REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Period 1 October 2021 to 31 March 2023 |
for |
Padnell Limited |
REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Period 1 October 2021 to 31 March 2023 |
for |
Padnell Limited |
Padnell Limited (Registered number: 03429576) |
Contents of the Financial Statements |
for the Period 1 October 2021 to 31 March 2023 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
Padnell Limited |
Company Information |
for the Period 1 October 2021 to 31 March 2023 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Accountants |
Oak Tree House, Harwood Road |
Northminster Business Park |
Upper Poppleton |
York |
YO26 6QU |
Padnell Limited (Registered number: 03429576) |
Balance Sheet |
31 March 2023 |
2023 | 2021 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
Investments | 5 |
Investment property | 6 |
CURRENT ASSETS |
Debtors | 7 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 8 |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
PROVISIONS FOR LIABILITIES | 9 |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital | 10 |
Fair value reserve |
Retained earnings |
SHAREHOLDERS' FUNDS |
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. |
Padnell Limited (Registered number: 03429576) |
Balance Sheet - continued |
31 March 2023 |
In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered. |
The financial statements were approved by the Board of Directors and authorised for issue on |
Padnell Limited (Registered number: 03429576) |
Notes to the Financial Statements |
for the Period 1 October 2021 to 31 March 2023 |
1. | STATUTORY INFORMATION |
Padnell Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
There were no material departures from that standard. |
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts. |
The company ceased trading on 21 November 2023 when the assets and liabilities were purchased by J & J Nellis Properties Ltd. |
Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
Income recognition |
Rental income is recognised in accordance with the contractual terms of the lease. |
Related party exemption |
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group. |
Tangible fixed assets |
Computer equipment | - |
Investments in subsidiaries |
Investments in subsidiary undertakings are recognised at cost. |
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. |
Taxation |
Taxation for the period comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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. |
Padnell Limited (Registered number: 03429576) |
Notes to the Financial Statements - continued |
for the Period 1 October 2021 to 31 March 2023 |
2. | ACCOUNTING POLICIES - continued |
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 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. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the period was NIL (2021 - NIL). |
4. | TANGIBLE FIXED ASSETS |
Computer |
equipment |
£ |
COST |
At 1 October 2021 |
Disposals | ( |
) |
At 31 March 2023 |
DEPRECIATION |
At 1 October 2021 |
Charge for period |
Eliminated on disposal | ( |
) |
At 31 March 2023 |
NET BOOK VALUE |
At 31 March 2023 |
At 30 September 2021 |
5. | FIXED ASSET INVESTMENTS |
Shares in |
group |
undertakings |
£ |
COST |
At 1 October 2021 |
and 31 March 2023 |
NET BOOK VALUE |
At 31 March 2023 |
At 30 September 2021 |
Padnell Limited (Registered number: 03429576) |
Notes to the Financial Statements - continued |
for the Period 1 October 2021 to 31 March 2023 |
6. | INVESTMENT PROPERTY |
Total |
£ |
FAIR VALUE |
At 1 October 2021 |
and 31 March 2023 |
NET BOOK VALUE |
At 31 March 2023 |
At 30 September 2021 |
Fair value at 31 March 2023 is represented by: |
£ |
Valuation in 2020 | 235,494 |
7. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2021 |
£ | £ |
Amounts owed by group undertakings |
Other debtors |
VAT |
8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2021 |
£ | £ |
Trade creditors |
Taxation and social security |
Directors' current accounts | 192,393 | 191,540 |
Accruals and deferred income |
9. | PROVISIONS FOR LIABILITIES |
2023 | 2021 |
£ | £ |
Deferred tax | - | 39 |
Deferred |
tax |
£ |
Balance at 1 October 2021 |
Provided during period | ( |
) |
Balance at 31 March 2023 |
Padnell Limited (Registered number: 03429576) |
Notes to the Financial Statements - continued |
for the Period 1 October 2021 to 31 March 2023 |
10. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2023 | 2021 |
value: | £ | £ |
Ordinary 'A' Shares | 1 | 2 | 2 |
11. | RELATED PARTY DISCLOSURES |
2023 | 2021 |
£ | £ |
Amount due to the directors | 192,393 | 191,540 |
No interest is charged on the directors loan accounts. |
12. | POST BALANCE SHEET EVENTS |
On 21 November 2023 the assets and liabilities of the company were purchased by J & J Nellis Properties Ltd. |
13. | ULTIMATE CONTROLLING PARTY |
The ultimate parent company is J & J Nellis Properties Ltd, a private company, limited by shares, registered in England and Wales. The company's registered office is Hazeldene, Skewsby, York, North Yorkshire, YO61 4SQ. |