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Company registration number: 06604524
| UNAUDITED FINANCIAL STATEMENTS
| FOR THE YEAR ENDED 31 MAY 2025
| PATHWAY DEVELOPMENTS LIMITED
PATHWAY DEVELOPMENTS LIMITED |  |
COMPANY INFORMATION
Directors | S C Philpot
| M P Ruckwood
Registered number | 06604524
Registered office | Bank Court
| 12A Manor Road
| Verwood
| Dorset
| BH31 6DY
Trading Address | 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 DEVELOPMENTS LIMITED |  |
CONTENTS
| Page
Statement of financial position | 1
Notes to the financial statements | 2 - 5
PATHWAY DEVELOPMENTS LIMITED REGISTERED NUMBER:06604524 |  |
STATEMENT OF FINANCIAL POSITION AS AT 31 MAY 2025
|  | 2025 |  | 2024
Note |  | £ |  | £
Fixed assets |  |  |  |  |
Tangible assets | 4 |  | 3,834 |  | 5,113
Investments | 5 |  | 4 |  | 9
|  |  | 3,838 |  | 5,122
Current assets |  |  |  |  |
Debtors: amounts falling due within one year | 6 | 2,948,550 |  | 2,947,327 |
Cash at bank and in hand |  | 2,138 |  | 4,514 |
|  | 2,950,688 |  | 2,951,841 |
Creditors: amounts falling due within one year | 7 | (5,627,300) |  | (5,748,304) |
Net current liabilities |  |  | (2,676,612) |  | (2,796,463)
Total assets less current liabilities |  |  | (2,672,774) |  | (2,791,341)
Net liabilities |  |  | (2,672,774) |  | (2,791,341)
Capital and reserves |  |  |  |  |
Called up share capital |  |  | 1,000 |  | 1,000
Profit and loss account |  |  | (2,673,774) |  | (2,792,341)
|  |  | (2,672,774) |  | (2,791,341)
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: 22 May 2026
The notes on pages 2 to 5 form part of these financial statements. Page 1
PATHWAY DEVELOPMENTS LIMITED |  |
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2025
1. | General information
Pathway Developments 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 Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and 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 | Exemption from preparing consolidated financial statements
The company, and the Group headed by it, qualify as small as set out in section 383 of the Companies Act 2006 and the parent and Group are considered eligible for the exemption to prepare consolidated accounts.
| 2.3 | Going concern
At the balance sheet date of 31 May 2025, the company shows a deficiency of total assets over total liabilities of £2,672,774 (2024: £2,791,341). Due to the ongoing support of the directors, and expectation regarding future trading performance, the company expects to meet its liabilities as they fall due, the company has prepared its financial statements on a going concern basis.
| 2.4 | 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.
| 2.5 | Finance costs
Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument. Page 2
PATHWAY DEVELOPMENTS LIMITED |  |
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2025 2.Accounting policies (continued)
| 2.6 | 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, on a reducing balance basis. Depreciation is provided on the following basis:
|  |  |  | Motor vehicles | - | 25% | reducing balance
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.
| 2.7 | Valuation of investments
Investments in subsidiaries are measured at cost less accumulated impairment.
| 2.8 | 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.
3. | Employees
| The average monthly number of employees, including directors, during the year was 2 (2024 -2).
Page 3
PATHWAY DEVELOPMENTS LIMITED |  |
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2025
4. | Tangible fixed assets
|  | Motor vehicles
|  | £
| Cost or valuation |
| At 1 June 2024 | 38,311
| At 31 May 2025 | 38,311
| Depreciation |
| At 1 June 2024 | 33,198
| Charge for the year on owned assets | 1,279
| At 31 May 2025 | 34,477
| Net book value |
| At 31 May 2025 | 3,834
| At 31 May 2024 | 5,113
5. | Fixed asset investments
|  | Investments in subsidiary companies
|  | £
| Cost or valuation |
| At 1 June 2024 | 9
| Disposals | (5)
| At 31 May 2025 | 4
Page 4
PATHWAY DEVELOPMENTS LIMITED |  |
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2025
6. | Debtors
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Amounts owed by group undertakings | 2,626,932 | 2,602,620
| Other debtors | 286,618 | 309,707
| Prepayments and accrued income | 35,000 | 35,000
|  | 2,948,550 | 2,947,327
7. | Creditors: Amounts falling due within one year
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Trade creditors | 20,702 | 7,946
| Amounts owed to group undertakings | 79,139 | 753,149
| Other creditors | 5,513,189 | 4,976,209
| Accruals and deferred income | 14,270 | 11,000
|  | 5,627,300 | 5,748,304
8. | Related party transactions
| Included in other debtors is £283,901 (2024 - £302,581) of funding provided to related party businesses in which the directors have a controlling interest. Included in other creditors is £102,384 (2024 - £105,574) of funding received from related party businesses in which the directors have a controlling interest.
Page 5