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REGISTERED NUMBER: 13642054 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 October 2023

for

Padparadscha Properties Ltd

Padparadscha Properties Ltd (Registered number: 13642054)






Contents of the Financial Statements
for the year ended 31 October 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Padparadscha Properties Ltd

Company Information
for the year ended 31 October 2023







DIRECTORS: J French
Mrs P S Reeve





REGISTERED OFFICE: 30 Brunswick Road
Shoreham by Sea
West Sussex
BN43 5WB





REGISTERED NUMBER: 13642054 (England and Wales)





ACCOUNTANTS: Shearers
Accountants & Chartered Tax Advisers
30 Brunswick Road
Shoreham-by-Sea
West Sussex
BN43 5WB

Padparadscha Properties Ltd (Registered number: 13642054)

Balance Sheet
31 October 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 942,756 942,756

CURRENT ASSETS
Debtors 5 17,266 12,432
Cash at bank 7,459 2,172
24,725 14,604
CREDITORS
Amounts falling due within one year 6 391,525 385,527
NET CURRENT LIABILITIES (366,800 ) (370,923 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

575,956

571,833

CREDITORS
Amounts falling due after more than one
year

7

562,084

572,816
NET ASSETS/(LIABILITIES) 13,872 (983 )

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 13,870 (985 )
13,872 (983 )

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2023 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.

Padparadscha Properties Ltd (Registered number: 13642054)

Balance Sheet - continued
31 October 2023


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 13 February 2024 and were signed on its behalf by:




J French - Director



Mrs P S Reeve - Director


Padparadscha Properties Ltd (Registered number: 13642054)

Notes to the Financial Statements
for the year ended 31 October 2023

1. STATUTORY INFORMATION

Padparadscha Properties Ltd 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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Land and buildings - in accordance with the property

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2022 - NIL).

4. TANGIBLE FIXED ASSETS
Land and
buildings
£   
COST
At 1 November 2022
and 31 October 2023 942,756
NET BOOK VALUE
At 31 October 2023 942,756
At 31 October 2022 942,756

Padparadscha Properties Ltd (Registered number: 13642054)

Notes to the Financial Statements - continued
for the year ended 31 October 2023

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 16,500 11,750
Other debtors 766 682
17,266 12,432

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 51,363 51,363
Trade creditors (1 ) -
Taxation and social security 6,004 1,913
Other creditors 334,159 332,251
391,525 385,527

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Other creditors 562,084 572,816

Amounts falling due in more than five years:

Repayable by instalments
Other loans more 5yrs instal 356,634 367,366

8. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank loans 51,363 51,363
Bank loans > 1 year 562,084 572,816
613,447 624,179

HSBC UK Bank PLC hold a fixed and floating charge over all assets, including the property known as 9 & 10 Union Street, Brighton.