REGISTERED NUMBER: 14217673 (England and Wales)

AUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

PADSFORD LTD

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

J A Blackwell

K Gorman

R O Lincoln

SECRETARY:

R O Lincoln

REGISTERED OFFICE:

18 Kingsland Grange

Woolston

Warrington

WA1 4RW

REGISTERED NUMBER:

14217673 (England and Wales)

AUDITORS:

D.R.E. & Co. (Audit) Limited

7 Lower Brook Street

Oswestry

Shropshire

SY11 2HG

CURRENT ASSETS

Debtors

5

-

90

Cash at bank

930

965

930

1,055

CREDITORS

Amounts falling due within one year

6

4,668

4,758

NET CURRENT LIABILITIES

(3,738

)

(3,703

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(3,738

)

(3,703

)

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

7

(3,838

)

(3,803

)

(3,738

)

(3,703

)

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 15 September 2025 and were signed on its behalf by:

R O Lincoln - Director

1.	STATUTORY INFORMATION

Padsford 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.	STATEMENT OF COMPLIANCE

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.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared under the historical cost convention.

These financial statements are for the individual entity only.

The financial statements are presented in Sterling (£) rounded to the nearest £1.

At the balance sheet date the company had net liabilities of £3,738 (2023: £3,703). As shown in note 6 of the full financial statements £4,668 (2023: £4,758) relates to balances owed to group undertakings. The directors have reviewed the support of group companies and expect this to continue for the foreseeable future and therefore believe the going concern basis of preparation remains appropriate.

Financial instruments

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs, and then subsequently measured at amortised cost. Financial assets classified as receivable within one year are not amortised. Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the company transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the assets has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.

Basic financial liabilities, including creditors and loans, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised. Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Financial liabilities are derecognised when the company's contractual obligations expire or are discharged or cancelled.

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.

4.	EMPLOYEES AND DIRECTORS

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

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

(Unaudited)

£

£

Directors' current accounts

-

90

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

(Unaudited)

£

£

Amounts owed to group undertakings

4,668

4,758

7.

RESERVES

Retained

earnings

£

At 1 January 2024

(3,803

)

Deficit for the year

(35

)

At 31 December 2024

(3,838

)

8.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Francis Nock FCCA (Senior Statutory Auditor)

for and on behalf of D.R.E. & Co. (Audit) Limited

9.	RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

The ultimate controlling party is Safevent Employee Ownership Trust. Safevent Holdings Limited is the parent of the largest and smallest group for which consolidated financial statements are prepared which include Padsford Limited. The registered office of the immediate and ultimate parent company is the same as that of Padsford Limited. Group accounts are freely available from Companies House.

During the year to 31 December 2024, the parent entity, Safevent Holdings Limited underwent a restructure. As part of this restructure, the shares in Glaine Limited were sold via a share for share exchange to Safevent Holdings Limited. Glaine Limited and all of its associates are now wholly owned subsidiaries within the group. Glaine Limited still holds 10% of the shareholding in Padsford Limited.

10.	ULTIMATE CONTROLLING PARTY

The parent company is Safevent Holdings Limited, registered in England and Wales, by virtue of their 100% shareholding. The registered office is at Unit 18 Kingsland Grange, Woolston, Warrington, England, WA1 4RW.

The ultimate controlling party is Safevent Employee Ownership Trust after they acquired 100% of the shares of Safevent Holdings Limited. The company is registered at Unit 18 Kingsland Grange, Woolston, Warrington, England, WA1 4RW.