REGISTERED NUMBER: 05817204 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 December 2024

for

PODPADS LTD

Page

Company Information

1

Chartered Accountants' Report

2

Balance Sheet

3

Notes to the Financial Statements

5

DIRECTORS:

A P C Bullock

R L Everson

R J Falconer

REGISTERED OFFICE:

11 Laura Place

Bath

BA2 4BL

REGISTERED NUMBER:

05817204 (England and Wales)

ACCOUNTANTS:

Richardson Swift

Chartered Accountants

11 Laura Place

Bath

BA2 4BL

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 Podpads Ltd for the year ended 31 December 2019 which comprise the Income

Statement, Balance Sheet, Statement of Changes in Equity 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 Podpads Ltd, 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

Podpads Ltd and state those matters that we have agreed to state to the Board of Directors of Podpads Ltd,

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 Podpads Ltd and its Board

of Directors, as a body, for our work or for this report.

It is your duty to ensure that Podpads Ltd 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 profit of

Podpads Ltd, including disclosures regarding going concern . You consider that Podpads Ltd 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 Podpads Ltd. 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.

Richardson Swift

Chartered Accountants

11 Laura Place

Bath

BA2 4BL

23 December 2025

FIXED ASSETS

Tangible assets

4

628,619

726,843

CURRENT ASSETS

Debtors

5

66,271

93,160

Cash at bank

432,114

7,751

498,385

100,911

CREDITORS

Amounts falling due within one year

6

835,419

637,055

NET CURRENT LIABILITIES

(337,034

)

(536,144

)

TOTAL ASSETS LESS CURRENT LIABILITIES

291,585

190,699

CREDITORS

Amounts falling due after more than one year

7

358,581

434,907

NET LIABILITIES

(66,996

)

(244,208

)

CAPITAL AND RESERVES

Called up share capital

9

16,380

16,380

Share premium

194,140

194,140

Capital redemption reserve

260

260

Retained earnings

(277,776

)

(454,988

)

SHAREHOLDERS' FUNDS

(66,996

)

(244,208

)

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 22 December 2025 and were signed on its behalf by:

A P C Bullock - Director

1.	STATUTORY INFORMATION

Podpads 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.

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.

The directors have prepared the financial statements on a going concern basis despite the deficit on the balance sheet in the belief that, with the support of the directors, the company is in a position to continue trading.

Critical accounting judgements and key sources of estimation uncertainty

No significant judgements or key assumptions have had to be made by the directors in preparing these financial statements.

Turnover

Turnover represents net invoiced sales of services, excluding value added tax. Revenue is recognised when services are rendered

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.

Plant, machinery and pods

-

25% on cost, 15% on reducing balance and 5% on cost

Computer equipment

-

25% on cost

Financial instruments

The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors, loans from banks and other third parties.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the profit or loss.

For financial assets measured at amortised cost, the impairment loss is measured as the difference between an asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate determined under the contract.

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and the best estimate, which is an approximation, of the amount the company would receive for the asset if it were to be sold at the reporting date.

Financial assets and liabilities are offset and the net amount reported in the balance sheet when there is an 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.

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.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

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.

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 16 (2023 - 36 ) .

4.	TANGIBLE FIXED ASSETS

Plant,

machinery

Computer

and pods

equipment

Totals

£

£

£

COST

At 1 January 2024

and 31 December 2024

2,165,416

9,404

2,174,820

DEPRECIATION

At 1 January 2024

1,440,088

7,889

1,447,977

Charge for year

97,824

400

98,224

At 31 December 2024

1,537,912

8,289

1,546,201

NET BOOK VALUE

At 31 December 2024

627,504

1,115

628,619

At 31 December 2023

725,328

1,515

726,843

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade debtors

35,149

76,669

Other debtors

31,122

16,491

66,271

93,160

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Bank loans and overdrafts

76,326

99,385

Trade creditors

9,054

27,719

Taxation and social security

89,752

27,861

Other creditors

660,287

482,090

835,419

637,055

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2024

2023

£

£

Bank loans

358,581

434,907

Included in bank loans is £434,907 (2023 - £511,232) from a government supported CBIL loan.

8.	LEASING AGREEMENTS

At the year end, the company has committed to making operating lease payments totalling £225,000 (2023: £269,000).

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2024

2023

value:

£

£

16,380

Ordinary

£1

16,380

16,380