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REGISTERED NUMBER: 02975017 (England and Wales)






Unaudited Financial Statements

for the Year Ended 29th February 2024

for

FIVEWAY SYSTEMS LIMITED

FIVEWAY SYSTEMS LIMITED (REGISTERED NUMBER: 02975017)






Contents of the Financial Statements
for the Year Ended 29th February 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


FIVEWAY SYSTEMS LIMITED

Company Information
for the Year Ended 29th February 2024







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
29th February 2024

2023 2024
£    £    Notes £    £   
FIXED ASSETS
623,959 Tangible assets 4 587,520

CURRENT ASSETS
49,826 Stocks 62,600
511,603 Debtors 5 637,401
855,431 Cash at bank 881,380
1,416,860 1,581,381
CREDITORS
333,173 Amounts falling due within one year 6 473,349
1,083,687 NET CURRENT ASSETS 1,108,032

1,707,646
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,695,552

46,208 PROVISIONS FOR LIABILITIES 7 41,779
1,661,438 NET ASSETS 1,653,773

CAPITAL AND RESERVES
100 Called up share capital 8 100
1,661,338 Retained earnings 1,653,673
1,661,438 SHAREHOLDERS' FUNDS 1,653,773

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29th February 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 29th February 2024 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
29th February 2024


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 15th August 2024 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 29th February 2024

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 19 (2023 - 16 ) .

FIVEWAY SYSTEMS LIMITED (REGISTERED NUMBER: 02975017)

Notes to the Financial Statements - continued
for the Year Ended 29th February 2024

4. TANGIBLE FIXED ASSETS
Freehold Plant and Motor Computer
Totals property machinery vehicles equipment
£    £    £    £    £   
Cost
At 1st March 2023 1,033,013 487,807 56,572 383,869 104,765
Additions 25,382 - 5,498 17,200 2,684
At 29th February 2024 1,058,395 487,807 62,070 401,069 107,449
Depreciation
At 1st March 2023 409,054 62,877 55,571 191,270 99,336
Charge for year 61,821 4,577 250 54,312 2,682
At 29th February 2024 470,875 67,454 55,821 245,582 102,018
Net book value
At 29th February 2024 587,520 420,353 6,249 155,487 5,431
At 28th February 2023 623,959 424,930 1,001 192,599 5,429

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 564,462 498,049
Other debtors 52,500 -
Prepayments and accrued income 20,439 13,554
637,401 511,603

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 277,295 237,498
Corporation tax 17,010 (3,481 )
Social security and other taxes 33,326 18,473
VAT 70,363 55,930
Other creditors 31,012 410
Directors' current accounts 1 -
Accruals and deferred income 44,342 24,343
473,349 333,173

7. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax
Accelerated capital allowances 41,779 46,208

FIVEWAY SYSTEMS LIMITED (REGISTERED NUMBER: 02975017)

Notes to the Financial Statements - continued
for the Year Ended 29th February 2024

7. PROVISIONS FOR LIABILITIES - continued

Deferred
tax
£   
Balance at 1st March 2023 46,208
Provided during year (4,429 )
Balance at 29th February 2024 41,779

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
100 Ordinary 1 100 100