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REGISTERED NUMBER: 05452270 (England and Wales)


















BYEWAY LIMITED
TRADING AS
SILVER DRAGON

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2024






BYEWAY LIMITED (REGISTERED NUMBER: 05452270)
TRADING AS SILVER DRAGON

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










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


BYEWAY LIMITED
TRADING AS SILVER DRAGON

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MAY 2024







DIRECTORS: M W K Cheung
M K Cheung





SECRETARY: M K Cheung





REGISTERED OFFICE: Elfed House
Oak Tree Court,Mulberry Drive
Cardiff Gate Business Park
CARDIFF
CF23 8RS





REGISTERED NUMBER: 05452270 (England and Wales)





ACCOUNTANTS: MHA (trading name of MacIntyre Hudson LLP)
Limited liability partnership in England & Wales
Registered number OC312313
Elfed House
Oak Tree Court
Cardiff Gate Business Park
CARDIFF
County of Cardiff
CF23 8RS

BYEWAY LIMITED (REGISTERED NUMBER: 05452270)
TRADING AS SILVER DRAGON

BALANCE SHEET
31 MAY 2024

2024 2023
Notes £    £   
FIXED ASSETS
Intangible assets 4 1,560 3,128
Tangible assets 5 347 435
1,907 3,563

CURRENT ASSETS
Stocks 840 840
Debtors 6 209 6,693
Cash at bank 10,399 6,427
11,448 13,960
CREDITORS
Amounts falling due within one year 7 (9,389 ) (7,551 )
NET CURRENT ASSETS 2,059 6,409
TOTAL ASSETS LESS CURRENT
LIABILITIES

3,966

9,972

CREDITORS
Amounts falling due after more than one
year

8

(6,667

)

(8,667

)

PROVISIONS FOR LIABILITIES (67 ) (83 )
NET (LIABILITIES)/ASSETS (2,768 ) 1,222

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings (2,770 ) 1,220
SHAREHOLDERS' FUNDS (2,768 ) 1,222

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

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

BYEWAY LIMITED (REGISTERED NUMBER: 05452270)
TRADING AS SILVER DRAGON

BALANCE SHEET - continued
31 MAY 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 Profit and loss account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 24 February 2025 and were signed on its behalf by:





M W K Cheung - Director


BYEWAY LIMITED (REGISTERED NUMBER: 05452270)
TRADING AS SILVER DRAGON

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


1. STATUTORY INFORMATION

Byeway 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.

The company's functional and presentational currency in the financial statements is Sterling (£), rounded to the nearest pound.

The significant accounting policies applied in the presentation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

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.

There have been no material departures from Financial Reporting Standard 102 1A.

Turnover
Turnover represents shop takings received during the year.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2003, is being amortised evenly over its estimated useful life of twenty years.

Based on the performance of the company since acquisition, the directors consider that the useful economic life of goodwill is still valid.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and Fittings - 20% on reducing balance

Stocks
Stocks are estimated by the directors.

Current tax
Current tax represents the amount expected to be paid or recovered in respect of taxable profits for the year and is calculated using the tax rates and laws that have been enacted or substantively enacted at 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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

BYEWAY LIMITED (REGISTERED NUMBER: 05452270)
TRADING AS SILVER DRAGON

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


2. ACCOUNTING POLICIES - continued

Employee benefits
When the employees have rendered service to the company, short-term employee benefits to which the employees are entitled are recognised at the undiscounted amount expected to be paid in exchange for that service.

Non-derivative financial statements
Basic financial instruments are recognised at amortised cost.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2023 - 3 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 June 2023
and 31 May 2024 31,350
AMORTISATION
At 1 June 2023 28,222
Amortisation for year 1,568
At 31 May 2024 29,790
NET BOOK VALUE
At 31 May 2024 1,560
At 31 May 2023 3,128

5. TANGIBLE FIXED ASSETS
Fixtures
and
Fittings
£   
COST
At 1 June 2023
and 31 May 2024 3,813
DEPRECIATION
At 1 June 2023 3,378
Charge for year 88
At 31 May 2024 3,466
NET BOOK VALUE
At 31 May 2024 347
At 31 May 2023 435

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Director's current account - 6,693
Prepayments and accrued income 209 -
209 6,693

BYEWAY LIMITED (REGISTERED NUMBER: 05452270)
TRADING AS SILVER DRAGON

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


7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 4,000 4,000
Corporation tax 1,021 592
Director's current account 544 -
Creditors and accruals 3,824 2,959
9,389 7,551

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans - 2-5 years 6,667 8,667

9. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 May 2024 and 31 May 2023:

2024 2023
£    £   
M W K Cheung
Balance outstanding at start of year 6,693 3,112
Amounts advanced - 14,679
Amounts repaid (6,693 ) (11,098 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - 6,693

Interest is charged at a commercial rate on overdrawn balances in excess of £10,000. Overdrawn balances are repayable within nine months of the balance sheet date.