Paddon Properties Limited - Accounts to registrar (filleted) - small 23.1.2

REGISTERED NUMBER: 09871605 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 NOVEMBER 2022

FOR

PADDON PROPERTIES LIMITED

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

Mr JR Paddon

REGISTERED OFFICE:

Hartfield Place

40 - 44 High Street

Northwood

Middlesex

HA6 1BN

REGISTERED NUMBER:

09871605 (England and Wales)

ACCOUNTANTS:

Robert Clow & Co

Chartered Accountants

Hartfield Place

40 - 44 High Street

Northwood

Middlesex

HA6 1BN

FIXED ASSETS

Investment property

4

250,000

198,842

CURRENT ASSETS

Debtors

250

250

Cash at bank

1,460

365

1,710

615

CREDITORS

Amounts falling due within one year

6,320

171,689

NET CURRENT LIABILITIES

(4,610

)

(171,074

)

TOTAL ASSETS LESS CURRENT LIABILITIES

245,390

27,768

CREDITORS

Amounts falling due after more than one year

5

(168,995

)

-

PROVISIONS FOR LIABILITIES

(9,720

)

-

NET ASSETS

66,675

27,768

CAPITAL AND RESERVES

Called up share capital

2

2

Revaluation reserve

6

41,438

-

Retained earnings

25,235

27,766

SHAREHOLDERS' FUNDS

66,675

27,768

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 2022 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 30 November 2022 in accordance with Section 444(2A) of the Companies Act 2006.

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

The financial statements were approved by the director and authorised for issue on 3 February 2023 and were signed by:

Mr JR Paddon - Director

1.	STATUTORY INFORMATION

Paddon Properties 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 as modified by the revaluation of certain assets.

Turnover

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

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 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.

Hire purchase and leasing commitments

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

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2021 - NIL).

4.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 December 2021

198,842

Revaluations

51,158

At 30 November 2022

250,000

NET BOOK VALUE

At 30 November 2022

250,000

At 30 November 2021

198,842

Fair value at 30 November 2022 is represented by:

£

Valuation in 2022

51,158

Cost

198,842

250,000

If the investment property had not been revalued it would have been included at the following historical cost:

30.11.22

30.11.21

£

£

Cost

198,842

-

the investment property was valued on at open market basis on by the director. .

5.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN FIVE YEARS

30.11.22

30.11.21

£

£

Repayable otherwise than by instalments

Other loans more 5yrs non-inst

168,995

-

6.

RESERVES

Revaluation

reserve

£

Property revaluation

51,158

Deferred Taxation

(9,720

)

At 30 November 2022

41,438

7.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

Included in creditors is £3,965 owed to the director.

8.	RELATED PARTY DISCLOSURES

During the year dividends of £4,000 were paid to the director and related parties.

9.	ULTIMATE CONTROLLING PARTY

The controlling party is Mr JR Paddon.