Acorah Software Products - Accounts Production 16.3.350 false true true 31 March 2024 1 April 2023 false 1 April 2024 31 March 2025 31 March 2025 SC623698 Mr William Flood Miss Antoinette Griffin iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure SC623698 2024-03-31 SC623698 2025-03-31 SC623698 2024-04-01 2025-03-31 SC623698 frs-core:CurrentFinancialInstruments 2025-03-31 SC623698 frs-core:SharePremium 2025-03-31 SC623698 frs-core:ShareCapital 2025-03-31 SC623698 frs-core:RetainedEarningsAccumulatedLosses 2025-03-31 SC623698 frs-bus:PrivateLimitedCompanyLtd 2024-04-01 2025-03-31 SC623698 frs-bus:FilletedAccounts 2024-04-01 2025-03-31 SC623698 frs-bus:SmallEntities 2024-04-01 2025-03-31 SC623698 frs-bus:AuditExempt-NoAccountantsReport 2024-04-01 2025-03-31 SC623698 frs-bus:SmallCompaniesRegimeForAccounts 2024-04-01 2025-03-31 SC623698 frs-bus:Director1 2024-04-01 2025-03-31 SC623698 frs-bus:Director2 2024-04-01 2025-03-31 SC623698 frs-countries:Scotland 2024-04-01 2025-03-31 SC623698 2023-03-31 SC623698 2024-03-31 SC623698 2023-04-01 2024-03-31 SC623698 frs-core:CurrentFinancialInstruments 2024-03-31 SC623698 frs-core:SharePremium 2024-03-31 SC623698 frs-core:ShareCapital 2024-03-31 SC623698 frs-core:RetainedEarningsAccumulatedLosses 2024-03-31
Registered number: SC623698
Pathway Sports Management Ltd
Unaudited Financial Statements
For The Year Ended 31 March 2025
Glass Accountancy
Contents
Page
Balance Sheet 1
Notes to the Financial Statements 2—3
Page 1
Balance Sheet
Registered number: SC623698
2025 2024
Notes £ £ £ £
CURRENT ASSETS
Debtors 4 586 43,664
Cash at bank and in hand 52,191 149,179
52,777 192,843
Creditors: Amounts Falling Due Within One Year 5 (58,565 ) (178,906 )
NET CURRENT ASSETS (LIABILITIES) (5,788 ) 13,937
TOTAL ASSETS LESS CURRENT LIABILITIES (5,788 ) 13,937
NET (LIABILITIES)/ASSETS (5,788 ) 13,937
CAPITAL AND RESERVES
Called up share capital 6 105 105
Share premium account 2,352 2,352
Profit and Loss Account (8,245 ) 11,480
SHAREHOLDERS' FUNDS (5,788) 13,937
For the year ending 31 March 2025 the company was entitled to exemption from audit 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.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr William Flood
Director
25/04/2025
The notes on pages 2 to 3 form part of these financial statements.
Page 1
Page 2
Notes to the Financial Statements
1. General Information
Pathway Sports Management Ltd is a private company, limited by shares, incorporated in Scotland, registered number SC623698 . The registered office is 1 C/O Glass Accountancy, Duddingston Yards, Duddingston Park South, EH15 3NT.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Going Concern Disclosure
The directors have not identified any material uncertainties related to events or conditions that may cast significant doubt about the company's ability to continue as a going concern. The balance sheet is negative due to the tax accrual and the directors can confirm that the balance sheet is positive at the time of signing the accounts. The outlook for the next twelve months is that the company has positive cashflow and the balance sheet will be positive.
2.3. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.4. 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 statement of comprehensive income because of items of income or expense that are taxable or deductible in other year 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 timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing 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. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and asset reflects the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related 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.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 2 (2024: 2)
2 2
Page 2
Page 3
4. Debtors
2025 2024
£ £
Due within one year
Trade debtors (1 ) 41,999
Other debtors 100 100
Other taxes and social security - 931
Directors' loan accounts 487 634
586 43,664
5. Creditors: Amounts Falling Due Within One Year
2025 2024
£ £
Trade creditors 529 382
Bank loans and overdrafts 2,596 2,929
Corporation tax 39,351 51,944
VAT 16,089 33,486
Net wages - 165
Accruals and deferred income - 90,000
58,565 178,906
6. Share Capital
2025 2024
£ £
Allotted, Called up and fully paid 105 105
Page 3