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Registered number: 13136668
FIRSTWAY DEVELOPMENTS LTD
Unaudited
Financial statements
Information for filing with the registrar
For the Year Ended 31 January 2023
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FIRSTWAY DEVELOPMENTS LTD
Registered number: 13136668
Balance sheet
As at 31 January 2023
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Debtors: amounts falling due within one year
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Creditors: amounts falling due within one year
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Total assets less current liabilities
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The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The financial statements have been prepared 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 financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.
The financial statements were approved and authorised for issue by the board and were signed on its behalf on 25 October 2023.
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FIRSTWAY DEVELOPMENTS LTD
Registered number: 13136668
Balance sheet (continued)
As at 31 January 2023
The notes on pages 3 to 5 form part of these financial statements.
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FIRSTWAY DEVELOPMENTS LTD
Notes to the financial statements
For the Year Ended 31 January 2023
Firstway Developments Ltd is a private company limited by shares and registered in England and Wales. The registered address is at 102 Wargrave Avenue, London, N15 6UA.
2.Accounting policies
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Basis of preparation of financial statements
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The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.
The following principal accounting policies have been applied:
All borrowing costs are recognised in profit or loss in the year in which they are incurred.
Investment property is carried at fair value determined annually by external valuers and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in profit or loss.
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The average monthly number of employees, including directors, during the year was 0 (2022 - 0).
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FIRSTWAY DEVELOPMENTS LTD
Notes to the financial statements
For the Year Ended 31 January 2023
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Freehold investment property
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The 2023 valuations were made by the director, on an open market value for existing use basis.
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If the Investment properties had been accounted for under the historic cost accounting rules, the properties would have been measured as follows:
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Cash and cash equivalents
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FIRSTWAY DEVELOPMENTS LTD
Notes to the financial statements
For the Year Ended 31 January 2023
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Creditors: Amounts falling due within one year
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Accruals and deferred income
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The following liabilities were secured:
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Details of security provided:
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Bank loans are secured by way of a fixed charge over the company's property.
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