ACCOUNTS - Final Accounts preparation

Registered number: 13138746

	UNAUDITED FINANCIAL STATEMENTS
	FOR THE YEAR ENDED 31 MAY 2025

	PATHWAY (MARTELLO) LIMITED


PATHWAY (MARTELLO) LIMITED

COMPANY INFORMATION

Directors	S C Philpot
	M P Ruckwood


Registered number	13138746


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 (MARTELLO) LIMITED

CONTENTS

	Page
Statement of financial position	1 - 2
Notes to the financial statements	3 - 4


PATHWAY (MARTELLO) LIMITED REGISTERED NUMBER:13138746

STATEMENT OF FINANCIAL POSITION

AS AT 31 MAY 2025

		2025		2024
Note		£		£


Current assets
Stocks		1,075,336		2,114,926
Debtors: amounts falling due within one year	4	1,469,965		2,310,019
Cash at bank and in hand		56,479		1,789
		2,601,780		4,426,734
Creditors: amounts falling due within one year		(3,339,276)		(5,265,568)
Net current liabilities			(737,496)		(838,834)
Total assets less current liabilities			(737,496)		(838,834)

Net liabilities			(737,496)		(838,834)

Capital and reserves
Called up share capital	100	100
Profit and loss account	(737,596)	(838,934)
	(737,496)	(838,834)

Page 1


PATHWAY (MARTELLO) LIMITED REGISTERED NUMBER:13138746

STATEMENT OF FINANCIAL POSITION (CONTINUED)

AS AT 31 MAY 2025

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: 29 May 2026

The notes on pages 3 to 4 form part of these financial statements.

Page 2


PATHWAY (MARTELLO) LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2025

1.	General information

Pathway (Martello) Limited is a private company, limited by shares, registered in England and Wales. The company's registered office address and principle place of business are shown 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

Going concern

At the balance sheet date of 31 May 2025, the company shows a deficiency of total assets over liabilities of £737,496 (2024: £838,834). 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.

2.3

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.

2.4

Interest income

Interest income is recognised in profit or loss using the effective interest method.

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.

2.6

Stocks

Work in progress on property developments are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell.

At each reporting date, work in progress 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.

Page 3


PATHWAY (MARTELLO) LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2025

2.Accounting policies (continued)

2.7

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.

Employees

The average monthly number of employees, including directors, during the year was 2 (2024 -2).

Debtors

					2025	2024
					£	£


Other debtors	1,404,777	2,308,101
Prepayments and accrued income	65,188	1,918
	1,469,965	2,310,019

5.	Related party transactions
	Included in debtors is £1,379,033 (2024 - £2,302,385) of funding provided to related party businesses in which the directors have a controlling interest. Included in creditors is £586,138 (2024 - £407,826) of funding received from related party businesses in which the directors have a controlling interest.

Page 4