Caseware UK (AP4) 2023.0.135 2023.0.135 false2023-02-010false0No description of principal activitytrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 13136668 2023-02-01 2024-01-31 13136668 2022-02-01 2023-01-31 13136668 2024-01-31 13136668 2023-01-31 13136668 c:Director1 2023-02-01 2024-01-31 13136668 d:FreeholdInvestmentProperty 2023-02-01 2024-01-31 13136668 d:FreeholdInvestmentProperty 2024-01-31 13136668 d:FreeholdInvestmentProperty 2023-01-31 13136668 d:CurrentFinancialInstruments 2024-01-31 13136668 d:CurrentFinancialInstruments 2023-01-31 13136668 d:CurrentFinancialInstruments d:WithinOneYear 2024-01-31 13136668 d:CurrentFinancialInstruments d:WithinOneYear 2023-01-31 13136668 d:ShareCapital 2024-01-31 13136668 d:ShareCapital 2023-01-31 13136668 d:RetainedEarningsAccumulatedLosses 2024-01-31 13136668 d:RetainedEarningsAccumulatedLosses 2023-01-31 13136668 c:FRS102 2023-02-01 2024-01-31 13136668 c:AuditExempt-NoAccountantsReport 2023-02-01 2024-01-31 13136668 c:FullAccounts 2023-02-01 2024-01-31 13136668 c:PrivateLimitedCompanyLtd 2023-02-01 2024-01-31 iso4217:GBP xbrli:pure

Registered number: 13136668










FIRSTWAY DEVELOPMENTS LTD








Unaudited

Financial statements

Information for filing with the registrar

For the Year Ended 31 January 2024

 
FIRSTWAY DEVELOPMENTS LTD
Registered number: 13136668

Balance sheet
As at 31 January 2024

2024
2023
Note
£
£

Fixed assets
  

Investment property
 4 
2,565,216
1,778,591

  
2,565,216
1,778,591

Current assets
  

Debtors: amounts falling due within one year
  
50,000
50,000

Cash at bank and in hand
 6 
462
2,130

  
50,462
52,130

Creditors: amounts falling due within one year
 7 
(3,040,472)
(2,000,440)

Net current liabilities
  
 
 
(2,990,010)
 
 
(1,948,310)

Total assets less current liabilities
  
(424,794)
(169,719)

  

Net liabilities
  
(424,794)
(169,719)


Capital and reserves
  

Called up share capital 
  
1
1

Profit and loss account
  
(424,795)
(169,720)

  
(424,794)
(169,719)


The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 1 October 2024.



Page 1

 
FIRSTWAY DEVELOPMENTS LTD
Registered number: 13136668
    
Balance sheet (continued)
As at 31 January 2024


Mr M Moskovits
Director

The notes on pages 3 to 5 form part of these financial statements.

Page 2

 
FIRSTWAY DEVELOPMENTS LTD
 
 
 
Notes to the financial statements
For the Year Ended 31 January 2024

1.


General information

Firstway Developments Ltd is a private company limited by shares and registered in England and Wales. The registered address is at 102 Wargrave Avenue, London, N15 6UA.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
2.3

Investment property

Investment property is carried at fair value determined annually by external valuers and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in profit or loss.


3.


Employees

The average monthly number of employees, including directors, during the year was 0 (2023 - 0).

Page 3

 
FIRSTWAY DEVELOPMENTS LTD
 
 
 
Notes to the financial statements
For the Year Ended 31 January 2024

4.


Investment property


Freehold investment property

£



Valuation


At 1 February 2023
1,778,591


Additions at cost
786,625



At 31 January 2024
2,565,216

The 2024 valuations were made by the director, on an open market value for existing use basis.





If the Investment properties had been accounted for under the historic cost accounting rules, the properties would have been measured as follows:

2024
2023
£
£


Historic cost
2,565,216
1,778,591

2,565,216
1,778,591


5.


Debtors

2024
2023
£
£


Other debtors
50,000
50,000

50,000
50,000



6.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
462
2,130

462
2,130


Page 4

 
FIRSTWAY DEVELOPMENTS LTD
 
 
 
Notes to the financial statements
For the Year Ended 31 January 2024

7.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank loans
1,420,983
798,195

Other creditors
1,618,409
1,201,165

Accruals and deferred income
1,080
1,080

3,040,472
2,000,440


The following liabilities were secured:

2024
2023
£
£



Bank loans
1,420,983
798,195

1,420,983
798,195

Details of security provided:

Bank loans are secured by way of a fixed and floating charge over the company's property.

 
Page 5