Company registration number 11628311 (England and Wales)
PHAD PROPERTY LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2025
PHAD PROPERTY LTD
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 6
PHAD PROPERTY LTD
BALANCE SHEET
AS AT
30 APRIL 2025
30 April 2025
- 1 -
2025
2024
Notes
£
£
£
£
Fixed assets
Tangible assets
3
557
696
Investment property
4
2,493,986
2,238,000
2,494,543
2,238,696
Current assets
Debtors
5
6,271
6,752
Cash at bank and in hand
190,411
104,168
196,682
110,920
Creditors: amounts falling due within one year
6
(1,391,192)
(1,112,528)
Net current liabilities
(1,194,510)
(1,001,608)
Total assets less current liabilities
1,300,033
1,237,088
Creditors: amounts falling due after more than one year
7
(535,460)
(603,140)
Provisions for liabilities
(123,811)
(98,311)
Net assets
640,762
535,637
Capital and reserves
Called up share capital
101
101
Revaluation reserve
8
457,131
380,631
Profit and loss reserves
183,530
154,905
Total equity
640,762
535,637

For the financial year ended 30 April 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

T he members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

PHAD PROPERTY LTD
BALANCE SHEET (CONTINUED)
AS AT
30 APRIL 2025
30 April 2025
- 2 -
The financial statements were approved by the board of directors and authorised for issue on 9 January 2026 and are signed on its behalf by:
Paul Oakes
Director
Company registration number 11628311 (England and Wales)
PHAD PROPERTY LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2025
- 3 -
1
Accounting policies
Company information

Phad Property Ltd is a private company limited by shares incorporated in England and Wales. The registered office is 51 Woodville Road, Harborne, Birmingham, UK, B17 9AR.

1.1
Basis of preparation

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary a mounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Going concern

A true t the time of approving the financial statements, t he directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus t he directors continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3
Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

The nature, timing of satisfaction of performance obligations and significant payment terms of the company's major sources of revenue are as follows:

1.4
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Fixtures and fittings
20% on reducing balance

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.5
Investment property

Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value a t the reporting end date. Changes in fair value are recognised in profit or loss.

1.6
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

PHAD PROPERTY LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2025
1
Accounting policies
(Continued)
- 4 -
Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end 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 period end and that are expected to apply to the reversal of the timing difference.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2025
2024
Number
Number
Total
0
1
3
Tangible fixed assets
Fixtures and fittings
£
Cost
At 1 May 2024 and 30 April 2025
1,941
Depreciation and impairment
At 1 May 2024
1,245
Depreciation charged in the year
139
At 30 April 2025
1,384
Carrying amount
At 30 April 2025
557
At 30 April 2024
696
PHAD PROPERTY LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2025
- 5 -
4
Investment property
2025
£
Fair value
At 1 May 2024
1,759,058
Additions
153,986
Revaluations
580,942
At 30 April 2025
2,493,986
5
Debtors
2025
2024
Amounts falling due within one year:
£
£
Other debtors
6,271
6,752
6
Creditors: amounts falling due within one year
2025
2024
£
£
Trade creditors
48
48
Corporation tax
8,670
15,789
Other creditors
1,382,474
1,096,691
1,391,192
1,112,528
7
Creditors: amounts falling due after more than one year
2025
2024
£
£
Bank loans and overdrafts
535,460
603,140
8
Revaluation reserve
2025
2024
£
£
At the beginning of the year
380,631
368,725
Cumulative fair value adjustment transferred to profit or loss on revaluation
76,500
11,906
At the end of the year
457,131
380,631
PHAD PROPERTY LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2025
- 6 -
9
Related Party Disclosures

As at 30 April 202 5 the following balances, included in other creditors due within one year, were due to related companies:

Hardwood Business Services Ltd £52 5,000 (2024: £525,000)

Phad Ltd: £210,000 (2024: £100,000)

The above balances are repayable on demand.

10
Ultimate Controlling Party

The company is controlled by Paul Oakes and Delshad Oakes.

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