REGISTERED NUMBER: 09264230 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 December 2024

for

Padog Enterprises Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

Chartered Accountants' Report

8

DIRECTORS:

Mr R Williams

Mr D H Wynne-Finch

REGISTERED OFFICE:

Gate Farm

Bodedern

Holyhead

Anglesey

LL65 3UE

REGISTERED NUMBER:

09264230 (England and Wales)

ACCOUNTANTS:

Dunn & Ellis Cyf

Chartered Accountants

Adeilad St David's Building

Stryd Lombard Street

Porthmadog

Gwynedd

LL49 9AP

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

664,169

786,456

Herd basis

6

327,100

349,900

991,269

1,136,356

CURRENT ASSETS

Stocks

211,000

211,000

Debtors

7

60,118

53,127

Cash at bank

99

99

271,217

264,226

CREDITORS

Amounts falling due within one year

8

558,444

459,725

NET CURRENT LIABILITIES

(287,227

)

(195,499

)

TOTAL ASSETS LESS CURRENT LIABILITIES

704,042

940,857

CREDITORS

Amounts falling due after more than one year

9

(875,373

)

(1,083,362

)

PROVISIONS FOR LIABILITIES

(52,656

)

(81,327

)

NET LIABILITIES

(223,987

)

(223,832

)

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

(224,087

)

(223,932

)

(223,987

)

(223,832

)

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 27 November 2025 and were signed on its behalf by:

Mr R Williams - Director

1.	STATUTORY INFORMATION

Padog Enterprises 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.

Development costs are being amortised evenly over their estimated useful life of nil years.

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.

Long leasehold

-

15% on cost

Plant and machinery

-

20% on reducing balance

Motor vehicles

-

20% on reducing balance

Computer equipment

-

20% on reducing balance

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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

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.

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 2 (2023 - 2 ) .

4.	INTANGIBLE FIXED ASSETS

Other

intangible

assets

£

COST

At 1 January 2024

and 31 December 2024

35,760

AMORTISATION

At 1 January 2024

and 31 December 2024

35,760

NET BOOK VALUE

At 31 December 2024

-

At 31 December 2023

-

5.	TANGIBLE FIXED ASSETS

Long

Plant and

Motor

Computer

leasehold

machinery

vehicles

equipment

Totals

£

£

£

£

£

COST

At 1 January 2024

250,842

1,111,065

4,200

617

1,366,724

Additions

-

13,896

-

-

13,896

At 31 December 2024

250,842

1,124,961

4,200

617

1,380,620

DEPRECIATION

At 1 January 2024

47,796

530,420

1,830

222

580,268

Charge for year

16,722

118,908

474

79

136,183

At 31 December 2024

64,518

649,328

2,304

301

716,451

NET BOOK VALUE

At 31 December 2024

186,324

475,633

1,896

316

664,169

At 31 December 2023

203,046

580,645

2,370

395

786,456

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

Plant and

machinery

£

COST

At 1 January 2024

and 31 December 2024

67,385

DEPRECIATION

At 1 January 2024

and 31 December 2024

31,297

NET BOOK VALUE

At 31 December 2024

36,088

At 31 December 2023

36,088

6.	HERD BASIS

Herd

basis

£

COST

At 1 January 2024

349,900

Additions

68,400

Disposals

(91,200

)

At 31 December 2024

327,100

NET BOOK VALUE

At 31 December 2024

327,100

At 31 December 2023

349,900

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Trade debtors

19,007

21,085

Other debtors

41,111

32,042

60,118

53,127

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Bank loans and overdrafts

359,879

269,964

Hire purchase contracts

6,383

9,587

Trade creditors

71,604

41,885

Taxation and social security

(3,062

)

691

Other creditors

123,640

137,598

558,444

459,725

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.12.24

31.12.23

£

£

Bank loans

862,607

1,064,213

Hire purchase contracts

12,766

19,149

875,373

1,083,362

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Padog Enterprises Limited for the year ended 31 December 2024 which comprise the Income Statement, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Padog Enterprises Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Padog Enterprises Limited and state those matters that we have agreed to state to the Board of Directors of Padog Enterprises Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Padog Enterprises Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Padog Enterprises Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Padog Enterprises Limited. You consider that Padog Enterprises Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Padog Enterprises Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Dunn & Ellis Cyf

Chartered Accountants

Adeilad St David's Building

Stryd Lombard Street

Porthmadog

Gwynedd

LL49 9AP

Date: .............................................