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Company Registration No. 13460976 (England and Wales)
Padel Sports Ltd Unaudited accounts for the year ended 31 December 2024
Padel Sports Ltd Unaudited accounts Contents
Page
Company information
3
Statement of financial position
4
Notes to the accounts
5
- 2 -
Padel Sports Ltd Company Information for the year ended 31 December 2024
Director
Houman Ashrafzadeh
Secretary
Houman Ashrafzadeh
Company Number
13460976 (England and Wales)
Registered Office
9 Devonshire Mews South Greater London W1G 6QW United Kingdom
Accountants
Gains Accountants Queen Elizabeth Olympic Park Plexal, 14 East Bay Lane London E20 3BS
- 3 -
Padel Sports Ltd Statement of financial position as at 31 December 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Tangible assets
4
2,585,140 
2,362,603 
Current assets
Inventories
48,883 
51,863 
Debtors
5
193,760 
327,832 
Cash at bank and in hand
1,874,600 
519,817 
2,117,243 
899,512 
Creditors: amounts falling due within one year
6
(688,020)
(157,176)
Net current assets
1,429,223 
742,336 
Total assets less current liabilities
4,014,363 
3,104,939 
Creditors: amounts falling due after more than one year
7
(2,206,920)
(2,221,000)
Net assets
1,807,443 
883,939 
Capital and reserves
Called up share capital
8
2,019 
2,000 
Share premium
924,317 
919,000 
Profit and loss account
881,107 
(37,061)
Shareholders' funds
1,807,443 
883,939 
For the year ending 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 10 June 2025 and were signed on its behalf by
Houman Ashrafzadeh Director Company Registration No. 13460976
- 4 -
Padel Sports Ltd Notes to the Accounts for the year ended 31 December 2024
1
Statutory information
Padel Sports Ltd is a private company, limited by shares, registered in England and Wales, registration number 13460976. The registered office is 9 Devonshire Mews South, Greater London, W1G 6QW, United Kingdom.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover 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.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
25% Straight line
Fixtures & fittings
Straight line over term of lease
Computer equipment
20% Straight line
Inventories
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
Pension costs
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
- 5 -
Padel Sports Ltd Notes to the Accounts for the year ended 31 December 2024
Leased assets
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term. Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
Investments
Investments in shares are included at fair value.
4
Tangible fixed assets
Plant & machinery 
Fixtures & fittings 
Computer equipment 
Total 
£ 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At cost 
At 1 January 2024
18,781 
2,514,116 
43,808 
2,576,705 
Additions
36,996 
482,705 
25,433 
545,134 
At 31 December 2024
55,777 
2,996,821 
69,241 
3,121,839 
Depreciation
At 1 January 2024
2,112 
195,782 
16,208 
214,102 
Charge for the year
10,686 
300,639 
11,272 
322,597 
At 31 December 2024
12,798 
496,421 
27,480 
536,699 
Net book value
At 31 December 2024
42,979 
2,500,400 
41,761 
2,585,140 
At 31 December 2023
16,669 
2,318,334 
27,600 
2,362,603 
5
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
Trade debtors
77,265 
83,665 
Accrued income and prepayments
40,910 
18,264 
Other debtors
585 
150,903 
118,760 
252,832 
Amounts falling due after more than one year
Other debtors
75,000 
75,000 
- 6 -
Padel Sports Ltd Notes to the Accounts for the year ended 31 December 2024
6
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
Bank loans and overdrafts
57,070 
- 
VAT
796 
56,021 
Trade creditors
76,322 
9,606 
Taxes and social security
141,301 
- 
Other creditors
797 
1,298 
Loans from directors
(910)
- 
Accruals
335,046 
85,348 
Deferred income
77,598 
4,903 
688,020 
157,176 
7
Creditors: amounts falling due after more than one year
2024 
2023 
£ 
£ 
Bank loans
185,920 
300,000 
Other creditors
2,021,000 
1,921,000 
2,206,920 
2,221,000 
8
Share capital
2024 
2023 
£ 
£ 
Allotted, called up and fully paid:
5,000,000 A Ordinary shares of £0.0002 each
1,000.00 
1,000.00 
5,000,000 B Ordinary shares of £0.0002 each
1,000.00 
1,000.00 
97,031 C Ordinary shares of £0.0002 each
19.40 
- 
2,019.40 
2,000.00 
Shares issued during the period:
97,031 C Ordinary shares of £0.0002 each
19.40 
9
Operating lease commitments
2024 
2023 
£ 
£ 
At 31 December 2024 the company had the following future minimum lease payments under non-cancellable operating leases for each of the following periods:
Not later than one year
135,000 
135,000 
Later than one year and not later than five years
540,000 
540,000 
Later than five years
493,397 
630,000 
1,168,397 
1,305,000 
10
Loans to directors
Brought Forward 
Advance/ credit 
Repaid 
Carried Forward 
£ 
£ 
£ 
£ 
- 
911 
- 
911 
- 
911 
- 
911 
- 7 -
Padel Sports Ltd Notes to the Accounts for the year ended 31 December 2024
11
Average number of employees
During the year the average number of employees was 13 (2023: 9).
- 8 -