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REGISTERED NUMBER: 10865782 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2023

FOR

FOURTHPATH LIMITED

FOURTHPATH LIMITED (REGISTERED NUMBER: 10865782)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


FOURTHPATH LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 JULY 2023







DIRECTORS: D Jenkins
C Jenkins





REGISTERED OFFICE: Chargrove House
Shurdington Road
Cheltenham
Gloucestershire
GL51 4GA





BUSINESS ADDRESS: 46 Clifton Gardens
West End
Southampton
Hampshire
SO18 3DA





REGISTERED NUMBER: 10865782 (England and Wales)





ACCOUNTANTS: Randall & Payne LLP
Chartered Accountants
Chargrove House
Shurdington Road
Cheltenham
Gloucestershire
GL51 4GA

FOURTHPATH LIMITED (REGISTERED NUMBER: 10865782)

BALANCE SHEET
31 JULY 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 5,909 6,198

CURRENT ASSETS
Debtors 5 129,850 93,701
Cash at bank 423,513 391,063
553,363 484,764
CREDITORS
Amounts falling due within one year 6 275,349 267,074
NET CURRENT ASSETS 278,014 217,690
TOTAL ASSETS LESS CURRENT
LIABILITIES

283,923

223,888

CREDITORS
Amounts falling due after more than one
year

7

(29,921

)

(39,569

)

PROVISIONS FOR LIABILITIES (1,477 ) (1,178 )
NET ASSETS 252,525 183,141

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 252,425 183,041
252,525 183,141

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2023 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.

FOURTHPATH LIMITED (REGISTERED NUMBER: 10865782)

BALANCE SHEET - continued
31 JULY 2023


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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 1 November 2023 and were signed on its behalf by:




D Jenkins - Director



C Jenkins - Director


FOURTHPATH LIMITED (REGISTERED NUMBER: 10865782)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023

1. STATUTORY INFORMATION

Fourthpath 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. 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.

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 consulting is recognised when the service has been provided and all obligations to the customers have been fulfilled.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - Straight line over 3 years
Fixtures and fittings - Straight line over 3 years
Computer equipment - Straight line over 3 years

Financial instruments
Financial Instruments are classified by the directors as basic or advanced following the conditions in FRS 102 Section 11. Basic financial instruments are recognised at amortised cost using the effective interest method.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

FOURTHPATH LIMITED (REGISTERED NUMBER: 10865782)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 2023

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Provisions
Provisions are recognised only where a present obligation exists as a result of a past transaction or event at or prior to the balance sheet date. In addition, a provision is only recognised where the amounts involved can be reliably estimated. Where material, provisions are calculated on a discounted basis.

Going concern
There are no material uncertainties that may cast significant doubt about the company’s ability to continue as a going concern.

The company is in good financial health, with a greater spread of new clients and a pipeline of work for the next financial year.

Government grants
Government grants relating to tangible fixed assets are treated as deferred income and released to the profit and loss over the expected useful lives of the assets to which they relate. Government grants which are not directly attributable to fixed assets are recognised in the profit and loss in accordance with the accruals method in line with FRS 102.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 2 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Computer
machinery fittings equipment Totals
£    £    £    £   
COST
At 1 August 2022 1,240 4,511 5,327 11,078
Additions - - 1,200 1,200
At 31 July 2023 1,240 4,511 6,527 12,278
DEPRECIATION
At 1 August 2022 1,102 384 3,394 4,880
Charge for year 138 825 526 1,489
At 31 July 2023 1,240 1,209 3,920 6,369
NET BOOK VALUE
At 31 July 2023 - 3,302 2,607 5,909
At 31 July 2022 138 4,127 1,933 6,198

FOURTHPATH LIMITED (REGISTERED NUMBER: 10865782)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 2023

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 97,070 89,417
Other debtors 496 24
Directors' loan accounts 4,467 -
Prepayments 27,817 4,260
129,850 93,701

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 31,913 20,895
Corporation Tax 52,253 48,536
VAT 26,910 24,602
Other creditors 2,183 4,973
Directors' loan accounts - 8,870
Accrued expenses 162,090 159,198
275,349 267,074

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans - 1-2 years 10,015 9,768
Bank loans - 2-5 years 19,906 29,801
29,921 39,569

8. TRANSACTIONS WITH DIRECTORS

The following advances and credits to directors subsisted during the years ended 31 July 2023 and 31 July 2022:

2023 2022
£    £   
D Jenkins and C Jenkins
Balance outstanding at start of year (8,870 ) (9,003 )
Amounts advanced 32,545 6,869
Amounts repaid (19,208 ) (6,736 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 4,467 (8,870 )

Interest is being charged annually at the HMRC approved rate and there are no set repayment terms.