2023-04-012024-03-312024-03-31false04385291PATH RECRUITMENT 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PATH RECRUITMENT LIMITED

Registered Number
04385291
(England and Wales)

Unaudited Financial Statements for the Year ended
31 March 2024

PATH RECRUITMENT LIMITED
Company Information
for the year from 1 April 2023 to 31 March 2024

Directors

HORTON, Ian
HORTON, Jacqueline

Company Secretary

HORTON, Ian

Registered Address

35/37 St. Leonards Road
Northampton
NN4 8DL

Registered Number

04385291 (England and Wales)
PATH RECRUITMENT LIMITED
Balance Sheet as at
31 March 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets315,96217,671
15,96217,671
Current assets
Stocks4-9,825
Debtors5287,225285,044
Cash at bank and on hand203,25882,090
490,483376,959
Creditors amounts falling due within one year6(171,490)(115,956)
Net current assets (liabilities)318,993261,003
Total assets less current liabilities334,955278,674
Creditors amounts falling due after one year7(20,717)(31,365)
Provisions for liabilities8(3,033)(3,357)
Net assets311,205243,952
Capital and reserves
Called up share capital1,4001,400
Profit and loss account309,805242,552
Shareholders' funds311,205243,952
The financial statements were approved and authorised for issue by the Board of Directors on 1 October 2024, and are signed on its behalf by:
HORTON, Ian
Director
Registered Company No. 04385291
PATH RECRUITMENT LIMITED
Notes to the Financial Statements
for the year ended 31 March 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
Revenue from sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Employee benefits
Contributions to defined contribution plans are expensed in the period to which they relate.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Deferred tax
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:

Straight line (years)
Fixtures and fittings5
Office Equipment3
Stocks and work in progress
Stocks are valued at the lower of cost and estimated selling price (less any associated costs to enable such sales to complete).
2.Average number of employees

20242023
Average number of employees during the year1212
3.Tangible fixed assets

Fixtures & fittings

Office Equipment

Total

£££
Cost or valuation
At 01 April 239,78336,50146,284
Additions3,3671,7705,137
At 31 March 2413,15038,27151,421
Depreciation and impairment
At 01 April 239,24219,37128,613
Charge for year3466,4996,845
Other adjustments-11
At 31 March 249,58825,87135,459
Net book value
At 31 March 243,56212,40015,962
At 31 March 2354117,13017,671
4.Stocks

2024

2023

££
Work in progress-9,825
Total-9,825
5.Debtors: amounts due within one year

2024

2023

££
Trade debtors / trade receivables117,476139,795
Other debtors153,178142,771
Prepayments and accrued income16,5712,478
Total287,225285,044
6.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables24,84314,184
Taxation and social security138,06385,606
Other creditors8,58416,166
Total171,490115,956
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
7.Creditors: amounts due after one year

2024

2023

££
Bank borrowings and overdrafts20,71731,365
Total20,71731,365
8.Provisions for liabilities

2024

2023

££
Net deferred tax liability (asset)3,0333,357
Total3,0333,357
9.Directors advances, credits and guarantees

Brought forward

Amount advanced

Amount repaid

Carried forward

££££
HORTON, Ian55,42620,91410,50765,833
55,42620,91410,50765,833