My Pad Properties Ltd - Accounts to registrar (filleted)

REGISTERED NUMBER: 09188275 (England and Wales)

FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

MY PAD PROPERTIES LTD

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

S P Bristow

Mrs J S Bristow

S L Bristow

Ms L E Figoli

REGISTERED OFFICE:

Church View Chambers

38 Market Square

Toddington

Bedfordshire

LU5 6BS

REGISTERED NUMBER:

09188275 (England and Wales)

ACCOUNTANTS:

Landers Accountants Ltd

Church View Chambers

38 Market Square

Toddington

Bedfordshire

LU5 6BS

FIXED ASSETS

Tangible assets

4

2,759,560

2,764,471

CURRENT ASSETS

Debtors

5

87,284

53,083

Cash at bank

12,618

35,360

99,902

88,443

CREDITORS

Amounts falling due within one year

6

183,682

172,384

NET CURRENT LIABILITIES

(83,780

)

(83,941

)

TOTAL ASSETS LESS CURRENT
LIABILITIES

2,675,780

2,680,530

CREDITORS

Amounts falling due after more than one
year

7

(1,951,184

)

(1,946,940

)

PROVISIONS FOR LIABILITIES

(68,209

)

-

NET ASSETS

656,387

733,590

CAPITAL AND RESERVES

Called up share capital

1

Share premium

456,035

Retained earnings

200,351

277,554

SHAREHOLDERS' FUNDS

656,387

733,590

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 and authorised for issue by the Board of Directors and authorised for issue on 24 March 2025 and were signed on its behalf by:

S P Bristow - Director

1.	STATUTORY INFORMATION

My Pad Properties 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.

The presentation currency is the Pound Sterling.

The accounts are rounded to be the nearest £1.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery

-

20% on reducing balance

Fixtures and fittings

-

20% on reducing balance

Computer equipment

-

33% on reducing balance

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Freehold

Plant and

and

Computer

property

machinery

fittings

equipment

Totals

£

COST OR VALUATION

At 1 January 2024

2,737,379

474

57,863

602

2,796,318

Additions

-

622

-

622

At 31 December 2024

2,737,379

474

58,485

602

2,796,940

DEPRECIATION

At 1 January 2024

-

186

31,205

456

31,847

Charge for year

-

57

5,427

49

5,533

At 31 December 2024

-

243

36,632

505

37,380

NET BOOK VALUE

At 31 December 2024

2,737,379

231

21,853

97

2,759,560

At 31 December 2023

2,737,379

288

26,658

146

2,764,471

Cost or valuation at 31 December 2024 is represented by:

Fixtures

Freehold

Plant and

and

Computer

property

machinery

fittings

equipment

Totals

£

Valuation in 2021

2,430,971

140

42,711

602

2,474,424

Valuation in 2022

216,408

157

10,305

-

226,870

Valuation in 2023

90,000

177

4,847

-

95,024

Valuation in 2024

-

622

-

622

2,737,379

474

58,485

602

2,796,940

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

Other debtors

87,284

53,083

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

Bank loans and overdrafts

6,132

6,277

Payments on account

6,098

3,932

Taxation and social security

30,985

23,361

Other creditors

140,467

138,814

183,682

172,384

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR

31.12.24

31.12.23

£

Bank loans

1,951,184

1,946,940

Amounts falling due in more than five years:

Repayable otherwise than by instalments

Bank loans more 5 yrs non-inst

1,949,356

1,939,243

8.	RELATED PARTY DISCLOSURES

During the year, the company made advances of £48,969 (2023: £0) to Blue Squid Ltd, a company in which the directors have a controlling interest.

During the year, the company received advances of £137 (2023: £4,519) from Blue Squid Trading UK Ltd, a company in which a director has a controlling interest.

The loans were interest free and repayable on demand.