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REGISTERED NUMBER: 00463840 (England and Wales)








Unaudited Financial Statements

for the Year Ended 31 March 2024

for

Padham Properties Limited

Padham Properties Limited (Registered number: 00463840)

Contents of the Financial Statements
for the Year Ended 31 March 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Padham Properties Limited

Company Information
for the Year Ended 31 March 2024







DIRECTORS: C L Osborne
A I Dixon-Patterson





SECRETARY: A L Osborne





REGISTERED OFFICE: LMW Riverside View
Basing Road
Old Basing
Basingstoke
Hampshire
RG24 7AL





BUSINESS ADDRESS: 7 Lapwing Crescent
Cepen Park North
Chippenham
Wiltshire
SN14 6YF





REGISTERED NUMBER: 00463840 (England and Wales)





ACCOUNTANTS: LMW Limited
Riverside View
Basing Road
Old Basing
Basingstoke
Hampshire
RG24 7AL

Padham Properties Limited (Registered number: 00463840)

Balance Sheet
31 March 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 25,190 34,190
Investment property 5 14,490,000 13,960,873
14,515,190 13,995,063

CURRENT ASSETS
Debtors 6 83,339 87,064
Cash at bank 397,341 1,444,814
480,680 1,531,878
CREDITORS
Amounts falling due within one year 7 98,304 72,836
NET CURRENT ASSETS 382,376 1,459,042
TOTAL ASSETS LESS CURRENT
LIABILITIES

14,897,566

15,454,105

PROVISIONS FOR LIABILITIES 8 2,567,036 2,574,899
NET ASSETS 12,330,530 12,879,206

CAPITAL AND RESERVES
Called up share capital 9 8,552 9,186
Share premium 3,694,925 3,694,925
Capital redemption reserve 10,488 9,854
Fair value reserve 10 4,543,140 4,566,730
Retained earnings 4,073,425 4,598,511
SHAREHOLDERS' FUNDS 12,330,530 12,879,206

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 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.

Padham Properties Limited (Registered number: 00463840)

Balance Sheet - continued
31 March 2024


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 19 August 2024 and were signed on its behalf by:





C L Osborne - Director


Padham Properties Limited (Registered number: 00463840)

Notes to the Financial Statements
for the Year Ended 31 March 2024


1. STATUTORY INFORMATION

Padham Properties Limited 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.

Significant judgements and estimates
The directors have made key assumptions in the determination of the fair value of an investment property in respect of the state of the property market in the location where the property is situated and in respect of the range of reasonable fair value estimates of the asset.

Turnover
Turnover represents rental income which is accounted for on a receivable basis.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Motor vehicles - 17.25% on cost

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.

Financial instruments
Debtors and creditors payable/receivable within one year
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

Loans and borrowings
Loans and borrowings are initially recognised at the transaction price, including transaction costs. Subsequently they are measured at amortised cost using the effective interest rate method, less impairment. If an arrangement constitutes a finance transaction it is measured at present value.

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.


Padham Properties Limited (Registered number: 00463840)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024


2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date, adjusted for indexation where applicable.

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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Impairment
Assets not measured at fair value are reviewed for any indication that an asset may be impaired at each balance sheet date. The directors review the carrying amount of the relevant assets and compare them to their market values and recoverable amounts. Where the carrying amount exceeds this, an impairment loss is recognised in profit or loss, unless the asset is carried at a revalued amount, where the impairment loss is a revaluation decrease.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2023 - 3 ) .

4. TANGIBLE FIXED ASSETS
Motor
vehicles
£   
COST
At 1 April 2023
and 31 March 2024 52,190
DEPRECIATION
At 1 April 2023 18,000
Charge for year 9,000
At 31 March 2024 27,000
NET BOOK VALUE
At 31 March 2024 25,190
At 31 March 2023 34,190

Padham Properties Limited (Registered number: 00463840)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024


5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2023 13,960,873
Additions 560,580
Revaluations (31,453 )
At 31 March 2024 14,490,000
NET BOOK VALUE
At 31 March 2024 14,490,000
At 31 March 2023 13,960,873


6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade debtors 79,887 52,535
Other debtors 3,452 34,529
83,339 87,064

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Taxation and social security 82,600 56,438
Other creditors 15,704 16,398
98,304 72,836

8. PROVISIONS FOR LIABILITIES
31.3.24 31.3.23
£    £   
Deferred tax
Other timing differences 2,567,036 2,574,899

Deferred
tax
£   
Balance at 1 April 2023 2,574,899
On fair value reserve movement (7,863 )
Balance at 31 March 2024 2,567,036

Padham Properties Limited (Registered number: 00463840)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024


9. CALLED UP SHARE CAPITAL

Allotted and issued:
Number: Class: Nominal 31.3.24 31.3.23
value: £    £   
9,186 Ordinary £1 8,552 9,186

During the year there was a purchase of own shares by the company. The company purchased 634 Ordinary shares for £621,320 plus stamp duty costs.

10. RESERVES
Fair
value
reserve
£   
At 1 April 2023 4,566,730
Transfer between reserves (23,590 )

At 31 March 2024 4,543,140