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REGISTERED NUMBER: 01837979 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2023

FOR

PATHZONE LIMITED

PATHZONE LIMITED (REGISTERED NUMBER: 01837979)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


PATHZONE LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 OCTOBER 2023







DIRECTORS: S P Gray
Mrs S Gray





SECRETARY: Mrs S F C Gray





REGISTERED OFFICE: The Old Casino
28 Fourth Avenue
Hove
East Sussex
BN3 2PJ





REGISTERED NUMBER: 01837979 (England and Wales)





ACCOUNTANTS: Galloways Accounting (Hove) Limited
The Old Casino
28 Fourth Avenue
Hove
East Sussex
BN3 2PJ

PATHZONE LIMITED (REGISTERED NUMBER: 01837979)

BALANCE SHEET
31 OCTOBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 3 980 -
Investments 4 440,286 351,576
441,266 351,576

CURRENT ASSETS
Stocks 5 162,033 162,033
Debtors 6 448,811 418,983
Cash at bank 528,752 682,866
1,139,596 1,263,882
CREDITORS
Amounts falling due within one year 7 77,147 65,210
NET CURRENT ASSETS 1,062,449 1,198,672
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,503,715

1,550,248

CREDITORS
Amounts falling due after more than one
year

8

-

(29,099

)

PROVISIONS FOR LIABILITIES (13,814 ) -
NET ASSETS 1,489,901 1,521,149

CAPITAL AND RESERVES
Called up share capital 101 101
Revaluation reserve 10 119,370 42,140
Retained earnings 1,370,430 1,478,908
SHAREHOLDERS' FUNDS 1,489,901 1,521,149

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

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

PATHZONE LIMITED (REGISTERED NUMBER: 01837979)

BALANCE SHEET - continued
31 OCTOBER 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 29 February 2024 and were signed on its behalf by:





S P Gray - Director


PATHZONE LIMITED (REGISTERED NUMBER: 01837979)

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

1. 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 as modified by the revaluation of certain assets.

Turnover
Turnover represents the following types of income
- Rental income
- Income from the sale of properties

All income is recognised on a receivable basis.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 20% on reducing balance
Computer equipment - 33% on reducing balance

Stock
Stocks and work-in-progress are valued at the lower of cost and the estimated amount realisable from the disposal in the normal course of business. Cost comprises expenditure directly incurred in purchasing or manufacturing the stock and bringing it to its current state, plus an allocation of normal overhead expenditure attributable to the processes through which it has passed.

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 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.

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.

2. EMPLOYEES AND DIRECTORS

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

PATHZONE LIMITED (REGISTERED NUMBER: 01837979)

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

3. TANGIBLE FIXED ASSETS
Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
At 1 November 2022 2,276 - 2,276
Additions - 1,100 1,100
Disposals (2,276 ) - (2,276 )
At 31 October 2023 - 1,100 1,100
DEPRECIATION
At 1 November 2022 2,276 - 2,276
Charge for year - 120 120
Eliminated on disposal (2,276 ) - (2,276 )
At 31 October 2023 - 120 120
NET BOOK VALUE
At 31 October 2023 - 980 980
At 31 October 2022 - - -

4. FIXED ASSET INVESTMENTS
Other
investments
£   
COST OR VALUATION
At 1 November 2022 351,576
Revaluations 88,710
At 31 October 2023 440,286
NET BOOK VALUE
At 31 October 2023 440,286
At 31 October 2022 351,576

Cost or valuation at 31 October 2023 is represented by:

Other
investments
£   
Valuation in 2023 88,710
Cost 351,576
440,286

5. STOCKS
2023 2022
£    £   
Stock of property 162,033 162,033

PATHZONE LIMITED (REGISTERED NUMBER: 01837979)

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

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Other debtors 445,494 418,983
Tax 3,317 -
448,811 418,983

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts - 11,581
Tax - 32,689
Directors' loan accounts 74,687 18,600
Accrued expenses 2,460 2,340
77,147 65,210

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans - 1-2 years - 11,581
Bank loans - 2-5 years - 17,518
- 29,099

9. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank loans - 40,680

10. RESERVES
Revaluation
reserve
£   
At 1 November 2022 42,140
Revaluation of shares (14 )
Revaluation of property 90,813
Deferred tax (13,569 )

At 31 October 2023 119,370

11. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

During the year, S P Gray increased his loan to the company. As at 31 October 2023, the company owed him £74,687 (2022: £18,600). This balance represented the maximum amount outstanding during the year and interest is charged on the loan.

12. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is S P Gray & Mrs S F C Gray.

This was by virtue of their 100% holding of the issued share capital.