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REGISTERED NUMBER: 13611484 (England and Wales)















Financial Statements for the Year Ended 30th September 2024

for

City Way Developments Ltd

City Way Developments Ltd (Registered number: 13611484)

Contents of the Financial Statements
for the year ended 30th September 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


City Way Developments Ltd

Company Information
for the year ended 30th September 2024







DIRECTORS: D J Kennett
C J Allen
Ms E Tuffey





REGISTERED OFFICE: 1-3 Manor Road
Chatham
Kent
ME4 6AE





REGISTERED NUMBER: 13611484 (England and Wales)





ACCOUNTANTS: Beak Kemmenoe
Chartered Accountants
1-3 Manor Road
Chatham
Kent
ME4 6AE

City Way Developments Ltd (Registered number: 13611484)

Balance Sheet
30th September 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 16,025 17,717
Investment property 5 1,029,221 1,014,786
1,045,246 1,032,503

CURRENT ASSETS
Debtors 6 60 60
Cash at bank 2,279 465
2,339 525
CREDITORS
Amounts falling due within one year 7 475,285 483,015
NET CURRENT LIABILITIES (472,946 ) (482,490 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

572,300

550,013

CREDITORS
Amounts falling due after more than one
year

8

(521,521

)

(537,147

)

PROVISIONS FOR LIABILITIES (3,045 ) (3,366 )
NET ASSETS 47,734 9,500

CAPITAL AND RESERVES
Called up share capital 90 90
Retained earnings 47,644 9,410
47,734 9,500

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

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

City Way Developments Ltd (Registered number: 13611484)

Balance Sheet - continued
30th September 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 7th March 2025 and were signed on its behalf by:





D J Kennett - Director


City Way Developments Ltd (Registered number: 13611484)

Notes to the Financial Statements
for the year ended 30th September 2024


1. STATUTORY INFORMATION

City Way Developments 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.

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.
Plant and machinery etc - 20% 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.

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 NIL (2023 - NIL).

City Way Developments Ltd (Registered number: 13611484)

Notes to the Financial Statements - continued
for the year ended 30th September 2024


4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1st October 2023 20,771
Additions 3,078
At 30th September 2024 23,849
DEPRECIATION
At 1st October 2023 3,054
Charge for year 4,770
At 30th September 2024 7,824
NET BOOK VALUE
At 30th September 2024 16,025
At 30th September 2023 17,717

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1st October 2023 1,014,786
Additions 14,435
At 30th September 2024 1,029,221
NET BOOK VALUE
At 30th September 2024 1,029,221
At 30th September 2023 1,014,786

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other debtors 60 60

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 36,773 36,773
Taxation and social security 13,276 -
Other creditors 425,236 446,242
475,285 483,015

City Way Developments Ltd (Registered number: 13611484)

Notes to the Financial Statements - continued
for the year ended 30th September 2024


8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans 521,521 537,147

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 374,430 390,056

9. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 558,294 573,920

The debt is secured on the investment property held by the company.