REGISTERED NUMBER: |
FINANCIAL STATEMENTS |
FOR THE PERIOD 1 JULY 2022 TO 31 OCTOBER 2023 |
FOR |
FIVE WAY PROPERTIES LIMITED |
REGISTERED NUMBER: |
FINANCIAL STATEMENTS |
FOR THE PERIOD 1 JULY 2022 TO 31 OCTOBER 2023 |
FOR |
FIVE WAY PROPERTIES LIMITED |
FIVE WAY PROPERTIES LIMITED (REGISTERED NUMBER: 11101321) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE PERIOD 1 JULY 2022 TO 31 OCTOBER 2023 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
FIVE WAY PROPERTIES LIMITED |
COMPANY INFORMATION |
FOR THE PERIOD 1 JULY 2022 TO 31 OCTOBER 2023 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Tax Advisers, Accountants |
and Business Consultants |
Vantage Point House |
Silverhills Road |
Decoy Industrial Estate |
Newton Abbot |
Devon |
TQ12 5ND |
BANKERS: |
Worcester 2 |
Leicestershire |
LE87 2BB |
FIVE WAY PROPERTIES LIMITED (REGISTERED NUMBER: 11101321) |
BALANCE SHEET |
31 OCTOBER 2023 |
2023 | 2022 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Intangible assets | 4 |
CURRENT ASSETS |
Debtors | 5 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 6 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
7 |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Other reserves | ( |
) | ( |
) |
Retained earnings |
SHAREHOLDERS' FUNDS |
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. |
FIVE WAY PROPERTIES LIMITED (REGISTERED NUMBER: 11101321) |
BALANCE SHEET - continued |
31 OCTOBER 2023 |
In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered. |
The financial statements were approved by the Board of Directors and authorised for issue on |
FIVE WAY PROPERTIES LIMITED (REGISTERED NUMBER: 11101321) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE PERIOD 1 JULY 2022 TO 31 OCTOBER 2023 |
1. | STATUTORY INFORMATION |
Five Way Properties Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Intangible assets |
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses. |
Taxation |
Taxation for the period comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 period 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. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the period was NIL (2022 - NIL). |
FIVE WAY PROPERTIES LIMITED (REGISTERED NUMBER: 11101321) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE PERIOD 1 JULY 2022 TO 31 OCTOBER 2023 |
4. | INTANGIBLE FIXED ASSETS |
Franchise |
Fee |
£ |
COST |
At 1 July 2022 |
Disposals | ( |
) |
At 31 October 2023 |
NET BOOK VALUE |
At 31 October 2023 |
At 30 June 2022 |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Directors' current accounts | - | 876 |
VAT |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Bank loans and overdrafts (see note 8) |
Other creditors |
Directors' current accounts | 22,899 | - |
Accrued expenses |
7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2023 | 2022 |
£ | £ |
Bank loans (see note 8) |
8. | LOANS |
An analysis of the maturity of loans is given below: |
2023 | 2022 |
£ | £ |
Amounts falling due within one year or on demand: |
Bank overdrafts |
Bank loans |
Amounts falling due between two and five years: |
Bank loans - 2-5 years |
FIVE WAY PROPERTIES LIMITED (REGISTERED NUMBER: 11101321) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE PERIOD 1 JULY 2022 TO 31 OCTOBER 2023 |
9. | SECURED DEBTS |
The following secured debts are included within creditors: |
2023 | 2022 |
£ | £ |
Bank loans |
10. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
The following advances and credits to a director subsisted during the period ended 31 October 2023 and the year ended 30 June 2022: |
2023 | 2022 |
£ | £ |
Balance outstanding at start of period |
Amounts advanced |
Amounts repaid | ( |
) | ( |
) |
Amounts written off | - | - |
Amounts waived | - | - |
Balance outstanding at end of period | ( |
) |
Loans are unsecured, interest free and repayable on demand. |
11. | RELATED PARTY DISCLOSURES |
During the period, total dividends of £26,368 were paid to the directors . |
Intercompany Account |
During the period the company borrowed from Koru Connections Ltd, a company Mr & Mrs Cope, Directors, are also Directors of, an amount of £1,344 (2022 £103). The loan was repaid in January 2024. |
12. | BOUNCE BACK LOAN |
The Company took a bounce back loan guaranteed by the Government. The loan is payable over 6 years with no repayments in the first year. The interest rate is 2.5%. |