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REGISTERED NUMBER: 10865782 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2024

FOR

FOURTHPATH LIMITED

FOURTHPATH LIMITED (REGISTERED NUMBER: 10865782)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


FOURTHPATH LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 JULY 2024







DIRECTORS: D Jenkins
C Jenkins





REGISTERED OFFICE: Chargrove House
Shurdington Road
Cheltenham
Gloucestershire
GL51 4GA





BUSINESS ADDRESS: 46 Clifton Gardens
West End
Southampton
Hampshire
SO18 3DA





REGISTERED NUMBER: 10865782 (England and Wales)





ACCOUNTANTS: Randall & Payne LLP
Chartered Accountants
Chargrove House
Shurdington Road
Cheltenham
Gloucestershire
GL51 4GA

FOURTHPATH LIMITED (REGISTERED NUMBER: 10865782)

BALANCE SHEET
31 JULY 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 4,388 5,909

CURRENT ASSETS
Debtors 5 33,692 129,850
Cash at bank 488,792 423,513
522,484 553,363
CREDITORS
Amounts falling due within one year 6 192,830 275,349
NET CURRENT ASSETS 329,654 278,014
TOTAL ASSETS LESS CURRENT
LIABILITIES

334,042

283,923

CREDITORS
Amounts falling due after more than one
year

7

(19,836

)

(29,921

)

PROVISIONS FOR LIABILITIES (1,097 ) (1,477 )
NET ASSETS 313,109 252,525

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 313,009 252,425
313,109 252,525

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

FOURTHPATH LIMITED (REGISTERED NUMBER: 10865782)

BALANCE SHEET - continued
31 JULY 2024


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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 25 October 2024 and were signed on its behalf by:




D Jenkins - Director



C Jenkins - Director


FOURTHPATH LIMITED (REGISTERED NUMBER: 10865782)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

1. STATUTORY INFORMATION

Fourthpath 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

Turnover from consulting is recognised when the service has been provided and all obligations to the customers have been fulfilled.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - Straight line over 6 years
Fixtures and fittings - 20% on reducing balance
Computer equipment - 33% on reducing balance

Financial instruments
Financial Instruments are classified by the directors as basic or advanced following the conditions in FRS 102 Section 11. Basic financial instruments are recognised at amortised cost using the effective interest method.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

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.

FOURTHPATH LIMITED (REGISTERED NUMBER: 10865782)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 2024

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

Provisions
Provisions are recognised only where a present obligation exists as a result of a past transaction or event at or prior to the balance sheet date. In addition, a provision is only recognised where the amounts involved can be reliably estimated. Where material, provisions are calculated on a discounted basis.

Going concern
There are no material uncertainties that may cast significant doubt about the company’s ability to continue as a going concern.

The company is in good financial health, with a greater spread of new clients and a pipeline of work for the next financial year.

Government grants
Government grants relating to tangible fixed assets are treated as deferred income and released to the profit and loss over the expected useful lives of the assets to which they relate. Government grants which are not directly attributable to fixed assets are recognised in the profit and loss in accordance with the accruals method in line with FRS 102.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Computer
machinery fittings equipment Totals
£    £    £    £   
COST
At 1 August 2023
and 31 July 2024 1,240 4,511 6,527 12,278
DEPRECIATION
At 1 August 2023 1,240 1,209 3,920 6,369
Charge for year - 661 860 1,521
At 31 July 2024 1,240 1,870 4,780 7,890
NET BOOK VALUE
At 31 July 2024 - 2,641 1,747 4,388
At 31 July 2023 - 3,302 2,607 5,909

FOURTHPATH LIMITED (REGISTERED NUMBER: 10865782)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 2024

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 13,289 97,070
Other debtors 496 496
Directors' loan accounts 2,257 4,467
Prepayments 17,650 27,817
33,692 129,850

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 32,984 31,913
Corporation Tax 57,246 52,253
Social security and other taxes 10 -
VAT 25,087 26,910
Other creditors 1,104 2,183
Accrued expenses 76,399 162,090
192,830 275,349

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans - 1-2 years 10,268 10,015
Bank loans - 2-5 years 9,568 19,906
19,836 29,921

8. OTHER FINANCIAL COMMITMENTS

The company entered into an agreement in the year for an electric vehicle lease for a period of 3 years commencing February 2024. The company had total commitments at the year end of £8,825 (2023: £nil).

9. TRANSACTIONS WITH DIRECTORS

The following advances and credits to directors subsisted during the years ended 31 July 2024 and 31 July 2023:

2024 2023
£    £   
D Jenkins and C Jenkins
Balance outstanding at start of year 4,467 (8,870 )
Amounts advanced 6,657 32,545
Amounts repaid (8,867 ) (19,208 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 2,257 4,467

Interest is being charged annually at the HMRC approved rate and there are no set repayment terms.