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Company Registration No. 09578666 (England and Wales)
Nearway Ltd Unaudited accounts for the year ended 31 March 2025
Nearway Ltd Unaudited accounts Contents
Page
Company information
3
Statement of financial position
4
Notes to the accounts
5
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Nearway Ltd Company Information for the year ended 31 March 2025
Director
Ali A Al-Khazaali
Company Number
09578666 (England and Wales)
Registered Office
36 Wembley Hill Road Wembley London HA9 8FJ United Kingdom
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Nearway Ltd Statement of financial position as at 31 March 2025
2025
2024
Notes
£
£
Fixed assets
Tangible assets
4
126,160
148,423
Current assets
Debtors
5
59,130
153,850
Cash at bank and in hand
54
6
59,184
153,856
Creditors: amounts falling due within one year
6
(103,173)
(189,221)
Net current liabilities
(43,989)
(35,365)
Total assets less current liabilities
82,171
113,058
Creditors: amounts falling due after more than one year
7
(40,030)
(65,997)
Net assets
42,141
47,061
Capital and reserves
Called up share capital
8
100
100
Profit and loss account
42,041
46,961
Shareholders' funds
42,141
47,061
For the year ending 31 March 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 4 December 2025 and were signed on its behalf by
Ali A Al-Khazaali Director Company Registration No. 09578666
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Nearway Ltd Notes to the Accounts for the year ended 31 March 2025
1
Statutory information
Nearway Ltd is a private company, limited by shares, registered in England and Wales, registration number 09578666. The registered office is 36 Wembley Hill Road, Wembley, London, HA9 8FJ, United Kingdom.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
15% reducing balance
Motor vehicles
15% reducing balance
Research and development
Expenditure on research and development is written off in the year in which it is incurred.
Leased assets
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term. Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
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Nearway Ltd Notes to the Accounts for the year ended 31 March 2025
4
Tangible fixed assets
Plant & machinery
Motor vehicles
Total
£
£
£
Cost or valuation
At cost
At cost
At 1 April 2024
4,907
236,678
241,585
At 31 March 2025
4,907
236,678
241,585
Depreciation
At 1 April 2024
999
92,163
93,162
Charge for the year
586
21,677
22,263
At 31 March 2025
1,585
113,840
115,425
Net book value
At 31 March 2025
3,322
122,838
126,160
At 31 March 2024
3,908
144,515
148,423
5
Debtors
2025
2024
£
£
Amounts falling due within one year
Trade debtors
29,550
45,726
Accrued income and prepayments
-
10,224
Other debtors
29,580
97,900
59,130
153,850
6
Creditors: amounts falling due within one year
2025
2024
£
£
Bank loans and overdrafts
12,810
14,753
VAT
14,783
29,021
Obligations under finance leases and hire purchase contracts
26,300
35,394
Trade creditors
9,025
18,051
Taxes and social security
17,846
9,666
Other creditors
4,409
1,600
Loans from directors
18,000
80,736
103,173
189,221
7
Creditors: amounts falling due after more than one year
2025
2024
£
£
Bank loans
3,588
14,456
Obligations under finance leases and hire purchase contracts
36,442
51,541
40,030
65,997
8
Share capital
2025
2024
£
£
Allotted, called up and fully paid:
100 Ordinary shares of £1 each
100
100
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Nearway Ltd Notes to the Accounts for the year ended 31 March 2025
9
Transactions with related parties
Included in other creditors is a sum of £18,000 (2024: £80,736) owed by the company to the director. Included in other debtors is a sum of £29,580 (2024: £97,900) owed by the connected company to the company. During the year interim dividends of £18,000 (2024: £24,140) were paid to the director.
10
Average number of employees
During the year the average number of employees was 5 (2024: 4).
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