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Registered number: 06535842
Launch Padz Ltd
Unaudited Financial Statements
For The Year Ended 31 March 2024
Sturgess Hutchinson
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 06535842
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 11,441 8,270
Investments 5 10,052 10,052
21,493 18,322
CURRENT ASSETS
Stocks 6 4,260,540 4,251,980
Debtors 7 4,296,362 3,771,806
Cash at bank and in hand 59,376 61,726
8,616,278 8,085,512
Creditors: Amounts Falling Due Within One Year 8 (926,462 ) (929,677 )
NET CURRENT ASSETS (LIABILITIES) 7,689,816 7,155,835
TOTAL ASSETS LESS CURRENT LIABILITIES 7,711,309 7,174,157
Creditors: Amounts Falling Due After More Than One Year 9 (3,835,000 ) (3,295,797 )
NET ASSETS 3,876,309 3,878,360
CAPITAL AND RESERVES
Called up share capital 10 51 51
Share premium account 257,920 257,920
Profit and Loss Account 3,618,338 3,620,389
SHAREHOLDERS' FUNDS 3,876,309 3,878,360
Page 1
Page 2
For the year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
J J Levy
Director
20/02/2025
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Launch Padz Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 06535842 . The registered office is 21 New Walk, Leicester, Leicestershire, LE1 6TE.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Motor Vehicles 25% on cost
Fixtures & Fittings 25% on cost
2.3. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 10 (2023: 10)
10 10
4. Tangible Assets
Motor Vehicles Fixtures & Fittings Total
£ £ £
Cost
As at 1 April 2023 4,500 19,258 23,758
Additions - 6,626 6,626
As at 31 March 2024 4,500 25,884 30,384
Depreciation
As at 1 April 2023 262 15,226 15,488
Provided during the period 1,125 2,330 3,455
As at 31 March 2024 1,387 17,556 18,943
Net Book Value
As at 31 March 2024 3,113 8,328 11,441
As at 1 April 2023 4,238 4,032 8,270
Page 3
Page 4
5. Investments
Other
£
Cost
As at 1 April 2023 10,052
As at 31 March 2024 10,052
Provision
As at 1 April 2023 -
As at 31 March 2024 -
Net Book Value
As at 31 March 2024 10,052
As at 1 April 2023 10,052
6. Stocks
2024 2023
£ £
Work in progress 4,260,540 4,251,980
7. Debtors
2024 2023
£ £
Due within one year
Trade debtors 446,204 141,103
Amounts owed by group undertakings 3,325,016 3,136,848
Other debtors 525,142 493,855
4,296,362 3,771,806
8. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 17,467 6,287
Bank loans and overdrafts - 202,394
Amounts owed to group undertakings 819,044 611,982
Other creditors 25,870 29,596
Taxation and social security 64,081 79,418
926,462 929,677
Page 4
Page 5
9. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 3,835,000 3,295,797
10. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 51 51
11. Directors Advances, Credits and Guarantees
Included within Debtors are the following loans to directors:
As at 1 April 2023 Amounts advanced Amounts repaid Amounts written off As at 31 March 2024
£ £ £ £ £
Mr Joseph Levy - 2,085 - - 2,085
Mr Richard Parker 1,500 11,250 - - 12,750
The above loan is unsecured, interest free and repayable on demand.
12. Related Party Transactions
Bradgate Estates Limited is the immediate parent company of Launch Padz Limited. Mr JJ Levy and 
Mr RA Parker are directors of both companies. During the year Launch Padz Limited repaid loans of 
£165,074 (2023 - £71,791). At 31 March 2024 £386,238 (2023 - £551,312) was owed by Bradgate 
Estates Limited.
Launch Padz Limited is the immediate parent company of Abode London Road Limited. Mr JJ Levy 
and Mr RA Parker are directors of both companies. During the year this company provided loans of 
£57,095 (2023 - £322,008). At 31 March 2024 £393,080 (2023 - £335,985) was owed to Abode London 
Road Limited.
The immediate parent company, Bradgate Estates Limited, owns 60% of the issued share capital of Abode Wharf
Street Limited. Mr JJ Levy is a common director. During the year Launch Padz Limited provided loans of £NIL 
(2023 - £NIL). At 31 March 2024 £9,506 (2023 - £9,506) was owed by Abode Wharf Street Limited.
Launch Padz Limited is the immediate parent company of Abode Nottingham Limited. Mr JJ Levy and 
Mr RA Parker are directors of both companies. During the year the company provided loans of £80,054 
(2023 - £87,628). At 31 March 2024 £1,976,965 (2023 - £1,896,911) was owed by Abode Nottingham 
Limited.
The immediate parent company, Bradgate Estates Limited, owns 100% of the issued share capital of 
Abode Nugent Street Limited. Mr JJ Levy and Mr RA Parker are directors of both companies. During the 
year loans this company provided loans of £149,967 (2023 - £100,000). At 31 March 2024 £425,964 
(2023 - £275,997) was owed to Abode Nugent Street Limited.
The immediate parent company, Bradgate Estates Limited, owns 100% of the issued share capital of 
Abode Lettings Leicester Limited. Mr JJ Levy and Mr RA Parker are directors of both companies. During 
the year Launch Padz Ltd provided loans of £678 (2023 - £5,775). At 31 March 2024 £10,156 (2023 - £9,479) 
was owed by Abode Lettings Leicester Limited.
Page 5