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Company registration number: 02809317
| UNAUDITED FINANCIAL STATEMENTS
| FOR THE YEAR ENDED 31 MAY 2025
| WAVELENGTH HOLDINGS LIMITED
WAVELENGTH HOLDINGS LIMITED |  |
COMPANY INFORMATION
Directors | Mr I Mclnnes
| Mrs J Mclnnes
| Ms L McInnes
Company secretary | Mr A Ward
Registered number | 02809317
Registered office | Unit 33, Mitchell Point
| Ensign Way
| Hamble
| Southampton
| Hampshire
| SO31 4RF
Accountants | Menzies LLP
| Chartered Accountants
| 3000a Parkway
| Whiteley
| Hampshire
| PO15 7FX
Bankers | National Westminister Bank Plc
| 69 - 73 High Street
| Cosham
| Portsmouth
| Hampshire
| PO6 3DA
WAVELENGTH HOLDINGS LIMITED |  |
CONTENTS
| Page
Statement of Financial Position | 1 - 2
Notes to the Financial Statements | 3 - 10
WAVELENGTH HOLDINGS LIMITED REGISTERED NUMBER:02809317 |  |
STATEMENT OF FINANCIAL POSITION AS AT 31 MAY 2025
|  | 2025 |  | 2024
Note |  | £ |  | £
Fixed assets |  |  |  |  |
Tangible assets | 5 |  | 97,174 |  | 24,002
Investments | 6 |  | 6,002 |  | 6,002
|  |  | 103,176 |  | 30,004
Current assets |  |  |  |  |
Stocks |  | 81,623 |  | 44,738 |
Debtors: amounts falling due within one year | 7 | 3,925,500 |  | 3,319,256 |
Cash at bank and in hand |  | 57,981 |  | 64,664 |
|  | 4,065,104 |  | 3,428,658 |
Creditors: amounts falling due within one year | 8 | (1,718,597) |  | (1,490,995) |
Net current assets |  |  | 2,346,507 |  | 1,937,663
Total assets less current liabilities |  |  | 2,449,683 |  | 1,967,667
Creditors: amounts falling due after more than one year | 9 |  | (87,997) |  | (30,119)
Net assets |  |  | 2,361,686 |  | 1,937,548
Page 1
WAVELENGTH HOLDINGS LIMITED REGISTERED NUMBER:02809317 |  |
STATEMENT OF FINANCIAL POSITION (CONTINUED) AS AT 31 MAY 2025
|  | 2025 |  | 2024
|  | £ |  | £
Capital and reserves |  |  |  |  |
Called up share capital |  |  | 2 |  | 2
Profit and loss account |  |  | 2,361,684 |  | 1,937,546
|  |  | 2,361,686 |  | 1,937,548
The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006. 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. The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities. The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime. The financial statements were approved and authorised for issue by the board and were signed on its behalf by:
................................................ Mr I Mclnnes
Director
Date: 15 April 2026
The notes on pages 3 to 10 form part of these financial statements. Page 2
WAVELENGTH HOLDINGS LIMITED |  |
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2025
1. | General information
Wavelength Holdings Limited is a private company limited by shares, registered in England and Wales. The address of its registered office is disclosed on the company information page. 2.Accounting policies
| 2.1 | Basis of preparation of financial statements
The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. 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 following principal accounting policies have been applied:
| 2.2 | Foreign currency translation
Functional and presentation currency The Company's functional and presentational currency is GBP. Transactions and balances Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions. At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined. Page 3
WAVELENGTH HOLDINGS LIMITED |  |
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2025 2.Accounting policies (continued)
| 2.3 | Revenue
Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as 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 all of the following conditions are satisfied: ∙the Company has transferred the significant risks and rewards of ownership to the buyer; ∙the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold; ∙the amount of revenue can be measured reliably; ∙it is probable that the Company will receive the consideration due under the transaction; and ∙the costs incurred or to be incurred in respect of the transaction can be measured reliably. Rendering of services Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied: ∙the amount of revenue can be measured reliably; ∙it is probable that the Company will receive the consideration due under the contract; ∙the stage of completion of the contract at the end of the reporting period can be measured reliably; and ∙the costs incurred and the costs to complete the contract can be measured reliably.
| 2.4 | Interest income
Interest income is recognised in profit or loss using the effective interest method.
