| REGISTERED NUMBER: |
| Unaudited Financial Statements |
| for the Year Ended 30 September 2024 |
| for |
| 4 Way Builders Limited |
| REGISTERED NUMBER: |
| Unaudited Financial Statements |
| for the Year Ended 30 September 2024 |
| for |
| 4 Way Builders Limited |
| 4 Way Builders Limited (Registered number: 10837473) |
| Contents of the Financial Statements |
| for the Year Ended 30 September 2024 |
| Page |
| Chartered accountants' report | 1 |
| Statement of financial position | 2 | to | 3 |
| Notes to the financial statements | 4 | to | 7 |
| Chartered Accountants' Report to the Board of Directors |
| on the Unaudited Financial Statements of |
| 4 Way Builders Limited |
| The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Statement of financial position. Readers are cautioned that the Income statement and certain other primary statements and the Report of the directors are not required to be filed with the Registrar of Companies. |
| In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of 4 Way Builders Limited for the year ended 30 September 2024 which comprise the Statement of income and retained earnings, Statement of financial position and the related notes from the company's accounting records and from information and explanations you have given us. |
| As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance. |
| This report is made solely to the Board of Directors of 4 Way Builders Limited, as a body, in accordance with the terms of our engagement letter dated 17 August 2023. Our work has been undertaken solely to prepare for your approval the financial statements of 4 Way Builders Limited and state those matters that we have agreed to state to the Board of Directors of 4 Way Builders Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than 4 Way Builders Limited and its Board of Directors, as a body, for our work or for this report. |
| It is your duty to ensure that 4 Way Builders Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of 4 Way Builders Limited. You consider that 4 Way Builders Limited is exempt from the statutory audit requirement for the year. |
| We have not been instructed to carry out an audit or a review of the financial statements of 4 Way Builders Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements. |
| Monica House |
| St Augustines Road |
| Wisbech |
| Cambridgeshire |
| PE13 3AD |
| 4 Way Builders Limited (Registered number: 10837473) |
| Statement of Financial Position |
| 30 September 2024 |
| 2024 | 2023 |
| Notes | £ | £ | £ |
| Fixed assets |
| Tangible assets | 5 |
| Current assets |
| Stocks | 6 |
| Debtors | 7 |
| Cash at bank |
| Creditors |
| Amounts falling due within one year | 8 |
| Net current assets |
| Total assets less current liabilities |
| Creditors |
| Amounts falling due after more than one year |
9 |
| Net (liabilities)/assets | ( |
) |
| Capital and reserves |
| Called up share capital |
| Retained earnings | ( |
) |
| ( |
) |
| 4 Way Builders Limited (Registered number: 10837473) |
| Statement of Financial Position - continued |
| 30 September 2024 |
| 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 were approved by the Board of Directors and authorised for issue on |
| 4 Way Builders Limited (Registered number: 10837473) |
| Notes to the Financial Statements |
| for the Year Ended 30 September 2024 |
| 1. | Statutory information |
| 4 Way Builders Limited is a |
| Registered number: |
| Registered office: |
| The presentation currency of the financial statements is the Pound Sterling (£). |
| 2. | Statement of compliance |
| 3. | Accounting policies |
| Basis of preparing the financial statements |
| Judgements and key sources of estimation uncertainty |
| The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period or in the period of the revision and future periods if the revision affects both current and future periods. |
| Revenue recognition |
| Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and VAT. |
| Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably. |
| 4 Way Builders Limited (Registered number: 10837473) |
| Notes to the Financial Statements - continued |
| for the Year Ended 30 September 2024 |
| 3. | Accounting policies - continued |
| Tangible fixed assets |
| Estimation of useful life |
| The useful economic life used to depreciate tangible fixed assets relates to the expected future |
| performance of the assets acquired and management's estimate of the period over which economic benefit will be derived from the asset. |
| Estimation of residual value |
| The residual value of an asset is the estimated fair value of that asset at the end of its useful |
| economic life and therefore is also dependent upon the estimation of that life span.Historically, changes to the useful economic life and residual values have not had a material impact on the depreciation amount charged to the profit and loss. |
| Stocks |
| Stocks are measured at the lower of cost and estimated selling price less costs to complete and |
| sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing |
| the stock to its present location and condition. |
| Taxation |
| Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 statement of financial position date. |
| Deferred tax |
| Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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. |
| Long term contracts |
| Turnover on long term contracts is recognised according to the stage reached in the contract by reference to the value of the work done. A prudent estimate of the profit attributable to work completed is recognised once the outcome of the contract can be assessed with reasonable certainty. Any amounts by which the turnover exceeds payments on account is shown under debtors as amounts recoverable on contracts. |
| 4. | Employees and directors |
| The average number of employees during the year was |
| 4 Way Builders Limited (Registered number: 10837473) |
| Notes to the Financial Statements - continued |
| for the Year Ended 30 September 2024 |
| 5. | Tangible fixed assets |
| Plant and |
| machinery |
| etc |
| £ |
| Cost |
| At 1 October 2023 |
| and 30 September 2024 |
| Depreciation |
| At 1 October 2023 |
| Charge for year |
| At 30 September 2024 |
| Net book value |
| At 30 September 2024 |
| At 30 September 2023 |
| 6. | Stocks |
| 2024 | 2023 |
| £ | £ |
| Total stock |
| 7. | Debtors: amounts falling due within one year |
| 2024 | 2023 |
| £ | £ |
| Amounts recoverable on contract |
| VAT |
| Prepayments |
| 8. | Creditors: amounts falling due within one year |
| 2024 | 2023 |
| £ | £ |
| Bank loans and overdrafts |
| Trade creditors |
| Directors' loan accounts | 333,061 | 295,061 |
| Accrued expenses |
| 9. | Creditors: amounts falling due after more than one year |
| 2024 | 2023 |
| £ | £ |
| Other creditors |
| 4 Way Builders Limited (Registered number: 10837473) |
| Notes to the Financial Statements - continued |
| for the Year Ended 30 September 2024 |
| 10. | Secured debts |
| The following secured debts are included within creditors: |
| 2024 | 2023 |
| £ | £ |
| Bank loans |
| The bank loan of £158,645 (2023: £158,645) disclosed under creditors falling due within one year is secured by a first legal charge dated 10 March 2021 from 4 Way Builders Limited over the land at the rear of Scotsfield House, Outwell, PE14 9PE. |
| 11. | Related party disclosures |
| During the year the directors made loans to the company. The loans are interest free,, unsecured and repayable on demand. at the year end the balance owed was £333,061 (2023: £295,061). |