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REGISTERED NUMBER: 04365279 (England and Wales)












THAT WAY LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2024






THAT WAY LIMITED (REGISTERED NUMBER: 04365279)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 5


THAT WAY LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 JANUARY 2024







DIRECTORS: Mrs H Jenkins
M A Jenkins





SECRETARY: M A Jenkins





REGISTERED OFFICE: Highland House
Mayflower Close
Chandlers Ford
Eastleigh
Hampshire
SO53 4AR





REGISTERED NUMBER: 04365279 (England and Wales)

THAT WAY LIMITED (REGISTERED NUMBER: 04365279)

BALANCE SHEET
31 JANUARY 2024

2024 2023
Notes £ £
FIXED ASSETS
Tangible assets 4 3,126 3,581

CURRENT ASSETS
Stocks 4,639 -
Debtors 5 1,112 354
Cash in hand 100 100
5,851 454
CREDITORS
Amounts falling due within one year 6 (142,510 ) (62,187 )
NET CURRENT LIABILITIES (136,659 ) (61,733 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(133,533

)

(58,152

)

CREDITORS
Amounts falling due after more than one year 7 (14,703 ) (24,975 )
NET LIABILITIES (148,236 ) (83,127 )

CAPITAL AND RESERVES
Called up share capital 4 4
Retained earnings (148,240 ) (83,131 )
SHAREHOLDERS' FUNDS (148,236 ) (83,127 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 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.

THAT WAY LIMITED (REGISTERED NUMBER: 04365279)

BALANCE SHEET - continued
31 JANUARY 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 Statement of Income and Retained Earnings has not been delivered.

THAT WAY LIMITED (REGISTERED NUMBER: 04365279)

BALANCE SHEET - continued
31 JANUARY 2024



The financial statements were approved by the Board of Directors and authorised for issue on 18 June 2024 and were signed on its behalf by:





M A Jenkins - Director


THAT WAY LIMITED (REGISTERED NUMBER: 04365279)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024


1. STATUTORY INFORMATION

That Way 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 FRS102 "The Financial Reporting Standards applicable in the UK and Republic of Ireland" ("FRS 102") and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The disclosure requirements of section 1A of FRS102 have been applied other than where additional disclosure is required to show a true and far view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £1.

The financial statements have been prepared under the historical cost convention, modified to include certain financial instruments at fair value. The principal accounting policies adopted are set out below.

Going concern
At the balance sheet date the company has net liabilities, and is dependent upon the support of its directors to continue trading. The directors have indicated that their support will continue for a period of at least 12 months from the date of signing these financial statements, and as such the going concern basis has been used.

Turnover and long term contracts
Revenue from long term contracts is recognised by reference to the stage of completion of the contract. The stage of completion is determined by the amount of progress made on the work relating to the next stage payment which is determined by the contract wording. A prudent level of profit attributable to the contract activity is recognised if the final outcome of such contracts can be reliably assessed. An expectant loss on a contract is recognised immediately in the profit and loss account and included in provisions for liabilities and charges. Payments received in excess of contract progress are shown in creditors, and the amount by which turnover is in excess of payments on account is included within debtors.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Short leasehold - Straight line over 10 years
Plant and machinery - 25% Reducing balance
Fixtures and fittings - 25% Reducing balance

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset and is recognised in the income statement.

Work in progress
Work in progress is valued at the lower of cost and net realisable value.


THAT WAY LIMITED (REGISTERED NUMBER: 04365279)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2024


2. ACCOUNTING POLICIES - continued
Taxation
Taxation for the year 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 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.

Financial assets
The Company has elected to apply the provision of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments.

Financial assets are recognised in the company's statement of financial position when the company becomes party to the contractual provisions of the instrument.

Basic financial assets, which include trade and other receivables and cash and bank balances are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method, unless the arrangement constitutes a financial transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Financial liabilities
Basic financial liabilities which include trade and other payables, are initially measured at transaction price and subsequently measured at amortised cost, unless the arrangement constitutes a financing transaction where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest.

Equity instruments
Equity instruments issued by the company are recorded at the fair value of the proceeds received net of direct issue costs. Dividend's payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

THAT WAY LIMITED (REGISTERED NUMBER: 04365279)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2024


4. TANGIBLE FIXED ASSETS
Fixtures
Short Plant and and
leasehold machinery fittings Totals
£ £ £ £
COST
At 1 February 2023
and 31 January 2024 4,400 5,444 932 10,776
DEPRECIATION
At 1 February 2023 880 5,403 912 7,195
Charge for year 440 10 5 455
At 31 January 2024 1,320 5,413 917 7,650
NET BOOK VALUE
At 31 January 2024 3,080 31 15 3,126
At 31 January 2023 3,520 41 20 3,581

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£ £
Other debtors 1,112 354

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£ £
Bank loans and overdrafts 19,871 12,552
Trade creditors 3,255 518
Taxation and social security 279 2,163
Other creditors 119,105 46,954
142,510 62,187

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£ £
Bank loans 14,703 24,975