0 false false false false false false false false false false true false false false false false false No description of principal activity 2023-03-01 Sage Accounts Production Advanced 2024 - FRS102_2024 xbrli:pure xbrli:shares iso4217:GBP 12450011 2023-03-01 2024-02-29 12450011 2024-02-29 12450011 2023-02-28 12450011 2022-03-01 2023-02-28 12450011 2023-02-28 12450011 2022-02-28 12450011 bus:Director5 2023-03-01 2024-02-29 12450011 core:WithinOneYear 2024-02-29 12450011 core:WithinOneYear 2023-02-28 12450011 core:AfterOneYear 2024-02-29 12450011 core:AfterOneYear 2023-02-28 12450011 core:ShareCapital 2024-02-29 12450011 core:ShareCapital 2023-02-28 12450011 core:RetainedEarningsAccumulatedLosses 2024-02-29 12450011 core:RetainedEarningsAccumulatedLosses 2023-02-28 12450011 bus:Director1 2023-03-01 2024-02-29 12450011 bus:SmallEntities 2023-03-01 2024-02-29 12450011 bus:AuditExemptWithAccountantsReport 2023-03-01 2024-02-29 12450011 bus:SmallCompaniesRegimeForAccounts 2023-03-01 2024-02-29 12450011 bus:PrivateLimitedCompanyLtd 2023-03-01 2024-02-29 12450011 bus:FullAccounts 2023-03-01 2024-02-29
COMPANY REGISTRATION NUMBER: 12450011
Thanet Way Limited
Filleted Unaudited Financial Statements
For the period ended
29 February 2024
Thanet Way Limited
Statement of Financial Position
29 February 2024
2024
2023
Note
£
£
Current assets
Stocks
13,850,644
10,332,609
Debtors
4
85,090
141,563
Cash at bank and in hand
514
2,165
-------------
-------------
13,936,248
10,476,337
Creditors: amounts falling due within one year
5
13,948,707
10,473,707
-------------
-------------
Net current (liabilities)/assets
( 12,459)
2,630
--------
-------
Total assets less current liabilities
( 12,459)
2,630
Creditors: amounts falling due after more than one year
6
3,333
13,333
--------
--------
Net liabilities
( 15,792)
( 10,703)
--------
--------
Capital and reserves
Called up share capital
100
100
Profit and loss account
( 15,892)
( 10,803)
--------
--------
Shareholders deficit
( 15,792)
( 10,703)
--------
--------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 29 February 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Thanet Way Limited
Statement of Financial Position (continued)
29 February 2024
These financial statements were approved by the board of directors and authorised for issue on 22 November 2024 , and are signed on behalf of the board by:
A Nicolas
Director
Company registration number: 12450011
Thanet Way Limited
Notes to the Financial Statements
Year ended 29 February 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Hyde House, The Hyde, Edgware Road, London, NW9 6LA.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
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.
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
4. Debtors
2024
2023
£
£
Other debtors
85,090
141,563
--------
---------
5. Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts
10,000
10,000
Other creditors
13,938,707
10,463,707
-------------
-------------
13,948,707
10,473,707
-------------
-------------
6. Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
3,333
13,333
-------
--------
The bank loan is repayable by monthly repayments over a period of six years. Interest is charged at 2.5% per annum.