Caseware UK (AP4) 2024.0.164 2024.0.164 2024-09-302024-09-302023-10-01falseThe principal activity of the Company during the year was that of an information technology training provider for IBM based products.57truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 08686632 2023-10-01 2024-09-30 08686632 2022-10-01 2023-09-30 08686632 2024-09-30 08686632 2023-09-30 08686632 c:Director3 2023-10-01 2024-09-30 08686632 d:FurnitureFittings 2023-10-01 2024-09-30 08686632 d:FurnitureFittings 2024-09-30 08686632 d:FurnitureFittings 2023-09-30 08686632 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-10-01 2024-09-30 08686632 d:OfficeEquipment 2023-10-01 2024-09-30 08686632 d:OfficeEquipment 2024-09-30 08686632 d:OfficeEquipment 2023-09-30 08686632 d:OfficeEquipment d:OwnedOrFreeholdAssets 2023-10-01 2024-09-30 08686632 d:ComputerEquipment 2023-10-01 2024-09-30 08686632 d:OwnedOrFreeholdAssets 2023-10-01 2024-09-30 08686632 d:CurrentFinancialInstruments 2024-09-30 08686632 d:CurrentFinancialInstruments 2023-09-30 08686632 d:Non-currentFinancialInstruments 2024-09-30 08686632 d:Non-currentFinancialInstruments 2023-09-30 08686632 d:CurrentFinancialInstruments d:WithinOneYear 2024-09-30 08686632 d:CurrentFinancialInstruments d:WithinOneYear 2023-09-30 08686632 d:Non-currentFinancialInstruments d:AfterOneYear 2024-09-30 08686632 d:Non-currentFinancialInstruments d:AfterOneYear 2023-09-30 08686632 d:ShareCapital 2024-09-30 08686632 d:ShareCapital 2023-09-30 08686632 d:RetainedEarningsAccumulatedLosses 2024-09-30 08686632 d:RetainedEarningsAccumulatedLosses 2023-09-30 08686632 c:OrdinaryShareClass1 2023-10-01 2024-09-30 08686632 c:OrdinaryShareClass1 2024-09-30 08686632 c:OrdinaryShareClass1 2023-09-30 08686632 c:OrdinaryShareClass2 2023-10-01 2024-09-30 08686632 c:OrdinaryShareClass2 2024-09-30 08686632 c:OrdinaryShareClass2 2023-09-30 08686632 c:OrdinaryShareClass3 2023-10-01 2024-09-30 08686632 c:OrdinaryShareClass3 2024-09-30 08686632 c:OrdinaryShareClass3 2023-09-30 08686632 c:FRS102 2023-10-01 2024-09-30 08686632 c:AuditExempt-NoAccountantsReport 2023-10-01 2024-09-30 08686632 c:FullAccounts 2023-10-01 2024-09-30 08686632 c:PrivateLimitedCompanyLtd 2023-10-01 2024-09-30 08686632 e:PoundSterling 2023-10-01 2024-09-30 iso4217:GBP xbrli:shares xbrli:pure

Registered number: 08686632









SHORTEST PATH TRAINING LIMITED







UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2024

 
SHORTEST PATH TRAINING LIMITED
REGISTERED NUMBER: 08686632

BALANCE SHEET
AS AT 30 SEPTEMBER 2024

2024
2023
Note
£
£

FIXED ASSETS
  

Tangible assets
 4 
425
1,385

  
425
1,385

CURRENT ASSETS
  

Debtors: amounts falling due within one year
 5 
15,833
43,706

Cash at bank and in hand
  
133,564
40,778

  
149,397
84,484

Creditors: amounts falling due within one year
 6 
(34,140)
(64,274)

NET CURRENT ASSETS
  
 
 
115,257
 
 
20,210

TOTAL ASSETS LESS CURRENT LIABILITIES
  
115,682
21,595

Creditors: amounts falling due after more than one year
 7 
-
(46,667)

  

NET ASSETS/(LIABILITIES)
  
115,682
(25,072)


CAPITAL AND RESERVES
  

Called up share capital 
 8 
10
10

Profit and loss account
  
115,672
(25,082)

  
115,682
(25,072)


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.
Page 1

 
SHORTEST PATH TRAINING LIMITED
REGISTERED NUMBER: 08686632
    
BALANCE SHEET (CONTINUED)
AS AT 30 SEPTEMBER 2024


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: 




M Fleet
Director

Date: 17 June 2025

The notes on pages 3 to 8 form part of these financial statements.

