2 30/04/2023 2023-04-30 false false false false false false false false false false true false false true false false false false false true false No description of principal activities is disclosed 2022-05-01 Sage Accounts Production 21.0 - FRS102_2021 xbrli:pure xbrli:shares iso4217:GBP 02788525 2022-05-01 2023-04-30 02788525 2023-04-30 02788525 2022-04-30 02788525 2021-05-01 2022-04-30 02788525 2022-04-30 02788525 bus:RegisteredOffice 2022-05-01 2023-04-30 02788525 bus:LeadAgentIfApplicable 2022-05-01 2023-04-30 02788525 bus:Director1 2022-05-01 2023-04-30 02788525 bus:CompanySecretary1 2022-05-01 2023-04-30 02788525 core:PlantMachinery 2022-04-30 02788525 core:FurnitureFittingsToolsEquipment 2022-04-30 02788525 core:PlantMachinery 2023-04-30 02788525 core:FurnitureFittingsToolsEquipment 2023-04-30 02788525 core:WithinOneYear 2023-04-30 02788525 core:WithinOneYear 2022-04-30 02788525 core:ShareCapital 2023-04-30 02788525 core:ShareCapital 2022-04-30 02788525 core:RetainedEarningsAccumulatedLosses 2023-04-30 02788525 core:RetainedEarningsAccumulatedLosses 2022-04-30 02788525 core:PlantMachinery 2022-05-01 2023-04-30 02788525 core:FurnitureFittingsToolsEquipment 2022-05-01 2023-04-30 02788525 core:PlantMachinery 2022-04-30 02788525 core:FurnitureFittingsToolsEquipment 2022-04-30 02788525 bus:Director1 2022-04-30 02788525 bus:Director1 2023-04-30 02788525 bus:Director1 2021-04-30 02788525 bus:Director1 2022-04-30 02788525 bus:Director1 2021-05-01 2022-04-30 02788525 bus:SmallEntities 2022-05-01 2023-04-30 02788525 bus:AuditExemptWithAccountantsReport 2022-05-01 2023-04-30 02788525 bus:FullAccounts 2022-05-01 2023-04-30 02788525 bus:SmallCompaniesRegimeForAccounts 2022-05-01 2023-04-30 02788525 bus:PrivateLimitedCompanyLtd 2022-05-01 2023-04-30
Company registration number: 02788525
Bilway Limited
Unaudited filleted financial statements
30 April 2023
Bilway Limited
Contents
Directors and other information
Accountants report
Statement of financial position
Notes to the financial statements
Bilway Limited
Directors and other information
Director Mr S J Ingram
Secretary L Robinson
Company number 02788525
Registered office 45/49 Greek Street
Stockport
Cheshire
SK3 8AX
Business address Lockmasters Office
Irlam Locks
Cadishead Way
Manchester
M40 5DM
Accountants Downham Morris & Co
45/49 Greek Street
Cheshire
SK3 8AX
Bankers NatWest Bank Plc
49 Church Street
Eccles
M30 0AF
Bilway Limited
Chartered certified accountants report to the director on the preparation of the
unaudited statutory financial statements of Bilway Limited
Year ended 30th April 2023
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Bilway Limited for the year ended 30th April 2023 which comprise the statement of financial position and related notes from the company's accounting records and from information and explanations you have given us.
As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/en/member/ professional-standards/ rules-standards/acca-rulebook.html.
This report is made solely to the director of Bilway Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the financial statements of Bilway Limited and state those matters that we have agreed to state to them, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/content/dam/ACCA_Global/Technical/fact/technical-factsheet-163.pdf. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Bilway Limited and its director as a body for our work or for this report.
It is your duty to ensure that Bilway Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Bilway Limited. You consider that Bilway Limited is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the financial statements of Bilway Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
Downham Morris & Co
Chartered Certified Accountants
45/49 Greek Street
Cheshire
SK3 8AX
13th February 2024
Bilway Limited
Statement of financial position
30th April 2023
2023 2022
Note £ £ £ £
Fixed assets
Tangible assets 5 8,407 9,341
_______ _______
8,407 9,341
Current assets
Debtors 6 1,445,438 1,243,971
Investments 7 218,360 218,360
Cash at bank and in hand 261,500 264,080
_______ _______
1,925,298 1,726,411
Creditors: amounts falling due
within one year 8 ( 122,630) ( 116,875)
_______ _______
Net current assets 1,802,668 1,609,536
_______ _______
Total assets less current liabilities 1,811,075 1,618,877
_______ _______
Net assets 1,811,075 1,618,877
_______ _______
Capital and reserves
Called up share capital 2 2
Profit and loss account 1,811,073 1,618,875
_______ _______
Shareholders funds 1,811,075 1,618,877
_______ _______
For the year ending 30 April 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 their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
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 comprehensive income has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 13 February 2024 , and are signed on behalf of the board by:
.........................
Mr S J Ingram
Director
Company registration number: 02788525
Bilway Limited
Notes to the financial statements
Year ended 30th April 2023
1. General information
The company is a private company limited by shares, registered in England. The address of the registered office is 45/49 Greek Street, Stockport, Cheshire, SK3 8AX.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and 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.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Tangible assets
tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in capital and reserves, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.
Financial instruments
A financial asset or a financial liability is recognised only when the company 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.
Debt instruments are subsequently measured at amortised cost.
For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets or either assessed individually or grouped on the basis of similar credit risk characteristics.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 2 (2022: 2 ).
5. Tangible assets
Plant and machinery Fixtures, fittings and equipment Total
£ £ £
Cost
At 1st May 2022 and 30th April 2023 18,323 19,360 37,683
_______ _______ _______
Depreciation
At 1st May 2022 13,176 15,165 28,341
Charge for the year 515 420 935
_______ _______ _______
At 30th April 2023 13,691 15,585 29,276
_______ _______ _______
Carrying amount
At 30th April 2023 4,632 3,775 8,407
_______ _______ _______
At 30th April 2022 5,147 4,195 9,342
_______ _______ _______
6. Debtors
2023 2022
£ £
Trade debtors 7,999 75,188
Other debtors 1,437,439 1,168,783
_______ _______
1,445,438 1,243,971
_______ _______
7. Investments
2023 2022
£ £
Other investments 218,360 218,360
_______ _______
8. Creditors: amounts falling due within one year
2023 2022
£ £
Corporation tax 46,926 47,088
Social security and other taxes 29,591 32,181
Other creditors 46,113 37,606
_______ _______
122,630 116,875
_______ _______
9. Directors advances, credits and guarantees
During the year the director entered into the following advances and credits with the company:
2023
Balance brought forward Advances /(credits) to the director Amounts repaid Balance o/standing
£ £ £ £
Mr S J Ingram ( 32,769) ( 47,849) 39,772 ( 40,846)
_______ _______ _______ _______
2022
Balance brought forward Advances /(credits) to the director Amounts repaid Balance o/standing
£ £ £ £
Mr S J Ingram ( 47,797) ( 37,850) 52,878 ( 32,769)
_______ _______ _______ _______
No interest is charged on loans with directors and loans are repayable on demand.
10. Related party transactions
During the year, the company voted dividends to the director totalling £- (2022: £7,250).
11. Controlling party
The company is under the control of its director by virtue of his shareholding.