WAVE TOPCO LIMITED
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Next accounts due
2027-01-31 (in 8mo)
Last filed for 2025-04-30
Confirmation statement due
2026-10-25 (in 5mo)
Last made up 2025-10-11
Watchouts
Cash
£3M
+36.5% vs 2024
Net assets
-£1M
-131.9% vs 2024
Employees
387
+1.8% vs 2024
Profit before tax
-£5M
-1,585.1% vs 2024
Watchouts
Facts from the Companies House register and the latest accounts — not a rating
-
5 officer resignations in last 12 months
Multiple officers have left the board recently — see the People section for who.
-
1 PSC ceased in last 24 months
Significant control changed hands — see the Ownership section.
Net assets
2-year trend · vs Technology median
Accounts
2-year trend · latest reflected 2025-04-30
| Metric | Trend | 2024-04-30 | 2025-04-30 |
|---|---|---|---|
| Turnover | £32,526,000 | £31,160,000 | |
| Operating profit | -£261,000 | -£2,173,000 | |
| Profit before tax | -£316,000 | -£5,325,000 | |
| Net profit | -£3,691,000 | -£5,558,000 | |
| Cash | £2,283,000 | £3,116,000 | |
| Total assets less current liabilities | £32,195,000 | £31,532,000 | |
| Net assets | £4,213,000 | -£1,345,000 | |
| Equity | £4,213,000 | -£1,345,000 | |
| Average employees | 380 | 387 | |
| Wages | £17,683,000 | £18,324,000 | |
| Directors' remuneration | £1,272,000 | £1,253,000 |
Values shown as filed in the company's annual accounts. — indicates the figure wasn't present under that line item in that period. About these numbers
Year-on-year
FY2024 → FY2025 · period ending 2025-04-30 vs 2024-04-30
-
Turnover
-4.2%
£32,526,000 £31,160,000
-
Cash
+36.5%
£2,283,000 £3,116,000
-
Net assets
-131.9%
£4,213,000 -£1,345,000
-
Employees
+1.8%
380 387
-
Operating profit
-732.6%
-£261,000 -£2,173,000
-
Profit before tax
-1,585.1%
-£316,000 -£5,325,000
-
Wages
+3.6%
£17,683,000 £18,324,000
Each % is (latest − prior) ÷ |prior| for the line item as filed. The comparison is only shown when the latest and prior accounts cover broadly equal-length periods — short or long stubs (typical around incorporation or a year-end change) are suppressed rather than misrepresented. Lines a company doesn't report are omitted. About these numbers
Ratios
Computed from the line items above — sparklines read oldest → newest
| Ratio | Trend | 2024-04-30 | 2025-04-30 |
|---|---|---|---|
| Operating margin | -0.8% | -7.0% | |
| Net margin | -11.3% | -17.8% | |
| Return on capital employed | -0.8% | -6.9% | |
| Current ratio | 2.43x | 1.64x | |
| Interest cover | -0.09x | -0.68x |
Margins divide P&L lines by turnover. Gearing is liabilities over total assets. Current ratio is current assets over creditors falling due within one year. Interest cover is operating profit over absolute finance costs. Sector-distribution context coming next.
Audit & accounting basis
- Accounting basis
- FRS 102
- Reporting scope
- Consolidated group
- Auditor
- RSM UK Audit LLP
- Audit opinion
- Unqualified (clean)
- Going concern
- Affirmed
“The financial statements have been prepared using the going concern basis of accounting. The directors have reviewed the company's going concern position taking into account its current business activities, budgeted performance and factors likely to affect its future performance. Based on the information contained within the accounts, the directors have reasonable expectation that the company and group have adequate resources to continue in operational existence for the foreseeable future.”
Group structure
- WAVE TOPCO LIMITED · parent
- Wave Midco 1 Limited 100%
- Wave Midco 2 Limited 100%
- Wave Bidco Limited 100%
- Ten10 Group Limited 100%
- Ten10 Solutions Limited 100%
- Ten10 Solutions Inc 100%
- Centre4 Testing Limited 100%
- The Scale Factory Topco Limited 100%
- The Scale Factory Limited 100%
Significant events
- “On 15 November 2024, the group acquired the entire share capital of The Scale Factory Topco Limited and its subsidiary, The Scale Factory Limited.”
