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REGISTERED NUMBER: 04607455 (England and Wales)






















My Pad Accommodation Limited

Unaudited Financial Statements for the Year Ended 30 March 2024






My Pad Accommodation Limited (Registered number: 04607455)






Contents of the Financial Statements
for the year ended 30 March 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


My Pad Accommodation Limited

Company Information
for the year ended 30 March 2024







DIRECTOR: D Gough





REGISTERED OFFICE: 139 Cottingham Road
Hull
East Yorkshire
HU5 2DH





REGISTERED NUMBER: 04607455 (England and Wales)





ACCOUNTANTS: Smailes Goldie
Chartered Accountants
Regent's Court
Princess Street
Hull
East Yorkshire
HU2 8BA

My Pad Accommodation Limited (Registered number: 04607455)

Balance Sheet
30 March 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 110,394 89,777

CURRENT ASSETS
Debtors 5 209,386 164,846
Cash at bank 8,809 7,970
218,195 172,816
CREDITORS
Amounts falling due within one year 6 184,339 165,232
NET CURRENT ASSETS 33,856 7,584
TOTAL ASSETS LESS CURRENT
LIABILITIES

144,250

97,361

CREDITORS
Amounts falling due after more than one
year

7

(89,797

)

(82,463

)

PROVISIONS FOR LIABILITIES - (1,900 )
NET ASSETS 54,453 12,998

CAPITAL AND RESERVES
Called up share capital 10 100 100
Retained earnings 54,353 12,898
SHAREHOLDERS' FUNDS 54,453 12,998

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 March 2024.

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

My Pad Accommodation Limited (Registered number: 04607455)

Balance Sheet - continued
30 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 director and authorised for issue on 18 December 2024 and were signed by:





K Swale - Director


My Pad Accommodation Limited (Registered number: 04607455)

Notes to the Financial Statements
for the year ended 30 March 2024

1. STATUTORY INFORMATION

My Pad Accommodation 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.

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

The company recognises turnover when the amount of revenue can be reliably measured, when it is probable that future economic benefits will flow to the entity and specific criteria have been met for each of the company's activities.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - Nil
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 25% on reducing balance

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.

My Pad Accommodation Limited (Registered number: 04607455)

Notes to the Financial Statements - continued
for the year ended 30 March 2024

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit and loss on a straight line basis over the period of the lease. Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the Balance Sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the Profit and Loss Account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

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.

Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors
Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all the amounts due according to the original terms of the receivables.

Trade creditors
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 11 (2023 - 11 ) .

My Pad Accommodation Limited (Registered number: 04607455)

Notes to the Financial Statements - continued
for the year ended 30 March 2024

4. TANGIBLE FIXED ASSETS
Fixtures
Freehold and Motor
property fittings vehicles Totals
£    £    £    £   
COST
At 31 March 2023 7,953 42,915 98,151 149,019
Additions - 2,018 45,290 47,308
At 30 March 2024 7,953 44,933 143,441 196,327
DEPRECIATION
At 31 March 2023 - 26,666 32,576 59,242
Charge for year - 2,524 24,167 26,691
At 30 March 2024 - 29,190 56,743 85,933
NET BOOK VALUE
At 30 March 2024 7,953 15,743 86,698 110,394
At 30 March 2023 7,953 16,249 65,575 89,777

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 62,999 26,264
Other debtors 146,387 138,582
209,386 164,846

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Hire purchase contracts (see note 8) 24,525 14,697
Trade creditors 24,733 18,548
Taxation and social security 93,647 89,251
Other creditors 41,434 42,736
184,339 165,232

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Hire purchase contracts (see note 8) 69,548 55,796
Other creditors 20,249 26,667
89,797 82,463

My Pad Accommodation Limited (Registered number: 04607455)

Notes to the Financial Statements - continued
for the year ended 30 March 2024

8. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
2024 2023
£    £   
Net obligations repayable:
Within one year 24,525 14,697
Between one and five years 69,548 55,796
94,073 70,493

Non-cancellable operating leases
2024 2023
£    £   
Within one year 20,667 20,667

9. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Hire purchase contracts 94,073 70,493

Obligations under finance lease and hire purchase contracts are secured against the respective motor vehicles.

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
100 Ordinary £1 100 100

11. PENSION COMMITMENTS

The company operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the company in an independent administered fund. The pension cost charge represents contributions payable by the company to the fund and amount to £2,988 (2023 £2,729).

12. RELATED PARTY DISCLOSURES

At 31 March 2024 the company was owed £117,933 (2023 £117,933) from Newland Property Services Limited, a company which is owned by the shareholder of this company.