PAD DEVELOPMENTS (SCOTLAND) LTD


Director	ATWAL, Harjinder Singh


Registered Address	108/1 George Street
	Edinburgh
	EH2 4LH


Registered Number	SC509583 (Scotland)

Balance Sheet as at
31 December 2024

	Notes	2024		2023
		£	£	£	£
Fixed assets
Tangible assets	3		-		197,657
Investment property	4		963,436		666,096
			963,436		863,753
Current assets
Debtors	5	70,614		7,361
Cash at bank and on hand		8,811		371,206
		79,425		378,567
Creditors amounts falling due within one year	6	(642,401)		(848,185)
Net current assets (liabilities)			(562,976)		(469,618)
Total assets less current liabilities			400,460		394,135
Creditors amounts falling due after one year	7		(459,126)		(459,126)
Net assets			(58,666)		(64,991)
Capital and reserves
Called up share capital			100		100
Profit and loss account			(58,766)		(65,091)
Shareholders' funds			(58,666)		(64,991)

The company was entitled to exemption from audit for this reporting period 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 their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
The directors have chosen to not file a copy of the company’s profit and loss account under section 444 (5A) Companies Act 2006.

The financial statements were approved and authorised for issue by the Director on 29 September 2025, and are signed on its behalf by:

ATWAL, Harjinder Singh
Director
Registered Company No. SC509583

PAD DEVELOPMENTS (SCOTLAND) LTD

Notes to the Financial Statements
for the year ended 31 December 2024

1.	Accounting policies

	Statutory information
	The company is a private company limited by shares and registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

	Statement of compliance
	The financial statements have been prepared in accordance with the Companies Act 2006 and FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland including Section 1A Small Entities.

	Functional and presentation currency
	The financial statements are presented in sterling and this is the functional currency of the company.

	Going concern
	The financial statements have been prepared on a going concern basis even though at the balance sheet date the company's net liabilities exceeded its net assets by £58,666 (2023: £63,991). The director considers the going concern basis to be appropriate because in his opinion, the company will obtain sufficient funding from its shareholders to enable it to pay its debts as they fall due.

	Turnover policy
	Turnover represents the rent receivable in the period. Income is recognised in the period to which it relates.

	Current taxation
	Current tax is recognised in profit or loss, except for taxes related to revaluations of land and buildings which are recognised in other comprehensive income. Current tax represents the amount of tax payable (receivable) in respect of taxable profit (loss) for the current, or past, reporting periods. Current tax is measured at the amount expected to be paid (recovered) using the tax rates and laws which have been enacted, or substantively enacted, by the balance sheet date. Where payments to HM Revenue and Customs exceed liabilities owed, an asset is recognised to the extent of the amount of tax recoverable.

Current taxation

Current tax is recognised in profit or loss, except for taxes related to revaluations of land and buildings which are recognised in other comprehensive income.

Current tax represents the amount of tax payable (receivable) in respect of taxable profit (loss) for the current, or past, reporting periods. Current tax is measured at the amount expected to be paid (recovered) using the tax rates and laws which have been enacted, or substantively enacted, by the balance sheet date. Where payments to HM Revenue and Customs exceed liabilities owed, an asset is recognised to the extent of the amount of tax recoverable.

	Tangible fixed assets and depreciation
	Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:


		Straight line (years)
	Land and buildings	10

	Investment property
	Investment property which is property held to earn rentals and/or for capital appreciation is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. The surplus or deficit on revaluation is recognised in profit and loss account.

	Financial instruments
	Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously. Basic financial assets Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised. Basic financial liabilities Basic financial liabilities, including creditors and bank 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 payments 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. Trade creditors are recognised initially at transaction price and subsequently measured at amortized cost using the effective interest method.

Financial instruments

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at
transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the
transaction is measured at the present value of the future receipts discounted at a market rate of
interest. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities
Basic financial liabilities, including creditors and bank 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 payments 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. Trade creditors are recognised initially at transaction price and subsequently measured at amortized cost using the effective interest method.

	Share capital
	Ordinary shares are classified as equity. Incremental costs directly attributable to the issue of new ordinary shares or options are shown in equity as a deduction, net of tax, from the proceeds.

2.	Average number of employees


		2024		2023
	Average number of employees during the year	1		1

3.	Tangible fixed assets

	Land & buildings	Total
	£	£
Cost or valuation
At 01 January 24	210,841	210,841
Transfers	(210,841)	(210,841)
Depreciation and impairment
At 01 January 24	13,184	13,184
Other adjustments	(13,184)	(13,184)
Net book value
At 31 December 24	-	-
At 31 December 23	197,657	197,657

4.	Investment property
	In the opinion of the director, the market value of the other property is not materially different to the carrying value in the accounts as the balance sheet date


		£
	Fair value at 01 January 24	666,096
	Additions	297,340
	At 31 December 24	963,436

5.	Debtors: amounts due within one year

	2024	2023
	£	£
Other debtors	69,032	6,084
Prepayments and accrued income	1,582	1,277
Total	70,614	7,361

6.	Creditors: amounts due within one year

	2024	2023
	£	£
Trade creditors / trade payables	-	412
Other creditors	641,501	842,914
Accrued liabilities and deferred income	900	4,859
Total	642,401	848,185

7.	Creditors: amounts due after one year

	2024	2023
	£	£
Bank borrowings and overdrafts	459,126	459,126
Total	459,126	459,126


	Included in creditors due more than one year are the interest only bank loans amounting to £459,126 (2023: 459,126). The bank loans are secured by way of a fixed charge over the freehold property.

8.	Related party transactions
	Included in debtors falling due within one year are due from companies connected to the director. 2Spicy Ltd £3,900 (2023: Nil); Cup Now UK Ltd £100 (2023: Nil); Icon Brands Global Ltd £5,884 (2023: £5,884); WT Foodies £50,000 (2023: Nil); Yummy Pud Co £5,444 (2023: Nil) Included in creditors falling due within one year are due to the companies connected to the director. Hadplaid Ltd £80,034 (2023: Nil) Included in other creditors due with in one year at the year end is an amount of £561,466 (2023: £841,786) due to the director.

Related party transactions

Included in debtors falling due within one year are due from companies connected to the director.
2Spicy Ltd £3,900 (2023: Nil); Cup Now UK Ltd £100 (2023: Nil); Icon Brands Global Ltd £5,884 (2023: £5,884); WT Foodies £50,000 (2023: Nil); Yummy Pud Co £5,444 (2023: Nil)

Included in creditors falling due within one year are due to the companies connected to the director.
Hadplaid Ltd £80,034 (2023: Nil)

Included in other creditors due with in one year at the year end is an amount of £561,466 (2023: £841,786) due to the director.