REGISTERED NUMBER: 12749325 (England and Wales)

Unaudited Financial Statements for the Year Ended 31st July 2026

for

Padel Centres Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

Mr D Cornwell

Mrs K K Cornwell

REGISTERED OFFICE:

Rock House

Mynyddbach

Chepstow

Glamorgan

NP16 6RP

REGISTERED NUMBER:

12749325 (England and Wales)

ACCOUNTANTS:

Dunkley's

Woodlands Grange

Woodlands Lane

Bradley Stoke

Bristol

United Kingdom

BS32 4JY

FIXED ASSETS

Tangible assets

4

144,536

196,579

CURRENT ASSETS

Debtors

5

29,439

15,154

Cash at bank

79,314

50,396

108,753

65,550

CREDITORS

Amounts falling due within one year

6

362,741

354,164

NET CURRENT LIABILITIES

(253,988

)

(288,614

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(109,452

)

(92,035

)

PROVISIONS FOR LIABILITIES

1,939

2,567

NET LIABILITIES

(111,391

)

(94,602

)

CAPITAL AND RESERVES

Called up share capital

9

1

1

Retained earnings

10

(111,392

)

(94,603

)

SHAREHOLDERS' FUNDS

(111,391

)

(94,602

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st July 2026.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st July 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 30th September 2026 and were signed on its behalf by:

Mr D Cornwell - Director

1.	STATUTORY INFORMATION

Padel Centres Limited 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.

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.

The financial statements are presented in Pounds Sterling (£), which is the Company's functional and presentation currency.

Critical accounting judgements and key sources of estimation uncertainty

In the application of the Company's accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amounts of assets and liabilities that are not readily apparent from other sources.

The estimates and associated assumptions are based on historical experience and other factors considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of revision and future periods if the revision affects both current and future periods.

The following are the critical judgements and key sources of estimation uncertainty that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year:

Impairment of trade debtors - The Company makes an estimate of the recoverable value of trade and other debtors. When assessing impairment, management considers factors including the ageing profile of debtors and historical experience.

Useful economic lives of tangible fixed assets - The annual depreciation charge depends on the estimated useful lives of assets. The directors review these estimates regularly based on the current condition of the assets and expected future use.

Turnover

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

Turnover represents amounts receivable for services provided during the year. Revenue is recognised as the service is performed, based on the stage of completion or when the service has been completed, depending on the nature of the engagement.

All turnover is derived from customers based in the United Kingdom.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Improvements to property

-

5% on cost and Straight line over 6 - 7 years

Plant and machinery

-

20% on reducing balance

Fixtures and fittings

-

20% on reducing balance

Computer equipment

-

33.33% on cost

Improvements to property - 3G Pitch - Straight line over the life of the lease 7 years

Improvements to property - Padel Centre - Straight line over the life of the lease 20 years

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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 balance sheet date.

Deferred tax

Deferred tax is provided in full on timing differences which result in an obligation at the balance sheet date to pay more tax, or a right to pay less tax, at a future date. The deferred tax balance comprises: accelerated capital allowances £1,939. The net deferred tax liability is £1,939 (2025: £2,567).

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.

Going concern

The Company has net liabilities at the balance sheet date. The directors have assessed the Company's ability to continue as a going concern and have concluded that it remains appropriate to prepare the financial statements on that basis. This assessment is based on the continued financial support of the directors and fellow group undertakings, who have indicated their intention to provide such support for the foreseeable future. Accordingly, the directors are satisfied that the Company has adequate resources to continue in operational existence for at least 12 months from the date of approval of these financial statements.

Financial instruments

The Company has elected to apply the provisions of Section 11 'Basic Financial Instruments'.

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

Basic financial assets: Short-term debtors are measured at transaction price, less any impairment. Loans receivable are initially measured at transaction price (including transaction costs) and subsequently measured at amortised cost using the effective interest method, less any impairment.

Basic financial liabilities: Short-term creditors are measured at transaction price. Other financial liabilities, including bank loans and other loans, are initially measured at transaction price (including transaction costs) and subsequently measured at amortised cost using the effective interest method.

3.	EMPLOYEES AND DIRECTORS

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

4.	TANGIBLE FIXED ASSETS

Improvements

Fixtures

to

Plant and

and

Computer

property

machinery

fittings

equipment

Totals

£

£

£

£

£

COST

At 1st August 2025

365,405

4,563

16,959

6,108

393,035

Additions

-

1,916

249

888

3,053

Disposals

-

(750

)

(8,308

)

-

(9,058

)

At 31st July 2026

365,405

5,729

8,900

6,996

387,030

DEPRECIATION

At 1st August 2025

182,335

713

7,930

5,478

196,456

Charge for year

48,737

866

1,814

616

52,033

Eliminated on disposal

-

(504

)

(5,491

)

-

(5,995

)

At 31st July 2026

231,072

1,075

4,253

6,094

242,494

NET BOOK VALUE

At 31st July 2026

134,333

4,654

4,647

902

144,536

At 31st July 2025

183,070

3,850

9,029

630

196,579

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.7.26

31.7.25

£

£

Trade debtors

26,358

13,476

Amounts owed by group undertakings

1

1

Other debtors

-

931

Tax

367

465

Prepayments

2,713

281

29,439

15,154

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.7.26

31.7.25

£

£

Trade creditors

-

52

Amounts owed to group undertakings

340,000

340,000

Tax

1,625

11

VAT

10,276

7,422

Directors' current accounts

5,046

4,734

Accruals and deferred income

3,744

-

Accrued expenses

2,050

1,945

362,741

354,164

7.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

31.7.26

31.7.25

£

£

Within one year

8,000

8,000

Between one and five years

32,000

32,000

In more than five years

10,667

18,667

50,667

58,667

8.	SECURED DEBTS

The Company had no secured liabilities at the balance sheet date.

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.7.26

31.7.25

value:

£

£

1

Ordinary

£1

1

1

10.

RESERVES

Retained

earnings

£

At 1st August 2025

(94,603

)

Deficit for the year

(16,789

)

At 31st July 2026

(111,392

)

11.	CONTINGENT LIABILITIES

The Company had no contingent liabilities at the balance sheet date.

12.	RELATED PARTY DISCLOSURES

At the balance sheet date, the company owed £5,046 (2025: £4,734) to a director. The balance is unsecured, interest-free and repayable on demand.

At the balance sheet date, the company was owed £1 (2025: £1) from Beaten Metal Ltd. This company is a fellow group undertaking. The balance is unsecured, interest-free and repayable on demand.

At the balance sheet date, the company owed £340,000 (2025: £340,000) to Mynyddbach Developments Ltd. This company is a fellow group undertaking. The balance is unsecured, interest-free and repayable on demand.

13.	POST BALANCE SHEET EVENTS

There have been no material events after the balance sheet date requiring disclosure in these financial statements.

14.	ULTIMATE CONTROLLING PARTY

The company's immediate parent undertaking is Beaten Metal Ltd, a company incorporated in England.

The company's ultimate controlling party is David Cornwell and Kha Koon Cornwell.

15.	CASH & CASH EQUIVALENTS

Cash comprises cash in hand and demand deposits. Cash equivalents are short-term, highly liquid investments that are readily convertible to known amounts of cash and are subject to an insignificant risk of changes in value.

Cash and cash equivalents consist solely of balances held in the Company's bank current account. The Company does not hold any short-term investments and does not operate an overdraft facility.