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REGISTERED NUMBER: 02975017 (England and Wales)






Unaudited Financial Statements

for the Year Ended 28th February 2023

for

FIVEWAY SYSTEMS LIMITED

FIVEWAY SYSTEMS LIMITED (REGISTERED NUMBER: 02975017)






Contents of the Financial Statements
for the Year Ended 28th February 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


FIVEWAY SYSTEMS LIMITED

Company Information
for the Year Ended 28th February 2023







Directors: G J D Hastings
I T Abbott
M J Smith





Registered office: C4 Regent Park
Princes Estate
Princes Risborough
Buckinghamshire
HP27 9LE





Registered number: 02975017 (England and Wales)





Accountants: S G Beale and Co
Chartered Accountants
1 Kille House
Chinnor Road
Thame
Oxfordshire
OX9 3NU

FIVEWAY SYSTEMS LIMITED (REGISTERED NUMBER: 02975017)

Balance Sheet
28th February 2023

2022 2023
£    £    Notes £    £   
FIXED ASSETS
499,984 Tangible assets 4 623,959

CURRENT ASSETS
135,810 Stocks 49,826
454,561 Debtors 5 511,603
1,013,416 Cash at bank 855,431
1,603,787 1,416,860
CREDITORS
476,237 Amounts falling due within one year 6 333,173
1,127,550 NET CURRENT ASSETS 1,083,687

1,627,534
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,707,646

7,401 PROVISIONS FOR LIABILITIES 7 46,208
1,620,133 NET ASSETS 1,661,438

CAPITAL AND RESERVES
100 Called up share capital 8 100
1,620,033 Retained earnings 1,661,338
1,620,133 SHAREHOLDERS' FUNDS 1,661,438

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28th February 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 28th February 2023 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.

FIVEWAY SYSTEMS LIMITED (REGISTERED NUMBER: 02975017)

Balance Sheet - continued
28th February 2023


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

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 and authorised for issue on 8th November 2023 and were signed on its behalf by:





G J D Hastings - Director


FIVEWAY SYSTEMS LIMITED (REGISTERED NUMBER: 02975017)

Notes to the Financial Statements
for the Year Ended 28th February 2023

1. STATUTORY INFORMATION

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

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Land and buildings - 2% on cost
Plant and machinery etc - 25% on cost and 20% on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 16 (2022 - 17 ) .

FIVEWAY SYSTEMS LIMITED (REGISTERED NUMBER: 02975017)

Notes to the Financial Statements - continued
for the Year Ended 28th February 2023

4. TANGIBLE FIXED ASSETS
Freehold Plant and Motor Computer
Totals property machinery vehicles equipment
£    £    £    £    £   
Cost
At 1st March 2022 955,304 487,807 55,322 309,697 102,478
Additions 188,644 - 1,250 185,107 2,287
Disposals (110,935 ) - - (110,935 ) -
At 28th February 2023 1,033,013 487,807 56,572 383,869 104,765
Depreciation
At 1st March 2022 455,320 58,600 55,321 243,443 97,956
Charge for year 47,310 4,277 250 41,403 1,380
Eliminated on disposal (93,576 ) - - (93,576 ) -
At 28th February 2023 409,054 62,877 55,571 191,270 99,336
Net book value
At 28th February 2023 623,959 424,930 1,001 192,599 5,429
At 28th February 2022 499,984 429,207 1 66,254 4,522

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 498,049 443,107
Directors' current accounts - 9,706
Prepayments and accrued income 13,554 1,748
511,603 454,561

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 237,498 240,606
Corporation tax (3,481 ) 62,034
Social security and other taxes 18,473 22,179
VAT 55,930 62,888
Other creditors 410 420
Accruals and deferred income 24,343 88,110
333,173 476,237

7. PROVISIONS FOR LIABILITIES
2023 2022
£    £   
Deferred tax
Accelerated capital allowances 46,208 7,401

FIVEWAY SYSTEMS LIMITED (REGISTERED NUMBER: 02975017)

Notes to the Financial Statements - continued
for the Year Ended 28th February 2023

7. PROVISIONS FOR LIABILITIES - continued

Deferred
tax
£   
Balance at 1st March 2022 7,401
Charge to Income Statement during year 38,807
Balance at 28th February 2023 46,208

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
100 Ordinary 1 100 100