Ginway Construction Ltd - Accounts to registrar (filleted)

REGISTERED NUMBER: 05809517 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 December 2024

for

Ginway Construction Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

Mr V P Conway

Mr D J Conway

Mr C P Conway

Mr A J Conway

REGISTERED OFFICE:

Unit 15 Station Approach

Hitchin

Hertfordshire

SG4 9UW

REGISTERED NUMBER:

05809517 (England and Wales)

FIXED ASSETS

Tangible assets

5

278,095

346,615

CURRENT ASSETS

Debtors

6

75,441

82,791

Cash at bank

7,394

134,694

82,835

217,485

CREDITORS

Amounts falling due within one year

7

15,320

23,495

NET CURRENT ASSETS

98,155

240,980

TOTAL ASSETS LESS CURRENT
LIABILITIES

376,250

587,595

PROVISIONS FOR LIABILITIES

(37,191

)

(65,857

)

NET ASSETS

339,059

521,738

CAPITAL AND RESERVES

Called up share capital

8

100

Retained earnings

338,959

521,638

SHAREHOLDERS' FUNDS

339,059

521,738

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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.

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 30 September 2025 and were signed on its behalf by:

Mr D J Conway - Director

1.	STATUTORY INFORMATION

Ginway Construction 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

These financial statements have been prepared using the historical cost convention.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Going concern

The financial statements have been prepared on a going concern basis.

Judgements

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.

Turnover

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:

The amount of revenue can be reliably measured;

it is probable that future economic benefits will flow to the entity;

and specific criteria have been met for each of the company's activities.

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

-

25% on reducing balance

Motor vehicles

-

20% on reducing balance

Computer equipment

-

33% on cost

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

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.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised at the transaction price.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised at the transaction price.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2023 - 5 ) .

5.	TANGIBLE FIXED ASSETS

Freehold

Plant and

Motor

Computer

property

machinery

vehicles

equipment

Totals

£

COST

At 1 January 2024

120,000

471,404

139,764

3,040

734,208

Disposals

-

(24,789

)

-

(24,789

)

At 31 December 2024

120,000

471,404

114,975

3,040

709,419

DEPRECIATION

At 1 January 2024

-

327,584

59,233

776

387,593

Charge for year

-

35,955

12,206

858

49,019

Eliminated on disposal

-

(5,288

)

-

(5,288

)

At 31 December 2024

-

363,539

66,151

1,634

431,324

NET BOOK VALUE

At 31 December 2024

120,000

107,865

48,824

1,406

278,095

At 31 December 2023

120,000

143,820

80,531

2,264

346,615

Included within the net book value of land and buildings above is £120,000 (2022 - £120,000) in respect of freehold land and buildings.

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

Trade debtors

-

1,068

Other debtors

-

2,286

Owed by/(from) parent

35,500

Owed by/(from) group

34,000

Directors' current accounts

-

1,352

VAT

2,986

3,155

Prepayments

2,955

5,430

75,441

82,791

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

Trade creditors

(1

)

-

Tax

-

6,220

Social security and other taxes

(23,676

)

(35,283

)

Credit card

6,382

1,780

Wages control

-

1,813

Directors' current accounts

475

-

Accrued expenses

1,500

1,975

(15,320

)

(23,495

)

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2024

2023

value:

£

100

Ordinary

1

100

9.	RELATED PARTY TRANSACTIONS

At the balance sheet date, the company owed £475 (2023: £1,351) to the directors of the company. The loan is provided interest free and repayable on demand.

At the balance sheet date, the company was owed £35,500 (2023: £35,500) by ROTO Gen Ltd. The loan is provided interest free and repayable on demand.

At balance sheet date the company was owed £34,000 (2023: £34,000) by FD One Systems Ltd, a company connected with a shared parent. There is no interest being charged and the amounts is fully repayable upon demand.

10.	ULTIMATE CONTROLLING PARTY

The company's immediate parent is Ginway Holdings Ltd, incorporated in England & Wales.

The most senior parent entity producing publicly available financial statements is Ginway Holdings Ltd.

These financial statements are available upon request from Companies House