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REGISTERED NUMBER: 05333578 (England and Wales)















PAD Associates Limited

Unaudited Financial Statements for the Year Ended 31 January 2024






PAD Associates Limited (Registered number: 05333578)






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




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


PAD Associates Limited

Company Information
for the Year Ended 31 January 2024







DIRECTOR: P A Dillon





REGISTERED OFFICE: 5 London Road
Rainham
Gillingham
Kent
ME8 7RG





BUSINESS ADDRESS: 50 Broad Walk
London
SE3 8NB





REGISTERED NUMBER: 05333578 (England and Wales)





ACCOUNTANTS: Aggarwal & Co Limited
Chartered Accountants
5 London Road
Rainham
Gillingham
Kent
ME8 7RG

PAD Associates Limited (Registered number: 05333578)

Statement of Financial Position
31 January 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 1,109 2,412

CURRENT ASSETS
Debtors 5 36,620 32,710
Cash at bank 1,183 4
37,803 32,714
CREDITORS
Amounts falling due within one year 6 38,285 34,574
NET CURRENT LIABILITIES (482 ) (1,860 )
TOTAL ASSETS LESS CURRENT LIABILITIES 627 552

PROVISIONS FOR LIABILITIES 81 300
NET ASSETS 546 252

CAPITAL AND RESERVES
Called up share capital 7 2 2
Retained earnings 544 250
SHAREHOLDERS' FUNDS 546 252

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

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

PAD Associates Limited (Registered number: 05333578)

Statement of Financial Position - continued
31 January 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 30 October 2024 and were signed by:





P A Dillon - Director


PAD Associates Limited (Registered number: 05333578)

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

1. STATUTORY INFORMATION

PAD Associates 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

Significant judgements - going concern
When preparing the financial statements, the director has assessed whether there are significant doubts about the company's ability to continue as a going concern, particularly as there are net current liabilities. There are no material uncertainties of which the director is aware in making his assessment.

Other debtors include £30,949 owed to the company by the director and he has indicated that repayment will be made to cover cash flow requirements. Therefore he considers that the company has sufficient cash reserves to enable it to meet its obligations as they fall due for a period of at least 12 months from the date of signing of these financial statements. As such, the director is satisfied that the company has adequate resources to continue to operate for the foreseeable future and he continues to adopt the going concern basis for preparing these financial statements.

Income recognition
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 the cost less estimated residual value of each asset over its estimated useful life.
Plant and machinery etc - 33% on cost

Financial instruments
The Company enters into basic financial instruments that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans to and from banks, other third parties and related parties.

Basic financial instruments are recognised at amortised cost, with changes recognised in profit or loss.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted by the statement of financial position date.

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.

PAD Associates Limited (Registered number: 05333578)

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

2. ACCOUNTING POLICIES - continued

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 February 2023 10,951
Disposals (1,931 )
At 31 January 2024 9,020
DEPRECIATION
At 1 February 2023 8,539
Charge for year 1,303
Eliminated on disposal (1,931 )
At 31 January 2024 7,911
NET BOOK VALUE
At 31 January 2024 1,109
At 31 January 2023 2,412

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other debtors 36,620 32,710

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts - 1,238
Trade creditors 97 -
Taxation and social security 36,164 31,232
Other creditors 2,024 2,104
38,285 34,574

PAD Associates Limited (Registered number: 05333578)

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

7. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
1 Ordinary A £1 1 1
1 Ordinary B £1 1 1
2 2

8. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 January 2024 and 31 January 2023:

2024 2023
£    £   
P A Dillon
Balance outstanding at start of year 24,835 21,780
Amounts advanced 15,809 21,558
Amounts repaid (9,695 ) (18,503 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 30,949 24,835