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REGISTERED NUMBER: 10177241 (England and Wales)













Unaudited Financial Statements

for the Year Ended 31 May 2024

for

FOURWAYS LAND AND PROPERTY LTD

FOURWAYS LAND AND PROPERTY LTD (REGISTERED NUMBER: 10177241)






Contents of the Financial Statements
FOR THE YEAR ENDED 31 MAY 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


FOURWAYS LAND AND PROPERTY LTD

Company Information
FOR THE YEAR ENDED 31 MAY 2024







Directors: Mr P Cox
Mr N Molyneux
Mr H M Touhey





Registered office: 1st Floor
Waterside House
Waterside Drive
Wigan
Greater Manchester
WN3 5AZ





Registered number: 10177241 (England and Wales)





Accountants: NRB
1st Floor Waterside House
Waterside Drive
Wigan
Lancashire
WN3 5AZ

FOURWAYS LAND AND PROPERTY LTD (REGISTERED NUMBER: 10177241)

Balance Sheet
31 MAY 2024

31.5.24 31.5.23
Notes £    £    £    £   
FIXED ASSETS
Investment property 4 300,000 146,331

CURRENT ASSETS
Cash at bank 13,071 12,211

CREDITORS
Amounts falling due within one year 5 130,245 130,563
NET CURRENT LIABILITIES (117,174 ) (118,352 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

182,826

27,979

CREDITORS
Amounts falling due after more than one year 6 (37,721 ) (46,034 )

PROVISIONS FOR LIABILITIES 8 (37,210 ) -
NET ASSETS/(LIABILITIES) 107,895 (18,055 )

CAPITAL AND RESERVES
Called up share capital 9 60 60
Fair value reserve 10 116,459 -
Retained earnings (8,624 ) (18,115 )
SHAREHOLDERS' FUNDS 107,895 (18,055 )

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.

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 14 February 2025 and were signed on its behalf by:




Mr H M Touhey - Director


FOURWAYS LAND AND PROPERTY LTD (REGISTERED NUMBER: 10177241)

Notes to the Financial Statements
FOR THE YEAR ENDED 31 MAY 2024

1. STATUTORY INFORMATION

Fourways Land And Property Ltd 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 property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

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 3 (2023 - 3 ) .

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 June 2023 146,331
Revaluations 153,669
At 31 May 2024 300,000
NET BOOK VALUE
At 31 May 2024 300,000
At 31 May 2023 146,331

FOURWAYS LAND AND PROPERTY LTD (REGISTERED NUMBER: 10177241)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 31 MAY 2024

4. INVESTMENT PROPERTY - continued

Fair value at 31 May 2024 is represented by:
£   
Valuation in 2024 300,000

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.24 31.5.23
£    £   
Bank loans and overdrafts 3,584 3,584
Trade creditors - 2
Other creditors 126,661 126,977
130,245 130,563

6. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.5.24 31.5.23
£    £   
Bank loans 37,721 46,034

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 23,385 31,698

7. SECURED DEBTS

The following secured debts are included within creditors:

31.5.24 31.5.23
£    £   
Bank loans 41,305 49,618

The bank loan is secured against the investment property.

8. PROVISIONS FOR LIABILITIES
31.5.24 31.5.23
£    £   
Deferred tax 37,210 -

Deferred
tax
£   
Provided during year 37,210
Balance at 31 May 2024 37,210

FOURWAYS LAND AND PROPERTY LTD (REGISTERED NUMBER: 10177241)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 31 MAY 2024

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.5.24 31.5.23
value: £    £   
10 A Ordinary £1 10 10
10 B Ordinary £1 10 10
10 C Ordinary £1 10 10
10 D Ordinary £1 10 10
10 E Ordinary £1 10 10
10 F Ordinary £1 10 10
60 60

10. RESERVES
Fair
value
reserve
£   
Transfer to fair value reserve 153,669
Deferred tax on fair value (37,210 )

At 31 May 2024 116,459