Company Registration No. 08613187 (England and Wales)
Bidpath Limited
Unaudited accounts
for the year ended 31 December 2024
Bidpath Limited
Unaudited accounts
Contents
Bidpath Limited
Company Information
for the year ended 31 December 2024
Directors
Adam Frank Alexander
David Brindley
Company Number
08613187 (England and Wales)
Registered Office
607 Metropolitan Wharf Building
70 Wapping Wall
London
E1W 3SS
England
Accountants
Pure Cloud Accountancy Limited
Bidpath Limited
Statement of financial position
as at 31 December 2024
Intangible assets
414,862
857,625
Tangible assets
36,125
5,505
Investments
998,366
998,366
Cash at bank and in hand
162,533
103,962
Creditors: amounts falling due within one year
(1,119,626)
(1,090,553)
Net current liabilities
(173,725)
(209,561)
Total assets less current liabilities
1,275,628
1,651,935
Creditors: amounts falling due after more than one year
(2,527,202)
(2,682,318)
Net liabilities
(1,251,574)
(1,030,383)
Called up share capital
100
100
Profit and loss account
(1,251,674)
(1,030,483)
Shareholders' funds
(1,251,574)
(1,030,383)
For the year ending 31 December 2024 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 and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 25 September 2025 and were signed on its behalf by
David Brindley
Director
Company Registration No. 08613187
Bidpath Limited
Notes to the Accounts
for the year ended 31 December 2024
Bidpath Limited is a private company, limited by shares, registered in England and Wales, registration number 08613187. The registered office is 607 Metropolitan Wharf Building, 70 Wapping Wall, London, E1W 3SS, England.
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Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
The company has taken advantage of the option not to prepare consolidated financial statement contained in Section 398 of the Companies Act 2006 on the basis that the company and its subsidiaries comprise a small group.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported for assets and liabilities as at the date of the statement of financial position and the amounts reported for revenues and expenses during the year. However, the nature of estimation means that actual
outcomes could differ from those estimates. Details of these judgements are set out in the accounting policies.
The directors, having made due careful enquiry, are of the opinion that the company has sufficient working capital to execute its operations over the next 12 months. The directors have made an informed judgement at the time of approving the financial statements that the company has adequate resources to continue in operational existence for the foreseeable future.
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 the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. 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.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Motor vehicles
25% reducing balance
Computer equipment
25% straight line
Bidpath Limited
Notes to the Accounts
for the year ended 31 December 2024
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
Listed Investments in shares are included at fair value with changes in fair value being recognised in profit or loss.
Dividends received from investments are recognised as income.
Goodwill arises on business acquisitions and represents the excess of the cost of acquisition over the company's interest in the net amount of identifiable assets, liabilities and contingent liabilities of the acquired business.
Goodwill is included at cost less accumulated amortisation.
Amortisation is calculated so as to write off the cost of the asset, less estimated residual value, over the useful life of the asset;
Goodwill - 25% straight line
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rates of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
A financial asset or financial liability is recognised only when the entity becomes a party to the contractual provision of the instrument.
Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
Debt instruments are subsequently measured at amortised cost.
Bidpath Limited
Notes to the Accounts
for the year ended 31 December 2024
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period.
Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively.
Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or
substantively enacted at the reporting date.
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
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Intangible fixed assets
Goodwill
At 1 January 2024
2,066,051
At 31 December 2024
2,066,051
At 1 January 2024
1,208,426
Charge for the year
442,763
At 31 December 2024
1,651,189
At 31 December 2024
414,862
At 31 December 2023
857,625
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Tangible fixed assets
Plant & machinery
At 31 December 2024
49,005
At 31 December 2024
12,880
At 31 December 2024
36,125
Bidpath Limited
Notes to the Accounts
for the year ended 31 December 2024
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Investments
Subsidiary undertakings
Valuation at 1 January 2024
998,366
Valuation at 31 December 2024
998,366
Amounts falling due within one year
Trade debtors
156,244
208,834
Amounts due from group undertakings etc.
81,586
81,342
Accrued income and prepayments
545,438
486,754
8
Creditors: amounts falling due within one year
2024
2023
Trade creditors
72,703
137,785
Amounts owed to group undertakings and other participating interests
552,074
563,321
Taxes and social security
32,149
42,369
Other creditors
4,544
228,974
9
Creditors: amounts falling due after more than one year
2024
2023
Amounts owed to group undertakings and other participating interests
2,527,202
2,682,318
10
Average number of employees
During the year the average number of employees was 14 (2023: 15).