| REGISTERED NUMBER: |
| Unaudited Financial Statements for the Year Ended 31 March 2025 |
| for |
| PAD Electrics Limited |
| REGISTERED NUMBER: |
| Unaudited Financial Statements for the Year Ended 31 March 2025 |
| for |
| PAD Electrics Limited |
| PAD Electrics Limited (Registered number: 08803440) |
| Contents of the Financial Statements |
| for the Year Ended 31 March 2025 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 4 |
| PAD Electrics Limited |
| Company Information |
| for the Year Ended 31 March 2025 |
| DIRECTOR: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| 49 Hurford Drive |
| Thatcham |
| Berkshire |
| RG19 4WA |
| PAD Electrics Limited (Registered number: 08803440) |
| Balance Sheet |
| 31 March 2025 |
| 31.3.25 | 31.3.24 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Intangible assets | 4 |
| Tangible assets | 5 |
| CURRENT ASSETS |
| Stocks | 6 |
| Debtors | 7 |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 8 |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year |
9 |
( |
) |
( |
) |
| PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital | 10 |
| Capital redemption reserve |
| Retained earnings |
| SHAREHOLDERS' FUNDS |
| The director acknowledges his 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. |
| PAD Electrics Limited (Registered number: 08803440) |
| Balance Sheet - continued |
| 31 March 2025 |
| The financial statements were approved by the director and authorised for issue on |
| PAD Electrics Limited (Registered number: 08803440) |
| Notes to the Financial Statements |
| for the Year Ended 31 March 2025 |
| 1. | STATUTORY INFORMATION |
| PAD Electrics Limited is a |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| Turnover |
| Turnover represents the fair value of consideration receivable for goods and services supplied in the normal course of business, excluding value added tax and trade discounts. |
| Revenue is recognised when it is probable that the economic benefits associated with the transaction will flow to the company and the amount of revenue can be measured reliably. |
| Revenue from electrical installation and maintenance services is recognised based on the stage of completion at the balance sheet date where the outcome of the contract can be reliably measured. The stage of completion is determined by reference to work certified or by an assessment of work performed. Smaller jobs are recognised as turnover upon completion of the work, while supply-only sales of materials or goods are recognised when control of the goods passes to the customer, usually upon delivery or collection. |
| Where the outcome of a contract cannot be estimated reliably, revenue is recognised only to the extent of recoverable costs incurred, and expected losses on contracts are recognised immediately in the profit and loss account. |
| 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 |
| Motor vehicles | - |
| Computer equipment | - |
| Stock and work in progress |
| Stocks and work in progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. |
| Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition. |
| Work in progress represents the value of incomplete contract work at the balance sheet date and is stated at cost plus recognised profit, less any foreseeable losses and progress billings. Cost includes materials, direct labour, and an appropriate proportion of overheads. |
| PAD Electrics Limited (Registered number: 08803440) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 March 2025 |
| 2. | ACCOUNTING POLICIES - continued |
| 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. |
| Hire purchase and leasing commitments |
| Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease. |
| Assets held under finance leases which are leases or hire purchase where substantially all the risks and rewards of ownership of the asset have passed to the company and are capitalised on the balance sheet. These assets are depreciated over the shorter of their useful lives or the term of the lease. |
| Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease. |
| 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 |
| PAD Electrics Limited (Registered number: 08803440) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 March 2025 |
| 4. | INTANGIBLE FIXED ASSETS |
| Goodwill |
| £ |
| COST |
| At 1 April 2024 |
| and 31 March 2025 |
| AMORTISATION |
| At 1 April 2024 |
| and 31 March 2025 |
| NET BOOK VALUE |
| At 31 March 2025 |
| At 31 March 2024 |
| 5. | TANGIBLE FIXED ASSETS |
| Motor | Computer |
| vehicles | equipment | Totals |
| £ | £ | £ |
| COST |
| At 1 April 2024 |
| Additions |
| Disposals | ( |
) | ( |
) |
| At 31 March 2025 |
| DEPRECIATION |
| At 1 April 2024 |
| Charge for year |
| Eliminated on disposal | ( |
) | ( |
) |
| At 31 March 2025 |
| NET BOOK VALUE |
| At 31 March 2025 |
| At 31 March 2024 |
| 6. | STOCKS |
| 31.3.25 | 31.3.24 |
| £ | £ |
| Stocks |
| Work-in-progress |
| PAD Electrics Limited (Registered number: 08803440) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 March 2025 |
| 7. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 31.3.25 | 31.3.24 |
| £ | £ |
| Trade debtors |
| Other debtors |
| VAT |
| Prepayments and accrued income |
| 8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 31.3.25 | 31.3.24 |
| £ | £ |
| Trade creditors |
| Tax |
| Social security and other taxes |
| VAT | - | 3,433 |
| Credit card creditor |
| Hire purchase <1 year | 16,114 | 3,495 |
| Other loans <1yr | 13,867 | 13,730 |
| Other creditors | 364 | - |
| Directors' current accounts | 63 | 744 |
| Accrued expenses |
| 9. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 31.3.25 | 31.3.24 |
| £ | £ |
| Other loans >1 yr | 40,071 | 53,945 |
| Hire Purchase > 1 year | 49,451 | 10,484 |
| 10. | CALLED UP SHARE CAPITAL |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 31.3.25 | 31.3.24 |
| value: | £ | £ |
| Ordinary | .01 | 1 | 1 |
| 11. | CAPITAL COMMITMENTS |
| 31.3.25 | 31.3.24 |
| £ | £ |
| Contracted but not provided for in the |
| financial statements |
| The total amount of financial commitments not included in the balance sheet is £nil (2024: £4,026). This related to the amounts remaining on a motor operating lease agreement which was settled in the year. |
| PAD Electrics Limited (Registered number: 08803440) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 March 2025 |
| 12. | DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES |
| The following advances and credits to a director subsisted during the years ended 31 March 2025 and 31 March 2024: |
| 31.3.25 | 31.3.24 |
| £ | £ |
| Balance outstanding at start of year | ( |
) | ( |
) |
| Amounts advanced |
| Amounts repaid | ( |
) |
| Amounts written off | - | - |
| Amounts waived | - | - |
| Balance outstanding at end of year | ( |
) | ( |
) |
| 13. | RELATED PARTY DISCLOSURES |
| During the year the director made a loan with the company. At the balance sheet date the |
| amount owed to the director was £63 (2024: £744). |
| 14. | ULTIMATE CONTROLLING PARTY |
| The controlling party is A Dunn. |