BYWAVES LIMITED - Limited company - abbreviated

REGISTERED NUMBER: 01744708 (England and Wales)

ABBREVIATED UNAUDITED ACCOUNTS

FOR THE YEAR ENDED 31 DECEMBER 2014

FOR

BYWAVES LIMITED

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTORS:

Mrs H Spilsted

S Spilsted

SECRETARY:

Mrs H Spilsted

REGISTERED OFFICE:

26 Hanger Cottage

Broadreed Farm

Stansted Park

Rowlands Castle

Hampshire

PO9 6DZ

REGISTERED NUMBER:

01744708 (England and Wales)

ACCOUNTANTS:

James Todd & Co Limited

1 & 2 The Barn

Oldwick

West Stoke Road

Chichester

West Sussex

PO18 9AA

FIXED ASSETS

Tangible assets

2

156,603

152,596

CURRENT ASSETS

Debtors

15,395

22,484

Cash at bank and in hand

89

151

15,484

22,635

CREDITORS

Amounts falling due within one year

3

61,656

71,104

NET CURRENT LIABILITIES

(46,172

)

(48,469

)

TOTAL ASSETS LESS CURRENT
LIABILITIES

110,431

104,127

CREDITORS

Amounts falling due after more than
one year

3

(3,570

)

(14,548

)

PROVISIONS FOR LIABILITIES

(1,051

)

(249

)

NET ASSETS

105,810

89,330

CAPITAL AND RESERVES

Called up share capital

4

100

Revaluation reserve

25,000

Profit and loss account

80,710

64,230

SHAREHOLDERS' FUNDS

105,810

89,330

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2014.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2014 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as
at the end of each financial year and of its profit or loss for each financial year in accordance with the
requirements of Sections 394 and 395 and which otherwise comply with the requirements of the
Companies Act 2006 relating to financial statements, so far as applicable to the company.

The abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the Board of Directors on 29 September 2015 and were signed
on its behalf by:

S Spilsted - Director

1.	ACCOUNTING POLICIES

Accounting convention

The financial statements have been prepared under the historical cost convention as modified by the

revaluation of certain assets and in accordance with the Financial Reporting Standard for Smaller

Entities (effective April 2008).

Turnover

Turnover represents the amounts derived from the provision of goods and services falling within the

company's ordinary activities, after deduction of trade discounts, value added tax and any other

other taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery

-

25% on reducing balance

Fixtures and fittings

-

25% on reducing balance

Computer equipment

-

25% on reducing balance

Deferred tax

Deferred tax arises as a result of including items of income and expenditure in taxation computations

in period different from those in which they are included in the company's accounts. Deferred tax is

provided in full on timing differences which result in an obligation to pay more (or less) tax at a

future date, at the average tax rates that are expected to apply when the timing differences reverse,

based on current tax rates and laws.

Deferred tax is not provided on timing differences arising from the revaluation of fixed assets where

there is no commitment to sell the asset.

Deferred tax assets and liabilities are not discounted.

2.	TANGIBLE FIXED ASSETS

Total

£

COST OR VALUATION

At 1 January 2014

165,051

Additions

5,759

At 31 December 2014

170,810

DEPRECIATION

At 1 January 2014

12,455

Charge for year

1,752

At 31 December 2014

14,207

NET BOOK VALUE

At 31 December 2014

156,603

At 31 December 2013

152,596

3.

CREDITORS

Creditors include an amount of £ 15,149 (31.12.13 - £ 26,127 ) for which security has been given.

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.12.14

31.12.13

value:

£

100

Ordinary

£1

100

BYWAVES LIMITED - Limited company - abbreviated - 11.6

BYWAVES LIMITED - Limited company - abbreviated - 11.6