Company Registration No. 08501187 (England and Wales)
PATHWAYS EDUCATIONAL SYSTEMS LIMITED
UNAUDITED ABBREVIATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2016
PATHWAYS EDUCATIONAL SYSTEMS LIMITED
CONTENTS
Page
Abbreviated balance sheet
1
Notes to the abbreviated accounts
2 - 3
PATHWAYS EDUCATIONAL SYSTEMS LIMITED
ABBREVIATED BALANCE SHEET
AS AT
30 APRIL 2016
30 April 2016
- 1 -
2016
2015
Notes
£
£
£
£
Fixed assets
Intangible assets
2
4,030
4,030
Tangible assets
2
1,472
1,965
5,502
5,995
Current assets
Debtors
138
699
Cash at bank and in hand
586
504
724
1,203
Creditors: amounts falling due within one year
(15,113)
(11,989)
Net current liabilities
(14,389)
(10,786)
Total assets less current liabilities
(8,887)
(4,791)
Capital and reserves
Called up share capital
3
100
100
Profit and loss account
(8,987)
(4,891)
Shareholders' funds
(8,887)
(4,791)
For the financial year ended 30 April 2016 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
-
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
-
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.
Approved by the Board for issue on 9 September 2016
Mr I H Moyse
Director
Company Registration No. 08501187
PATHWAYS EDUCATIONAL SYSTEMS LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 30 APRIL 2016
- 2 -
1
Accounting policies
1.1
Accounting convention
The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).
1.2
Compliance with accounting standards
The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied consistently (except as otherwise stated).
1.3
Turnover
Turnover represents amounts receivable for goods and services net of VAT and trade discounts.
1.4
Patents
Patents are valued at cost less accumulated amortisation. Amortisation is calculated to write off the cost in equal annual instalments over their estimated useful lives.
1.5
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:
Fixtures, fittings & equipment
25% Reducing Balance
2
Fixed assets
Intangible assets
Tangible assets
Total
£
£
£
Cost
At 1 May 2015 & at 30 April 2016
4,030
2,069
6,099
Depreciation
At 1 May 2015
-
104
104
Charge for the year
-
493
493
At 30 April 2016
-
597
597
Net book value
At 30 April 2016
4,030
1,472
5,502
At 30 April 2015
4,030
1,965
5,995
PATHWAYS EDUCATIONAL SYSTEMS LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2016
- 3 -
3
Share capital
2016
2015
£
£
Allotted, called up and fully paid
25 Ordinary A shares of £1 each
25
25
25 Ordinary B shares of £1 each
25
25
25 Ordinary C shares of £1 each
25
25
25 Ordinary D shares of £1 each
25
25
100
100
Each class of share:
i) is entitled to one vote in any circumstances.
ii) has equal rights to dividends.
iii) is entitled to participate in a distribution arising from a winding up of the company.
4
Going concern
The accounts have been prepared on a going concern basis in view of anticipated future profits and the continuing support of its creditors and the directors.