| Shopwave Limited |
| Registered number: |
08675002 |
| Balance Sheet |
| as at 30 September 2017 |
|
| Notes |
|
|
2017 |
|
|
2016 |
| £ |
£ |
| Fixed assets |
| Tangible assets |
3 |
|
|
208 |
|
|
312 |
|
| Current assets |
| Stocks |
|
|
1,000 |
|
|
1,000 |
| Debtors |
4 |
|
116,969 |
|
|
- |
| Cash at bank and in hand |
|
|
14,317 |
|
|
2,813 |
|
|
|
132,286 |
|
|
3,813 |
|
| Creditors: amounts falling due within one year |
5 |
|
(79,831) |
|
|
(40,472) |
|
| Net current assets/(liabilities) |
|
|
|
52,455 |
|
|
(36,659) |
|
| Net assets/(liabilities) |
|
|
|
52,663 |
|
|
(36,347) |
|
|
|
|
|
|
|
|
| Capital and reserves |
| Called up share capital |
|
|
|
2,244 |
|
|
2,244 |
| Share premium |
|
|
|
551,845 |
|
|
551,845 |
| Profit and loss account |
|
|
|
(501,426) |
|
|
(590,436) |
|
| Shareholders' funds |
|
|
|
52,663 |
|
|
(36,347) |
|
|
|
|
|
|
|
|
| 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. |
|
|
|
|
| Ben Brown |
| Director |
| Approved by the board on 19 June 2018 |
|
| Shopwave Limited |
| Notes to the Accounts |
| for the year ended 30 September 2017 |
|
|
| 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). |
|
|
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 and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. |
|
|
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: |
|
|
Plant and machinery |
over 5 years |
|
|
Investments |
|
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account. |
|
|
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. |
|
|
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. |
|
|
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 |
2017 |
|
2016 |
| Number |
Number |
|
|
Average number of persons employed by the company |
6 |
|
6 |
|
|
|
|
|
|
|
|
|
|
| 3 |
Tangible fixed assets |
|
|
|
|
|
|
|
|
Plant and machinery etc |
| £ |
|
Cost |
|
At 1 October 2016 |
520 |
|
At 30 September 2017 |
520 |
|
|
|
|
|
|
|
|
|
|
Depreciation |
|
At 1 October 2016 |
208 |
|
Charge for the year |
104 |
|
At 30 September 2017 |
312 |
|
|
|
|
|
|
|
|
|
|
Net book value |
|
At 30 September 2017 |
208 |
|
At 30 September 2016 |
312 |
|
|
| 4 |
Debtors |
2017 |
|
2016 |
| £ |
£ |
|
|
Deferred tax asset |
|
|
|
|
116,969 |
|
- |
|
|
|
|
|
|
|
|
|
|
| 5 |
Creditors: amounts falling due within one year |
2017 |
|
2016 |
| £ |
£ |
|
|
Trade creditors |
3,908 |
|
10,024 |
|
Taxation and social security costs |
52,248 |
|
30,448 |
|
Director's account |
23,675 |
|
- |
|
|
|
|
|
|
79,831 |
|
40,472 |
|
|
|
|
|
|
|
|
|
|
| 6 |
Controlling party |
|
|
The ultimate controlling party during the period: Mark Pearson
Mark Pearson holds 22.5% of the issued share capital and is deemed the ultimate controlling party.
|
|
|
| 7 |
Other information |
|
|
Shopwave Limited is a private company limited by shares and incorporated in England. Its registered office is: |
|
Shopwave / Wayra |
|
3rd Floor |
|
Shropshire House |
|
2 - 10 Capper Street |
|
LONDON WC1E 6JA |
