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REGISTERED NUMBER: 06844803 (England and Wales)















Audited Financial Statements

for the Year Ended

31 May 2024

for

Sitepath Limited

Sitepath Limited (Registered number: 06844803)

Contents of the Financial Statements
for the Year Ended 31 May 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Sitepath Limited

Company Information
for the Year Ended 31 May 2024







DIRECTORS: P S Gamble
S J Ball





REGISTERED OFFICE: 20 Lewisher Road
Leicester
Leicestershire
LE4 9LR





REGISTERED NUMBER: 06844803 (England and Wales)





AUDITORS: The Rowleys Partnership Ltd
Statutory Auditors
Chartered Accountants
Charnwood House
Harcourt Way
Meridian Business Park
Leicester
Leicestershire
LE19 1WP

Sitepath Limited (Registered number: 06844803)

Balance Sheet
31 May 2024

31.5.24 31.5.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 492,507 546,823

CURRENT ASSETS
Stocks 136,376 195,586
Debtors 5 156,813 168,256
Cash at bank and in hand 715,152 518,458
1,008,341 882,300
CREDITORS
Amounts falling due within one year 6 242,295 187,729
NET CURRENT ASSETS 766,046 694,571
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,258,553

1,241,394

PROVISIONS FOR LIABILITIES 14,558 19,724
NET ASSETS 1,243,995 1,221,670

CAPITAL AND RESERVES
Called up share capital 7 100 100
Retained earnings 1,243,895 1,221,570
SHAREHOLDERS' FUNDS 1,243,995 1,221,670

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 18 October 2024 and were signed on its behalf by:





P S Gamble - Director


Sitepath Limited (Registered number: 06844803)

Notes to the Financial Statements
for the Year Ended 31 May 2024


1. STATUTORY INFORMATION

Sitepath Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. 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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Sales are recognised at the earlier of the date of delivery or the date payment is received for goods.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - 4% on cost
Plant and machinery - 20% reducing balance

Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing stock to its present location and condition. Cost is calculated using the first-in, first-out formula. Provision is made for damaged, obsolete and slow-moving stock where appropriate.

Work in progress
Work in progress is valued on a basis of the cost of the raw materials utilised and cost of labour utilised to the stage of manufacture on an hourly rate.

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.


Sitepath Limited (Registered number: 06844803)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2024


2. ACCOUNTING POLICIES - continued
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.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 13 (2023 - 12 ) .

4. TANGIBLE FIXED ASSETS
Freehold Plant and
property machinery Totals
£    £    £   
COST
At 1 June 2023 756,798 399,102 1,155,900
Additions - 703 703
At 31 May 2024 756,798 399,805 1,156,603
DEPRECIATION
At 1 June 2023 332,992 276,085 609,077
Charge for year 30,272 24,747 55,019
At 31 May 2024 363,264 300,832 664,096
NET BOOK VALUE
At 31 May 2024 393,534 98,973 492,507
At 31 May 2023 423,806 123,017 546,823

Sitepath Limited (Registered number: 06844803)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2024


5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.24 31.5.23
£    £   
Trade debtors 94,390 112,112
Prepayments and accrued income 62,423 56,144
156,813 168,256

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.24 31.5.23
£    £   
Trade creditors 84,902 101,941
Corporation tax 19,900 14,455
Social security and other taxes 1,811 1,086
VAT 36,603 46,153
Other creditors 300 84
Accruals and deferred income 98,779 24,010
242,295 187,729

7. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.5.24 31.5.23
value: £    £   
100 Ordinary £1 100 100

8. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Matt Hutchinson FCA FCCA (Senior Statutory Auditor)
for and on behalf of The Rowleys Partnership Ltd