Company No: 09221929 (England and Wales)

Contents

• Balance Sheet
• Notes to the Financial Statements

	Note	2025		2024
		£		£
Fixed assets
Tangible assets	3	1,005		1,340
		1,005		1,340
Current assets
Stocks		7,015		9,072
Debtors	4	1,607		5,347
Cash at bank and in hand		724		798
		9,346		15,217
Creditors: amounts falling due within one year	5	( 197,272)		( 197,214)
Net current liabilities		(187,926)		(181,997)
Total assets less current liabilities		(186,921)		(180,657)
Net liabilities		( 186,921)		( 180,657)
Capital and reserves
Called-up share capital	6	1		1
Profit and loss account		( 186,922 )		( 180,658 )
Total shareholder's deficit		( 186,921)		( 180,657)

For the financial year ending 30 September 2025 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

• The member has not required the Company to obtain an audit of its financial statements for the financial year in accordance with section 476;
• The director acknowledges their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements; and
• These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Statement of Income and Retained Earnings has not been delivered.

The financial statements of Pleasure Wave Ltd (registered number: 09221929) were approved and authorised for issue by the Director on 14 May 2026. They were signed on its behalf by:

W Narey Director

1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Pleasure Wave Ltd (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Lowin House, Tregolls Road, Truro, TR1 2NA, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The director has assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The director has a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Turnover

Turnover is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer. Turnover from the sale of goods is recognised when the goods are physically delivered to the customer.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a [straight-line, reducing balance] basis over its expected useful life, as follows:

Plant and machinery etc.

25 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

2. Employees

	2025		2024
	Number		Number
Monthly average number of persons employed by the Company during the year, including the director	1		1

3. Tangible assets

	Plant and machinery etc.		Total
	£		£
Cost
At 01 October 2024	4,986		4,986
At 30 September 2025	4,986		4,986
Accumulated depreciation
At 01 October 2024	3,646		3,646
Charge for the financial year	335		335
At 30 September 2025	3,981		3,981
Net book value
At 30 September 2025	1,005		1,005
At 30 September 2024	1,340		1,340

4. Debtors

	2025		2024
	£		£
Amounts owed by associates	1,541		4,541
Other debtors	66		806
	1,607		5,347

5. Creditors: amounts falling due within one year

	2025		2024
	£		£
Amounts owed to director	194,565		194,565
Accruals	2,659		2,649
Other creditors	48		0
	197,272		197,214

6. Called-up share capital

	2025		2024
	£		£
Allotted, called-up and fully-paid
1 Ordinary share of £ 1.00	1		1

7. Related party transactions

Transactions with the entity's director

	2025		2024
	£		£
Amounts owed to Directors	194,565		194,565

The loan is interest free and is repayable on demand

Other related party transactions

	2025		2024
	£		£
Global Inhalation Equipment - 100% shareholder of Pleasure Wave is a director of GIE	(1,541)		(4,541)
General Anaesthetic Services - related party	48		0

At the balance sheet date the company was owed £1,541 (2024 - £4,541) by entities that are associated with the company. This has been disclosed within other debtors.
At the balance sheet date the company owed £47.60 (2024 - £0) to entities that are related parties. This has been disclosed within other creditors.