P A B Mortgages Ltd - Accounts to registrar (filleted)

REGISTERED NUMBER: 08932552 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE PERIOD 1 APRIL 2025 TO 30 APRIL 2026

FOR

P A B MORTGAGES LTD

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

DIRECTORS:

Mr P A Barnes

Mrs S Barnes

REGISTERED OFFICE:

4 Grovelands

Boundary Way

Hemel Hempstead

Hertfordshire

HP2 7TE

REGISTERED NUMBER:

08932552 (England and Wales)

ACCOUNTANTS:

Kings Chartered Accountants

4 Grovelands

Boundary Way

Hemel Hempstead

Hertfordshire

HP2 7TE

FIXED ASSETS

Intangible assets

4

17,538

-

Tangible assets

5

36,379

23,489

53,917

23,489

CURRENT ASSETS

Debtors

6

9,080

100,375

Cash at bank and in hand

113,227

35,385

122,307

135,760

CREDITORS

Amounts falling due within one year

7

38,279

34,265

NET CURRENT ASSETS

84,028

101,495

TOTAL ASSETS LESS CURRENT
LIABILITIES

137,945

124,984

CREDITORS

Amounts falling due after more than one
year

8

(27,982

)

(15,350

)

PROVISIONS FOR LIABILITIES

10

(8,357

)

(1,602

)

NET ASSETS

101,606

108,032

CAPITAL AND RESERVES

Called up share capital

11

100

Retained earnings

101,506

107,932

SHAREHOLDERS' FUNDS

101,606

108,032

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 30 April 2026.

The members have not required the company to obtain an audit of its financial statements for the period ended 30 April 2026 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 7 September 2026 and were signed on its behalf by:

Mr P A Barnes - Director

1.	STATUTORY INFORMATION

P A B Mortgages Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Changes in accounting policies

The current period's financial statements represents a 13 month period to 30 April 2026.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes derived from ordinary activities. Turnover 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 service.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2025, is being amortised evenly over its estimated useful life of five years.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Fixtures and fittings

-

33% on cost

Motor vehicles

-

12.5% on reducing balance

Computer equipment

-

25% on reducing balance

Financial instruments

The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including creditors, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Taxation

Taxation for the period comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

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

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the period was 2 (2025 - 1 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

Additions

20,000

At 30 April 2026

20,000

AMORTISATION

Amortisation for period

2,462

At 30 April 2026

2,462

NET BOOK VALUE

At 30 April 2026

17,538

5.	TANGIBLE FIXED ASSETS

Fixtures

and

Motor

Computer

fittings

vehicles

equipment

Totals

£

COST

At 1 April 2025

6,722

30,135

2,675

39,532

Additions

-

36,424

1,494

37,918

Disposals

-

(30,135

)

-

(30,135

)

At 30 April 2026

6,722

36,424

4,169

47,315

DEPRECIATION

At 1 April 2025

6,159

7,784

2,100

16,043

Charge for period

428

3,759

352

4,539

Eliminated on disposal

-

(9,646

)

-

(9,646

)

At 30 April 2026

6,587

1,897

2,452

10,936

NET BOOK VALUE

At 30 April 2026

135

34,527

1,717

36,379

At 31 March 2025

563

22,351

575

23,489

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Motor

vehicles

£

COST

At 1 April 2025

30,135

Additions

36,424

Disposals

(30,135

)

At 30 April 2026

36,424

DEPRECIATION

At 1 April 2025

7,784

Charge for period

3,759

Eliminated on disposal

(9,646

)

At 30 April 2026

1,897

NET BOOK VALUE

At 30 April 2026

34,527

At 31 March 2025

22,351

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.4.26

31.3.25

£

Amounts owed by participating interests

8,585

83,891

Directors' current accounts

-

15,788

Prepayments and accrued income

495

696

9,080

100,375

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.4.26

31.3.25

£

Hire purchase contracts (see note 9)

4,696

3,381

Trade creditors

108

-

Taxation

31,743

29,265

Social security and other taxes

124

479

Directors' current accounts

468

-

Accruals

1,140

38,279

34,265

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR

30.4.26

31.3.25

£

Hire purchase contracts (see note 9)

27,982

15,350

9.	LEASING AGREEMENTS

Minimum lease payments under hire purchase fall due as follows:

30.4.26

31.3.25

£

Net obligations repayable:

Within one year

4,696

3,381

Between one and five years

27,982

15,350

32,678

18,731

10.	PROVISIONS FOR LIABILITIES

30.4.26

31.3.25

£

Deferred tax

Accelerated capital allowances

8,357

1,602

Deferred

tax

£

Balance at 1 April 2025

1,602

Provided during period

6,755

Balance at 30 April 2026

8,357

11.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

30.4.26

31.3.25

value:

£

100

Ordinary

£1

100

12.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the period ended 30 April 2026 and the year ended 31 March 2025:

30.4.26

31.3.25

£

Mr P A Barnes and Mrs S Barnes

Balance outstanding at start of period

15,788

-

Amounts advanced

-

15,788

Amounts repaid

(15,788

)

-

Amounts written off

-

Amounts waived

-

Balance outstanding at end of period

-

15,788