SALES PATH LTD |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE PERIOD 28TH OCTOBER 2021 TO 31ST OCTOBER 2022 |
SALES PATH LTD |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE PERIOD 28TH OCTOBER 2021 TO 31ST OCTOBER 2022 |
SALES PATH LTD (REGISTERED NUMBER: 13708292) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE PERIOD 28TH OCTOBER 2021 TO 31ST OCTOBER 2022 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 3 |
Chartered Accountants' Report | 5 |
SALES PATH LTD |
COMPANY INFORMATION |
FOR THE PERIOD 28TH OCTOBER 2021 TO 31ST OCTOBER 2022 |
DIRECTOR: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Accountants |
Riverside House |
Ladhope Vale |
Galashiels |
Selkirkshire |
TD1 1BT |
SALES PATH LTD (REGISTERED NUMBER: 13708292) |
BALANCE SHEET |
31ST OCTOBER 2022 |
Notes | £ |
CURRENT ASSETS |
Debtors | 4 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 5 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings |
SHAREHOLDERS' FUNDS |
The director acknowledges his responsibilities for: |
(a) | ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and |
(b) | preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. |
In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered. |
The financial statements were approved by the director and authorised for issue on |
SALES PATH LTD (REGISTERED NUMBER: 13708292) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE PERIOD 28TH OCTOBER 2021 TO 31ST OCTOBER 2022 |
1. | STATUTORY INFORMATION |
Sales Path Ltd is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
In light of the situation during the year regarding COVID-19 the Director has considered the potential impact of the pandemic on the business. The Director is satisfied that the Company has sufficient cash reserves to meet all financial obligations for the foreseeable future. As a result, the Director believes that the company will continue as a going concern and the accounts have been prepared on this basis. |
Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
Financial assets |
Basic financial assets, including trade and other debtors and bank balances, are initially recognised at transaction price. |
At the end of each reporting period financial assets measured at cost are assessed for evidence of impairment. Any impairment loss is recognised in the Income Statement. |
Financial assets are derecognised when the contractual rights to the cash flows from the asset expire or are settled. |
Financial liabilities |
Basic financial liabilities, including trade and other creditors, are initially recognised at transaction price. |
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. These are classed as current liabilities as payment is due within one year of less. If not they are presented as non-current liabilities. |
Financial liabilities are decolonised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires. |
Taxation |
Taxation for the period comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
Current or deferred taxation assets and liabilities are not discounted. |
Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date. |
SALES PATH LTD (REGISTERED NUMBER: 13708292) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE PERIOD 28TH OCTOBER 2021 TO 31ST OCTOBER 2022 |
2. | ACCOUNTING POLICIES - continued |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. |
Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the period end and that are expected to apply to the reversal of the timing difference. |
Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the period was |
4. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
£ |
Trade debtors |
5. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
£ |
Trade creditors |
Taxation and social security |
Other creditors |
CHARTERED ACCOUNTANTS' REPORT TO THE DIRECTOR |
ON THE UNAUDITED FINANCIAL STATEMENTS OF |
SALES PATH LTD |
The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Director are not required to be filed with the Registrar of Companies. |
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Sales Path Ltd for the period ended 31st October 2022 which comprise the Statement of Income and Retained Earnings, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us. |
As a practising member firm of ICAS, we are subject to its ethical and other professional requirements which are detailed at http://www.icas.com/accountspreparationguidance. |
This report is made solely to the director of Sales Path Ltd in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Sales Path Ltd and state those matters that we have agreed to state to the director of Sales Path Ltd in this report in accordance with the requirements of ICAS as detailed at http://www.icas.com/accountspreparationguidance. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its director for our work or for this report. |
It is your duty to ensure that Sales Path Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Sales Path Ltd. You consider that Sales Path Ltd is exempt from the statutory audit requirement for the period. |
We have not been instructed to carry out an audit or a review of the financial statements of Sales Path Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements. |
Chartered Accountants |
Riverside House |
Ladhope Vale |
Galashiels |
Selkirkshire |
TD1 1BT |