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REGISTERED NUMBER: 04894965 (England and Wales)












Unaudited Financial Statements for the Year Ended 30 September 2024

for

Southway Developments Limited

Southway Developments Limited (Registered number: 04894965)






Contents of the Financial Statements
for the Year Ended 30 September 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Southway Developments Limited

Company Information
for the Year Ended 30 September 2024







DIRECTOR: T G Bard





REGISTERED OFFICE: Lynnem House
1 Victoria Way
Burgess Hill
West Sussex
RH15 9NF





REGISTERED NUMBER: 04894965 (England and Wales)





ACCOUNTANTS: Price Green & Co
Lynnem House
1 Victoria Way
Burgess Hill
West Sussex
RH15 9NF

Southway Developments Limited (Registered number: 04894965)

Balance Sheet
30 September 2024

30.9.24 30.9.23
Notes £    £    £   
FIXED ASSETS
Tangible assets 4 25,658 34,391

CURRENT ASSETS
Stocks 55,024 65,326
Debtors 5 11,263 36,322
Cash at bank and in hand 10,253 31,071
76,540 132,719
CREDITORS
Amounts falling due within one year 6 40,899 106,485
NET CURRENT ASSETS 35,641 26,234
TOTAL ASSETS LESS CURRENT
LIABILITIES

61,299

60,625

CREDITORS
Amounts falling due after more than one year 7 (35,786 ) (53,315 )

PROVISIONS FOR LIABILITIES (6,415 ) (6,534 )
NET ASSETS 19,098 776

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings 19,097 775
19,098 776

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

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

Southway Developments Limited (Registered number: 04894965)

Balance Sheet - continued
30 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 director and authorised for issue on 21 April 2025 and were signed by:





T G Bard - Director


Southway Developments Limited (Registered number: 04894965)

Notes to the Financial Statements
for the Year Ended 30 September 2024

1. STATUTORY INFORMATION

Southway Developments 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.

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 - 33% on cost and 25% on reducing balance

Stocks
Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

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.

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.

Southway Developments Limited (Registered number: 04894965)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2024

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 October 2023 48,821
Disposals (540 )
At 30 September 2024 48,281
DEPRECIATION
At 1 October 2023 14,430
Charge for year 8,554
Eliminated on disposal (361 )
At 30 September 2024 22,623
NET BOOK VALUE
At 30 September 2024 25,658
At 30 September 2023 34,391

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.9.24 30.9.23
£    £   
Trade debtors - 2,329
Other debtors 11,263 33,993
11,263 36,322

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.9.24 30.9.23
£    £   
Bank loans and overdrafts 10,000 10,000
Hire purchase contracts 7,529 7,529
Trade creditors 4,001 63,488
Taxation and social security 15,498 8,913
Other creditors 3,871 16,555
40,899 106,485

Southway Developments Limited (Registered number: 04894965)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2024

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30.9.24 30.9.23
£    £   
Bank loans 6,667 16,667
Hire purchase contracts 29,119 36,648
35,786 53,315

8. RELATED PARTY DISCLOSURES

During the year, total dividends of £30,000 were paid to the director .

Included in other creditors is £2,241 (2023: £33,099 debtor) owed to the director by the company.