Ninth Wave Limited - Accounts to registrar (filleted) - small 17.3

REGISTERED NUMBER: 03033752 (England and Wales)

FINANCIAL STATEMENTS FOR THE YEAR ENDED 30TH APRIL 2017

FOR

NINTH WAVE LIMITED

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

J P Lewis

R I Meakin

SECRETARY:

J P Lewis

REGISTERED OFFICE:

4th Floor

Sherborne House

119 Cannon Street

London

EC4N 5AT

REGISTERED NUMBER:

03033752 (England and Wales)

ACCOUNTANTS:

Russell New Limited

The Courtyard

Shoreham Road

Upper Beeding

Steyning

West Sussex

BN44 3TN

FIXED ASSETS

Tangible assets

4

22,513

60,899

Investments

5

176,112

157,676

198,625

218,575

CURRENT ASSETS

Debtors

171,296

432,979

Cash at bank

2,334,870

1,984,432

2,506,166

2,417,411

CREDITORS

Amounts falling due within one year

150,387

169,120

NET CURRENT ASSETS

2,355,779

2,248,291

TOTAL ASSETS LESS CURRENT LIABILITIES

2,554,404

2,466,866

PROVISIONS FOR LIABILITIES

-

2,104

NET ASSETS

2,554,404

2,464,762

CAPITAL AND RESERVES

Called up share capital

20

22

Capital redemption reserve

4

2

Fair value reserve

6

(26,311

)

(44,747

)

Retained earnings

2,580,691

2,509,485

SHAREHOLDERS' FUNDS

2,554,404

2,464,762

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30th April 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 30th April 2017 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 financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 30th April 2017 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors on 17th January 2018 and were signed on its behalf by:

J P Lewis - Director

1.	STATUTORY INFORMATION

Ninth Wave Limited is a private company, limited by shares , registered in England and Wales. The company's registered

number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover represents net invoiced sales of services, excluding value added tax, except in respect of service contracts where

turnover is recognised when the company obtains the right to consideration.

Tangible fixed assets

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

Fixtures and fittings

-

20% on reducing balance

Computer equipment

-

straight line over 3 years

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent

that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively

enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in

which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted

or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet

date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction.

Exchange differences are taken into account in arriving at the operating result.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are

charged to profit or loss in the period to which they relate.

Investments

Investments held as fixed assets are stated at cost less provision for permanent diminution in value. Investments held as

current assets are stated at the lower of cost and net realisable value.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 14 (2016 - 19 ) .

4.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1st May 2016

259,363

Additions

2,425

At 30th April 2017

261,788

DEPRECIATION

At 1st May 2016

198,464

Charge for year

40,811

At 30th April 2017

239,275

NET BOOK VALUE

At 30th April 2017

22,513

At 30th April 2016

60,899

5.	FIXED ASSET INVESTMENTS

Investments (neither listed nor unlisted) were as follows:

2017

2016

£

£

Britannia Gold coins

157,676

139,334

Reversal of impairment

18,436

18,342

176,112

157,676

6.

RESERVES

Fair

value

reserve

£

At 1st May 2016

(44,747

)

Reversal of impairment

18,436

At 30th April 2017

(26,311

)

7.	CAPITAL COMMITMENTS

2017

2016

£

£

Contracted but not provided for in the

financial statements

339,000

429,400

8.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

At the start of the year A W Snowdon a director of the company owed the company £300,000. This was repaid during the

year and therefore no amount was outstanding at the balance sheet date.

9.	SHARE-BASED PAYMENT TRANSACTIONS

The company has granted the following approved EMI option schemes:

Date of grant: 01-May-12

Number granted: 72 £0.01 A Ordinary shares

Option exercise price: £0.01

Exercise date: vest on sale of the business

Date of grant: 01-Jul-15

Number granted: 18 £0.01 A Ordinary shares

Option exercise price: £0.01

Exercise date: vest on sale of the business

The market value of these shares as agreed with H M Revenue and Customs is £190 per share.

10.

CONTROL

The company is controlled by its directors as they have a beneficial interest in the majority of the voting share capital of the

company.

11.	SHARE BUYBACK

On 26 September 2016 the company purchased 196 of its own E Ordinary £0.01shares for consideration of £340,000. This

represents 9% of the issued share capital brought forward.