Auditor, going-concern and subsidiary information is drawn from the narrative of the latest annual accounts. About these numbers
People
4 active · 7 resigned
| Name | Role | Appointed | Born | Nationality |
|---|---|---|---|---|
| APPLEBY, James Charles | Director | 2025-07-01 | Mar 1970 | British |
| FRODIN, Richard | Director | 2023-06-07 | Dec 1973 | British |
| GOLDSMITH, Richard | Director | 2025-10-01 | Nov 1981 | British |
| THOMPSON, Christopher Paul | Director | 2020-10-19 | Aug 1976 | British |
Show 7 resigned officers
| Name | Role | Appointed | Resigned |
|---|---|---|---|
| BRIANT, Jenny Elizabeth | Director | 2023-06-07 | 2026-03-02 |
| FAULDS, James Joseph Michael | Director | 2021-01-01 | 2025-05-07 |
| GAWTHORP, Ashley William | Director | 2020-10-19 | 2026-03-02 |
| PICKFORD, Matthew Edward | Director | 2020-10-19 | 2025-09-19 |
| SHAW, Christopher Lee | Director | 2020-10-19 | 2025-02-28 |
| SPENCE, Timothy James | Director | 2020-10-12 | 2020-10-19 |
| THOMPSON, Jonathan Andrew | Director | 2020-10-19 | 2026-03-02 |
Ownership
Persons with significant control
| Name | Kind | Nature of control | Notified | Status |
|---|---|---|---|---|
| Mr Christopher Lee Shaw | Individual | Shares 25–50% | 2020-10-19 | Ceased 2024-07-31 |
| Graphite Capital General Partner Ix Llp | Corporate entity | Voting 75–100%, Appoints directors | 2020-10-19 | Active |
| Graphite Capital Management Llp | Corporate entity | Shares 75–100%, Voting 75–100% | 2020-10-12 | Ceased 2020-10-19 |
Filing timeline
Last 20 of 44 total filings
| Date | Type | Category | Description | |
|---|---|---|---|---|
| 2026-03-12 | TM01 | officers | Termination director company with name termination date | |
| 2026-03-12 | TM01 | officers | Termination director company with name termination date | |
| 2026-03-12 | TM01 | officers | Termination director company with name termination date | |
| 2026-01-28 | AA | accounts | Accounts with accounts type group | |
| 2025-10-22 | CS01 | confirmation-statement | Confirmation statement with updates | |
| 2025-10-22 | PSC07 | persons-with-significant-control | Cessation of a person with significant control | |
| 2025-10-17 | AD01 | address | Change registered office address company with date old address new address | |
| 2025-10-17 | AP01 | officers | Appoint person director company with name date | |
| 2025-09-19 | TM01 | officers | Termination director company with name termination date | |
| 2025-07-09 | AP01 | officers | Appoint person director company with name date | |
| 2025-06-26 | TM01 | officers | Termination director company with name termination date | |
| 2025-06-26 | TM01 | officers | Termination director company with name termination date | |
| 2024-11-01 | AA | accounts | Accounts with accounts type group | |
| 2024-10-23 | CS01 | confirmation-statement | Confirmation statement with updates | |
| 2023-11-09 | SH01 | capital | Capital allotment shares | |
| 2023-10-17 | CS01 | confirmation-statement | Confirmation statement with updates | |
| 2023-10-03 | AA | accounts | Accounts with accounts type group | |
| 2023-06-16 | SH01 | capital | Capital allotment shares | |
| 2023-06-09 | AP01 | officers | Appoint person director company with name date | |
| 2023-06-09 | AP01 | officers | Appoint person director company with name date |
Public-record activity
Raw counts from Companies House — last 12–24 months
- Filings
- 12
- Capital events
- 0
- Officers appointed
- 2
- Officers resigned
- 5
last 12 months
last 24 months
last 12 months
last 12 months
Direct counts from the register. No score, no rating — see the Filing timeline for the underlying events.