Registration number: SC501508

Paddy Estates Ltd

Contents

Statement of Financial Position	1 to 2
Notes to the Financial Statements	3 to 8

Paddy Estates Ltd

(Registration number: SC501508)
Statement of Financial Position as at 31 March 2025

	Note	2025 £	2024 £
Fixed assets
Tangible assets	4	40,381	49,571
Investment property	5	2,005,049	1,997,846
		2,045,430	2,047,417
Current assets
Debtors	6	60,830	58,473
Cash at bank and in hand		12,348	26,722
		73,178	85,195
Creditors: Amounts falling due within one year	7	(356,784)	(394,116)
Net current liabilities		(283,606)	(308,921)
Total assets less current liabilities		1,761,824	1,738,496
Creditors: Amounts falling due after more than one year	7	(997,420)	(1,029,536)
Provisions for liabilities		(79,265)	(79,265)
Net assets		685,139	629,695
Capital and reserves
Called up share capital		2	2
Retained earnings	8	685,137	629,693
Shareholders' funds		685,139	629,695

For the financial year ending 31 March 2025 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

•	The members have not required the Company to obtain an audit of its accounts for the year in question in accordance with section 476; and
•	The Directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the Directors have not delivered to the registrar a copy of the Income Statement.

Approved and authorised by the Board on 21 December 2025 and signed on its behalf by:
 

Paddy Estates Ltd

(Registration number: SC501508)
Statement of Financial Position as at 31 March 2025

......................................... Mr Simon Douglas Flynn Director

Paddy Estates Ltd

Notes to the Financial Statements for the Year Ended 31 March 2025

1	General information

The Company is a private company limited by share capital, incorporated in Scotland.

The address of its registered office is:
29 Commercial Street
Dundee
Tayside
DD1 3DG
Scotland

The principal place of business is:
8 Farington Terrace
Dundee
Angus
DD2 1LP
Scotland

2	Accounting policies

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the Company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The Company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the Company's activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

Paddy Estates Ltd

Notes to the Financial Statements for the Year Ended 31 March 2025

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Fixtures & Fittings	20% straight line
Office Equipment	33% reducing balance

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the statement of financial position as a finance lease obligation.

Lease payments are apportioned between finance costs in the income statement and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

Paddy Estates Ltd

Notes to the Financial Statements for the Year Ended 31 March 2025

Financial instruments

Classification
Financial instruments are classified and accounted for, according to the substance of the contractual agreement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

3	Staff numbers

The average number of persons employed by the Company (including Directors) during the year, was 2 (2024 - 1).

4	Tangible assets

	Fixtures and fittings £	Plant and machinery £	Office equipment £	Total £
Cost or valuation
At 1 April 2024	42,782	45,000	4,318	92,100
At 31 March 2025	42,782	45,000	4,318	92,100
Depreciation
At 1 April 2024	37,921	1,125	3,483	42,529
Charge for the year	2,331	6,581	278	9,190
At 31 March 2025	40,252	7,706	3,761	51,719
Carrying amount
At 31 March 2025	2,530	37,294	557	40,381
At 31 March 2024	4,861	43,875	835	49,571

5	Investment properties

	2025 £
At 1 April 2024	1,997,846
Additions	7,203
Disposals	-
Fair value adjustments	-
At 31 March 2025	2,005,049

The last valuation of the properties was at 31 March 2025 by the directors and they are of the opinion that they are stated at fair value in these accounts.

Paddy Estates Ltd

Notes to the Financial Statements for the Year Ended 31 March 2025

6

Debtors

Current	2025 £	2024 £
Trade debtors	8,117	11,180
Other debtors	52,713	47,293
	60,830	58,473

Paddy Estates Ltd

Notes to the Financial Statements for the Year Ended 31 March 2025

7

Creditors

Creditors: amounts falling due within one year

	Note	2025 £	2024 £
Due within one year
Loans and borrowings		89,192	95,102
Trade creditors		132	(107)
Taxation and social security		43,073	49,049
Accruals and deferred income		3,144	4,027
Other creditors		221,243	246,045
		356,784	394,116

The bank borrowings are secured by standard security held over various investment properties.

Creditors: amounts falling due after more than one year

	Note	2025 £	2024 £
Due after one year
Loans and borrowings		997,420	1,029,536

	2025 £	2024 £
Due after more than five years
After more than five years by instalments	-	690,832

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