Northway Developments Ltd - Accounts to registrar (filleted) - small 18.2

Northway Developments Ltd - Accounts to registrar (filleted) - small 18.2

NORTHWAY DEVELOPMENTS LTD - Company Information

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REGISTERED NUMBER: 09411832 (England and Wales)















Financial Statements for the Year Ended 31 January 2019

for

Northway Developments Ltd
Hamiltons Group Limited
Chartered Certified Accountants
Meriden House
6 Great Cornbow
Halesowen
West Midlands
B63 3AB








Northway Developments Ltd (Registered number: 09411832)






Contents of the Financial Statements
for the Year Ended 31 January 2019




Page

Company Information 1

Chartered Certified Accountants' Report 2

Statement of Financial Position 3

Notes to the Financial Statements 5


Northway Developments Ltd

Company Information
for the Year Ended 31 January 2019







DIRECTORS: S Singh
S Singh





REGISTERED OFFICE: Suite 402, Avix Business Centre
42-46 Hagley Road
Edgbaston
Birmingham
B16 8PE





REGISTERED NUMBER: 09411832 (England and Wales)





ACCOUNTANTS: Hamiltons Group Limited
Chartered Certified Accountants
Meriden House
6 Great Cornbow
Halesowen
West Midlands
B63 3AB
Page 1
Chartered Certified Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
Northway Developments Ltd

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 Northway Developments Ltd for the year ended 31 January 2019 which comprise the Income
Statement, Statement of Financial Position, Statement of Changes in Equity 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 Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/rulebook.

This report is made solely to the Board of Directors of Northway Developments Ltd, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Northway Developments Ltd and state those matters that we have agreed to state to the Board of Directors of Northway Developments Ltd, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/factsheet163. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Northway Developments Ltd 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 Northway Developments Ltd. You consider that Northway Developments Ltd 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 Northway Developments Ltd. 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.






Hamiltons Group Limited
Chartered Certified Accountants
Meriden House
6 Great Cornbow
Halesowen
West Midlands
B63 3AB


18 October 2019

This page does not form part of the statutory financial statements

Page 2
Northway Developments Ltd (Registered number: 09411832)

Statement of Financial Position
31 January 2019

2019 2018
Notes £    £    £    £   
FIXED ASSETS
Property, plant and equipment 3 1,841,894 978,879

CURRENT ASSETS
Cash at bank 61,522 130,985

CREDITORS
Amounts falling due within one year 4 1,968,189 1,161,685
NET CURRENT LIABILITIES (1,906,667 ) (1,030,700 )
TOTAL ASSETS LESS CURRENT
LIABILITIES
(64,773
)
(51,821
)

CAPITAL AND RESERVES
Called up share capital 5 100 100
Retained earnings (64,873 ) (51,921 )
SHAREHOLDERS' FUNDS (64,773 ) (51,821 )

The notes on pages 5 to 6 form part of these financial statements

Page 3
Northway Developments Ltd (Registered number: 09411832)

Statement of Financial Position - continued
31 January 2019


The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2019 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 on 18 October 2019 and were signed on its behalf by:





S Singh - Director


The notes on pages 5 to 6 form part of these financial statements

Page 4
Northway Developments Ltd (Registered number: 09411832)

Notes to the Financial Statements
for the Year Ended 31 January 2019

1. STATUTORY INFORMATION

Northway Developments 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. ACCOUNTING POLICIES

Basis of preparing the financial statements
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. The financial statements have been prepared under the historical cost convention.

The financial statements are presented in pound sterling which is the functional currency of the company and
rounded to the nearest £.

Turnover
Revenue is measured at the fair value of the consideration received or receivable, excluding discounts, rebates,
value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - 0%
Fixtures and fittings - 20% on cost

Depreciation has been provided at a rate of 0% on freehold land and buildings as they are maintained in a
continual state of sound repair, their lives are long and residual values are such that depreciation is not material.

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 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.

Going concern
The financial accounts have been prepared on a going concern basis, the validity of which depends upon
the future support of the directors. In the opinion of the directors, this support will be available such that the
company will continue in operational existence for the foreseeable future.

Page 5
Northway Developments Ltd (Registered number: 09411832)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2019

3. PROPERTY, PLANT AND EQUIPMENT
Fixtures
Freehold and
property fittings Totals
£    £    £   
COST
At 1 February 2018 978,879 - 978,879
Additions 856,117 8,622 864,739
At 31 January 2019 1,834,996 8,622 1,843,618
DEPRECIATION
Charge for year - 1,724 1,724
At 31 January 2019 - 1,724 1,724
NET BOOK VALUE
At 31 January 2019 1,834,996 6,898 1,841,894
At 31 January 2018 978,879 - 978,879

4. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2019 2018
£    £   
Bank loans and overdrafts 1,521,000 796,847
Directors' accounts 446,339 363,988
Accruals and deferred income 850 850
1,968,189 1,161,685

5. CALLED UP SHARE CAPITAL


Allotted, issued and fully paid:
Number: Class: Nominal 2019 2018
value: £    £   
100 Ordinary £1 100 100

Page 6