Stack Pathway Limited Filleted accounts for Companies House (small and micro)

STACK PATHWAY LIMITED - Company Information

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COMPANY REGISTRATION NUMBER: 10503417

STACK PATHWAY LIMITED

FILLETED UNAUDITED FINANCIAL STATEMENTS

30 September 2021

STACK PATHWAY LIMITED

FINANCIAL STATEMENTS

YEAR ENDED 30 SEPTEMBER 2021

Contents	Pages

Balance sheet 1

Notes to the financial statements 2 to 4

STACK PATHWAY LIMITED

BALANCE SHEET

30 September 2021

	2021	2020
Note	£	£

Fixed assets

Tangible assets	5	3,132	4,915

Current assets

Debtors	6	10,500	8,000
Cash at bank and in hand		119,224	125,642
		------------	------------
		129,724	133,642

Creditors: amounts falling due within one year	7	( 21,441)	( 23,942)
		------------	------------
Net current assets		108,283	109,700
		------------	------------
Total assets less current liabilities		111,415	114,615
		------------	------------

Capital and reserves

Called up share capital	8	1	1
Profit and loss account		111,414	114,614
		------------	------------
Shareholders funds		111,415	114,615
		------------	------------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the profit and loss account has not been delivered.

For the year ending 30 September 2021 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 financial statements were approved by the board of directors and authorised for issue on 10 February 2022 , and are signed on behalf of the board by:

J B Brayshaw

Director

Company registration number: 10503417

STACK PATHWAY LIMITED

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 30 SEPTEMBER 2021

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 2 The Stables, Towton, Tadcaster, North Yorkshire, LS24 9SU.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for services rendered, stated net of discounts and of Value Added Tax.

Taxation

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.

Operating leases

Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Fixtures and fittings	-	15% reducing balance
Computer equipment	-	33% straight line

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 1 (2020: 2 ).

5. Tangible assets

	Fixtures and fittings	Computer equipment	Total
	£	£	£
Cost
At 1 October 2020	1,175	11,576	12,751
Additions	846	1,238	2,084
Disposals	–	( 1,160)	( 1,160)
	------------	------------	------------
At 30 September 2021	2,021	11,654	13,675
	------------	------------	------------
Depreciation
At 1 October 2020	453	7,383	7,836
Charge for the year	235	3,632	3,867
Disposals	–	( 1,160)	( 1,160)
	------------	------------	------------
At 30 September 2021	688	9,855	10,543
	------------	------------	------------
Carrying amount
At 30 September 2021	1,333	1,799	3,132
	------------	------------	------------
At 30 September 2020	722	4,193	4,915
	------------	------------	------------

6. Debtors

	2021	2020
	£	£
Trade debtors	10,500	8,000
	------------	------------

7. Creditors: amounts falling due within one year

	2021	2020
	£	£
Corporation tax	13,682	14,879
Social security and other taxes	4,994	6,273
Director loan accounts	2,559	2,247
Other creditors	206	543
	------------	------------
	21,441	23,942
	------------	------------

8. Called up share capital

Issued, called up and fully paid

	2021		2020
	No.	£	No.	£
Ordinary shares of £ 0.01 each	100	1	100	1
	------------	------------	------------	------------

9. Operating leases

The total future minimum lease payments under non-cancellable operating leases are as follows:

	2021	2020
	£	£
Not later than 1 year	346	7,618
Later than 1 year and not later than 5 years	–	3,809
	------------	------------
	346	11,427
	------------	------------

10. Related party transactions

The director's loan of £2,559 (2020: £2,247) set out above is unsecured, repayable on demand and currently interest free. The company is controlled by the directors.