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Company registration number: 06194106
Padley Engineering Limited
Unaudited filleted financial statements
31 March 2024
Padley Engineering Limited
Contents
Directors and other information
Accountants report
Statement of financial position and notes to the financial statements
Padley Engineering Limited
Directors and other information
Directors S Padley
T Padley
Secretary J Padley
Company number 06194106
Registered office 2 High Brighton Street
Withernsea
East Yorkshire
HU19 2HL
Business address Unit 4 Spencer Industrial Estate
Copenhagen Road
Hull
HU7 0XQ
Accountants Larsen & Co
2 High Brighton Street
Withernsea
East Yorkshire
HU19 2HL
Bankers Virgin Money
46 Prospect Street
Hull
HU2 8PW
Padley Engineering Limited
Chartered accountants report to the board of directors on the preparation of the
unaudited statutory financial statements of Padley Engineering Limited
Year ended 31 March 2024
As described on the statement of financial position, the directors of the company are responsible for the preparation of the financial statements for the year ended 31 March 2024 which comprise the statement of financial position and related notes.
You consider that the company is exempt from an audit under the Companies Act 2006. In accordance with your instructions we have compiled these unaudited financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and from information and explanations supplied to us.
Larsen & Co
Chartered Accountants
2 High Brighton Street
Withernsea
East Yorkshire
HU19 2HL
4 September 2024
Padley Engineering Limited
Statement of financial position
31 March 2024
2024 2023
£ £ £ £
Fixed assets 21,324 18,914
_______ _______
Current assets 115,385 139,740
Prepayments and accrued income 2,992 2,734
_______ _______
118,377 142,474
Creditors: amounts falling due within one year ( 132,342) ( 140,650)
_______ _______
Net current (liabilities)/assets ( 13,965) 1,824
_______ _______
Total assets less current liabilities 7,359 20,738
Accruals and deferred income ( 6,346) ( 4,772)
_______ _______
Net assets 1,013 15,966
_______ _______
Capital and reserves 1,013 15,966
_______ _______
Notes to the financial statements
Padley Engineering Limited
Year ended 31 March 2024
1. Employee numbers
The average number of persons employed by the company during the year amounted to 3 (2023: 4 ).
2. Directors advances, credits and guarantees
During the year the directors entered into the following advances and credits with the company:
2024
Balance brought forward Advances /(credits) to the directors Amounts repaid Balance o/standing
£ £ £ £
S Padley ( 58,533) 26,780 ( 18,231) ( 49,984)
T Padley ( 14,890) 590 ( 6,114) ( 20,414)
_______ _______ _______ _______
( 73,423) 27,370 ( 24,345) ( 70,398)
_______ _______ _______ _______
2023
Balance brought forward Advances /(credits) to the directors Amounts repaid Balance o/standing
£ £ £ £
S Padley ( 27,141) 24,943 ( 56,335) ( 58,533)
T Padley ( 19,006) 17,732 ( 13,616) ( 14,890)
_______ _______ _______ _______
( 46,147) 42,675 ( 69,951) ( 73,423)
_______ _______ _______ _______
During the year S Padley , a director, provided the company with a loan bearing interest at 4%.The balance outstanding at the year end was £49,984 (2023 £58,533). During the year T Padley , a director, provided the company with a loan bearing interest at 4%.The balance outstanding at the year end was £20,414 (2023 £14,890). During the year S Padley received a dividend of £7,525 (2023 £18,200). During the year T Padley received a dividend of £5,375 (2022 £13,000).
For the year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors responsiblities:
- The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
The financial statements have been prepared in accordance with the micro-entity provisions and have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.
These financial statements were approved by the board of directors and authorised for issue on 04 September 2024 , and are signed on behalf of the board by:
S Padley
Director
Company registration number: 06194106
The company is a private company limited by shares, registered in England & Wales.