REGISTERED NUMBER: 03665665 (England and Wales)

FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

PATIDAR LIMITED

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

DIRECTORS:

Mr Hemant Patel

Mr Hitendra Magan Patel

Mrs Nila Patel

Mrs Daxa Kanbi

REGISTERED OFFICE:

9 Churchill Court

58 Station Road

North Harrow

HA2 7SA

REGISTERED NUMBER:

03665665 (England and Wales)

ACCOUNTANTS:

Chapmans

Chartered Accountants

9 Churchill Court

58 Station Road

North Harrow

HA2 7SA

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

829,389

874,126

Investments

6

130,198

130,198

Investment property

7

805,494

436,286

1,765,081

1,440,610

CURRENT ASSETS

Stocks

143,250

161,790

Debtors

8

1,201,990

1,052,220

Cash at bank and in hand

1,054,367

1,359,150

2,399,607

2,573,160

CREDITORS

Amounts falling due within one year

9

142,824

139,735

NET CURRENT ASSETS

2,256,783

2,433,425

TOTAL ASSETS LESS CURRENT LIABILITIES

4,021,864

3,874,035

CREDITORS

Amounts falling due after more than one year

10

(137,557

)

(251,714

)

PROVISIONS FOR LIABILITIES

(39,025

)

(42,331

)

NET ASSETS

3,845,282

3,579,990

CAPITAL AND RESERVES

Called up share capital

99

99

Retained earnings

3,845,183

3,579,891

SHAREHOLDERS' FUNDS

3,845,282

3,579,990

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 26 September 2025 and were signed on its behalf by:

Mr Hemant Patel - Director

1.	STATUTORY INFORMATION

Patidar Limited 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.

Turnover

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

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Freehold property

-

2% on cost and at varying rates on cost

Leasehold improvements

-

10% on cost

Fixtures and fittings

-

15% on reducing balance

Motor vehicles

-

25% on reducing balance

Investment property

Investment property is included at fair value. Gains are recognised in the income statement. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.

Stocks

Inventories have been valued at the lower of cost and estimated selling price less costs to sell.

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 statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 24 (2023 - 24 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 January 2024

and 31 December 2024

20,000

AMORTISATION

At 1 January 2024

and 31 December 2024

20,000

NET BOOK VALUE

At 31 December 2024

-

At 31 December 2023

-

5.	TANGIBLE FIXED ASSETS

Fixtures

Freehold

Leasehold

and

Motor

property

improvements

fittings

vehicles

Totals

£

£

£

£

£

COST

At 1 January 2024

893,496

25,000

540,949

144,595

1,604,040

Additions

-

-

11,984

-

11,984

At 31 December 2024

893,496

25,000

552,933

144,595

1,616,024

DEPRECIATION

At 1 January 2024

214,355

17,500

417,758

80,301

729,914

Charge for year

17,870

2,500

20,277

16,074

56,721

At 31 December 2024

232,225

20,000

438,035

96,375

786,635

NET BOOK VALUE

At 31 December 2024

661,271

5,000

114,898

48,220

829,389

At 31 December 2023

679,141

7,500

123,191

64,294

874,126

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Motor

vehicles

£

COST

At 1 January 2024

and 31 December 2024

137,645

DEPRECIATION

At 1 January 2024

73,475

Charge for year

16,043

At 31 December 2024

89,518

NET BOOK VALUE

At 31 December 2024

48,127

At 31 December 2023

64,170

6.	FIXED ASSET INVESTMENTS

Investments (neither listed nor unlisted) were as follows:

2024

2023

£

£

Brought forward

130,198

130,198

7.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 January 2024

436,286

Additions

369,208

At 31 December 2024

805,494

NET BOOK VALUE

At 31 December 2024

805,494

At 31 December 2023

436,286

8.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Other debtors

1,201,990

1,052,220

9.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade creditors

262

10,701

Taxation and social security

142,562

117,067

Other creditors

-

11,967

142,824

139,735

10.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2024

2023

£

£

Bank loans

114,005

216,079

Hire purchase contracts

23,552

35,635

137,557

251,714

Amounts falling due in more than five years:

Repayable otherwise than by instalments

Bank loans more 5 yrs non-inst

95,662

142,771

11.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 December 2024 and 31 December 2023:

2024

2023

£

£

Mr Hemant Patel

Balance outstanding at start of year

(3,036

)

23,299

Amounts advanced

61,807

-

Amounts repaid

(38,864

)

(26,335

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

19,907

(3,036

)

Mr Hitendra Magan Patel

Balance outstanding at start of year

(1,517

)

11,650

Amounts advanced

30,904

-

Amounts repaid

(19,432

)

(13,167

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

9,955

(1,517

)

Mrs Nila Patel

Balance outstanding at start of year

(1,517

)

11,650

Amounts advanced

30,904

-

Amounts repaid

(19,433

)

(13,167

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

9,954

(1,517

)

Mrs Daxa Kanbi

Balance outstanding at start of year

(1,517

)

11,650

Amounts advanced

30,904

-

Amounts repaid

(19,432

)

(13,167

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

9,955

(1,517

)

12.	RELATED PARTY DISCLOSURES

During the year, the company paid £16,700 (2023: £16,700) in rent to the directors

Other debtors include loans of £249,145 (2023: £249,145) to Seva Patidar Limited, £ 6,227 (2023: £6,227) to Ghelani Limited, and £726,848 (2023: £726,848) to Patidar Properties Limited companies related by virtue of common directorship. Other debtors also includes a loan of £70,000 (2023: £70,000) to PRP Trading Limited, a company in which H. Patel is a director.

All the above loans are interest free and repayable on demand.

13.	ULTIMATE CONTROLLING PARTY