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REGISTERED NUMBER: 01437967 (England and Wales)















Unaudited Financial Statements

for the Period 1 February 2023 to 30 April 2024

for

Padtec Limited

Padtec Limited (Registered number: 01437967)






Contents of the Financial Statements
for the Period 1 February 2023 to 30 April 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Padtec Limited

Company Information
for the Period 1 February 2023 to 30 April 2024







DIRECTOR: C W Bowers





SECRETARY: Mrs S L Bowers





REGISTERED OFFICE: 14 Balmercut
Buckingham Industrial Park
Buckingham
MK18 1SQ





REGISTERED NUMBER: 01437967 (England and Wales)





ACCOUNTANTS: LR Business Services Limited
Old Orchard
Crown East Lane
Lower Broadheath
Worcester
Worcestershire
WR2 6RH

Padtec Limited (Registered number: 01437967)

Balance Sheet
30 April 2024

30.4.24 31.1.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 331 13,475
Investments 5 1,000,000 -
1,000,331 13,475

CURRENT ASSETS
Stocks 6 23,993 29,739
Debtors 7 49,292 138,529
Investments 8 251,000 -
Cash at bank and in hand 25,230 18,174
349,515 186,442
CREDITORS
Amounts falling due within one year 9 498,509 71,967
NET CURRENT (LIABILITIES)/ASSETS (148,994 ) 114,475
TOTAL ASSETS LESS CURRENT
LIABILITIES

851,337

127,950

CREDITORS
Amounts falling due after more than
one year

10

747,000

27,500
NET ASSETS 104,337 100,450

Padtec Limited (Registered number: 01437967)

Balance Sheet - continued
30 April 2024

30.4.24 31.1.23
Notes £    £    £    £   
CAPITAL AND RESERVES
Called up share capital 200 200
Share premium 11 50,000 50,000
Retained earnings 11 54,137 50,250
SHAREHOLDERS' FUNDS 104,337 100,450

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 30 April 2024.

The members have not required the company to obtain an audit of its financial statements for the period ended 30 April 2024 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.

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 28 August 2024 and were signed by:





C W Bowers - Director


Padtec Limited (Registered number: 01437967)

Notes to the Financial Statements
for the Period 1 February 2023 to 30 April 2024

1. STATUTORY INFORMATION

Padtec 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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

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

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the period 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 period 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.

Padtec Limited (Registered number: 01437967)

Notes to the Financial Statements - continued
for the Period 1 February 2023 to 30 April 2024

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

3. EMPLOYEES AND DIRECTORS

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

4. TANGIBLE FIXED ASSETS
Plant and Motor
machinery vehicles Totals
£    £    £   
COST
At 1 February 2023 95,665 46,855 142,520
Disposals - (46,855 ) (46,855 )
At 30 April 2024 95,665 - 95,665
DEPRECIATION
At 1 February 2023 91,584 37,461 129,045
Charge for period 3,750 4,500 8,250
Eliminated on disposal - (41,961 ) (41,961 )
At 30 April 2024 95,334 - 95,334
NET BOOK VALUE
At 30 April 2024 331 - 331
At 31 January 2023 4,081 9,394 13,475

5. FIXED ASSET INVESTMENTS

During the year the company acquired 100% of the share capital of the subsidiary, NCB Marking Equipment Limited. Part of the consideration was deferred and shown in the creditors notes below.

6. STOCKS
30.4.24 31.1.23
£    £   
Stocks 23,993 29,739

Padtec Limited (Registered number: 01437967)

Notes to the Financial Statements - continued
for the Period 1 February 2023 to 30 April 2024

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.4.24 31.1.23
£    £   
Trade debtors 49,109 34,612
Related company loan - 101,176
Prepayments 183 2,741
49,292 138,529

8. CURRENT ASSET INVESTMENTS
30.4.24 31.1.23
£    £   
Other 251,000 -

9. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.4.24 31.1.23
£    £   
Bank loans and overdrafts 10,000 10,000
Other loans 251,000 -
Trade creditors 17,104 26,506
Tax 26,262 21,272
Social security and other taxes 830 -
VAT 1,142 5,134
Deferred consideration on
acquisition of subsidiary

140,000

-
Sundry creditors 1,640 -
Directors' current accounts 28,000 -
Accruals & deferred income 22,531 9,055
498,509 71,967

10. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
30.4.24 31.1.23
£    £   
Bank loans - 1-2 years 15,000 27,500
Amounts owed to group undertakings 172,000 -
Deferred consideration on
acquisition of subsidiary

560,000

-
747,000 27,500

Padtec Limited (Registered number: 01437967)

Notes to the Financial Statements - continued
for the Period 1 February 2023 to 30 April 2024

11. RESERVES
Retained Share
earnings premium Totals
£    £    £   

At 1 February 2023 50,250 50,000 100,250
Profit for the period 193,336 193,336
Dividends (189,449 ) (189,449 )
At 30 April 2024 54,137 50,000 104,137

12. RELATED PARTY DISCLOSURES

During the year the company acquired a property at a cost of £251,000 from a company related to Mr N C Bowers. This is included in current asset investments being held for re-sale. There is a loan outstanding to Mr NC Bowers at the year end of £251,000, to which no interest, and repayment due on the sale of the property.

13. POST BALANCE SHEET EVENTS

Following the financial period, on 1st May 2024, the trade and employees of the company were transferred to its subsidiary, NCB Marking Equipment Limited.