangible assets

5

42,257

44,094

655,750

613,133

CURRENT ASSETS

Stocks

6

21,179

19,729

Debtors

7

85,485

49,055

Cash at bank

63,016

64,017

169,680

132,801

CREDITORS

Amounts falling due within one year

8

516,612

634,288

NET CURRENT LIABILITIES

(346,932

)

(501,487

)

TOTAL ASSETS LESS CURRENT LIABILITIES

308,818

111,646

CREDITORS

Amounts falling due after more than one year

9

(10,000

)

(20,000

)

PROVISIONS FOR LIABILITIES

(228,183

)

(58,959

)

NET ASSETS

70,635

32,687

CAPITAL AND RESERVES

Called up share capital

10

100

100

Retained earnings

70,535

32,587

SHAREHOLDERS' FUNDS

70,635

32,687

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2025 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 16 December 2025 and were signed by:

D B Grattan - Director

1.	STATUTORY INFORMATION

Vidiwave Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

There were no material departures from that standard.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer, usually on dispatch of goods, the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measure reliably.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Development costs are being amortised evenly over their estimated useful life of ten years.

Computer software is being amortised evenly over its estimated useful life of three years.

Tangible fixed assets

Tangible fixed assets are included at cost less depreciation and impairment. Depreciation has been computed to write off the cost of tangible fixed assets over their expected useful lives as follows:

Improvements to property - 33% on cost

Plant & machinery - 25% reducing balance

Fixtures & fittings - 25% reducing balance

Motor vehicles - 25% reducing balance

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date.

Deferred tax

Deferred taxation is provided on the liability method to take account of timing differences between the treatment of certain items for accounts purposes and their treatment for tax purposes.

Tax deferred or accelerated is accounted for in respect of all material timing differences.

Development costs

Development costs are written off in the year in which they are incurred, unless the directors are satisfied as to the technical, commercial and financial viability of the individual projects. In this situation, the expenditure is deferred tax and amortised over ten years, the period during which the company is expected to benefit.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the statement of financial position date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2024 - 3 ) .

4.	INTANGIBLE FIXED ASSETS

Development

Computer

costs

software

Totals

£

£

£

COST

At 1 April 2024

1,811,892

5,788

1,817,680

Additions

204,537

-

204,537

At 31 March 2025

2,016,429

5,788

2,022,217

AMORTISATION

At 1 April 2024

1,242,853

5,788

1,248,641

Amortisation for year

160,083

-

160,083

At 31 March 2025

1,402,936

5,788

1,408,724

NET BOOK VALUE

At 31 March 2025

613,493

-

613,493

At 31 March 2024

569,039

-

569,039

5.	TANGIBLE FIXED ASSETS

Improvements

Fixtures

to

Plant and

and

property

machinery

fittings

Totals

£

£

£

£

COST

At 1 April 2024

39,457

57,485

80,219

177,161

Additions

-

1,572

-

1,572

At 31 March 2025

39,457

59,057

80,219

178,733

DEPRECIATION

At 1 April 2024

7,720

49,255

76,092

133,067

Charge for year

36

2,341

1,032

3,409

At 31 March 2025

7,756

51,596

77,124

136,476

NET BOOK VALUE

At 31 March 2025

31,701

7,461

3,095

42,257

At 31 March 2024

31,737

8,230

4,127

44,094

6.

STOCKS

31.3.25

31.3.24

£

£

Stocks

21,179

19,729

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.25

31.3.24

£

£

Trade debtors

54,681

28,301

Other debtors

10,300

9,500

VAT

-

4,358

Prepayments

20,504

6,896

85,485

49,055

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.25

31.3.24

£

£

Bank loans and overdrafts

10,000

10,000

Other loans

-

46,278

Trade creditors

132,995

119,802

Tax

-

185

Social security and other taxes

14,812

14,162

VAT

89,633

-

Other creditors

12,563

114,812

Directors' current accounts

249,919

323,075

Accrued expenses

6,690

5,974

516,612

634,288

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.3.25

31.3.24

£

£

Bank loans - 1-2 years

10,000

10,000

Bank loans - 2-5 years

-

10,000

10,000

20,000

10.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.3.25

31.3.24

value:

£

£

100

Ordinary

£1

100

100

11.	RELATED PARTY DISCLOSURES

The amount due to Mr D Grattan at the year end was £249,919 (2024 - £323,075).

The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Statement of Financial Position. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Director are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Vidiwave Limited for the year ended 31 March 2025 which comprise the Income Statement, Other Comprehensive Income, Statement of Financial Position, Statement of Changes in Equity and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the director of Vidiwave Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Vidiwave Limited and state those matters that we have agreed to state to the director of Vidiwave Limited in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Vidiwave Limited and its director for our work or for this report.

It is your duty to ensure that Vidiwave Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Vidiwave Limited. You consider that Vidiwave Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Vidiwave Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

GREGORY WILDMAN

The Granary

Crowhill Farm

Ravensden Road

Wilden

Bedfordshire

MK44 2QS

16 December 2025