ACCOUNTS - Final Accounts preparation

Company registration number: 09530639

	UNAUDITED FINANCIAL STATEMENTS
	FOR THE YEAR ENDED 31 MAY 2024

	PATHWAY CONSTRUCTION LIMITED


PATHWAY CONSTRUCTION LIMITED

COMPANY INFORMATION

Directors	S C Philpot
	M P Ruckwood


Registered number	09530639


Registered office	Milewood House
	Hightown Hill
	Ringwood
	Hampshire
	BH24 3HE


Accountants	Menzies LLP
	Chartered Accountants
	Magna House
	18-32 London Road
	Staines-Upon-Thames
	TW18 4BP


PATHWAY CONSTRUCTION LIMITED

CONTENTS

	Page
Statement of financial position	1
Notes to the financial statements	2 - 4


PATHWAY CONSTRUCTION LIMITED REGISTERED NUMBER:09530639

STATEMENT OF FINANCIAL POSITION

AS AT 31 MAY 2024

		2024		2023
Note		£		£


Current assets
Stocks		809,860		1,966,712
Debtors: amounts falling due within one year	4	2,350,512		10,760
Cash at bank and in hand		6,481		6,378
		3,166,853		1,983,850
Creditors: amounts falling due within one year	5	(3,111,271)		(1,872,518)
Net current assets			55,582		111,332
Total assets less current liabilities			55,582		111,332
Creditors: amounts falling due after more than one year	6		(12,328)		(22,151)

Net assets			43,254		89,181

Capital and reserves
Called up share capital	1	1
Profit and loss account	43,253	89,180
	43,254	89,181

The directors consider that the company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by:

S C Philpot

Director

Date: 2 April 2025

The notes on pages 2 to 4 form part of these financial statements.

Page 1


PATHWAY CONSTRUCTION LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2024

1.	General information

Pathway Construction Limited is a private company, limited by shares, registered in England and Wales. The company's registered office address can be found on the Company Information page.
The presentational currency of the financial statements is the Pound Sterling (£).

2.Accounting policies

2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

2.2

Going concern

The financial statements have been prepared on a going concern basis. There have been no significant judgements and estimates used in the financial statements that have impacted upon this assessment.

2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

2.4

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each reporting date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

2.5

Financial instruments

The company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Basic financial assets

Basic financial assets, which include trade and other debtors, cash and bank balances, are initially measured at their transaction price (adjusted for transaction costs except in the initial measurement of financial assets that are subsequently measured at fair value through profit and loss) and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, 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.

Discounting is omitted where the effect of discounting is immaterial. The company's cash and cash equivalents, trade and most other debtors due with the operating cycle fall into this category of financial instruments.

Page 2


PATHWAY CONSTRUCTION LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2024

Employees

The average monthly number of employees, including directors, during the year was 2 (2023 - 2).

Debtors

					2024	2023
					£	£


Trade debtors	-	150
Amounts owed by group undertakings	25,225	-
Other debtors	-	8,000
Prepayments and accrued income	2,325,287	2,610
	2,350,512	10,760

5.	Creditors: Amounts falling due within one year
		2024	2023
		£	£

Bank loans	9,823	9,824
Trade creditors	5,068	105,795
Amounts owed to group undertakings	787,393	267,973
Other taxation and social security	1,227	-
Other creditors	2,303,505	1,484,671
Accruals and deferred income	4,255	4,255
	3,111,271	1,872,518

The loan amount of £9,823 (2023: £9,824) included within creditors, is guaranteed under the Bounce Back Loan Scheme (BBLS) by the UK Government.

6.	Creditors: Amounts falling due after more than one year
		2024	2023
		£	£

Bank loans	12,328	22,151
	12,328	22,151

The loan amount of £12,328 (2023: £22,151) included within creditors, is guaranteed under the Bounce Back Loan Scheme (BBLS) by the UK Government.

Page 3


PATHWAY CONSTRUCTION LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2024

7.	Related party transactions
	Included in other debtors is £nil (2023 - £8,000) of funding provided to related party businesses in which the directors have a controlling interest. Included in other creditors is £2,303,505 (2023 - £1,484,671) of funding received from related party businesses in which the directors have a controlling interest.

8.	Controlling party

The ultimate parent company is Pathway Developments Limited, a company registered in England & Wales, whose registered office is Milewood House, Hightown Hill, Hampshire, BH24 3HE.

Page 4