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REGISTERED NUMBER: 08803440 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 March 2023

for

PAD Electrics Limited

PAD Electrics Limited (Registered number: 08803440)






Contents of the Financial Statements
for the Year Ended 31 March 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


PAD Electrics Limited

Company Information
for the Year Ended 31 March 2023







DIRECTOR: A Dunn





REGISTERED OFFICE: Unit 1 86-88 Chapel Street
Thatcham
Berkshire





REGISTERED NUMBER: 08803440 (England and Wales)





ACCOUNTANTS: Aivilo Digital Accountancy Ltd
49 Hurford Drive
Thatcham
Berkshire
RG19 4WA

PAD Electrics Limited (Registered number: 08803440)

Balance Sheet
31 March 2023

31.3.23 31.3.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 59,177 44,376
59,177 44,376

CURRENT ASSETS
Stocks 6 23,733 1,500
Debtors 7 31,665 60,770
Cash at bank 78,469 137,140
133,867 199,410
CREDITORS
Amounts falling due within one year 8 84,897 116,472
NET CURRENT ASSETS 48,970 82,938
TOTAL ASSETS LESS CURRENT
LIABILITIES

108,147

127,314

CREDITORS
Amounts falling due after more than
one year

9

(96,406

)

(118,857

)

PROVISIONS FOR LIABILITIES (11,244 ) (8,431 )
NET ASSETS 497 26

PAD Electrics Limited (Registered number: 08803440)

Balance Sheet - continued
31 March 2023

31.3.23 31.3.22
Notes £    £    £    £   
CAPITAL AND RESERVES
Called up share capital 10 1 1
Retained earnings 496 25
SHAREHOLDERS' FUNDS 497 26

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 in accordance with Section 476 of the Companies Act 2006.

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.

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 director and authorised for issue on 16 November 2023 and were signed by:





A Dunn - Director


PAD Electrics Limited (Registered number: 08803440)

Notes to the Financial Statements
for the Year Ended 31 March 2023

1. STATUTORY INFORMATION

PAD Electrics 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 comprises the fair value of the consideration received or receivable for the provision of electrical services. Turnover is shown net of sales/value added tax, returns, rebates and discount.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Motor vehicles - 25% on reducing balance
Computer equipment - 33% on cost

Stocks
Stocks and work in progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

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.


PAD Electrics Limited (Registered number: 08803440)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

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

Assets held under finance leases which are leases or hire purchase where substantially all the risks and rewards of ownership of the asset have passed to the company and are capitalised on the balance sheet. These assets are depreciated over the shorter of their useful lives or the term of the lease.

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

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 (2022 - 7 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 April 2022
and 31 March 2023 15,000
AMORTISATION
At 1 April 2022
and 31 March 2023 15,000
NET BOOK VALUE
At 31 March 2023 -
At 31 March 2022 -

PAD Electrics Limited (Registered number: 08803440)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

5. TANGIBLE FIXED ASSETS
Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 April 2022 65,120 1,302 66,422
Additions 42,407 - 42,407
Disposals (29,000 ) - (29,000 )
At 31 March 2023 78,527 1,302 79,829
DEPRECIATION
At 1 April 2022 21,525 521 22,046
Charge for year 3,010 429 3,439
Eliminated on disposal (4,833 ) - (4,833 )
At 31 March 2023 19,702 950 20,652
NET BOOK VALUE
At 31 March 2023 58,825 352 59,177
At 31 March 2022 43,595 781 44,376

6. STOCKS
31.3.23 31.3.22
£    £   
Stocks 1,500 1,500
Work-in-progress 22,233 -
23,733 1,500

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Trade debtors 25,257 51,733
Other debtors 6,144 6,144
Prepayments and accrued income 264 2,893
31,665 60,770

PAD Electrics Limited (Registered number: 08803440)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Trade creditors 38,530 44,347
Tax 7,922 23,592
Social security and other taxes 1,230 1,329
VAT 2,956 3,185
Credit card creditor 5,361 7,143
Pensions payable 359 100
Hire purchase <1 year 7,094 8,625
Other loans <1yr 18,582 21,354
Other creditors - 565
Directors' current accounts 1,033 4,652
Accrued expenses 1,830 1,580
84,897 116,472

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
31.3.23 31.3.22
£    £   
Other loans >1 yr 72,308 87,589
Hire Purchase > 1 year 24,098 31,268
96,406 118,857

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.3.23 31.3.22
value: £    £   
50 Ordinary .01 1 1

11. CAPITAL COMMITMENTS
31.3.23 31.3.22
£    £   
Contracted but not provided for in the
financial statements 24,197 22,815

The total amount of financial commitments not included in the balance sheet is £24,197. This relates to the amounts remaining on the motor operating lease agreement.

PAD Electrics Limited (Registered number: 08803440)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

12. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 March 2023 and 31 March 2022:

31.3.23 31.3.22
£    £   
A Dunn
Balance outstanding at start of year (4,651 ) 16,647
Amounts advanced 34,413 22,041
Amounts repaid (30,795 ) (43,339 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (1,033 ) (4,651 )

13. RELATED PARTY DISCLOSURES

During the year the director made a loan with the company. At the balance sheet date the
amount owed to the director was £1,033 (2022: £4,651).

14. ULTIMATE CONTROLLING PARTY

The controlling party is A Dunn.