Page 2

 
SHORTEST PATH TRAINING LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

1.


GENERAL INFORMATION

Shortest Path Training Limited is a private company limited by shares and incorporated in England and Wales. Its registered office is 24 Wordsworth Grove, Cambridge, England, CB3 9HH.
The functional and presentational currency of the Company is GBP. 

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

FOREIGN CURRENCY TRANSLATION

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.

Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Statement of Income and Retained Earnings within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.

 
2.3

TURNOVER

Turnover comprises revenue recognised by the Company in respect of services supplied during the year, exclusive of Value Added Tax.

Page 3

 
SHORTEST PATH TRAINING LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

2.ACCOUNTING POLICIES (CONTINUED)

 
2.4

TANGIBLE FIXED ASSETS

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Fixtures and fittings
-
25%
straight line
Computer equipment
-
25%
straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.5

DEBTORS

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.6

CASH AND CASH EQUIVALENTS

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.7

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.

 
2.8

DIVIDENDS

Equity dividends are recognised when they become legally payable.

Page 4

 
SHORTEST PATH TRAINING LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

2.ACCOUNTING POLICIES (CONTINUED)

 
2.9

PENSIONS

DEFINED CONTRIBUTION PENSION PLAN

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
2.10

BORROWING COSTS

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
2.11

TAXATION

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.



3.


EMPLOYEES

The average monthly number of employees, including directors, during the year was 5 (2023 - 7).

Page 5

 
SHORTEST PATH TRAINING LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

4.


TANGIBLE FIXED ASSETS





Fixtures and fittings
Computer equipment
Total

£
£
£



COST OR VALUATION


At 1 October 2023
9,055
33,542
42,597


Disposals
(4,184)
(5,080)
(9,264)



At 30 September 2024

4,871
28,462
33,333



DEPRECIATION


At 1 October 2023
8,581
32,631
41,212


Charge for the year on owned assets
302
438
740


Disposals
(4,150)
(4,894)
(9,044)



At 30 September 2024

4,733
28,175
32,908



NET BOOK VALUE



At 30 September 2024
138
287
425



At 30 September 2023
474
911
1,385

Page 6

 
SHORTEST PATH TRAINING LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

5.


DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024
2023
£
£


Trade debtors
5,405
11,312

Other debtors
6,839
5,899

Prepayments and accrued income
3,589
26,495

15,833
43,706



6.


CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024
2023
£
£

Bank loans
-
28,000

Trade creditors
26,702
6,487

Other taxation and social security
-
6,327

Other creditors
3,000
17,256

Accruals and deferred income
4,438
6,204

34,140
64,274


Bank loans comprise a Government backed Coronavirus Business Interruption Loan (CBILS), which was drawn down in May 2020. The loan is 80% guaranteed by the Government. Interest and fees payable in the first 12 months were covered by Government. Interest is charged at 4.21% over base rate per annum. Repayments commenced after the first 12 months had elapsed and the first instalment was paid in June 2021. The loan was cleared during the year. 
Other creditors includes contributions of £Nil (2023 - £1,249) payable to the Company's defined contribution pension scheme at the balance sheet date. 


7.


CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2024
2023
£
£

Bank loans
-
46,667


Bank loans comprise a Government backed Coronavirus Business Interruption Loan (CBILS), which was drawn down in May 2020. The loan is 80% guaranteed by the Government. Interest and fees payable in the first 12 months were covered by Government. Interest is charged at 4.21% over base rate per annum. Repayments commenced after the first 12 months had elapsed and the first instalment was paid in June 2021. The loan was cleared during the year. 

Page 7

 
SHORTEST PATH TRAINING LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

8.


SHARE CAPITAL

2024
2023
£
£
ALLOTTED, CALLED UP AND FULLY PAID



350 (2023 - 350) Ordinary A shares of £0.01 each
3.50
3.50
350 (2023 - 350) Ordinary B shares of £0.01 each
3.50
3.50
300 (2023 - 300) Ordinary C shares of £0.01 each
3.00
3.00

10.00

10.00


 
Page 8