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REGISTERED NUMBER: 10263060 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE PERIOD 1 AUGUST 2022 TO 31 DECEMBER 2023

FOR

PADDINGTON STREET LTD

PADDINGTON STREET LTD (REGISTERED NUMBER: 10263060)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE PERIOD 1 AUGUST 2022 TO 31 DECEMBER 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4

Chartered Accountants' Report 7

PADDINGTON STREET LTD

COMPANY INFORMATION
FOR THE PERIOD 1 AUGUST 2022 TO 31 DECEMBER 2023







DIRECTOR: D G Summerfield





REGISTERED OFFICE: 29 Paddington Street
London
W1U 4HA





REGISTERED NUMBER: 10263060 (England and Wales)





ACCOUNTANTS: D.R.E. & Co. Limited
Chartered Accountants
Number 5
The Business Quarter
Eco Park Road
Ludlow
Shropshire
SY8 1FD

PADDINGTON STREET LTD (REGISTERED NUMBER: 10263060)

BALANCE SHEET
31 DECEMBER 2023

31.12.23 31.7.22
Notes £    £    £    £   
FIXED ASSETS
Investments 4 171 171

CURRENT ASSETS
Debtors 5 5,094,266 5,833,986
Cash at bank 152,041 772,782
5,246,307 6,606,768
CREDITORS
Amounts falling due within one year 6 4,358,914 5,855,536
NET CURRENT ASSETS 887,393 751,232
TOTAL ASSETS LESS CURRENT
LIABILITIES

887,564

751,403

CREDITORS
Amounts falling due after more than one
year

7

15,786

30,163
NET ASSETS 871,778 721,240

CAPITAL AND RESERVES
Called up share capital 200 200
Share premium 3,900 3,900
Retained earnings 867,678 717,140
871,778 721,240

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the period ended 31 December 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.

PADDINGTON STREET LTD (REGISTERED NUMBER: 10263060)

BALANCE SHEET - continued
31 DECEMBER 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 20 September 2024 and were signed by:





D G Summerfield - Director


PADDINGTON STREET LTD (REGISTERED NUMBER: 10263060)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD 1 AUGUST 2022 TO 31 DECEMBER 2023

1. STATUTORY INFORMATION

Paddington Street 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
The financial statements have been prepared under the historical cost convention. The accounts have been prepared on a going concern basis.

The financial statements are presented in Sterling (£) rounded to the nearest £1.

Preparation of consolidated financial statements
The financial statements contain information about Paddington Street Ltd as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

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

Investments in subsidiaries and associates
Investments in subsidiary and associate undertakings are recognised at cost.

Financial instruments
The company only has financial assets and financial liabilities of a kind that qualify as basic financial instruments.
Basic financial assets, including trade and other receivables and cash and bank balances, are initially recognised at transaction price and subsequently carried at amortised cost with an assessment for objective evidence of impairment. Any impairment is recognised in profit and loss.
Financial assets are derecognised when (a) the contractual rights to the cash flows from the asset expire or are settled, or (b) substantially all the risks and rewards or control of the ownership of the asset are transferred to another party.

Basic financial liabilities including trade and other creditors are initially recognised at transaction price and subsequently carried at amortised cost.
Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires.

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.


PADDINGTON STREET LTD (REGISTERED NUMBER: 10263060)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 1 AUGUST 2022 TO 31 DECEMBER 2023

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.

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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the period was NIL (2022 - NIL).

4. FIXED ASSET INVESTMENTS
Shares in Interest
group in
undertakings associate Totals
£    £    £   
COST
At 1 August 2022
and 31 December 2023 100 71 171
NET BOOK VALUE
At 31 December 2023 100 71 171
At 31 July 2022 100 71 171

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.7.22
£    £   
Trade debtors 4,448,344 5,525,691
Bailiwick Holdings Ltd 543,031 308,295
Amounts owed by participating interests 102,891 -
5,094,266 5,833,986

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.7.22
£    £   
Bounce back loan 9,994 9,527
Tax 56,990 52,614
Trade creditors 3,883,406 5,130,973
Directors' current accounts 7,296 1,796
Accrued interest expense 401,228 660,626
4,358,914 5,855,536

PADDINGTON STREET LTD (REGISTERED NUMBER: 10263060)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 1 AUGUST 2022 TO 31 DECEMBER 2023

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.12.23 31.7.22
£    £   
Bounce back loan 15,786 30,163

8. RELATED PARTY DISCLOSURES

Creditors amounting to £2,862,860 (2022: £3,822,919) were owed to companies of which the ultimate controlling parties are members of the key management personnel of Paddington Street Limited.

CHARTERED ACCOUNTANTS' REPORT TO THE DIRECTOR
ON THE UNAUDITED FINANCIAL STATEMENTS OF
PADDINGTON STREET LTD

The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Director are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Paddington Street Ltd for the period ended 31 December 2023 which comprise the Income Statement, Balance Sheet, Statement of Changes in Equity and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the director of Paddington Street Ltd in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Paddington Street Ltd and state those matters that we have agreed to state to the director of Paddington Street Ltd in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Paddington Street Ltd and its director for our work or for this report.

It is your duty to ensure that Paddington Street Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Paddington Street Ltd. You consider that Paddington Street Ltd is exempt from the statutory audit requirement for the period.

We have not been instructed to carry out an audit or a review of the financial statements of Paddington Street Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






D.R.E. & Co. Limited
Chartered Accountants
Number 5
The Business Quarter
Eco Park Road
Ludlow
Shropshire
SY8 1FD


23 September 2024