REGISTERED NUMBER: 14126886 (England and Wales)

Paynes Developments Ltd

Unaudited Financial Statements for the Year Ended 31 March 2025

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

3

DIRECTORS:

Mrs S P Burbridge

P L Burbridge

REGISTERED OFFICE:

Swanton Farm

Bicknor

Sittingbourne

Kent

ME9 8AT

REGISTERED NUMBER:

14126886 (England and Wales)

ACCOUNTANTS:

Aggarwal & Co

Chartered Accountants

5 London Road

Rainham

Gillingham

Kent

ME8 7RG

CURRENT ASSETS

Inventories

4,086,283

3,674,951

Debtors

4

62,835

12,189

Cash at bank

37,806

35,857

4,186,924

3,722,997

CREDITORS

Amounts falling due within one year

5

4,191,384

3,725,177

NET CURRENT LIABILITIES

(4,460

)

(2,180

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(4,460

)

(2,180

)

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

(4,560

)

(2,280

)

(4,460

)

(2,180

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2025 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 7 October 2025 and were signed on its behalf by:

P L Burbridge - Director

1.	STATUTORY INFORMATION

Paynes Developments 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.

The presentation currency of the financial statements is the Pound Sterling (£).

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.

Going concern

At the year end the company had net liabilities of £4,460. The company is dependent on the financial support of its parent, which has continued to provide this support since the year end.

On this basis, the directors considers it appropriate to prepare the financial statements on the going concern basis.

Income recognition

Income represents the fair value of consideration received or receivable derived from the provision of goods and services to customers during the year (excluding value added tax) and is recognised when the company becomes entitled to it, usually on the rendering of an invoice.

Income is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them.

Construction contracts

When the outcome of a construction contract can be estimated reliably, contract revenue and contract costs are recognised as revenue and expenses respectively by reference to the stage of completion of the contract activity at the balance sheet date. Contract revenue comprises the initial amount of revenue agreed in the contract and variations in the contract work and claims that can be measured reliably.

Financial instruments

The Company enters into basic financial instruments that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third parties and loans to related parties.

Basic financial instruments are recognised at amortised cost, with changes recognised in the income statement.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2024 - NIL).

4.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

19,766

-

Other debtors

43,069

12,189

62,835

12,189

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade creditors

17,788

136,278

Amounts owed to group undertakings

4,171,316

3,588,899

Other creditors

2,280

-

4,191,384

3,725,177

6.	ULTIMATE CONTROLLING PARTY

The company is under the control of Marinada Ltd, a company incorporated in Jersey whose registered office address is 2nd Floor, Commercial House, Commercial Street, St Helier. JE2 3RU, Jersey.