Silverfin false false 31/12/2023 16/12/2022 31/12/2023 Mr J Hollo 16/12/2022 Mr R Kaigg 16/12/2022 29 February 2024 The principal activity of the company during the year was that of the production of machines and equipment used in the automated cutting industry. 14544332 2023-12-31 14544332 bus:Director1 2023-12-31 14544332 bus:Director2 2023-12-31 14544332 core:CurrentFinancialInstruments 2023-12-31 14544332 core:ShareCapital 2023-12-31 14544332 core:RetainedEarningsAccumulatedLosses 2023-12-31 14544332 2022-12-16 2023-12-31 14544332 bus:FilletedAccounts 2022-12-16 2023-12-31 14544332 bus:SmallEntities 2022-12-16 2023-12-31 14544332 bus:AuditExemptWithAccountantsReport 2022-12-16 2023-12-31 14544332 bus:PrivateLimitedCompanyLtd 2022-12-16 2023-12-31 14544332 bus:Director1 2022-12-16 2023-12-31 14544332 bus:Director2 2022-12-16 2023-12-31 iso4217:GBP xbrli:pure

Company No: 14544332 (England and Wales)

PATHFINDER CUTTING TECHNOLOGY UK LIMITED

Unaudited Financial Statements
For the financial period from 16 December 2022 to 31 December 2023
Pages for filing with the registrar

PATHFINDER CUTTING TECHNOLOGY UK LIMITED

Unaudited Financial Statements

For the financial period from 16 December 2022 to 31 December 2023

Contents

PATHFINDER CUTTING TECHNOLOGY UK LIMITED

BALANCE SHEET

As at 31 December 2023
PATHFINDER CUTTING TECHNOLOGY UK LIMITED

BALANCE SHEET (continued)

As at 31 December 2023
31.12.2023
£
Current assets
Stocks 38,846
Debtors 3 47,132
Cash at bank and in hand 245,666
331,644
Creditors: amounts falling due within one year 4 ( 305,304)
Net current assets 26,340
Total assets less current liabilities 26,340
Net assets 26,340
Capital and reserves
Called-up share capital 100
Profit and loss account 26,240
Total shareholders' funds 26,340

For the financial period ending 31 December 2023 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of Pathfinder Cutting Technology UK Limited (registered number: 14544332) were approved and authorised for issue by the Board of Directors on 29 February 2024. They were signed on its behalf by:

Mr J Hollo
Director
PATHFINDER CUTTING TECHNOLOGY UK LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial period from 16 December 2022 to 31 December 2023
PATHFINDER CUTTING TECHNOLOGY UK LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial period from 16 December 2022 to 31 December 2023
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial period, unless otherwise stated.

General information and basis of accounting

Pathfinder Cutting Technology UK Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Carlyle House, 78 Chorley New Road, Bolton, BL1 4BY, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

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

Foreign currency

Transactions in foreign currencies are recorded at the rate of exchange at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the Balance Sheet date are reported at the rates of exchange prevailing at that date.

Exchange differences are recognised in the Profit and Loss Account in the period in which they arise except for exchange differences arising on gains or losses on non-monetary items which are recognised in the Statement of Comprehensive Income.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost includes materials, direct labour and an attributable proportion of manufacturing overheads based on normal levels of activity. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

2. Employees

Period from
16.12.2022 to
31.12.2023
Number
Monthly average number of persons employed by the Company during the period, including directors 3

3. Debtors

31.12.2023
£
Trade debtors 37,602
Other debtors 9,530
47,132

4. Creditors: amounts falling due within one year

31.12.2023
£
Trade creditors 69,549
Taxation and social security 35,656
Other creditors 200,099
305,304

5. Related party transactions

Other related party transactions

At the period end the company owed an amount of £196,865 to Pathfinder Australia Pty Ltd, a company controlled by the directors and registered in Australia. The loan is interest free and repayable on demand.