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REGISTERED NUMBER: 01370019 (England and Wales)















FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2024

FOR

FOODWAY LIMITED

FOODWAY LIMITED (REGISTERED NUMBER: 01370019)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST MARCH 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


FOODWAY LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31ST MARCH 2024







DIRECTORS: K B Patel
N B Patel



REGISTERED OFFICE: 18 Cleveland Gardens
Worcester Park
Surrey
KT4 7JJ



REGISTERED NUMBER: 01370019 (England and Wales)



BANKERS: Barclays Bank Plc
P O Box 3
Croydon
Surrey
CR9 1UF

FOODWAY LIMITED (REGISTERED NUMBER: 01370019)

BALANCE SHEET
31ST MARCH 2024

2024 2023
Notes £    £   
FIXED ASSETS
Investment property 4 12,446,763 12,446,763

CURRENT ASSETS
Debtors 5 572,927 327,487
Cash at bank 206,195 428,579
779,122 756,066
CREDITORS
Amounts falling due within one year 6 (202,385 ) (154,013 )
NET CURRENT ASSETS 576,737 602,053
TOTAL ASSETS LESS CURRENT
LIABILITIES

13,023,500

13,048,816

CREDITORS
Amounts falling due after more than one
year

7

(3,012,902

)

(3,022,774

)

PROVISIONS FOR LIABILITIES 9 (1,793,575 ) (1,793,575 )
NET ASSETS 8,217,023 8,232,467

CAPITAL AND RESERVES
Called up share capital 10 10,000 10,000
Fair value reserve 11 7,045,070 7,045,070
Retained earnings 11 1,161,953 1,177,397
SHAREHOLDERS' FUNDS 8,217,023 8,232,467

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

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

FOODWAY LIMITED (REGISTERED NUMBER: 01370019)

BALANCE SHEET - continued
31ST MARCH 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 26th November 2024 and were signed on its behalf by:




K B Patel - Director



N B Patel - Director


FOODWAY LIMITED (REGISTERED NUMBER: 01370019)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST MARCH 2024

1. STATUTORY INFORMATION

Foodway 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.

Investment property
Investment properties are revalued annually and any surplus or deficit is shown in the profit and loss account. No depreciation is provided in respect of investment properties.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2023 - 4 ) .

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1st April 2023
and 31st March 2024 12,446,763
NET BOOK VALUE
At 31st March 2024 12,446,763
At 31st March 2023 12,446,763

FOODWAY LIMITED (REGISTERED NUMBER: 01370019)

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

4. INVESTMENT PROPERTY - continued



Fair value at 31st March 2024 is represented by:
£   
Valuation in 2023 8,838,645
Cost 3,608,118
12,446,763

Investment properties were valued on an open market basis on 31st March 2024 by Nalin Patel the director.

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other debtors and prepayments 141,326 84,800
Foodway Holdings Limited 28,569 -
Directors' current accounts 403,032 242,687
572,927 327,487

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 10,781 10,781
Tax 151,375 102,346
Social security and other taxes 11,065 22,939
Other creditors and accruals 29,164 17,947
202,385 154,013

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans - over 5 years 3,012,902 3,022,774

Amounts falling due in more than five years:

Repayable by instalments
Bank loans - over 5 years 3,012,902 3,022,774

8. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 3,023,683 3,033,555

Barclays Bank holds legal charges over the Company's freehold assets.

FOODWAY LIMITED (REGISTERED NUMBER: 01370019)

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

9. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred taxation 1,793,575 1,793,575

Deferred
tax
£   
Balance at 1st April 2023 1,793,575
Balance at 31st March 2024 1,793,575

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
10,000 Ordinary £1 10,000 10,000

11. RESERVES
Fair
Retained value
earnings reserve Totals
£    £    £   

At 1st April 2023 1,177,397 7,045,070 8,222,467
Profit for the year 109,556 109,556
Dividends (125,000 ) (125,000 )
At 31st March 2024 1,161,953 7,045,070 8,207,023

12. RELATED PARTY DISCLOSURES

At the year end director Nalin Patel owed the company £164,578 (2023 £121,344) and Kaushik Patel owed the company £238,454 (2023 £121,343).