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REGISTERED NUMBER: 08181561 (England and Wales)















Unaudited Financial Statements for the Year Ended 30 November 2023

for

Padlet Ltd

Padlet Ltd (Registered number: 08181561)

Contents of the Financial Statements
for the Year Ended 30 NOVEMBER 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Padlet Ltd

Company Information
for the Year Ended 30 NOVEMBER 2023







DIRECTOR: N Patel





REGISTERED OFFICE: 38 Oakleigh Avenue
Edgware
Middlesex
HA8 5DR





REGISTERED NUMBER: 08181561 (England and Wales)





ACCOUNTANTS: Frasers Young Limited
Chartered Certified Accountants
Alpha House
296 Kenton Road
Harrow
HA3 8DD

Padlet Ltd (Registered number: 08181561)

Balance Sheet
30 NOVEMBER 2023

30.11.23 30.11.22
Notes £    £   
FIXED ASSETS
Investment property 4 1,750,000 1,720,000

CURRENT ASSETS
Cash at bank 37,705 88,914

CREDITORS
Amounts falling due within one year 5 (61,718 ) (57,150 )
NET CURRENT (LIABILITIES)/ASSETS (24,013 ) 31,764
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,725,987

1,751,764

CREDITORS
Amounts falling due after more than one
year

6

(1,530,248

)

(1,600,780

)

PROVISIONS FOR LIABILITIES (20,273 ) (14,273 )
NET ASSETS 175,466 136,711

CAPITAL AND RESERVES
Called up share capital 1,000 1,000
Retained earnings 174,466 135,711
SHAREHOLDERS' FUNDS 175,466 136,711

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 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.

Padlet Ltd (Registered number: 08181561)

Balance Sheet - continued
30 NOVEMBER 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 director and authorised for issue on 7 August 2024 and were signed by:





N Patel - Director


Padlet Ltd (Registered number: 08181561)

Notes to the Financial Statements
for the Year Ended 30 NOVEMBER 2023


1. STATUTORY INFORMATION

Padlet 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 as modified by the revaluation of certain assets.

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

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 2 (2022 - 2 ) .

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 December 2022 1,720,000
Revaluations 30,000
At 30 November 2023 1,750,000
NET BOOK VALUE
At 30 November 2023 1,750,000
At 30 November 2022 1,720,000

Padlet Ltd (Registered number: 08181561)

Notes to the Financial Statements - continued
for the Year Ended 30 NOVEMBER 2023


4. INVESTMENT PROPERTY - continued

Fair value at 30 November 2023 is represented by:
£   
Valuation in 2015 7,635
Valuation in 2016 40,000
Valuation in 2017 38,325
Valuation in 2018 (43,000 )
Valuation in 2020 13,000
Valuation in 2022 18,204
Valuation in 2023 30,000
Cost 1,645,836
1,750,000

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.11.23 30.11.22
£    £   
Bank loans and overdrafts 17,569 17,569
Taxation and social security 3,566 1,937
Other creditors 40,583 37,644
61,718 57,150

6. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30.11.23 30.11.22
£    £   
Bank loans 536,940 646,272
Other creditors 993,308 954,508
1,530,248 1,600,780

Amounts falling due in more than five years:

Repayable otherwise than by instalments
Other loans more 5yrs non-inst 993,308 954,508

Repayable by instalments
Bank loans more 5 yr by instal 536,940 646,272

7. SECURED DEBTS

The following secured debts are included within creditors:

30.11.23 30.11.22
£    £   
Bank loans 554,509 663,841

Padlet Ltd (Registered number: 08181561)

Notes to the Financial Statements - continued
for the Year Ended 30 NOVEMBER 2023


8. RELATED PARTY DISCLOSURES

The directors/shareholders have loaned £ 993,308 (£ 954,508 - 2022) as interest free loan.
This has been included in the creditors falling due within one year.

9. ULTIMATE CONTROLLING PARTY

The company is under the ultimate control of the directors by virtue of their ability to act in concert in respect of the financial and operating policies of the company.