IRIS Accounts Production v24.1.9.2 03615769 Board of Directors 1.9.23 30.6.24 30.6.24 false true false false true false Fair value model iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh036157692023-08-31036157692024-06-30036157692023-09-012024-06-30036157692022-08-31036157692022-09-012023-08-31036157692023-08-3103615769ns15:EnglandWales2023-09-012024-06-3003615769ns14:PoundSterling2023-09-012024-06-3003615769ns10:Director12023-09-012024-06-3003615769ns10:PrivateLimitedCompanyLtd2023-09-012024-06-3003615769ns10:SmallEntities2023-09-012024-06-3003615769ns10:AuditExempt-NoAccountantsReport2023-09-012024-06-3003615769ns10:SmallCompaniesRegimeForDirectorsReport2023-09-012024-06-3003615769ns10:SmallCompaniesRegimeForAccounts2023-09-012024-06-3003615769ns10:FullAccounts2023-09-012024-06-3003615769ns10:Director22023-09-012024-06-3003615769ns10:CompanySecretary12023-09-012024-06-3003615769ns10:RegisteredOffice2023-09-012024-06-3003615769ns5:CurrentFinancialInstruments2024-06-3003615769ns5:CurrentFinancialInstruments2023-08-3103615769ns5:ShareCapital2024-06-3003615769ns5:ShareCapital2023-08-3103615769ns5:RetainedEarningsAccumulatedLosses2024-06-3003615769ns5:RetainedEarningsAccumulatedLosses2023-08-3103615769ns5:MotorVehicles2023-09-012024-06-3003615769ns5:ComputerEquipment2023-09-012024-06-3003615769ns5:MotorVehicles2023-08-3103615769ns5:ComputerEquipment2023-08-3103615769ns5:MotorVehicles2024-06-3003615769ns5:ComputerEquipment2024-06-3003615769ns5:MotorVehicles2023-08-3103615769ns5:ComputerEquipment2023-08-3103615769ns5:CurrentFinancialInstrumentsns5:WithinOneYear2024-06-3003615769ns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-08-31
REGISTERED NUMBER: 03615769 (England and Wales)
















Unaudited Financial Statements

for the Period 1st September 2023 to 30th June 2024

for

SEARCHWAY ASSOCIATES LIMITED

SEARCHWAY ASSOCIATES LIMITED (REGISTERED NUMBER: 03615769)






Contents of the Financial Statements
for the Period 1st September 2023 to 30th June 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


SEARCHWAY ASSOCIATES LIMITED

Company Information
for the Period 1st September 2023 to 30th June 2024







DIRECTORS: K M Murphy
Mrs C J Murphy





SECRETARY: Mrs C J Murphy





REGISTERED OFFICE: 38 Salisbury Road
Worthing
West Sussex
BN11 1RD





REGISTERED NUMBER: 03615769 (England and Wales)





ACCOUNTANTS: MastersFuller
Chartered Certified Accountants
38 Salisbury Road
Worthing
West Sussex
BN11 1RD

SEARCHWAY ASSOCIATES LIMITED (REGISTERED NUMBER: 03615769)

Balance Sheet
30th June 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 25,993 1,278
Investment property 5 1,609,000 1,634,000
1,634,993 1,635,278

CURRENT ASSETS
Debtors 6 16,652 15,636
Investments 7 101,228 -
Cash at bank 167,500 215,405
285,380 231,041
CREDITORS
Amounts falling due within one year 8 50,718 38,115
NET CURRENT ASSETS 234,662 192,926
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,869,655

1,828,204

PROVISIONS FOR LIABILITIES 95,793 94,877
NET ASSETS 1,773,862 1,733,327

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 1,773,762 1,733,227
SHAREHOLDERS' FUNDS 1,773,862 1,733,327

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 30th June 2024.

The members have not required the company to obtain an audit of its financial statements for the period ended 30th June 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.

SEARCHWAY ASSOCIATES LIMITED (REGISTERED NUMBER: 03615769)

Balance Sheet - continued
30th June 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 11th November 2024 and were signed on its behalf by:





K M Murphy - Director


SEARCHWAY ASSOCIATES LIMITED (REGISTERED NUMBER: 03615769)

Notes to the Financial Statements
for the Period 1st September 2023 to 30th June 2024

1. STATUTORY INFORMATION

Searchway Associates 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 as modified by the revaluation of certain assets.

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.
Motor vehicles - 25% on reducing balance
Office equipment - 33% on cost

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

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 period was 2 (2023 - 2 ) .

4. TANGIBLE FIXED ASSETS
Motor Office
vehicles equipment Totals
£    £    £   
COST
At 1st September 2023 - 3,580 3,580
Additions 25,820 1,752 27,572
At 30th June 2024 25,820 5,332 31,152
DEPRECIATION
At 1st September 2023 - 2,302 2,302
Charge for period 2,152 705 2,857
At 30th June 2024 2,152 3,007 5,159
NET BOOK VALUE
At 30th June 2024 23,668 2,325 25,993
At 31st August 2023 - 1,278 1,278

SEARCHWAY ASSOCIATES LIMITED (REGISTERED NUMBER: 03615769)

Notes to the Financial Statements - continued
for the Period 1st September 2023 to 30th June 2024

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1st September 2023 1,634,000
Additions 302
Revaluations (25,302 )
At 30th June 2024 1,609,000
NET BOOK VALUE
At 30th June 2024 1,609,000
At 31st August 2023 1,634,000

Fair value at 30th June 2024 is represented by:
£   
Valuation in 2016 362,226
Valuation in 2017 216,277
Valuation in 2018 (78,000 )
Valuation in 2019 (61,601 )
Valuation in 2020 28,000
Valuation in 2021 111,500
Valuation in 2022 53,500
Valuation in 2023 3,828
Valuation in 2024 (25,302 )
Cost 998,572
1,609,000

If investment property had not been revalued it would have been included at the following historical cost:

2024 2023
£    £   
Cost 998,270 998,270

Investment property was valued on an open market basis on 30th June 2024 by the directors .

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 11,411 12,486
Other debtors 5,241 3,150
16,652 15,636

7. CURRENT ASSET INVESTMENTS
2024 2023
£    £   
Bonds 101,228 -

SEARCHWAY ASSOCIATES LIMITED (REGISTERED NUMBER: 03615769)

Notes to the Financial Statements - continued
for the Period 1st September 2023 to 30th June 2024

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Corporation tax payable 18,118 19,050
PAYE - 170
VAT 12,536 5,937
Wages control 2,000 2,000
Directors' loan account 1,279 179
Accrued expenses 16,785 10,779
50,718 38,115