0 false false false false false false false false false true false false false false false false No description of principal activity 2022-03-01 Sage Accounts Production Advanced 2021 - FRS102_2021 xbrli:pure xbrli:shares iso4217:GBP 12450011 2022-03-01 2023-02-28 12450011 2023-02-28 12450011 2022-02-28 12450011 bus:Director4 2022-03-01 2023-02-28 12450011 core:WithinOneYear 2023-02-28 12450011 core:WithinOneYear 2022-02-28 12450011 core:AfterOneYear 2023-02-28 12450011 core:AfterOneYear 2022-02-28 12450011 core:ShareCapital 2023-02-28 12450011 core:ShareCapital 2022-02-28 12450011 core:RetainedEarningsAccumulatedLosses 2023-02-28 12450011 core:RetainedEarningsAccumulatedLosses 2022-02-28 12450011 bus:SmallEntities 2022-03-01 2023-02-28 12450011 bus:AuditExemptWithAccountantsReport 2022-03-01 2023-02-28 12450011 bus:FullAccounts 2022-03-01 2023-02-28 12450011 bus:SmallCompaniesRegimeForAccounts 2022-03-01 2023-02-28 12450011 bus:PrivateLimitedCompanyLtd 2022-03-01 2023-02-28
COMPANY REGISTRATION NUMBER: 12450011
Thanet Way Limited
Filleted Unaudited Financial Statements
For the period ended
28 February 2023
Thanet Way Limited
Statement of Financial Position
28 February 2023
2023
2022
Note
£
£
Current assets
Stocks
10,332,609
6,487,343
Debtors
4
141,563
275,182
Cash at bank and in hand
2,165
1,291
-------------
------------
10,476,337
6,763,816
Creditors: amounts falling due within one year
5
10,473,707
6,739,957
-------------
------------
Net current assets
2,630
23,859
-------
--------
Total assets less current liabilities
2,630
23,859
Creditors: amounts falling due after more than one year
6
13,333
33,333
--------
--------
Net liabilities
( 10,703)
( 9,474)
--------
--------
Capital and reserves
Called up share capital
100
100
Profit and loss account
( 10,803)
( 9,574)
--------
-------
Shareholders deficit
( 10,703)
( 9,474)
--------
-------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 28 February 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Thanet Way Limited
Statement of Financial Position (continued)
28 February 2023
These financial statements were approved by the board of directors and authorised for issue on 27 November 2023 , and are signed on behalf of the board by:
N R Yates
Director
Company registration number: 12450011
Thanet Way Limited
Notes to the Financial Statements
Year ended 28 February 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Hyde House, The Hyde, Edgware Road, London, NW9 6LA.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
4. Debtors
2023
2022
£
£
Other debtors
141,563
275,182
---------
---------
5. Creditors: amounts falling due within one year
2023
2022
£
£
Bank loans and overdrafts
10,000
Other creditors
10,463,707
6,739,957
-------------
------------
10,473,707
6,739,957
-------------
------------
6. Creditors: amounts falling due after more than one year
2023
2022
£
£
Bank loans and overdrafts
13,333
33,333
--------
--------
The bank loan is repayable by monthly repayments over a period of six years. Interest is charged at 2.5% per annum.