Silverfin false false 31/12/2023 01/01/2023 31/12/2023 William Samuel Arrowsmith 01/04/2021 Simon Dominic Ingram 01/10/2020 Paula Jayne Miller 01/04/2021 30 August 2024 The principal activity of the Company during the financial period was the provision of software and technical support predominantly to the Broadcast and Entertainment industry. 12918213 2023-12-31 12918213 bus:Director1 2023-12-31 12918213 bus:Director2 2023-12-31 12918213 bus:Director3 2023-12-31 12918213 2022-12-31 12918213 core:CurrentFinancialInstruments 2023-12-31 12918213 core:CurrentFinancialInstruments 2022-12-31 12918213 core:ShareCapital 2023-12-31 12918213 core:ShareCapital 2022-12-31 12918213 core:RetainedEarningsAccumulatedLosses 2023-12-31 12918213 core:RetainedEarningsAccumulatedLosses 2022-12-31 12918213 core:OtherPropertyPlantEquipment 2022-12-31 12918213 core:OtherPropertyPlantEquipment 2023-12-31 12918213 bus:OrdinaryShareClass1 2023-12-31 12918213 2023-01-01 2023-12-31 12918213 bus:FilletedAccounts 2023-01-01 2023-12-31 12918213 bus:SmallEntities 2023-01-01 2023-12-31 12918213 bus:AuditExemptWithAccountantsReport 2023-01-01 2023-12-31 12918213 bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 12918213 bus:Director1 2023-01-01 2023-12-31 12918213 bus:Director2 2023-01-01 2023-12-31 12918213 bus:Director3 2023-01-01 2023-12-31 12918213 core:OtherPropertyPlantEquipment core:TopRangeValue 2023-01-01 2023-12-31 12918213 2022-01-01 2022-12-31 12918213 core:OtherPropertyPlantEquipment 2023-01-01 2023-12-31 12918213 bus:OrdinaryShareClass1 2023-01-01 2023-12-31 12918213 bus:OrdinaryShareClass1 2022-01-01 2022-12-31 12918213 1 2023-01-01 2023-12-31 iso4217:GBP xbrli:pure xbrli:shares

Company No: 12918213 (England and Wales)

PATH PRODUCTIONS LIMITED

Unaudited Financial Statements
For the financial year ended 31 December 2023
Pages for filing with the registrar

PATH PRODUCTIONS LIMITED

Unaudited Financial Statements

For the financial year ended 31 December 2023

Contents

PATH PRODUCTIONS LIMITED

COMPANY INFORMATION

For the financial year ended 31 December 2023
PATH PRODUCTIONS LIMITED

COMPANY INFORMATION (continued)

For the financial year ended 31 December 2023
DIRECTORS William Samuel Arrowsmith
Simon Dominic Ingram
Paula Jayne Miller
SECRETARY Paula Jayne Miller
REGISTERED OFFICE Praxis
1 Poultry
London
EC2R 8EJ
United Kingdom
COMPANY NUMBER 12918213 (England and Wales)
CHARTERED ACCOUNTANTS Praxis
1 Poultry
London
EC2R 8EJ
United Kingdom
PATH PRODUCTIONS LIMITED

BALANCE SHEET

As at 31 December 2023
PATH PRODUCTIONS LIMITED

BALANCE SHEET (continued)

As at 31 December 2023
Note 2023 2022
£ £
Fixed assets
Tangible assets 3 668 1,053
668 1,053
Current assets
Debtors 4 68,715 35,258
Cash at bank and in hand 8,841 41,972
77,556 77,230
Creditors: amounts falling due within one year 5 ( 65,240) ( 74,834)
Net current assets 12,316 2,396
Total assets less current liabilities 12,984 3,449
Net assets 12,984 3,449
Capital and reserves
Called-up share capital 6 1 1
Profit and loss account 12,983 3,448
Total shareholder's funds 12,984 3,449

For the financial year 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 PATH Productions Limited (registered number: 12918213) were approved and authorised for issue by the Board of Directors on 30 August 2024. They were signed on its behalf by:

Paula Jayne Miller
Director
PATH PRODUCTIONS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 2023
PATH PRODUCTIONS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 2023
1. Accounting policies

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

General information and basis of accounting

PATH Productions 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 Praxis, 1 Poultry, London, EC2R 8EJ, 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 £.

Going concern

The directors have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Change in accounting policies

Certain costs have been recategorised this year from administrative expenses to cost of sales as this was considered more appropriate. 2022 figures have also been reclassified.

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 Statement of Income and Retained Earnings 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.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Plant and machinery etc. 4 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

Equity instruments
Equity instruments issued by the Company are recorded at the fair value of cash or other resources received or receivable, net of direct issue costs. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the Company.

2. Employees

2023 2022
Number Number
Monthly average number of persons employed by the Company during the year, including directors 0 0

3. Tangible assets

Plant and machinery etc. Total
£ £
Cost
At 01 January 2023 1,540 1,540
At 31 December 2023 1,540 1,540
Accumulated depreciation
At 01 January 2023 487 487
Charge for the financial year 385 385
At 31 December 2023 872 872
Net book value
At 31 December 2023 668 668
At 31 December 2022 1,053 1,053

4. Debtors

2023 2022
£ £
Trade debtors 59,597 1,840
Amounts owed by Group undertakings 0 31,987
Other debtors 9,118 1,431
68,715 35,258

5. Creditors: amounts falling due within one year

2023 2022
£ £
Trade creditors 0 3,027
Amounts owed to Group undertakings 31,361 48,891
Taxation and social security ( 161) 0
Other creditors 34,040 22,916
65,240 74,834

6. Called-up share capital

2023 2022
£ £
Allotted, called-up and fully-paid
1 Ordinary share of £ 1.00 1 1

7. Financial commitments

The Company had no material capital commitments at the year ended 31 December 2023.

8. Events after the Balance Sheet date

There have been no events after the balance sheet date affecting the Company since the financial year.