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REGISTERED NUMBER: 10432292 (England and Wales)











UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2022

FOR

PADSTOW PROPERTY MANAGEMENT LIMITED

PADSTOW PROPERTY MANAGEMENT LIMITED (REGISTERED NUMBER: 10432292)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2022




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


PADSTOW PROPERTY MANAGEMENT LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2022







DIRECTORS: Miss J R Darville
D P Hoskin





REGISTERED OFFICE: 9 Raleigh Road
Padstow
Cornwall
PL28 8ET





REGISTERED NUMBER: 10432292 (England and Wales)





ACCOUNTANTS: Whitakers
Chartered Accountants
Bryndon House
5/7 Berry Road
Newquay
Cornwall
TR7 1AD

PADSTOW PROPERTY MANAGEMENT LIMITED (REGISTERED NUMBER: 10432292)

BALANCE SHEET
31 MARCH 2022

31.3.22 31.3.21
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 42,338 52,429

CURRENT ASSETS
Debtors 5 20,988 22,164
Cash at bank 112,920 70,934
133,908 93,098
CREDITORS
Amounts falling due within one year 6 41,996 39,309
NET CURRENT ASSETS 91,912 53,789
TOTAL ASSETS LESS CURRENT
LIABILITIES

134,250

106,218

CREDITORS
Amounts falling due after more than one
year

7

(4,209

)

(9,349

)

PROVISIONS FOR LIABILITIES (6,080 ) (7,739 )
NET ASSETS 123,961 89,130

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 123,861 89,030
123,961 89,130

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2022 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

PADSTOW PROPERTY MANAGEMENT LIMITED (REGISTERED NUMBER: 10432292)

BALANCE SHEET - continued
31 MARCH 2022


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 15 August 2022 and were signed on its behalf by:





D P Hoskin - Director


PADSTOW PROPERTY MANAGEMENT LIMITED (REGISTERED NUMBER: 10432292)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2022

1. STATUTORY INFORMATION

Padstow Property Management Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery - 25% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 25% on cost

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.

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 year 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.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

PADSTOW PROPERTY MANAGEMENT LIMITED (REGISTERED NUMBER: 10432292)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2022

2. ACCOUNTING POLICIES - continued

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 7 (2021 - 7 ) .

4. TANGIBLE FIXED ASSETS
Short Plant and Motor Computer
leasehold machinery vehicles equipment Totals
£    £    £    £    £   
COST
At 1 April 2021 16,511 5,019 52,101 4,370 78,001
Additions - - - 954 954
At 31 March 2022 16,511 5,019 52,101 5,324 78,955
DEPRECIATION
At 1 April 2021 4,359 2,035 16,265 2,913 25,572
Charge for year 1,822 746 7,070 1,407 11,045
At 31 March 2022 6,181 2,781 23,335 4,320 36,617
NET BOOK VALUE
At 31 March 2022 10,330 2,238 28,766 1,004 42,338
At 31 March 2021 12,152 2,984 35,836 1,457 52,429

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1 April 2021
and 31 March 2022 26,144
DEPRECIATION
At 1 April 2021
and 31 March 2022 7,255
NET BOOK VALUE
At 31 March 2022 18,889
At 31 March 2021 18,889

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.22 31.3.21
£    £   
Trade debtors 19,268 22,164
Other debtors 1,720 -
20,988 22,164

PADSTOW PROPERTY MANAGEMENT LIMITED (REGISTERED NUMBER: 10432292)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2022

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.22 31.3.21
£    £   
Hire purchase contracts 4,608 4,909
Trade creditors 6,251 4,467
Tax 9,756 11,995
Social security and other taxes 3,521 3,150
Other creditors 3,070 -
Directors' current accounts 14,249 14,249
Accrued expenses 541 539
41,996 39,309

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.3.22 31.3.21
£    £   
Hire purchase contracts 4,209 9,349

8. ULTIMATE CONTROLLING PARTY

The company is controlled by it's directors, by virtue of the fact that between them they own one hundred percent of the company's ordinary issued share capital.