| 2.5 | Finance costs
Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.
| 2.6 | Pensions
Defined contribution pension plan The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations. The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of Financial Position. The assets of the plan are held separately from the Company in independently administered funds. Page 4
WAVELENGTH HOLDINGS LIMITED |  |
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2025 2.Accounting policies (continued)
| 2.7 | Taxation
Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively. The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates income.
| 2.8 | Intangible assets
Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses. All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.
| 2.9 | Tangible fixed assets
Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management. Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method. Depreciation is provided on the following basis:
|  |  |  | Plant and machinery | - | 20% straight line
|  |  |  | Motor vehicles | - | 30% straight line
|  |  |  | Fixtures and fittings | - | 20% straight line
The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date. Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.
| 2.10 | Valuation of investments
Investments in subsidiaries are measured at cost less accumulated impairment.
| 2.11 | Stocks
Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads. At each reporting date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss. Page 5
WAVELENGTH HOLDINGS LIMITED |  |
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2025 2.Accounting policies (continued)
| 2.12 | Debtors
Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.
| 2.13 | Creditors
Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.
| 2.14 | Financial instruments
The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments. Basic financial assets Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.
| 2.15 | Dividends
Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.
3. | Employees
| The average monthly number of employees, including directors, during the year was 3 (2024 - 4).
Page 6
WAVELENGTH HOLDINGS LIMITED |  |
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2025
4. | Intangible assets
|  | Goodwill
|  | £
| Cost |
| At 1 June 2024 | 250,000
| At 31 May 2025 | 250,000
| Amortisation |
| At 1 June 2024 | 250,000
| At 31 May 2025 | 250,000
| Net book value |
| At 31 May 2025 | -
| At 31 May 2024 | -
Page 7
WAVELENGTH HOLDINGS LIMITED |  |
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2025
5. | Tangible fixed assets
|  | Plant and machinery | Motor vehicles | Fixtures and fittings | Total
|  | £ | £ | £ | £
| Cost or valuation |  |  |  |
| At 1 June 2024 | 100,000 | 72,070 | 5,349 | 177,419
| Additions | - | 98,884 | - | 98,884
| At 31 May 2025 | 100,000 | 170,954 | 5,349 | 276,303
| Depreciation |  |  |  |
| At 1 June 2024 | 100,000 | 50,074 | 3,343 | 153,417
| Charge for the year on owned assets | - | 24,979 | 733 | 25,712
| At 31 May 2025 | 100,000 | 75,053 | 4,076 | 179,129
| Net book value |  |  |  |
| At 31 May 2025 | - | 95,901 | 1,273 | 97,174
| At 31 May 2024 | - | 21,996 | 2,006 | 24,002
Page 8
WAVELENGTH HOLDINGS LIMITED |  |
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2025
6. | Fixed asset investments
|  | Investments in subsidiary companies | Unlisted investments | Total
|  | £ | £ | £
| Cost or valuation |  |  |
| At 1 June 2024 | 1 | 6,001 | 6,002
| At 31 May 2025 | 1 | 6,001 | 6,002
7. | Debtors
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Trade debtors | 253,655 | 276,123
| Other debtors | 3,106,319 | 2,489,009
| Prepayments and accrued income | 234,289 | 249,345
| Tax recoverable | 331,237 | 304,779
|  | 3,925,500 | 3,319,256
8. | Creditors: Amounts falling due within one year
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Trade creditors | 135,314 | 126,969
| Corporation tax | 233,635 | 221,978
| Other taxation and social security | 88,214 | 73,812
| Obligations under finance lease and hire purchase contracts | 17,953 | 3,917
| Other creditors | 1,235,318 | 1,055,025
| Accruals and deferred income | 8,163 | 9,294
|  | 1,718,597 | 1,490,995
Page 9
WAVELENGTH HOLDINGS LIMITED |  |
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2025
9. | Creditors: Amounts falling due after more than one year
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Net obligations under finance leases and hire purchase contracts | 87,997 | 30,119
|  | 87,997 | 30,119
10. | Transactions with directors
As at the balance sheet date, the directors owed the Company £1,500,515 (2024 - £1,061,143). This amount is undated, unsecured and interest free.
11. | Related party transactions
| The directors consider there were no material related party transactions and balances under the Financial Reporting Standard FRS102 1A disclosure requirements for small entities.
Page 10