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REGISTERED NUMBER: 06756066 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2023

FOR

PATHFINDING LIMITED

PATHFINDING LIMITED (REGISTERED NUMBER: 06756066)

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










Page

Statement of Financial Position 1

Notes to the Financial Statements 2 to 4


PATHFINDING LIMITED (REGISTERED NUMBER: 06756066)

STATEMENT OF FINANCIAL POSITION
31 OCTOBER 2023

31.10.23 31.10.22
Notes £    £   
FIXED ASSETS
Investments 4 200 200

CURRENT ASSETS
Debtors 5 12,890 12,890
Cash at bank 96 96
TOTAL ASSETS LESS CURRENT
LIABILITIES

13,186

13,186

CREDITORS
Amounts falling due after more than one
year

6

(1,141,627

)

(1,141,454

)
NET LIABILITIES (1,128,441 ) (1,128,268 )

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings (1,128,541 ) (1,128,368 )
(1,128,441 ) (1,128,268 )

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 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.

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 director and authorised for issue on 25 July 2024 and were signed by:





J C Fretwell - Director


PATHFINDING LIMITED (REGISTERED NUMBER: 06756066)

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


1. STATUTORY INFORMATION

PATHFINDING LIMITED is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 06756066

Registered office: C/o DPC Accountants
Stone House
Stone Road Business Park
Stoke on Trent
Staffordshire
ST4 6SR

2. ACCOUNTING POLICIES

BASIS OF PREPARING THE FINANCIAL STATEMENTS
The financial statements are prepared in sterling, which is the functional currency of the entity.

CRITICAL ACCOUNTING JUDGEMENTS AND KEY SOURCES OF ESTIMATION UNCERTAINTY
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

FINANCIAL INSTRUMENTS
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument.

Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately.

For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics.

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 statement of financial position date.


PATHFINDING LIMITED (REGISTERED NUMBER: 06756066)

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


2. ACCOUNTING POLICIES - continued
DEFERRED TAX
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2022 - 1 ) .

4. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 November 2022
and 31 October 2023 200
NET BOOK VALUE
At 31 October 2023 200
At 31 October 2022 200

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.10.23 31.10.22
£    £   
Amounts owed by group undertakings 12,890 12,890

6. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.10.23 31.10.22
£    £   
Amounts owed to group undertakings 1,041,986 1,041,813
Other creditors 99,641 99,641
1,141,627 1,141,454

7. RELATED PARTY DISCLOSURES

Transactions with directors are under normal market conditions and/or not material.

The company has taken advantage of the exemption from the disclosures required by paragraph 33.1A of Financial Reporting Standard 102 regarding transactions between fellow group companies.

PATHFINDING LIMITED (REGISTERED NUMBER: 06756066)

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


8. POST BALANCE SHEET EVENTS

There were no material events up to the date of approval of the financial statements by the board.

9. GOING CONCERN

The company's balance sheet shows negative shareholders funds of £1,128,541. However, the company is supported by the director and Pathfinding Commercial Limited, a fellow subsidiary The director and the inter company has confirmed he will not call in the loan and for the next 12 months.