Company registration number 03033752 (England and Wales)
NINTH WAVE LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED
30 APRIL 2025
PAGES FOR FILING WITH REGISTRAR
The Courtyard
Shoreham Road
Upper Beeding
Steyning
West Sussex
BN44 3TN
NINTH WAVE LIMITED
CONTENTS
Page
Company information
1
Balance sheet
2 - 3
Notes to the financial statements
4 - 8
NINTH WAVE LIMITED
COMPANY INFORMATION
- 1 -
Directors
Mr J P Lewis
Mr R I Meakin
Secretary
Mr J P Lewis
Company number
03033752
Registered office
35 Berkeley Square
Mayfair
London
W1J 5BF
Accountants
TC Group
The Courtyard
Shoreham Road
Upper Beeding
Steyning
West Sussex
BN44 3TN
NINTH WAVE LIMITED
BALANCE SHEET
AS AT
30 APRIL 2025
30 April 2025
- 2 -
2025
2024
Notes
£
£
£
£
Fixed assets
Tangible assets
3
17,346
27,747
Investments
4
438,255
328,343
455,601
356,090
Current assets
Debtors
5
283,596
328,968
Cash at bank and in hand
1,772,929
1,288,463
2,056,525
1,617,431
Creditors: amounts falling due within one year
6
(397,086)
(424,204)
Net current assets
1,659,439
1,193,227
Total assets less current liabilities
2,115,040
1,549,317
Provisions for liabilities
(4,337)
(6,937)
Net assets
2,110,703
1,542,380
Capital and reserves
Called up share capital
7
19
19
Capital redemption reserve
5
5
Profit and loss reserves
2,110,679
1,542,356
Total equity
2,110,703
1,542,380
NINTH WAVE LIMITED
BALANCE SHEET (CONTINUED)
AS AT
30 APRIL 2025
30 April 2025
- 3 -

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 30 April 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

T he members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

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

The financial statements were approved by the board of directors and authorised for issue on 21 January 2026 and are signed on its behalf by:
Mr J P Lewis
Director
Company Registration No. 03033752
The notes on pages 4 to 8 form part of these financial statements
NINTH WAVE LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2025
- 4 -
1
Accounting policies
Company information

Ninth Wave Limited is a private company limited by shares incorporated in England and Wales. The registered office is 35 Berkeley Square, Mayfair, London, W1J 5BF.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary a mounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, [modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value]. The principal accounting policies adopted are set out below.

1.2
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Revenue from contracts for the provision of professional services is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. The stage of completion is calculated by comparing costs incurred, mainly in relation to contractual hourly staff rates and materials, as a proportion of total costs. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that it is probable will be recover ed.

1.3
Research and development expenditure

Research expenditure is written off against profits in the year in which it is incurred. Identifiable development expenditure is capitalised to the extent that the technical, commercial and financial feasibility can be demonstrated.

1.4
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Fixtures and fittings
20% reducing balance
Computers
33% straight line
NINTH WAVE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2025
1
Accounting policies
(Continued)
- 5 -
1.5
Fixed asset investments

Fixed asset investments are initially measured at transaction price excluding transaction costs, and are subsequently measured at fair value at each reporting date. Changes in fair value are recognised in profit or loss. Transaction costs are expensed to profit or loss as incurred.

1.6
Cash at bank and in hand

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.7
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

1.8
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes 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 reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

The carrying amount of deferred tax assets is reviewed at each reporting end date 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 is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

1.9
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

NINTH WAVE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2025
1
Accounting policies
(Continued)
- 6 -
1.10
Government grants

Government grants are recognised at the fair value of the asset receive d or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received.

A grant that specifies performance conditions is recognised in income when the performance conditions are met. Where a grant does not specify performance conditions it is recognised in income when the proceeds are received or receivable. A grant received before the recognition criteria are satisfied is recognised as a liability.

1.11
Foreign exchange

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2025
2024
Number
Number
Total
12
12
3
Tangible fixed assets
Fixtures and fittings
Computers
Total
£
£
£
Cost
At 1 May 2024 and 30 April 2025
90,056
419,015
509,071
Depreciation and impairment
At 1 May 2024
80,342
400,982
481,324
Depreciation charged in the year
1,943
8,458
10,401
At 30 April 2025
82,285
409,440
491,725
Carrying amount
At 30 April 2025
7,771
9,575
17,346
At 30 April 2024
9,714
18,033
27,747
NINTH WAVE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2025
- 7 -
4
Fixed asset investments
2025
2024
£
£
Other investments other than loans
438,255
328,343
Movements in fixed asset investments
Investments
£
Cost or valuation
At 1 May 2024
328,343
Valuation changes
109,912
At 30 April 2025
438,255
Carrying amount
At 30 April 2025
438,255
At 30 April 2024
328,343
5
Debtors
2025
2024
Amounts falling due within one year:
£
£
Trade debtors
257,236
290,119
Other debtors
26,360
38,849
283,596
328,968
6
Creditors: amounts falling due within one year
2025
2024
£
£
Trade creditors
8,017
6,957
Taxation and social security
227,509
189,443
Other creditors
161,560
227,804
397,086
424,204
NINTH WAVE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2025
- 8 -
7
Called up share capital
2025
2024
2025
2024
Ordinary share capital
Number
Number
£
£
Ordinary of 1p each
1,904
1,904
19
19
8
Non-distributable reserves

In cl uded within retained earnings are non-distributable reserves of £177,686.

9
Operating lease commitments

At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:

2025
2024
£
£
14,256
13,356
10
Parent company

U ltimate control of the company is held by Ninth Wave Employee Ownership Trust. This is by virtue of the fact that it own s the majority voting share capital of the company.

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