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Registration number: 15205725

Play Padel Club Ltd

Unaudited Filleted Financial Statements

for the Period from 12 October 2023 to 31 October 2024

(filleted for filing purposes)

 

Play Padel Club Ltd

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 8

 

Play Padel Club Ltd

Company Information

Directors

E K de Wit

K M de Wit

Registered office

167-169 Great Portland Street
5th Floor
London
W1W 5PF

 

Play Padel Club Ltd

(Registration number: 15205725)
Balance Sheet as at 31 October 2024

Note

2024
£

Fixed assets

 

Tangible assets

4

65,520

Current assets

 

Debtors

5

26,573

Cash at bank and in hand

 

8,006

 

34,579

Creditors: Amounts falling due within one year

6

(36,519)

Net current liabilities

 

(1,940)

Total assets less current liabilities

 

63,580

Creditors: Amounts falling due after more than one year

6

(60,671)

Provisions for liabilities

(609)

Net assets

 

2,300

Capital and reserves

 

Called up share capital

7

300

Retained earnings

2,000

Shareholders' funds

 

2,300

 

Play Padel Club Ltd

(Registration number: 15205725)
Balance Sheet as at 31 October 2024

For the financial period ending 31 October 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 accounts for the period in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 19 June 2025 and signed on its behalf by:
 

.........................................
E K de Wit
Director

.........................................
K M de Wit
Director

 

Play Padel Club Ltd

Notes to the Unaudited Financial Statements for the Period from 12 October 2023 to 31 October 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
167-169 Great Portland Street
5th Floor
London
W1W 5PF

These financial statements were authorised for issue by the Board on 19 June 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
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.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

Tax

The tax expense for the period comprises deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

 

Play Padel Club Ltd

Notes to the Unaudited Financial Statements for the Period from 12 October 2023 to 31 October 2024

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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 and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Office equipment

20% straight line

Plant and machinery

7 years

Freehold property

20 years

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and 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 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 of the creditor for at least twelve months after the reporting date. If there is an unconditional right 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.

Borrowings

 

Play Padel Club Ltd

Notes to the Unaudited Financial Statements for the Period from 12 October 2023 to 31 October 2024

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company (including directors) during the period, was 1.

4

Tangible assets

Land and buildings
£

Plant and machinery
£

Office equipment
£

Total
£

Cost or valuation

Additions

8,636

60,628

6,686

75,950

At 31 October 2024

8,636

60,628

6,686

75,950

Depreciation

Charge for the period

432

8,661

1,337

10,430

At 31 October 2024

432

8,661

1,337

10,430

Carrying amount

At 31 October 2024

8,204

51,967

5,349

65,520

Included within the net book value of land and buildings above is £8,204 in respect of freehold land and buildings.
 

5

Debtors

Current

2024
£

Other debtors

26,573

 

26,573

 

Play Padel Club Ltd

Notes to the Unaudited Financial Statements for the Period from 12 October 2023 to 31 October 2024

6

Creditors

Creditors: amounts falling due within one year

Note

2024
£

Due within one year

 

Bank loans and overdrafts

8

30,335

Taxation and social security

 

2,896

Other creditors

 

3,288

 

36,519

Due after one year

 

Loans and borrowings

8

60,671

Creditors: amounts falling due after more than one year

Note

2024
£

Due after one year

 

Loans and borrowings

8

60,671

7

Share capital

Allotted, called up and fully paid shares

 

2024

 

No.

£

Ordinary of £1 each

300

300

     
 

Play Padel Club Ltd

Notes to the Unaudited Financial Statements for the Period from 12 October 2023 to 31 October 2024

8

Loans and borrowings

2024
£

Non-current loans and borrowings

Other borrowings

60,671

2024
£

Current loans and borrowings

Other borrowings

30,335

9

Related party transactions

Transactions with directors

2024

At 12 October 2023
£

Advances to director
£

At 31 October 2024
£

E K de Wit

Overdrawn DLA

-

26,573

26,573