Wave Direct Limited - Filleted accounts

Registered number

10899276

Wave Direct Limited

Unaudited Filleted Accounts

31 October 2025

Wave Direct Limited
Registered number:		10899276
Balance Sheet
as at 31 October 2025

Notes			2025			2024
£				£
Fixed assets
Intangible assets	3		93,538			78,399
Tangible assets	4		4,324			7,002
			97,862			85,401

Current assets
Stocks		1,390,042			1,378,928
Debtors	5	365,126			224,206
Cash at bank and in hand		406,714			203,365
		2,161,882			1,806,499

Creditors: amounts falling due within one year	6	(2,485,166)			(1,989,730)

Net current liabilities			(323,284)			(183,231)

Total assets less current liabilities			(225,422)			(97,830)

Creditors: amounts falling due after more than one year	7		(8,829)			(14,903)

Net liabilities			(234,251)			(112,733)

Capital and reserves
Called up share capital	8		113			113
Share premium			830,520			830,520
Profit and loss account			(1,064,884)			(943,366)

Shareholders' funds			(234,251)			(112,733)

The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.




D S Luper
Director
Approved by the board on 13 May 2026

Wave Direct Limited
Notes to the Accounts
for the year ended 31 October 2025


1	Accounting policies

	Basis of preparation
	The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).

	Going Concern
	The company meets its working capital requirements through its retained cash reserves and operating cash flows. The directors and management have prepared financial forecasts which indicate that the company will maintain sufficient financial headroom to enable it to continue meeting its liabilities as they fall due in the normal course of business for at least the next twelve months following approval of these financial statements. Support has been provided via loans from the directors and shareholders, who have indicated that they do not intent to recall these loans and will continue this support for the foreseeable future. The directors, having considered the above and made due enquiries, continue to adopt the going concern basis in preparing the financial statements which assumes that the company will continue in operation for the foreseeable future. The directors have secured short terms finance facilities to bolster cash reserves early in 2026, where stock purchases are required, before cash is received later in the year, during the summer peak season.


	Turnover
	Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer.

	Intangible fixed assets
	Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.

	Computer software and domain names			over 5 years
	Intellectual property			Between 5 and 10 years


	Tangible fixed assets
	Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:

	Fixtures, fittings, and computer equipment			over 3 years

	Stocks
	Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.

	Debtors
	Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.

	Creditors
	Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.

	Taxation
	A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.

	Provisions
	Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.

	Foreign currency translation
	Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.

	Pensions
	Contributions to defined contribution plans are expensed in the period to which they relate.


2	Employees					2025		2024
Number							Number

	Average number of persons employed by the company					20		19


3	Intangible fixed assets
		Computer software		Intellectual property		Domain names	Total
£			£		£		£
	Cost
	At 1 November 2024	66,150		32,582		2,957		101,689
	Additions	31,674		-		-		31,674
	At 31 October 2025	97,824		32,582		2,957		133,363

	Amortisation
	At 1 November 2024	8,552		13,752		986		23,290
	Provided during the year	13,319		2,625		591		16,535
	At 31 October 2025	21,871		16,377		1,577		39,825

	Net book value
	At 31 October 2025	75,953		16,205		1,380		93,538
	At 31 October 2024	57,598		18,830		1,971		78,399


4	Tangible fixed assets
				Fixtures and fittings		Computer Equipment		Total
£					£		£
	Cost
	At 1 November 2024			20,232		23,681		43,913
	Additions			-		663		663
	Disposals			-		(208)		(208)
	At 31 October 2025			20,232		24,136		44,368

	Depreciation
	At 1 November 2024			17,548		19,362		36,910
	Charge for the year			1,038		2,101		3,139
	On disposals			-		(5)		(5)
	At 31 October 2025			18,586		21,458		40,044

	Net book value
	At 31 October 2025			1,646		2,678		4,324
	At 31 October 2024			2,684		4,319		7,003


5	Debtors					2025		2024
£							£

	Trade debtors					54,258		33,329
	Amounts owed by group undertakings and undertakings in which the company has a participating interest					4,061		18,891
	Financial instruments fair value					1,962		1,245
	Other debtors					304,845		170,741
						365,126		224,206


6	Creditors: amounts falling due within one year					2025		2024
£							£

	Bank loans and overdrafts					12,000		8,368
	Other Loans					1,686,434		1,322,895
	Trade creditors					139,136		106,866
	Taxation and social security costs					495,933		473,068
	Other creditors					151,663		78,533
						2,485,166		1,989,730


7	Creditors: amounts falling due after one year					2025		2024
£							£

	Bank loans					8,829		14,903


8	Share Capital					2025		2024
£							£

	7,762 Ordinary A share with a nominal value of £0.01					77		77
	3,583 Ordinary B shares with a nominal value of £0.01					36		36

						113		113


9	Other financial commitments					2025		2024
£							£

	Total future minimum payments under non-cancellable operating leases					80,208		-


10	Related party transactions

	All transactions entered into with companies under common control were concluded under normal market conditions, therefore no further disclosure is necessary in accordance with FRS102 section 1A
						2025		2024
£							£

	Other loans due to Directors					690,486		654,201
	Other loans due to shareholders					708,815		668,694

	Interest of £79,229 (2024 £75,347) was charged on the loans from shareholders and from directors
	at a rate of 6%pa accruing daily.
	Each loan is repayable on demand and therefore included in the accounts as due within one year

11	Other information

	Wave Direct Limited is a private company limited by shares and incorporated in England. Its registered office is:
	Unit 21B The Pantry
	Bakers Yard
	Christon Road
	Gosforth
	NE3 1XD