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COMPANY REGISTRATION NUMBER: 04014906
Padda Housing Limited
Filleted Unaudited Financial Statements
For the year ended
31 July 2024
Padda Housing Limited
Financial Statements
Year ended 31 July 2024
Contents
Pages
Statement of financial position
1
Notes to the financial statements
2 to 3
Padda Housing Limited
Statement of Financial Position
31 July 2024
2024
2023
Note
£
£
£
Current assets
Debtors
4
10,292
186,815
Cash at bank and in hand
384,469
189,678
---------
---------
394,761
376,493
Creditors: amounts falling due within one year
5
( 296,445)
( 281,222)
---------
---------
Net current assets
98,316
95,271
--------
--------
Total assets less current liabilities
98,316
95,271
--------
--------
Net assets
98,316
95,271
--------
--------
Capital and reserves
Called up share capital
6
100
100
Profit and loss account
98,216
95,171
--------
--------
Shareholders funds
98,316
95,271
--------
--------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 31 July 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- 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 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 25 April 2025 , and are signed on behalf of the board by:
Parminder S Padda
Director
Company registration number: 04014906
Padda Housing Limited
Notes to the Financial Statements
Year ended 31 July 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 173 Jersey Road, Isleworth, England, TW7 4QJ.
2. Accounting policies
Basis of preparation
As the company has not traded and is not a going concern as defined by FRS 102, these financial statements have been prepared on a basis other than a going concern basis as required by the standard. Assets and liabilities have been included at their amounts receivable and payable at the year end. Otherwise the disclosure requirements of FRS 102 have been applied. The financial statements are prepared in UK sterling, which is the functional currency of the entity. Monetary amounts in these financial statements are rounded to the nearest UK pound.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income. In this case, tax is recognised in other comprehensive income. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date. Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
3. Employee numbers
The average number of persons employed by the company during the year amounted to 3 (2023: 3 ).
4. Debtors
2024
2023
£
£
Other debtors
10,292
186,815
--------
---------
5. Creditors: amounts falling due within one year
2024
2023
£
£
Social security and other taxes
714
322
Other creditors
295,731
280,900
---------
---------
296,445
281,222
---------
---------
6. Called up share capital
Issued, called up and fully paid
2024
2023
No.
£
No.
£
Ordinary shares of £ 1 each
100
100
100
100
----
----
----
----
7. Directors' advances, credits and guarantees
During the year the directors entered into the following advances and credits with the company:
2024
Balance brought forward
Advances/ (credits) to the directors
Amounts repaid
Balance outstanding
£
£
£
£
Directors .
176,524
6,308
( 196,219)
( 13,387)
---------
-------
---------
--------
2023
Balance brought forward
Advances/ (credits) to the directors
Amounts repaid
Balance outstanding
£
£
£
£
Directors .
26,721
176,523
( 26,720)
176,524
--------
---------
--------
---------
An amount of £2,491 (2023 - £2,092) based on the official rate of interest on beneficial loan of 2.25% (2023 - 2% & 2.25%) was charged on the loan to the directors.
8. Related party transactions
The company entered into the following related party transactions during the year:
Nature of Relationship Transaction Type 2024 2023
£ £
Directors and shareholders Balance due to/(from) 13,387 (176,524)
Company controlled by Directors Balance due to/(from) 85,000 85,000
Company controlled by Directors Balance due to/(from) 195,000 195,000
An amount of £2,491 (2023 - £2,092) based on the official rate of interest on beneficial loan of 2.25% (2023 - 2% & 2.25%) was charged on the loan to the directors.