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REGISTERED NUMBER: 08757732 (England and Wales)












UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

FOR

PADS INVESTMENTS LIMITED

PADS INVESTMENTS LIMITED (REGISTERED NUMBER: 08757732)






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


PADS INVESTMENTS LIMITED

COMPANY INFORMATION
for the Year Ended 31 March 2024







DIRECTORS: D G Wint
S H Wint





REGISTERED OFFICE: 19 Clydesdale Rise
Diggle
Oldham
Lancashire
OL3 5PX





REGISTERED NUMBER: 08757732 (England and Wales)





ACCOUNTANTS: Moss & Williamson Limited
Booth Street Chambers
Booth Street
Ashton-under-Lyne
Lancashire
OL6 7LQ

PADS INVESTMENTS LIMITED (REGISTERED NUMBER: 08757732)

BALANCE SHEET
31 March 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Investment property 4 140,000 140,000

CURRENT ASSETS
Debtors 5 112 90
Cash at bank 1,183 50,632
1,295 50,722
CREDITORS
Amounts falling due within one year 6 2,917 5,666
NET CURRENT (LIABILITIES)/ASSETS (1,622 ) 45,056
TOTAL ASSETS LESS CURRENT
LIABILITIES

138,378

185,056

CREDITORS
Amounts falling due after more than one
year

7

(87,514

)

(135,140

)

PROVISIONS FOR LIABILITIES (6,786 ) (6,786 )
NET ASSETS 44,078 43,130

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 44,076 43,128
SHAREHOLDERS' FUNDS 44,078 43,130

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.

PADS INVESTMENTS LIMITED (REGISTERED NUMBER: 08757732)

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 28 October 2024 and were signed on its behalf by:





S H Wint - Director


PADS INVESTMENTS LIMITED (REGISTERED NUMBER: 08757732)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 31 March 2024

1. STATUTORY INFORMATION

Pads Investments 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.

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.

Rental income
Rental income is recognised in the period to which it relates.

3. EMPLOYEES AND DIRECTORS

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

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2023
and 31 March 2024 140,000
NET BOOK VALUE
At 31 March 2024 140,000
At 31 March 2023 140,000

PADS INVESTMENTS LIMITED (REGISTERED NUMBER: 08757732)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 March 2024

4. INVESTMENT PROPERTY - continued

Fair value at 31 March 2024 is represented by:
£   
Valuation in 2022 19,788
Valuation in 2023 10,000
Cost 110,212
140,000

Investment property was valued on an open market basis on 31 March 2024 by the directors in consultation with local valuers.

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other debtors 112 90

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 2,557 1,009
Other creditors 360 4,657
2,917 5,666

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans 62,627 66,651
Other creditors 24,887 68,489
87,514 135,140

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 51,059 61,769

Other creditors comprises a joint loan from D Wint and S Wint, directors of the company. The loan has no set repayment date.The directors have stated they would only ask for repayment in the event of the fixed assets being sold. There are no plans to sell these assets within 12 months of the balance sheet date.

8. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 65,184 67,660

PADS INVESTMENTS LIMITED (REGISTERED NUMBER: 08757732)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 March 2024

9. ULTIMATE CONTROLLING PARTY

The company is controlled by its directors.