Caseware UK (AP4) 2023.0.135 2023.0.135 2023-10-312023-10-313true2022-11-01falseNo description of principal activity4falseThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 11643568 2022-11-01 2023-10-31 11643568 2021-11-01 2022-10-31 11643568 2023-10-31 11643568 2022-10-31 11643568 c:Director3 2022-11-01 2023-10-31 11643568 d:MotorVehicles 2022-11-01 2023-10-31 11643568 d:MotorVehicles 2023-10-31 11643568 d:MotorVehicles 2022-10-31 11643568 d:MotorVehicles d:OwnedOrFreeholdAssets 2022-11-01 2023-10-31 11643568 d:FurnitureFittings 2022-11-01 2023-10-31 11643568 d:FurnitureFittings 2023-10-31 11643568 d:FurnitureFittings 2022-10-31 11643568 d:FurnitureFittings d:OwnedOrFreeholdAssets 2022-11-01 2023-10-31 11643568 d:OwnedOrFreeholdAssets 2022-11-01 2023-10-31 11643568 d:CurrentFinancialInstruments 2023-10-31 11643568 d:CurrentFinancialInstruments 2022-10-31 11643568 d:Non-currentFinancialInstruments 2023-10-31 11643568 d:Non-currentFinancialInstruments 2022-10-31 11643568 d:CurrentFinancialInstruments d:WithinOneYear 2023-10-31 11643568 d:CurrentFinancialInstruments d:WithinOneYear 2022-10-31 11643568 d:Non-currentFinancialInstruments d:AfterOneYear 2023-10-31 11643568 d:Non-currentFinancialInstruments d:AfterOneYear 2022-10-31 11643568 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2023-10-31 11643568 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2022-10-31 11643568 d:ShareCapital 2023-10-31 11643568 d:ShareCapital 2022-10-31 11643568 d:RetainedEarningsAccumulatedLosses 2023-10-31 11643568 d:RetainedEarningsAccumulatedLosses 2022-10-31 11643568 c:OrdinaryShareClass1 2022-11-01 2023-10-31 11643568 c:OrdinaryShareClass1 2023-10-31 11643568 c:OrdinaryShareClass1 2022-10-31 11643568 c:FRS102 2022-11-01 2023-10-31 11643568 c:AuditExempt-NoAccountantsReport 2022-11-01 2023-10-31 11643568 c:FullAccounts 2022-11-01 2023-10-31 11643568 c:PrivateLimitedCompanyLtd 2022-11-01 2023-10-31 11643568 2 2022-11-01 2023-10-31 11643568 e:PoundSterling 2022-11-01 2023-10-31 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 11643568









PADDOCK PROMOTIONS LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 OCTOBER 2023

 
PADDOCK PROMOTIONS LIMITED
REGISTERED NUMBER: 11643568

BALANCE SHEET
AS AT 31 OCTOBER 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
191,395
162,026

  
191,395
162,026

Current assets
  

Debtors: amounts falling due within one year
 5 
114,723
88,853

Cash at bank and in hand
 6 
39,042
19,259

  
153,765
108,112

Creditors: amounts falling due within one year
 7 
(1,226,076)
(1,000,254)

Net current liabilities
  
 
 
(1,072,311)
 
 
(892,142)

Total assets less current liabilities
  
(880,916)
(730,116)

Creditors: amounts falling due after more than one year
 8 
(18,908)
(27,735)

  

Net liabilities
  
(899,824)
(757,851)


Capital and reserves
  

Called up share capital 
 10 
100
100

Profit and loss account
  
(899,924)
(757,951)

  
(899,824)
(757,851)


Page 1

 
PADDOCK PROMOTIONS LIMITED
REGISTERED NUMBER: 11643568
    
BALANCE SHEET (CONTINUED)
AS AT 31 OCTOBER 2023

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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.

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

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 30 July 2024.




A K Plowman
Director

The notes on pages 3 to 9 form part of these financial statements.

Page 2

 
PADDOCK PROMOTIONS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023

1.


General information

The company is a private company, limited by shares, incorporated and domiciled in England within the United Kingdom, registration number 11643568. The company's registered office is Unit 22 Two Gates Trading Estate, Watling Street, Tamworth, Staffordshire, England, B77 5AE.
The financial statements are presented in sterling which is the functional currency of the company and the financial statements are rounded to the nearest £1.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.3

Operating leases: the Company as lessee

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

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

 
2.4

Interest income

Interest income is recognised in profit or loss using the effective interest method.

Page 3

 
PADDOCK PROMOTIONS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023

2.Accounting policies (continued)

 
2.5

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.6

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
2.7

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
2.8

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Motor vehicles
-
25%
Fixtures and fittings
-
25%

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.9

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Page 4

 
PADDOCK PROMOTIONS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023

2.Accounting policies (continued)

 
2.10

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.11

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Page 5

 
PADDOCK PROMOTIONS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023

3.


Employees

2023
2022
£
£

Wages and salaries
40,897
48,019

Social security costs
309
1,648

Cost of defined contribution scheme
1,187
1,391

42,393
51,058


The average monthly number of employees, including the directors, during the year was as follows:


        2023
        2022
            No.
            No.







Directors
3
3



Other staff
1
-

4
3

Page 6

 
PADDOCK PROMOTIONS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023

4.


Tangible fixed assets





Motor vehicles
Fixtures and fittings
Total

£
£
£



Cost or valuation


At 1 November 2022
182,627
73,130
255,757


Additions
102,933
43,962
146,895


Disposals
(112,592)
-
(112,592)



At 31 October 2023

172,968
117,092
290,060



Depreciation


At 1 November 2022
71,700
22,031
93,731


Charge for the year on owned assets
36,809
26,790
63,599


Disposals
(58,665)
-
(58,665)



At 31 October 2023

49,844
48,821
98,665



Net book value



At 31 October 2023
123,124
68,271
191,395



At 31 October 2022
110,926
51,099
162,025

Page 7

 
PADDOCK PROMOTIONS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023

5.


Debtors

2023
2022
£
£


Trade debtors
106,039
71,356

Other debtors
100
16,949

Prepayments and accrued income
8,584
548

114,723
88,853



6.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
39,042
19,259

39,042
19,259



7.


Creditors: Amounts falling due within one year

2023
2022
£
£

Bank loans
8,827
8,667

Trade creditors
37,212
36,646

Other taxation and social security
24,153
691

Other creditors
1,146,901
954,250

Accruals and deferred income
8,983
-

1,226,076
1,000,254



8.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Bank loans
18,908
27,735

18,908
27,735


Page 8

 
PADDOCK PROMOTIONS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023

9.


Loans


Analysis of the maturity of loans is given below:


2023
2022
£
£

Amounts falling due within one year

Bank loans
8,827
8,667


8,827
8,667


Amounts falling due 2-5 years

Bank loans
18,908
27,735


18,908
27,735


27,735
36,402



10.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



100 (2022 - 100) Ordinary Shares shares of £1.00 each
100
100



11.


Pension commitments

The company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. The pension cost charge represents contributions payable by the company to the fund amounted to £1,187 (2022: £1,391). Contributions totalling £nil (2022: £219) were payable to the fund at the balance sheet date and are included in creditors.

 
Page 9