REGISTERED NUMBER: 05692421 (England and Wales)

Financial Statements for the Year Ended 31 December 2024

for

Urbanpads Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mrs B C Fitzpatrick

P S Taylor

REGISTERED OFFICE:

Richmond House

Lawnswood Business Park

Redvers Close

Leeds

West Yorkshire

LS16 6QY

REGISTERED NUMBER:

05692421 (England and Wales)

ACCOUNTANTS:

Richard Smedley Limited

Chartered Accountants & Registered Auditors

Richmond House

Lawnswood Business Park

Redvers Close

Leeds

West Yorkshire

LS16 6QY

FIXED ASSETS

Investment property

4

1,376,674

1,376,674

CURRENT ASSETS

Debtors

5

9,881

3,770

Cash at bank

14,933

5,347

24,814

9,117

CREDITORS

Amounts falling due within one year

6

121,205

153,683

NET CURRENT LIABILITIES

(96,391

)

(144,566

)

TOTAL ASSETS LESS CURRENT LIABILITIES

1,280,283

1,232,108

CREDITORS

Amounts falling due after more than one year

7

502,098

433,141

NET ASSETS

778,185

798,967

CAPITAL AND RESERVES

Called up share capital

2,520

2,520

Share premium

199,482

199,482

Fair value reserve

9

245,000

245,000

Retained earnings

331,183

351,965

SHAREHOLDERS' FUNDS

778,185

798,967

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 3 September 2025 and were signed on its behalf by:

P S Taylor - Director

1.	STATUTORY INFORMATION

Urbanpads Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover

Turnover represents net invoiced rental income. Revenue is recognised when the company obtains the right to receive rents due.

Deferred income arises when the customer pays rent in advance.

Financial instruments

Basic financial instruments are recognised at amortised cost. Derivative financial instruments are initially recorded at cost and thereafter at fair value with charges recognised in profit or loss.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2023 - NIL).

4.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 January 2024

and 31 December 2024

1,376,674

NET BOOK VALUE

At 31 December 2024

1,376,674

At 31 December 2023

1,376,674

Fair value at 31 December 2024 is represented by:

£

Valuation in 2016

115,000

Valuation in 2017

45,000

Valuation in 2022

85,000

Cost

1,131,674

1,376,674

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Trade debtors

3,404

-

Other debtors

6,477

3,770

9,881

3,770

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Bank loans and overdrafts

3,815

42,231

Trade creditors

8,494

6,299

Taxation and social security

88

8,819

Other creditors

108,808

96,334

121,205

153,683

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.12.24

31.12.23

£

£

Bank loans

2,098

433,141

Other creditors

500,000

-

502,098

433,141

31.12.24

31.12.23

£

£

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

-

260,477

8.	SECURED DEBTS

The following secured debts are included within creditors:

31.12.24

31.12.23

£

£

Bank loans

5,913

475,372

Paul Randall as Security Trustee for the Secured Parties holds fixed and floating charges over all the property or undertakings of the company.

9.

RESERVES

Fair

value

reserve

£

At 1 January 2024

and 31 December 2024

245,000