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REGISTERED NUMBER: 10211076 (England and Wales)














ABRIDGED UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 DECEMBER 2022

FOR

PATH INVESTMENTS (LONDON) LIMITED

PATH INVESTMENTS (LONDON) LIMITED (REGISTERED NUMBER: 10211076)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 DECEMBER 2022










Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4


PATH INVESTMENTS (LONDON) LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 DECEMBER 2022







DIRECTOR: Mr D Demosthenous





REGISTERED OFFICE: c/o Michael Filiou Ltd
Salisbury House
81 High Street
Potters Bar
Hertfordshire
EN6 5AS





REGISTERED NUMBER: 10211076 (England and Wales)





ACCOUNTANTS: Michael Filiou Ltd
Chartered Certified Accountants
www.michaelfiliou.com
Salisbury House
81 High Street
Potters Bar
Hertfordshire
EN6 5AS

PATH INVESTMENTS (LONDON) LIMITED (REGISTERED NUMBER: 10211076)

ABRIDGED BALANCE SHEET
30 DECEMBER 2022

2022 2021
Notes £    £    £    £   
FIXED ASSETS
Investments 5 1 1
Investment property 6 2,245,000 2,245,000
2,245,001 2,245,001

CURRENT ASSETS
Debtors 134,121 136,676
Cash at bank 34,902 60,524
169,023 197,200
CREDITORS
Amounts falling due within one year 2,426,754 2,441,864
NET CURRENT LIABILITIES (2,257,731 ) (2,244,664 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(12,730

)

337

CREDITORS
Amounts falling due after more than one
year

7

1,206,754

1,214,409
NET LIABILITIES (1,219,484 ) (1,214,072 )

CAPITAL AND RESERVES
Called up share capital 9 1 1
Retained earnings (1,219,485 ) (1,214,073 )
SHAREHOLDERS' FUNDS (1,219,484 ) (1,214,072 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 December 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 December 2022 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

PATH INVESTMENTS (LONDON) LIMITED (REGISTERED NUMBER: 10211076)

ABRIDGED BALANCE SHEET - continued
30 DECEMBER 2022


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 30 December 2022 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 16 October 2023 and were signed by:





Mr D Demosthenous - Director


PATH INVESTMENTS (LONDON) LIMITED (REGISTERED NUMBER: 10211076)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 DECEMBER 2022


1. STATUTORY INFORMATION

Path Investments (London) Limited 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Turnover
Turnover is rental income measured at fair value of rent received or receivable, excluding discounts, rebates, and value added tax, from property owned by the company.

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

Investment property
Investment property is initially recognised at cost which includes purchase cost and any directly attributable expenditure. At the end of each period, the carrying value is adjusted to the fair value at that date. Fair value is determined by consideration of comparable market data such as rental yields, location, condition and nature of the property. The gains and losses are taken to profit and loss at the end of each period.

Deferred tax is recognised in respect to any gains, and the amount included in profit and loss is net of any deferred trax provision. Deferred taxation provided on these gains are at the rate expected to apply when the property is sold.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2021 - NIL).

PATH INVESTMENTS (LONDON) LIMITED (REGISTERED NUMBER: 10211076)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 DECEMBER 2022


5. FIXED ASSET INVESTMENTS

Information on investments other than loans is as follows:
Totals
£   
COST
At 31 December 2021
and 30 December 2022 1
NET BOOK VALUE
At 30 December 2022 1
At 30 December 2021 1

The company's investments at the Balance Sheet date in the share capital of companies include the following:

Path Investments (London) Holdings Limited
Registered office: c/o Michael Filiou Ltd, Salisbury House, 81 High Street, Potters Bar, Hertfordshire EN6 5AS
Nature of business: Dormant
%
Class of shares: holding
Ordinary shares 100.00

6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 31 December 2021
and 30 December 2022 2,245,000
NET BOOK VALUE
At 30 December 2022 2,245,000
At 30 December 2021 2,245,000

The historical cost of the investment property is £3,372,782.

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN FIVE
YEARS
2022 2021
£    £   
Repayable by instalments
Bank loan due more than 1 year 1,206,754 1,214,409

PATH INVESTMENTS (LONDON) LIMITED (REGISTERED NUMBER: 10211076)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 DECEMBER 2022


8. SECURED DEBTS

The following secured debts are included within creditors:

2022 2021
£    £   
Bank loans 1,229,639 1,252,524

The bank loan is secured against the leasehold investment property of the company in favour of the lender. The loan is repayable over the period 15 years from September 2020. Interest is chargeable on the amounts drawn under the facility at GBP Libor three months plus margin of 2.50% per annum.

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2022 2021
value: £    £   
1 Ordinary £1 1 1

10. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Mr D Demosthenous.

He controls the company by virtue of holding all 100% of the issued share capital of the company.