Company registration number 08510491 (England and Wales)
PADSTONE LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024
PAGES FOR FILING WITH REGISTRAR
PADSTONE LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 3
PADSTONE LIMITED
BALANCE SHEET
AS AT
30 APRIL 2024
30 April 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
832
1,110
Current assets
Stocks
85,710
956,585
Debtors
4
11,701
9,174
Investments
5
180,000
-
0
Cash at bank and in hand
128,046
468
405,457
966,227
Creditors: amounts falling due within one year
6
(789,057)
(1,443,213)
Net current liabilities
(383,600)
(476,986)
Net liabilities
(382,768)
(475,876)
Capital and reserves
Called up share capital
100
100
Profit and loss reserves
(382,868)
(475,976)
Total equity
(382,768)
(475,876)

The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 30 April 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved and signed by the director and authorised for issue on 19 January 2025
Dr RC Patterson
Director
Company registration number 08510491 (England and Wales)
PADSTONE LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024
- 2 -
1
Accounting policies
Company information

Padstone Limited is a private company limited by shares incorporated in England and Wales. The registered office is Clayton, Kings Drive, Caldy, Wirral, United Kingdom, CH48 2JF.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Turnover

Turnover represents net invoiced sales of property and is recognised when legal title passes to the customer.

1.3
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Plant and equipment
25% on reducing balance
Fixtures and fittings
25% on reducing balance

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.4
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
-
0
-
0
PADSTONE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2024
- 3 -
3
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 May 2023 and 30 April 2024
9,561
Depreciation and impairment
At 1 May 2023
8,451
Depreciation charged in the year
278
At 30 April 2024
8,729
Carrying amount
At 30 April 2024
832
At 30 April 2023
1,110
4
Debtors
2024
2023
Amounts falling due within one year:
£
£
Other debtors
9,201
6,674
Prepayments and accrued income
2,500
2,500
11,701
9,174
5
Current asset investments
2024
2023
£
£
Other investments
180,000
-
0
6
Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
3,543
94,356
Amounts owed to undertakings in which the company has a participating interest
694,950
715,250
Other creditors
82,064
625,107
Accruals and deferred income
8,500
8,500
789,057
1,443,213
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