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Unaudited Financial Statements for the Year Ended 31 December 2018 |
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Loanpad Limited |
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REGISTERED NUMBER:
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Unaudited Financial Statements for the Year Ended 31 December 2018 |
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for |
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Loanpad Limited |
Loanpad Limited (Registered number: 09479658) |
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Contents of the Financial Statements |
for the Year Ended 31 December 2018 |
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Page |
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Company Information | 1 |
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Statement of Financial Position | 2 |
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Notes to the Financial Statements | 3 |
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Loanpad Limited |
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Company Information |
for the Year Ended 31 December 2018 |
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DIRECTOR: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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Chartered Accountants |
5 Technology Park |
Colindeep Lane |
Colindale |
London |
NW9 6BX |
Loanpad Limited (Registered number: 09479658) |
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Statement of Financial Position |
31 December 2018 |
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2018 | 2017 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
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CURRENT ASSETS |
Debtors | 5 |
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Cash at bank |
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CREDITORS |
Amounts falling due within one year | 6 |
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NET CURRENT ASSETS/(LIABILITIES) |
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( |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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( |
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CAPITAL AND RESERVES |
Called up share capital | 7 |
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Retained earnings | ( |
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SHAREHOLDERS' FUNDS |
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The director acknowledges his responsibilities for: |
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ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies
Act 2006 and |
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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. |
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In accordance with Section 444 of the Companies Act 2006, the Statement of Comprehensive Income has not been delivered. |
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The financial statements were approved by the director on
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Loanpad Limited (Registered number: 09479658) |
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Notes to the Financial Statements |
for the Year Ended 31 December 2018 |
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1. | STATUTORY INFORMATION |
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Loanpad Limited is a
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registered number and registered office address can be found on the Company Information page. |
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The presentation currency of the financial statements is the Pound Sterling (£). |
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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On 5 February 2018, Loanpad Limited achieved authorisation from the Financial Conduct Authority (FCA) to |
operate an electronic system in relation to lending. To date, Loanpad Limited has been privately funded. |
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Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, |
value added tax and other sales taxes. |
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Tangible fixed assets |
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Computer equipment | - |
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Financial instruments |
Debtors |
Short term debtors are measured at transaction price, less any impairment. |
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Creditors |
Short term creditors are measured at transaction price. |
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Taxation |
Taxation for the year comprises current and deferred tax. Taxation is recognised in the Income Statement, except |
to the extent that it relates to items recognised in other comprehensive income, or directly in equity. |
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Current taxation is recognised as the amount of tax payable, using the tax rates and laws that that have been |
enacted or substantively enacted by the Statement of Financial Position date. |
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Deferred tax |
Deferred tax balances are recognised in respect of all timing differences that have originated, but not reversed by |
the Statement of Financial Position date, except that: |
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- The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered |
against the reversal of deferred tax liabilities or other future taxable profits; and |
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- Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have |
been met. |
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Deferred tax is determined using tax rates and laws that have been enacted, or substantively enacted by the |
Statement of Financial Position date. |
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Research and development |
Expenditure on research and development is written off in the year in which it is incurred. |
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Loanpad Limited (Registered number: 09479658) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 December 2018 |
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3. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was
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4. | TANGIBLE FIXED ASSETS |
Computer |
equipment |
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COST |
Additions |
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At 31 December 2018 |
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DEPRECIATION |
Charge for year |
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At 31 December 2018 |
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NET BOOK VALUE |
At 31 December 2018 |
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5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2018 | 2017 |
£ | £ |
Amounts owed by group undertakings |
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Other debtors |
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Taxation recoverable | 46,844 | 10,163 |
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6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2018 | 2017 |
£ | £ |
Other loans |
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Trade creditors |
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Amounts owed to group undertakings |
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Other creditors |
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Director's current account | 396 | 28,432 |
Accruals |
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7. | CALLED UP SHARE CAPITAL |
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Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2018 | 2017 |
value: | £ | £ |
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Ordinary | £1 | 721,864 | 100 |
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Loanpad Limited (Registered number: 09479658) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 December 2018 |
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8. | RELATED PARTY DISCLOSURES |
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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. |
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9. | ULTIMATE PARENT COMPANY |
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The ultimate parent company is Loanpad Holdings Limited, a non-trading company incorporated in England & |
Wales. |