Relate AccountsProduction v2.6.3 v2.6.3 2022-08-01 The company was not dormant during the period The company was trading for the entire period Unaudited Accounts The company's principal activity during the year continued to be development of building projects. 6 March 2024 4 3 NI625775 2023-07-31 NI625775 2022-07-31 NI625775 2021-07-31 NI625775 2022-08-01 2023-07-31 NI625775 2021-08-01 2022-07-31 NI625775 uk-bus:PrivateLimitedCompanyLtd 2022-08-01 2023-07-31 NI625775 uk-bus:SmallCompaniesRegimeForAccounts 2022-08-01 2023-07-31 NI625775 uk-bus:AbridgedAccounts 2022-08-01 2023-07-31 NI625775 uk-core:ShareCapital 2023-07-31 NI625775 uk-core:ShareCapital 2022-07-31 NI625775 uk-core:RetainedEarningsAccumulatedLosses 2023-07-31 NI625775 uk-core:RetainedEarningsAccumulatedLosses 2022-07-31 NI625775 uk-core:TotalEquityAttributableToOwnersParentBeforeNon-controllingInterests 2023-07-31 NI625775 uk-core:TotalEquityAttributableToOwnersParentBeforeNon-controllingInterests 2022-07-31 NI625775 uk-bus:FRS102 2022-08-01 2023-07-31 NI625775 uk-core:LandBuildings 2022-08-01 2023-07-31 NI625775 uk-core:PlantMachinery 2022-08-01 2023-07-31 NI625775 2022-08-01 2023-07-31 NI625775 uk-bus:Director1 2022-08-01 2023-07-31 NI625775 uk-bus:AuditExempt-NoAccountantsReport 2022-08-01 2023-07-31 xbrli:pure iso4217:GBP xbrli:shares
 
 
 
 
 
 
 
 
 
 
Company Registration Number: NI625775
 
 
Padon Ltd
 
Abridged Unaudited Financial Statements
 
for the financial year ended 31 July 2023
Padon Ltd
Company Registration Number: NI625775
ABRIDGED BALANCE SHEET
as at 31 July 2023

2023 2022
Notes £ £
 
Fixed Assets
Tangible assets 4 53,918 54,923
───────── ─────────
 
Current Assets
Stocks 6,551 7,919
Debtors 17,236 15,282
Cash at bank and in hand 49,243 17,819
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73,030 41,020
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Creditors: amounts falling due within one year (32,837) (24,714)
───────── ─────────
Net Current Assets 40,193 16,306
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Total Assets less Current Liabilities 94,111 71,229
 
Creditors:
amounts falling due after more than one year (7,787) (21,384)
 
Government grants - (1)
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Net Assets 86,324 49,844
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Capital and Reserves
Called up share capital 1 1
Retained earnings 86,323 49,843
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Shareholders' Funds 86,324 49,844
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The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A (Small Entities).
           
All of the members have consented to the preparation of abridged accounts in accordance with section 444(2A) of the Companies Act 2006.
           
The company has taken advantage of the exemption under section 444 not to file the Abridged Profit and Loss Account and Director's Report.
           
For the financial year ended 31 July 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006.
           
The director confirms that the members have not required the company to obtain an audit of its financial statements for the financial year in question in accordance with section 476 of the Companies Act 2006.
           
The director acknowledges his responsibilities for ensuring that the company keeps accounting records which comply with section 386 and for preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of the financial year and of its profit and loss for the 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.
           
Approved by the Director and authorised for issue on 6 March 2024
           
________________________________          
Mr. Patrick Donnelly          
Director          
           



Padon Ltd
NOTES TO THE ABRIDGED FINANCIAL STATEMENTS
for the financial year ended 31 July 2023

   
1. General Information
 
Padon Ltd is a company limited by shares incorporated in Northern Ireland. 176 Cloughfin Road, Sixmilecross, Co. Tyrone, BT79 9EQ, United Kingdom is the registered office, which is also the principal place of business of the company . The nature of the company's operations and its principal activities are set out in the Director's Report.
         
2. Summary of Significant Accounting Policies
 
The following accounting policies have been applied consistently in dealing with items which are considered material in relation to the company's financial statements.
 
Statement of compliance
The financial statements of the company for the year ended 31 July 2023 have been prepared in accordance with the provisions of FRS 102 Section 1A (Small Entities) and the Companies Act 2006.
 
Basis of preparation
The financial statements have been prepared on the going concern basis and in accordance with the historical cost convention except for certain properties and financial instruments that are measured at revalued amounts or fair values, as explained in the accounting policies below. Historical cost is generally based on the fair value of the consideration given in exchange for assets.
 
Turnover
Turnover comprises the invoice value of goods supplied by the company, exclusive of trade discounts and value added tax.
 
Tangible assets and depreciation
Tangible assets are stated at cost or at valuation, less accumulated depreciation. The charge to depreciation is calculated to write off the original cost or valuation of tangible assets, less their estimated residual value, over their expected useful lives as follows:
 
  Land and buildings freehold - 0% Straight line
  Plant and machinery - 20% Straight line
 
The carrying values of tangible fixed assets are reviewed annually for impairment in periods if events or changes in circumstances indicate the carrying value may not be recoverable.
 
Leasing and hire purchases
Tangible assets held under leasing and Hire Purchases arrangements which transfer substantially all the risks and rewards of ownership to the company are capitalised and included in the Balance Sheet at their cost or valuation, less depreciation. The corresponding commitments are recorded as liabilities. Payments in respect of these obligations are treated as consisting of capital and interest elements, with interest charged to the Profit and Loss Account.
 
Stocks
Stocks are valued at the lower of cost and net realisable value.
 
Trade and other debtors
Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.
 
Trade and other creditors
Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.
 
Employee benefits
The company operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund.
 
Taxation
Current tax represents the amount expected to be paid or recovered in respect of taxable profits for the financial year and is calculated using the tax rates and laws that have been enacted or substantially enacted at the Balance Sheet date.
 
Government grants
Capital grants received and receivable are treated as deferred income and amortised to the Profit and Loss Account annually over the useful economic life of the asset to which it relates. Revenue grants are credited to the Profit and Loss Account when received.
 
Ordinary share capital
The ordinary share capital of the company is presented as equity.
       
3. Employees
 
The average monthly number of employees, including director, during the financial year was 4, (2022 - 3).
 
  2023 2022
  Number Number
 
Administrative 4 3
  ═════════ ═════════
         
4. Tangible assets
  Land and Plant and Total
  buildings machinery  
  freehold    
  £ £ £
Cost
At 1 August 2022 2,250 118,114 120,364
Additions - 30,775 30,775
Disposals - (15,400) (15,400)
  ───────── ───────── ─────────
At 31 July 2023 2,250 133,489 135,739
  ───────── ───────── ─────────
Depreciation
At 1 August 2022 - 65,441 65,441
Charge for the financial year - 25,620 25,620
On disposals - (9,240) (9,240)
  ───────── ───────── ─────────
At 31 July 2023 - 81,821 81,821
  ───────── ───────── ─────────
Net book value
At 31 July 2023 2,250 51,668 53,918
  ═════════ ═════════ ═════════
At 31 July 2022 2,250 52,673 54,923
  ═════════ ═════════ ═════════