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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
Padelaid Limited is a limited liability company incorporated in England and Wales. The registered office is Harwood House, 43 Harwood Road, London, SW6 4QP.
The presentational currency is the Pound Sterling (£).
The principal activities of the company is that of investing in the sports and entertainment sector.
2.Accounting policies
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Basis of preparation of financial statements
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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 requirements 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:
During the year the Company was dormant, leaving the balance sheet deficit unchanged of £25,858. Within this is a balance of £24,412 (see note 5) owed to the majority investor who has agreed to continue to provide such financial support as it's required whilst the Company strengthens its own financial position.
In Light of the above, the director is confident that the Company will continue in operational existence for the foreseeable future and that the going concern basis is therefore appropriate for the preparation of the Company's accounts.
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:
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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