GREAT PATH LTD

Company Registration Number:
12467469 (England and Wales)

Unaudited statutory accounts for the year ended 31 December 2022

Period of accounts

Start date: 1 January 2022

End date: 31 December 2022

GREAT PATH LTD

Contents of the Financial Statements

for the Period Ended 31 December 2022

Directors report
Profit and loss
Balance sheet
Additional notes
Balance sheet notes

GREAT PATH LTD

Directors' report period ended 31 December 2022

The directors present their report with the financial statements of the company for the period ended 31 December 2022

Principal activities of the company

Great Path Ltd – Directors’ Report To the Registrar I present my report, along with the financial statements, for the year ended 31 December 2022. Principal Activities The principal activity of the company during the reporting period was the manufacture of skincare products. Director I have served as the sole director of the company throughout the financial year. Statement of Compliance This report has been prepared in accordance with the provisions applicable to companies subject to the small companies regime, as set out in Part 15 of the Companies Act 2006. Approval of Report Signed on behalf of the board, R.O. Adeniyi Director 11 March 2025



Directors

The director shown below has held office during the whole of the period from
1 January 2022 to 31 December 2022

Rukayat Oyindamola Adeniyi


The above report has been prepared in accordance with the special provisions in part 15 of the Companies Act 2006

This report was approved by the board of directors on
11 March 2025

And signed on behalf of the board by:
Name: Rukayat Oyindamola Adeniyi
Status: Director

GREAT PATH LTD

Profit And Loss Account

for the Period Ended 31 December 2022

2022 10 months to 31 December 2021


£

£
Turnover: 10 27
Cost of sales: ( 10,881 ) ( 15,661 )
Gross profit(or loss): (10,871) (15,634)
Distribution costs: ( 15,440 ) ( 6,078 )
Administrative expenses: ( 19,948 ) ( 55,483 )
Operating profit(or loss): (46,259) (77,195)
Interest payable and similar charges: ( 90 )
Profit(or loss) before tax: (46,259) (77,285)
Profit(or loss) for the financial year: (46,259) (77,285)

GREAT PATH LTD

Balance sheet

As at 31 December 2022

Notes 2022 10 months to 31 December 2021


£

£
Fixed assets
Tangible assets: 3 842 1,181
Total fixed assets: 842 1,181
Current assets
Debtors: 4 2,000 2,832
Cash at bank and in hand: 1,000 628
Total current assets: 3,000 3,460
Creditors: amounts falling due within one year: 5 ( 136,117 ) ( 104,117 )
Net current assets (liabilities): (133,117) (100,657)
Total assets less current liabilities: (132,275) ( 99,476)
Total net assets (liabilities): (132,275) (99,476)
Capital and reserves
Called up share capital: 1 1
Profit and loss account: (132,276 ) (99,477 )
Total Shareholders' funds: ( 132,275 ) (99,476)

The notes form part of these financial statements

GREAT PATH LTD

Balance sheet statements

For the year ending 31 December 2022 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

This report was approved by the board of directors on 11 March 2025
and signed on behalf of the board by:

Name: Rukayat Oyindamola Adeniyi
Status: Director

The notes form part of these financial statements

GREAT PATH LTD

Notes to the Financial Statements

for the Period Ended 31 December 2022

  • 1. Accounting policies

    Basis of measurement and preparation

    These financial statements have been prepared in accordance with the provisions of Financial Reporting Standard 101

    Turnover policy

    Turnover is measured at the fair value of the consideration received or receivable. Turnover is reduced for estimated customer returns, rebates and other similar allowances. Revenue from the sale of goods is recognised when all the following conditions are satisfied: 1. the Company has transferred to the buyer the significant risks and rewards of ownership of the goods; 2. the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold; 3. the amount of revenue can be measured reliably; 4. it is probable that the economic benefits associated with the transaction will flow to the Company; and 5.the costs incurred or to be incurred in respect of the transaction can be measured reliably. Specifically, revenue from the sale of goods is recognised when goods are delivered and legal title is passed.

    Tangible fixed assets depreciation policy

    Tangible fixed assets held for the company's own use are stated at cost less accumulated depreciation and accumulated impairment losses. At each balance sheet date, the company reviews the carrying amount of its tangible fixed assets to determine whether there is any indication that any items have suffered an impairment loss. If any such indication exists, the recoverable amount of an asset is estimated in order to determine the extent of the impairment loss. Depreciation is provided at the following annual rates in order to write off the cost or valuation less the estimated residual value of each asset over its estimated useful life: Furniture, fittings and equipment 25% Reducing balance

    Other accounting policies

    Taxation Income tax expense represents the sum of the tax currently payable and deferred tax. The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the profit and loss account because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The Company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period. Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable temporary differences. Deferred tax assets are generally recognised for all deductible timing differences to the extent that it is probable that taxable profits will be available against which those deductible temporary differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Current or deferred tax for the year is recognised in profit or loss, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively. Trade and other debtors Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method, less impairment losses for bad and doubtful debts. Trade and other creditors Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

GREAT PATH LTD

Notes to the Financial Statements

for the Period Ended 31 December 2022

  • 2. Employees

    2022 10 months to 31 December 2021
    Average number of employees during the period 3 3

GREAT PATH LTD

Notes to the Financial Statements

for the Period Ended 31 December 2022

3. Tangible assets

Land & buildings Plant & machinery Fixtures & fittings Office equipment Motor vehicles Total
Cost £ £ £ £ £ £
At 1 January 2022 1,651 1,651
Additions 0 0
Disposals
Revaluations
Transfers
At 31 December 2022 1,651 1,651
Depreciation
At 1 January 2022 470 470
Charge for year 339 339
On disposals
Other adjustments
At 31 December 2022 809 809
Net book value
At 31 December 2022 842 842
At 31 December 2021 1,181 1,181

GREAT PATH LTD

Notes to the Financial Statements

for the Period Ended 31 December 2022

4. Debtors

2022 10 months to 31 December 2021
£ £
Other debtors 2,000 2,832
Total 2,000 2,832

GREAT PATH LTD

Notes to the Financial Statements

for the Period Ended 31 December 2022

5. Creditors: amounts falling due within one year note

2022 10 months to 31 December 2021
£ £
Trade creditors 23,820 18,228
Taxation and social security 83 68
Accruals and deferred income 540 780
Other creditors 111,674 85,041
Total 136,117 104,117

Other creditors include Loans from director of £ 100128 for the year 2022.