Caseware UK (AP4) 2023.0.135 2023.0.135 2024-04-302024-04-3002023-05-01falseBuying and selling of real estate0truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 10103074 2023-05-01 2024-04-30 10103074 2022-05-01 2023-04-30 10103074 2024-04-30 10103074 2023-04-30 10103074 c:Director1 2023-05-01 2024-04-30 10103074 d:FreeholdInvestmentProperty 2024-04-30 10103074 d:FreeholdInvestmentProperty 2023-04-30 10103074 d:CurrentFinancialInstruments 2024-04-30 10103074 d:CurrentFinancialInstruments 2023-04-30 10103074 d:Non-currentFinancialInstruments 2024-04-30 10103074 d:Non-currentFinancialInstruments 2023-04-30 10103074 d:CurrentFinancialInstruments d:WithinOneYear 2024-04-30 10103074 d:CurrentFinancialInstruments d:WithinOneYear 2023-04-30 10103074 d:Non-currentFinancialInstruments d:AfterOneYear 2024-04-30 10103074 d:Non-currentFinancialInstruments d:AfterOneYear 2023-04-30 10103074 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2024-04-30 10103074 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2023-04-30 10103074 d:Non-currentFinancialInstruments d:MoreThanFiveYears 2024-04-30 10103074 d:Non-currentFinancialInstruments d:MoreThanFiveYears 2023-04-30 10103074 d:ShareCapital 2024-04-30 10103074 d:ShareCapital 2023-04-30 10103074 d:RetainedEarningsAccumulatedLosses 2024-04-30 10103074 d:RetainedEarningsAccumulatedLosses 2023-04-30 10103074 c:FRS102 2023-05-01 2024-04-30 10103074 c:AuditExemptWithAccountantsReport 2023-05-01 2024-04-30 10103074 c:FullAccounts 2023-05-01 2024-04-30 10103074 c:PrivateLimitedCompanyLtd 2023-05-01 2024-04-30 10103074 2 2023-05-01 2024-04-30 10103074 e:PoundSterling 2023-05-01 2024-04-30 iso4217:GBP xbrli:pure

Registered number: 10103074









QUADWAY DEVELOPMENTS LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 30 APRIL 2024

 
QUADWAY DEVELOPMENTS LIMITED
 
 
  
CHARTERED ACCOUNTANTS' REPORT TO THE DIRECTOR ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF QUADWAY DEVELOPMENTS LIMITED
FOR THE YEAR ENDED 30 APRIL 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Quadway Developments Limited for the year ended 30 April 2024 which comprise  the Balance sheet and the related notes from the Company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW)we are subject to its ethical and other professional requirements which are detailed at https://www.icaew.com /regulation.

This report is made solely to the director of Quadway Developments Limited in accordance with the terms of our engagement letter dated 07 December 2021Our work has been undertaken solely to prepare for your approval the financial statements of Quadway Developments Limited and state those matters that we have agreed to state to the director of Quadway Developments Limited in this report in accordance with ICAEW Technical Release TECH07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Quadway Developments Limited and its director for our work or for this report. 

It is your duty to ensure that Quadway Developments Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Quadway Developments Limited. You consider that Quadway Developments Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or review of the financial statements of Quadway Developments Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

  



The Woodstock Accountancy Practice Limited
Chartered Accountants
3a Market Place
Woodstock
OX20 1SY
24 January 2025
Page 1

 
QUADWAY DEVELOPMENTS LIMITED
REGISTERED NUMBER: 10103074

BALANCE SHEET
AS AT 30 APRIL 2024

2024
2023
Note
£
£

Fixed assets
  

Investment property
 4 
298,038
298,038

  
298,038
298,038

Current assets
  

Cash at bank and in hand
 5 
1,700
1,781

  
1,700
1,781

Creditors: amounts falling due within one year
 6 
(48,517)
(34,097)

Net current liabilities
  
 
 
(46,817)
 
 
(32,316)

Total assets less current liabilities
  
251,221
265,722

Creditors: amounts falling due after more than one year
 7 
(187,286)
(202,289)

  

Net assets
  
63,935
63,433


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
63,835
63,333

  
63,935
63,433


Page 2

 
QUADWAY DEVELOPMENTS LIMITED
REGISTERED NUMBER: 10103074
    
BALANCE SHEET (CONTINUED)
AS AT 30 APRIL 2024

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 her 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 income and retained earnings 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 24 January 2025.



E Finneron
Director

The notes on pages 4 to 7 form part of these financial statements.

Page 3

 
QUADWAY DEVELOPMENTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

1.


General information

Quadway Developments Limited, Company Registration Number 10103074
A company limited by shares and incorporated in England and Wales
Registered office address:
3a Market Place, Woodstock, Oxfordshire, OX20 1SY
The principal activity of the company continues to be that of buying and selling real estate.

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 FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.3

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

 
2.4

Interest income

Interest income is recognised in profit or loss using the effective interest method.

Page 4

 
QUADWAY DEVELOPMENTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

2.Accounting policies (continued)

 
2.5

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.6

Borrowing costs

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

 
2.7

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.


 
2.8

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.

 
2.9

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.10

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.


3.


Employees




The Company has no employees other than the directors, who did not receive any remuneration (2023 - £NIL).

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

Page 5

 
QUADWAY DEVELOPMENTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

4.


Investment property


Freehold investment property

£



Valuation


At 1 May 2023
298,038



At 30 April 2024
298,038

The 2022 valuations were made on an historic cost 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
298,038
298,038

298,038
298,038


5.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
1,700
1,781

1,700
1,781



6.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank loans
5,640
5,640

Amounts owed to group undertakings
9,050
-

Corporation tax
118
1,011

Other creditors
33,709
21,049

Accruals and deferred income
-
6,397

48,517
34,097


Page 6

 
QUADWAY DEVELOPMENTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

7.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Bank loans
187,286
202,289

187,286
202,289



8.


Loans


Analysis of the maturity of loans is given below:


2024
2023
£
£

Amounts falling due within one year

Bank loans
5,640
5,640


Amounts falling due 2-5 years

Bank loans
11,256
22,560

Amounts falling due after more than 5 years

Bank loans
176,030
179,729

192,926
207,929


 
Page 7