ACCOUNTS - Final Accounts preparation

Cash and cash equivalents

Registered number: 15253417

THE PADEL HUB RH17 LTD

UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE PERIOD ENDED 31 DECEMBER 2024

THE PADEL HUB RH17 LTD

REGISTERED NUMBER: 15253417

BALANCE SHEET

AS AT 31 DECEMBER 2024

	31 December	31 May
	2024	2024
Note	£	£

Fixed assets
Tangible assets	4		446,856		472,216
			446,856		472,216
Current assets
Debtors: amounts falling due within one year	5	395,162		400,099
Cash at bank and in hand	6	28,476		7,513
		423,638		407,612
Creditors: amounts falling due within one year	7	(263,574)		(270,641)
Net current assets			160,064		136,971
Total assets less current liabilities			606,920		609,187
Creditors: amounts falling due after more than one year	8		-		(704,763)

Net assets/(liabilities)			606,920		(95,576)

Capital and reserves
Called up share capital	250	100
Share premium account	848,106	-
Profit and loss account	(241,436)	(95,676)
	606,920	(95,576)

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THE PADEL HUB RH17 LTD

REGISTERED NUMBER: 15253417

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 financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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 8 form part of these financial statements.

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THE PADEL HUB RH17 LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 31 DECEMBER 2024

1.	General information

Padel Hub RH17 Limited is a private company limited by shares, incorporated in the United Kingdom and registered in England and Wales (registered number: 15253417). 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 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 following principal accounting policies have been applied:

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.

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THE PADEL HUB RH17 LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

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

Borrowing costs

All borrowing costs are recognised in profit or loss in the Period in which they are incurred.

2.5

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.

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%	Reducing Balance
Fixtures and fittings	-	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.

2.6

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.

2.7

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.

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THE PADEL HUB RH17 LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

2.8

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.

Employees

The average monthly number of employees, including directors, during the Period was 8 (2024 - 1).

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		THE PADEL HUB RH17 LTD

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	Fixtures and fittings	Office equipment	Computer equipment	Total
	£	£	£	£	£	£	£
Cost or valuation
At 1 June 2024	207,024	267,868	899	14,885	2,473	8,987	502,136
Additions	20,446	26,751	1,600	115	4,124	1,648	54,684
Disposals	-	(47,648)	-	-	-	(2,135)	(49,783)
At 31 December 2024	227,470	246,971	2,499	15,000	6,597	8,500	507,037
Depreciation
At 1 June 2024	20,702	6,041	128	1,895	167	984	29,917
Charge for the Period on owned assets	12,077	13,791	421	2,188	757	1,104	30,338
Disposals	-	-	-	-	-	(76)	(76)
At 31 December 2024	32,779	19,832	549	4,083	924	2,012	60,179
Net book value
At 31 December 2024	194,691	227,139	1,950	10,917	5,673	6,488	446,858

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THE PADEL HUB RH17 LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 31 DECEMBER 2024

Debtors

					31 December	31 May
					2024	2024
					£	£


Trade debtors	2,435	1,119
Amounts owed by group undertakings	18,202	100
Other debtors	278,846	274,994
Prepayments and accrued income	95,679	123,886
	395,162	400,099

Included within other debtors 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.

Cash at bank and in hand	28,476	7,513
	28,476	7,513

Trade creditors	151,023	221,398
Amounts owed to group undertakings	97,173	28,802
Other taxation and social security	2,640	2,885
Accruals and deferred income	12,738	17,556
	263,574	270,641

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THE PADEL HUB RH17 LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 31 DECEMBER 2024

Other loans	-	704,763
	-	704,763



Amounts falling due 2-5 years
Other loans	-	704,764
	-	704,764

	-	704,764

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