Registration number: 10854520

Angelway Limited

Contents

Company Information	1
Balance Sheet	2 to 3
Notes to the Financial Statements	4 to 11

Angelway Limited

Company Information

Directors

Ms P Chai Mrs A Francis Mr J Francis

Registered office

Leavesden Park Suite 1 5 Hercules Way Watford Hertfordshire WD25 7GS

Accountants

Landmark Accountants Limited Leavesden Park 5 Hercules Way Watford Hertfordshire WD25 7GS

Angelway Limited

(Registration number: 10854520)
Balance Sheet as at 31 March 2025

	Note	2025		2024
		£	£	£	£
Fixed assets
Intangible assets	4		29,640		-
Tangible assets	5		1,833,191		823,128
Investment property	6		16,500,000		15,525,000
			18,362,831		16,348,128
Current assets
Stocks	7	3,400		3,400
Debtors	8	5,063,575		156,231
Cash at bank and in hand		106,036		30,654
		5,173,011		190,285
Creditors: Amounts falling due within one year	9	(339,764)		(1,893,751)
Net current assets/(liabilities)			4,833,247		(1,703,466)
Total assets less current liabilities			23,196,078		14,644,662
Creditors: Amounts falling due after more than one year	9		(8,694,800)		(41,571)
Net assets			14,501,278		14,603,091
Capital and reserves
Called up share capital		100		100
Other reserves		16,256,250		15,525,000
Retained earnings		(1,755,072)		(922,009)
Shareholders' funds			14,501,278		14,603,091

For the financial 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.

Directors' responsibilities:

•	The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
•	The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

Angelway Limited

(Registration number: 10854520)
Balance Sheet as at 31 March 2025

These financial statements have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 23 December 2025 and signed on its behalf by:
 

......................................... Mr J Francis Director

Angelway Limited

Notes to the Financial Statements for the Year Ended 31 March 2025

1	General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Leavesden Park
Suite 1
5 Hercules Way
Watford
Hertfordshire
WD25 7GS
United Kingdom

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

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

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the 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.

Tax

The tax expense for the period comprises deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

Angelway Limited

Notes to the Financial Statements for the Year Ended 31 March 2025

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

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.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Property Improvements	10% Straight line method
Furniture, Fittings and Equipment	20% Straight line method
Motor Vehicles	20% Reducing balance method

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class	Amortisation method and rate
Website development costs	25% straight line

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 initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Angelway Limited

Notes to the Financial Statements for the Year Ended 31 March 2025

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

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 initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

Angelway Limited

Notes to the Financial Statements for the Year Ended 31 March 2025

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

Financial instruments

Classification
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments.
 Recognition and measurement
Basic financial instruments are recognised at amortised cost.
 

3	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 7 (2024 - 9).

4	Intangible assets

	Website development costs  £	Total £
Cost or valuation
Additions	32,188	32,188
At 31 March 2025	32,188	32,188
Amortisation
Amortisation charge	2,548	2,548
At 31 March 2025	2,548	2,548
Carrying amount
At 31 March 2025	29,640	29,640

Amortisation of intangible fixed assets is included in administrative expenses.

Angelway Limited

Notes to the Financial Statements for the Year Ended 31 March 2025

5	Tangible assets

	Property improvements £	Furniture, fittings and equipment  £	Motor vehicles  £	Total £
Cost or valuation
At 1 April 2024	931,898	143,607	31,649	1,107,154
Additions	845,043	232,853	157,002	1,234,898
At 31 March 2025	1,776,941	376,460	188,651	2,342,052
Depreciation
At 1 April 2024	174,872	91,505	17,649	284,026
Charge for the year	136,490	54,144	34,201	224,835
At 31 March 2025	311,362	145,649	51,850	508,861
Carrying amount
At 31 March 2025	1,465,579	230,811	136,801	1,833,191
At 31 March 2024	757,026	52,102	14,000	823,128

6	Investment properties

	2025 £
At 1 April	15,525,000
Fair value adjustments	975,000
At 31 March	16,500,000

7

Stocks

	2025 £	2024 £
Other inventories	3,400	3,400

8

Debtors

Angelway Limited

Notes to the Financial Statements for the Year Ended 31 March 2025

	2025 £	2024 £
Trade debtors	60,600	111,513
Prepayments	1,131,778	-
Other debtors	3,871,197	44,718
	5,063,575	156,231

Angelway Limited

Notes to the Financial Statements for the Year Ended 31 March 2025

9

Creditors

	Note	2025 £	2024 £
Due within one year
Loans and borrowings	10	30,458	26,265
Trade creditors		140,774	95,818
Taxation and social security		69,751	51,924
Accruals and deferred income		37,503	61,416
Other creditors		61,278	1,658,328
		339,764	1,893,751

Creditors: amounts falling due after more than one year

	Note	2025 £	2024 £
Due after one year
Loans and borrowings	10	8,694,800	41,571

10	Loans and borrowings

Non-current loans and borrowings

	2025 £	2024 £
Bank borrowings	22,258	17,451
Hire purchase contracts	72,542	24,120
Other borrowings	8,600,000	-
	8,694,800	41,571

Current loans and borrowings

	2025 £	2024 £
Bank borrowings	3,898	17,731
Hire purchase contracts	26,560	8,534
	30,458	26,265

The hire purchase liabilities are secured on the assets concerned.

The other borrowings are secured on all assets of the company.

Angelway Limited

Notes to the Financial Statements for the Year Ended 31 March 2025

11	Financial commitments, guarantees and contingencies

Amounts not provided for in the balance sheet

The total amount of financial commitments not included in the balance sheet is £2,222 (2024 - £6,348).

12	Related party transactions

Directors' guarantees

Last year the company entered into the following guarantee on behalf of the directors:

The company had provided security for borrowings by way of a charge over company land and buildings. The maximum liability that may be incurred by the company is £Nil (2024 - £8,200,000). A member of key management has provided a personal guarantee for the companies other borrowings of £8,600,000.

Transactions with directors

2025	At 1 April 2024 £	Advances to director £	Repayments by director £	At 31 March 2025 £
Loans to directors (interest accrued at 2.25% and repayable on demand)	-	4,798,935	(1,219,768)	3,579,167