2022-08-012023-07-312023-07-31false12127901PADRE 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PADRE LIMITED

Registered Number
12127901
(England and Wales)

Unaudited Financial Statements for the Year ended
31 July 2023

PADRE LIMITED
Company Information
for the year from 1 August 2022 to 31 July 2023

Director

FITZGERALD, Nicholas

Registered Address

Tacos Padre Unit 56 Borough Market Kitchen Winchester Walk
Jubilee Place
London
SE1 9AG

Registered Number

12127901 (England and Wales)
PADRE LIMITED
Balance Sheet as at
31 July 2023

Notes

2023

2022

£

£

£

£

Fixed assets
Tangible assets359,69673,192
59,69673,192
Current assets
Stocks4,0943,673
Debtors46,350114,166
Cash at bank and on hand177,97452,581
228,418170,420
Creditors amounts falling due within one year5(182,721)(182,219)
Net current assets (liabilities)45,697(11,799)
Total assets less current liabilities105,39361,393
Creditors amounts falling due after one year6(67,444)(107,238)
Net assets37,949(45,845)
Capital and reserves
Called up share capital11
Profit and loss account37,948(45,846)
Shareholders' funds37,949(45,845)
The financial statements were approved and authorised for issue by the Director on 5 March 2024, and are signed on its behalf by:
FITZGERALD, Nicholas
Director
Registered Company No. 12127901
PADRE LIMITED
Notes to the Financial Statements
for the year ended 31 July 2023

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the financial reporting standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Functional and presentation currency
The financial statements are presented in sterling and this is the functional currency of the company.
Turnover policy
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Revenue from sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Employee benefits
Contributions to defined contribution plans are expensed in the period to which they relate.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Current taxation
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.
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost or valuation less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at the rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives as follows: Leasehold - 20% Straight line Plant & Machinery - 20% Straight line Fixtures & Fittings - 20% Straight line Computer Equipment - 33% Straight line
Stocks and work in progress
Stocks are valued at the lower of cost and estimated selling price (less any associated costs to enable such sales to complete).
2.Average number of employees

20232022
Average number of employees during the year1310
3.Tangible fixed assets

Total

£
Cost or valuation
At 01 August 22154,864
Additions19,305
At 31 July 23174,170
Depreciation and impairment
At 01 August 2281,671
Charge for year32,802
At 31 July 23114,473
Net book value
At 31 July 2359,696
At 31 July 2273,192
4.Debtors: amounts due within one year

2023

2022

££
Trade debtors / trade receivables9,32322,466
Other debtors29,75477,397
Prepayments and accrued income7,27314,303
Total46,350114,166
5.Creditors: amounts due within one year

2023

2022

££
Trade creditors / trade payables60,810107,893
Bank borrowings and overdrafts10,00010,000
Taxation and social security83,88142,518
Other creditors1,8011,036
Accrued liabilities and deferred income26,22920,772
Total182,721182,219
6.Creditors: amounts due after one year

2023

2022

££
Bank borrowings and overdrafts67,444107,238
Total67,444107,238