ACCOUNTS - Final Accounts preparation

Cash and cash equivalents

Registered number: 14856302

PADEL HUB SL2 LIMITED

UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE PERIOD ENDED 31 DECEMBER 2024

PADEL HUB SL2 LIMITED

REGISTERED NUMBER: 14856302

BALANCE SHEET

AS AT 31 DECEMBER 2024

	31 December	31 May
	2024	2024
Note	£	£

Fixed assets
Tangible assets	4		238,195		221,882
			238,195		221,882
Current assets
Debtors: amounts falling due within one year	5	397,503		456,532
Cash at bank and in hand	6	16,115		3,555
		413,618		460,087
Creditors: amounts falling due within one year	7	(656,937)		(1,194,133)
Net current liabilities			(243,319)		(734,046)
Total assets less current liabilities			(5,124)		(512,164)
Creditors: amounts falling due after more than one year	8		(12,649)		(13,864)

Net liabilities			(17,773)		(526,028)

Capital and reserves
Called up share capital	213	85
Share premium account	999,873	-
Profit and loss account	(1,017,859)	(526,113)
	(17,773)	(526,028)

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PADEL HUB SL2 LIMITED

REGISTERED NUMBER: 14856302

BALANCE SHEET (CONTINUED)

AS AT 31 DECEMBER 2024

The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the Period in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The Company's financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

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

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by:

E Pilnikova

Director

Date: 22 May 2026

The notes on pages 3 to 9 form part of these financial statements.

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PADEL HUB SL2 LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 31 DECEMBER 2024

1.	General information

Padel Hub SL2 Limited is a private company limited by shares, incorporated in the United Kingdom and registered in England and Wales (registered number: 14856302). The registered office address is Unit 1 Albion close, Slough, England, SL2 5DT.

The primary activity of the Company is the operation of sports facilities.

The financial statements are presented in Sterling, which is the functional currency of the Company.

2.Accounting policies

2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies.

The following principal accounting policies have been applied:

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PADEL HUB SL2 LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:

∙the Company has transferred the significant risks and rewards of ownership to the buyer;

∙the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;

∙the amount of revenue can be measured reliably;

∙it is probable that the Company will receive the consideration due under the transaction; and

∙the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:

∙the amount of revenue can be measured reliably;

∙it is probable that the Company will receive the consideration due under the contract;

∙the stage of completion of the contract at the end of the reporting period can be measured reliably; and

∙the costs incurred and the costs to complete the contract can be measured reliably.

2.3

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

2.4

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

At each reporting date the Company assesses whether there is any indication of impairment. If such indication exists, the recoverable amount of the asset is determined which is the higher of its fair value less costs to sell and its value in use. An impairment loss is recognised where the carrying amount exceeds the recoverable amount.

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PADEL HUB SL2 LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

2.4

Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Long-term leasehold property	-	10%	Straight Line
Short-term leasehold property	-	10%	Straight Line
Plant and machinery	-	25%	Straight Line
Motor vehicles	-	25%	Reducing Balance
Office equipment	-	25%	Reducing Balance
Computer equipment	-	25%	Straight Line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

2.5

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

2.6

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

2.7

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

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PADEL HUB SL2 LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 31 DECEMBER 2024

Employees

The average monthly number of employees, including the director, during the Period was as follows:

	31 December	Period ended 31 May
	2024	2024
	No.	No.

Employees	8	5

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		PADEL HUB SL2 LIMITED

NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 DECEMBER 2024

Tangible fixed assets

	Long-term leasehold property	Short-term leasehold property	Plant and machinery	Motor vehicles	Office equipment	Computer equipment	Total
	£	£	£	£	£	£	£
Cost or valuation
At 1 June 2024	172,459	26,342	5,928	21,800	12,203	6,818	245,550
Additions	25,066	-	115	1,500	7,273	-	33,954
At 31 December 2024	197,525	26,342	6,043	23,300	19,476	6,818	279,504
Depreciation
At 1 June 2024	17,246	603	689	2,988	1,456	688	23,670
Charge for the Period on owned assets	9,613	1,501	777	2,962	1,892	894	17,639
At 31 December 2024	26,859	2,104	1,466	5,950	3,348	1,582	41,309
Net book value
At 31 December 2024	170,666	24,238	4,577	17,350	16,128	5,236	238,195

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PADEL HUB SL2 LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 31 DECEMBER 2024

Debtors

					31 December	31 May
					2024	2024
					£	£


Trade debtors	5,898	3,162
Amounts owed by group undertakings	109,562	49,287
Other debtors	272,117	306,951
Prepayments and accrued income	9,926	97,132
	397,503	456,532

Cash at bank and in hand	16,115	3,555
	16,115	3,555

Other loans	215,151	1,074,085
Trade creditors	127,789	100,392
Amounts owed to group undertakings	252,688	-
Other taxation and social security	-	4,875
Obligations under finance lease and hire purchase contracts	2,089	2,089
Other creditors	48,987	-
Accruals and deferred income	10,233	12,692
	656,937	1,194,133

Included within other creditors is a balance that was under dispute over its accuracy and quantum as at 31st December 2024. The amount was subsequently settled as part of a wider settlement agreement reached between the relevant parties on 23rd March 2026.

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PADEL HUB SL2 LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 31 DECEMBER 2024

Net obligations under finance leases and hire purchase contracts	12,649	13,864
	12,649	13,864

Within one year	2,089	2,089
Between 1-5 years	12,648	13,866
	14,737	15,955

10.	Prior year adjustment

During the period, the company identified an error in the prior year relating to the recording of share capital. Share capital had been overstated due to an incorrect allotment entry, with a corresponding overstatement of receivables.

The error has been corrected by restating the opening balances as at 1 June 2024. Share capital and receivables have each been reduced by £15. There is no impact on profit or loss.

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