REGISTERED NUMBER: 11214979 (England and Wales)

POSH PADS PROPERTY LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2026

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

F D G Barnes

A V S Freeland

REGISTERED OFFICE:

51 Bedford Place

Southampton

Hampshire

SO15 2DT

REGISTERED NUMBER:

11214979 (England and Wales)

FIXED ASSETS

Tangible assets

4

11,140

12,422

Investment property

5

50,861,613

49,586,500

50,872,753

49,598,922

CURRENT ASSETS

Debtors

6

36,744

95,147

Cash at bank and in hand

95,908

3,482

132,652

98,629

CREDITORS

Amounts falling due within one year

7

(935,643

)

(1,141,459

)

NET CURRENT LIABILITIES

(802,991

)

(1,042,830

)

TOTAL ASSETS LESS CURRENT LIABILITIES

50,069,762

48,556,092

CREDITORS

Amounts falling due after more than one year

8

(34,593,860

)

(32,847,343

)

PROVISIONS FOR LIABILITIES

10

(2,015,072

)

(2,015,179

)

NET ASSETS

13,460,830

13,693,570

CAPITAL AND RESERVES

Called up share capital

11

200

200

Share premium

6,110,418

8,110,418

Non-distributable reserve

6,072,761

6,072,761

Retained earnings

1,277,451

(489,809

)

13,460,830

13,693,570

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 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 9 October 2026 and were signed on its behalf by:

F D G Barnes - Director

1.	STATUTORY INFORMATION

Posh Pads Property 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 FRS 102 "The Financial Reporting Standards applicable in the UK and Republic of Ireland" ("FRS 102") and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies' regime.

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 financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £1.

The financial statements have been prepared under the historical cost convention, modified to include certain financial instruments at fair value. The principal accounting policies adopted are set out below.

Turnover

Turnover is stated net of value added tax and represents sales of services and gross rents receivable.

Tangible fixed assets

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

Plant and machinery

-

Straight line over 4 years

Fixtures and fittings

-

Straight line over 4 years

Motor vehicles

-

Straight line over 4 years

Office equipment

-

Straight line over 4 years

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset and is recognised in the income statement.

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss. Deferred tax is provided against these movements.

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 recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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 year 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.

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.

Financial assets

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 assets are recognised in the company's statement of financial position when the company becomes party to the contractual provisions of the instrument.

Basic financial assets, which include trade and other receivables and 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 financial transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Financial liabilities

Basic financial liabilities, which include trade and other payables, are initially measured at transaction price and subsequently measured at amortised cost, unless the arrangement constitutes a financing transaction where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest.

Equity instruments

Equity instruments issued by the company are recorded at the fair value of the proceeds received net of direct issue costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 11 (2025 - 13 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

Motor

Office

machinery

fittings

vehicles

equipment

Totals

£

£

£

£

£

COST

At 1 April 2025

27,997

14,657

68,070

32,904

143,628

Additions

-

-

4,835

-

4,835

At 31 March 2026

27,997

14,657

72,905

32,904

148,463

DEPRECIATION

At 1 April 2025

24,066

14,558

60,034

32,548

131,206

Charge for year

103

99

5,559

356

6,117

At 31 March 2026

24,169

14,657

65,593

32,904

137,323

NET BOOK VALUE

At 31 March 2026

3,828

-

7,312

-

11,140

At 31 March 2025

3,931

99

8,036

356

12,422

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 April 2025

49,586,500

Additions

1,275,113

At 31 March 2026

50,861,613

NET BOOK VALUE

At 31 March 2026

50,861,613

At 31 March 2025

49,586,500

Investment property was valued on an open market basis on 31 March 2026 by the directors, based on their extensive experience in the accommodation area and their local property knowledge.

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2026

2025

as restated

£

£

Amounts owed by group undertakings

-

82,448

Other debtors

36,744

12,699

36,744

95,147

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2026

2025

as restated

£

£

Bank loans and overdrafts

49,993

58,837

Trade creditors

112,885

104,890

Amounts owed to group undertakings

572,970

768,098

Taxation and social security

28,756

25,646

Other creditors

171,039

183,988

935,643

1,141,459

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2026

2025

as restated

£

£

Bank loans

34,593,860

32,847,343

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

34,475,676

32,733,950

9.	SECURED DEBTS

The following secured debts are included within creditors:

2026

2025

as restated

£

£

Bank loans

34,618,920

32,870,244

The bank loans are secured by means of legal charges over the properties owned by the company.

10.	PROVISIONS FOR LIABILITIES

Deferred tax on timing differences

Deferred Tax on Investment Properties

Total

£

£

£

Balance at 1 April 2025

(9,075

)

2,024,254

2,015,179

Provided during the year

(107

)

-

(107

)

Balance at 31 March 2026

(9,182

)

2,024,254

2,015,072

Deferred tax on investment property arises on the movement in fair value gains.

11.	CALLED UP SHARE CAPITAL

On 30 March 2026 the company reduced its share premium account by £2,000,000 and credited such amount to the profit and loss reserve.

12.	ULTIMATE CONTROLLING PARTY

The ultimate parent undertaking is Posh Pads Group Holdings Limited.

The registered office of Posh Pads Group Holdings Limited is:

51 Bedford Place

Southampton

Hampshire

United Kingdom

SO15 2DT

13.	PRIOR YEAR ADJUSTMENTS

Comparative figures have been restated to correct the following prior year adjustments.

Investment properties

It was identified that properties previously classified as freehold land and buildings met the definition of investment property under FRS 102 and should therefore have been presented within investment properties.Freehold land and buildings had been recognised at fair value and was overstated by £625,000. The comparative fair value has been restated, resulting in a reduction of £625,000 in fair value and non-distributable reserve.

Deferred tax

Deferred tax had not been recognised on the cumulative fair value gains arising on these investment properties. The comparative figures have therefore been restated to reclassify the relevant properties as investment properties and to recognise a deferred tax liability of £2,024,254 in respect of cumulative unrealised fair value gains.

The reclassification of the properties had no impact on profit before tax for the year. The recognition of the deferred tax liability reduced retained earnings and net assets by £2,024,254.

Borrowings

A review of the classification and disclosure of borrowings identified a number of presentation errors in the prior year financial statements.

An amount of £5,429 relating to a Bounce Back Loan Scheme loan had been classified as falling due after more than one year and has been reclassified to amounts falling due within one year.

In addition, bank loans and overdrafts of £493,679 had been incorrectly included within amounts falling due within one year and have been reclassified to amounts falling due after more than one year. A further £350,287 of bank loans repayable by instalments falling due after more than five years had been omitted from the relevant maturity analysis disclosure.

These adjustments relate solely to the presentation and disclosure of borrowings and had no impact on profit, net assets or shareholders' funds.