2023-06-012024-05-312024-05-31false12635274PG PADEL ACADEMY 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PG PADEL ACADEMY LTD

(formerly PADEL ROOTS LTD)

Registered Number
12635274
(England and Wales)

Unaudited Financial Statements for the Year ended
31 May 2024

PG PADEL ACADEMY LTD
Company Information
for the year from 1 June 2023 to 31 May 2024

Director

Patricia GISBERT GIMENO

Registered Address

10 Dukes Avenue
Kingston Upon Thames
KT2 5QY

Registered Number

12635274 (England and Wales)
PG PADEL ACADEMY LTD
Balance Sheet as at
31 May 2024

Notes

2024

2023

£

£

£

£

Current assets
Debtors534-
Cash at bank and on hand5,6902,407
6,2242,407
Creditors amounts falling due within one year3(1,418)(2,759)
Net current assets (liabilities)4,806(352)
Total assets less current liabilities4,806(352)
Creditors amounts falling due after one year4(6,498)(12,574)
Net assets(1,692)(12,926)
Capital and reserves
Called up share capital11
Profit and loss account(1,693)(12,927)
Shareholders' funds(1,692)(12,926)
The financial statements were approved and authorised for issue by the Director on 26 February 2025, and are signed on its behalf by:
Patricia GISBERT GIMENO
Director
Registered Company No. 12635274
PG PADEL ACADEMY LTD
Notes to the Financial Statements
for the year ended 31 May 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in accordance with the Companies Act 2006 and FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland including Section 1A Small Entities.
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the financial reporting standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover policy
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services.
Revenue from rendering of services
Revenue from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at transaction price and measured at amortised cost using the effective interest method. Where investments in non-derivative financial instruments are publicly traded, or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value through profit and loss. All other investments are subsequently measured at cost less impairment. Financial assets which are measured at cost or amortised cost are reviewed for objective evidence of impairment at each balance sheet date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. All equity instruments, regardless of significance, and other financial assets that are individually significant, are assessed individually for impairment.
2.Average number of employees

20242023
Average number of employees during the year00
3.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables1,4182,627
Bank borrowings and overdrafts-132
Total1,4182,759
4.Creditors: amounts due after one year

2024

2023

££
Other creditors6,49812,574
Total6,49812,574