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REGISTERED NUMBER: 14056763 (England and Wales)















Unaudited Financial Statements for the Year Ended 30 June 2024

for

Firstway Solar Ltd

Firstway Solar Ltd (Registered number: 14056763)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Firstway Solar Ltd

Company Information
for the Year Ended 30 June 2024







DIRECTOR: P A Patrick





REGISTERED OFFICE: 67 Westow Street
Upper Norwood
London
SE19 3RW





REGISTERED NUMBER: 14056763 (England and Wales)





ACCOUNTANTS: Thornton Springer LLP
Chartered Accountants
67 Westow Street
London
SE19 3RW

Firstway Solar Ltd (Registered number: 14056763)

Balance Sheet
30 June 2024

30.6.24 30.6.23
Notes £    £   
CURRENT ASSETS
Stocks 1,787,448 282,104
Debtors 5 704,988 164,712
Cash at bank 4,486 2,973
2,496,922 449,789
CREDITORS
Amounts falling due within one year 6 3,932,670 900,206
NET CURRENT LIABILITIES (1,435,748 ) (450,417 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(1,435,748

)

(450,417

)

CAPITAL AND RESERVES
Called up share capital 1,000 1,000
Retained earnings 7 (1,436,748 ) (451,417 )
SHAREHOLDERS' FUNDS (1,435,748 ) (450,417 )

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

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

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 27 May 2025 and were signed by:





P A Patrick - Director


Firstway Solar Ltd (Registered number: 14056763)

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

1. STATUTORY INFORMATION

Firstway Solar 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. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

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.

Going concern
The balance sheet shows net liabilities of £1,436,748 (2023 - £451,417). The director of Firstway Solar Ltd has reasonable expectations that the company will be able to make sufficient profits to enable it to operate for the foreseeable future, in addition to the continued support and funding of the director and associated companies. These financial statements have therefore been prepared on a going concern basis.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - 1 ) .

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.24 30.6.23
£    £   
Trade debtors 69,667 -
Other debtors 635,321 164,712
704,988 164,712

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.24 30.6.23
£    £   
Trade creditors 534,643 150,099
Other creditors 3,398,027 750,107
3,932,670 900,206

Firstway Solar Ltd (Registered number: 14056763)

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

7. RESERVES
Retained
earnings
£   

At 1 July 2023 (451,417 )
Deficit for the year (985,331 )
At 30 June 2024 (1,436,748 )