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REGISTERED NUMBER: 11059997 (England and Wales)















Financial Statements for the Year Ended 30 November 2023

for

Paddy Developments Limited

Paddy Developments Limited (Registered number: 11059997)






Contents of the Financial Statements
for the Year Ended 30 November 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Paddy Developments Limited

Company Information
for the Year Ended 30 November 2023







DIRECTOR: P Young





REGISTERED OFFICE: 116 Duke Street
Liverpool
Merseyside
L1 5JW





REGISTERED NUMBER: 11059997 (England and Wales)





ACCOUNTANTS: Cobham Murphy
116 Duke Street
Liverpool
Merseyside
L1 5JW

Paddy Developments Limited (Registered number: 11059997)

Balance Sheet
30 November 2023

30.11.23 30.11.22
Notes £    £   
CURRENT ASSETS
Debtors 4 646,553 650,494
Cash at bank 520 1,046
647,073 651,540
CREDITORS
Amounts falling due within one year 5 569,934 566,786
NET CURRENT ASSETS 77,139 84,754
TOTAL ASSETS LESS CURRENT
LIABILITIES

77,139

84,754

CREDITORS
Amounts falling due after more than
one year

6

31,045

36,601
NET ASSETS 46,094 48,153

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 45,994 48,053
SHAREHOLDERS' FUNDS 46,094 48,153

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 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.

Paddy Developments Limited (Registered number: 11059997)

Balance Sheet - continued
30 November 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 28 November 2024 and were signed by:





P Young - Director


Paddy Developments Limited (Registered number: 11059997)

Notes to the Financial Statements
for the Year Ended 30 November 2023

1. STATUTORY INFORMATION

Paddy Developments 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 and estimates
There are no judgements (apart from those involving estimates) that have had a significant effect on amounts recognised in the financial statements.

Financial instruments
Other loans are initially measured at the present value of future payments, discounted at a market rate of interest, and subsequently at amortised cost using the effective interest method.

Directors loans and intercompany loans (being repayable on demand), trade debtors and trade creditors are measured at the undiscounted amount of the cash or other consideration expected to be paid or received.

Financial assets that are measured at amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in profit and 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.

Paddy Developments Limited (Registered number: 11059997)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2023

3. EMPLOYEES AND DIRECTORS

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

4. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.11.23 30.11.22
£    £   
Amounts owed by associates 646,553 650,494

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.11.23 30.11.22
£    £   
Bank loans and overdrafts (see note 7) 5,556 5,556
Amounts owed to group undertakings 347,620 347,620
Amounts owed to associates 140,140 140,140
Taxation and social security 13,024 12,498
Other creditors 63,594 60,972
569,934 566,786

6. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
30.11.23 30.11.22
£    £   
Bank loans (see note 7) 31,045 36,601

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 8,822 14,378

7. LOANS

An analysis of the maturity of loans is given below:

30.11.23 30.11.22
£    £   
Amounts falling due within one year or on demand:
Bank loans 5,556 5,556

Amounts falling due between one and two years:
Bank loans - 1-2 years 5,556 5,556

Amounts falling due between two and five years:
Bank loans - 2-5 years 16,667 16,667

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 8,822 14,378

Paddy Developments Limited (Registered number: 11059997)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2023

8. SECURED DEBTS

A fixed and floating charge is held over the assets of the company by Together Commercial Finance Limited.

9. RELATED PARTY DISCLOSURES

Included within other debtors is an amount of £448,284, (2022, £448,284), owing from Elm Vale Limited, a company controlled by Mr P Young.

Included within other debtors is an amount of £198,269, (2022, £202,210), owing from Young Homes Limited, a company controlled by Mr P Young.

Included within other creditors is an amount of £347,620, (2022, £347,620), owing to SFY Construction Limited, a company controlled by Mr P Young.

Included within other creditors is an amount of £140,140, (2022, £140,140), owing to Vauxhall Developments Limited, a company in which Mr P Young is a directors and shareholder.

The loans are interest free and repayable on demand.