| HOLDWAVE MANAGEMENT LIMITED |
| Registered number: |
05159244 |
| Directors' report |
| The director presents his report and the financial statements for the year ended |
31/12/2024 |
|
| Principal activities |
| The company's principal activity during the year under review was that of an investment holding company. |
|
| Directors |
| The following persons served as directors during the year: |
|
|
Frances Ann Gordon |
|
|
| Statement of Director's responsibilities |
| Director's responsibilities for preparing the financial statements in accordance with applicable law and regulations. |
|
Company law requires the directors to prepare financial statements for each financial year. Under the law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standarts and applicable law). The financial statements are required by law to give a true and fair view of the state of the affairs of the company and of the profit or loss of the company for that year.
In preparing these financial statements the directors are required to: |
| ● |
select suitable accounting policies and apply them consistently; |
| ● |
make judgments and estimates that are reasonable and prudent; |
| ● |
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business. |
|
| The directors are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the company and to enable him to ensure that the financial statements comply with the Companies Act 2006. He is also responsible for safeguarding the assets of the company and hence for taking reasonble steps for the prevention and detection of fraud other irregularities. |
|
| Small company provisions |
| This report has been prepared in accordance with the provisions in Part 15 of the Companies Act 2006 applicable to companies subject to the small companies regime. |
|
|
| This report was approved by the board on: |
24/12/2025 |
|
| and signed on its behalf by: |
|
| Frances Ann Gordon |
| Director |
|
| HOLDWAVE MANAGEMENT LIMITED |
| Registered number |
05159244 |
| Statement of financial position |
| as at |
| 31/12/2024 |
|
| Notes |
|
2024 |
2024 |
|
2023 |
2023 |
| $ |
$ |
$ |
$ |
| Fixed assets |
| Investments |
2 |
|
|
4,307,063 |
|
|
4,307,063 |
|
|
|
|
4,307,063 |
|
|
4,307,063 |
|
| Current assets |
| Loans and advances |
| Investments held as current assets |
|
|
806,826 |
|
|
1,579,969 |
| Cash at bank and in hand |
|
|
4,696,534 |
|
|
4,182,508 |
|
|
|
5,503,360 |
|
|
5,762,477 |
|
| Creditors: amounts falling due within one year |
|
|
|
(1,629,789) |
|
|
(1,636,768) |
|
| Net current assets (liabilities) |
|
|
|
3,873,571 |
|
|
4,125,709 |
|
| Total assets less current liabilities |
|
|
|
8,180,634 |
|
|
8,432,772 |
|
| Creditors: amounts falling due after more than one year |
|
|
|
(6,654,182) |
|
|
(6,650,168) |
|
| Net assets |
|
|
|
1,526,452 |
|
|
1,782,604 |
|
|
|
|
|
|
|
|
| Capital and reserves |
| Called up share capital |
3 |
|
|
3,649,829 |
|
|
3,649,829 |
| Profit and loss account |
4 |
|
|
(2,123,377) |
|
|
(1,867,225) |
|
| Shareholder's funds |
|
|
|
1,526,452 |
|
|
1,782,604 |
|
|
|
|
|
|
|
|
| a. For the year under review the company was entitled to exemption from audit under section 477 of the Companies Act 2006. |
| b. The members have not required the company to obtain an audit of in accordance with section 476 of the Companies Act 2006. |
c. The directors acknowledge their responsibilities under the Companies Act 2006
(1) Ensuring the company keeps accounting records which comply with Section 386; and
(2) Preparing accounts which give a true and fair view of the state of affairs of the company as at the end of the financial year, and of its profit or loss for the financial year, in accordance with the requirements of section 393, and which otherwise comply with the requirements of the Companies Act relating to accounts, so far as is applicable to the company. |
| d. These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies’ regime. |
|
| Frances Ann Gordon |
| Director |
| 24/12/2025 |
|
| HOLDWAVE MANAGEMENT LIMITED |
| Notes to the Accounts |
| for the year ended |
31/12/2024 |
|
| 1 |
Accounting policies |
|
|
Basis of preparation |
|
The Financial Statements have been prepared under the historical cost convention and in accordance with FRS102. The Financial reporting Standard applicable in the UK and Republic of Ireland. |
|
|
Turnover |
|
Turnover represents the value, net of value added tax and discounts, of goods provided to customers and work carried out in respect of services provided to customers. |
|
|
Foreign currencies |
|
Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the rate of exchange ruling at the balance sheet date. All differences are taken to the profit and loss account. |
|
| 2 |
Investments |
| Investments in |
| subsidiary |
Other |
| undertakings |
investments |
Total |
| $ |
$ |
$ |
|
Cost |
|
At 01.01.2024 |
4,307,063 |
|
- |
|
4,307,063 |
|
Additions |
- |
|
- |
|
- |
|
Disposals |
- |
|
- |
|
|
At 31.12.2024 |
4,307,063 |
|
- |
|
4,307,063 |
|
|
|
|
|
|
|
|
|
|
The company holds 20% or more of the share capital of the following companies: |
|
| Capital and |
Profit (loss) |
|
Company |
Shares held |
reserves |
for the year |
|
|
Class |
% |
$ |
$ |
|
Fondeco LLC |
Ordinary |
50 |
|
412,007 |
|
164,860 |
|
Borovskij Zavod Agroplastmass LLC |
Ordinary |
50 |
|
1,502,193 |
|
149,739 |
|
Proplex LP |
Ordinary |
20 |
|
1,074,232 |
|
158,706 |
|
Realit OJSC |
Ordinary |
37 |
|
4,574,067 |
|
1,085,809 |
|
| Country |
| of registration |
|
Fondeco LLC |
Russia |
|
Borovskij Zavod Agroplastmass LLC |
Russia |
|
ZAP Realit LLC |
Russia |
|
Proplex LP |
Russia |
|
Realit OJSC |
Russia |
|
|
The company measures its investments in subsidiaries, associates and jointly controlled entities at |
|
cost less any accumulated impairment losses |
|
|
|
|
|
|
| 3 |
Share capital |
Nominal |
Shares |
|
2024 |
|
2023 |
| value |
Number |
S |
S |
|
Allotted, called up and fully paid: |
|
Ordinary shares |
£1 each |
|
2,710,000 |
|
3,649,829 |
|
3,649,829 |
|
B Ordinary shares |
£1 each |
|
- |
|
- |
|
- |
|
Preference shares |
£1 each |
|
- |
|
- |
|
- |
|
|
|
|
|
|
3,649,829 |
|
3,649,829 |
|
| 4 |
Profit and loss account |
2024 |
| $ |
|
|
At 01.01.2024 |
(1,867,225) |
|
Correction of prior year |
|
Profit for the year |
(284,633) |
|
Reserve movements |
28,481 |
|
At 31.12.2024 |
(2,123,377) |
|
|
|
|
|
|
|
|