PADOQ Limited - Accounts to registrar (filleted) - small 18.2

PADOQ Limited - Accounts to registrar (filleted) - small 18.2

PADOQ LIMITED - Company Information

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REGISTERED NUMBER: 08599320 (England and Wales)













UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2019

FOR

PADOQ LIMITED
PADOQ LIMITED (REGISTERED NUMBER: 08599320)






CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 31 July 2019




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


PADOQ LIMITED

COMPANY INFORMATION
for the Year Ended 31 July 2019







DIRECTORS: Mr Michael Stephen Anderson
Mr Malcolm Evans
Mr Christopher John Airey
Mr Paul Anthony Addy





REGISTERED OFFICE: Spring Court
Spring Road
Hale
Altrincham
Cheshire
WA14 2UQ





REGISTERED NUMBER: 08599320 (England and Wales)





ACCOUNTANTS: Hanleys
Chartered Accountants
Spring Court
Spring Road
Hale
Altrincham
Cheshire
WA14 2UQ
Page 1
PADOQ LIMITED (REGISTERED NUMBER: 08599320)

BALANCE SHEET
31 July 2019

31.7.19 31.7.18
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 6,787 2,891

CURRENT ASSETS
Debtors 5 55,562 52,139
Cash at bank and in hand 284,878 307,465
340,440 359,604
CREDITORS
Amounts falling due within one year 6 51,463 269,885
NET CURRENT ASSETS 288,977 89,719
TOTAL ASSETS LESS CURRENT
LIABILITIES
295,764
92,610

PROVISIONS FOR LIABILITIES 1,290 578
NET ASSETS 294,474 92,032

CAPITAL AND RESERVES
Called up share capital 1,717 1,717
Share premium 1,212,862 404,533
Retained earnings (920,105 ) (314,218 )
SHAREHOLDERS' FUNDS 7 294,474 92,032

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2019 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 notes form part of these financial statements

Page 2
PADOQ LIMITED (REGISTERED NUMBER: 08599320)

BALANCE SHEET - continued
31 July 2019


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 on 11 February 2020 and were signed on its behalf
by:





Mr Michael Stephen Anderson - Director


The notes form part of these financial statements

Page 3
PADOQ LIMITED (REGISTERED NUMBER: 08599320)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 31 July 2019

1. STATUTORY INFORMATION

PADOQ 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.

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

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 25% on reducing balance
Computer equipment - 25% on cost

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.

Research and development
Expenditure on research and development is written off in the year in which it is incurred.


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.

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.

Page 4
PADOQ LIMITED (REGISTERED NUMBER: 08599320)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 July 2019

2. ACCOUNTING POLICIES - continued

Going concern
The directors believe that the company's financial statements should be prepared on a going concern basis on the
grounds that current and future sources of funding or support will be more than adequate for the company's
needs. The directors have considered a period of twelve months from the date of approval of the financial
statements and believe that no further disclosures relating to the company's ability to continue as a going concern
need to be made in the financial statements.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 7 (2018 - 5 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
At 1 August 2018 980 3,393 4,373
Additions - 6,228 6,228
At 31 July 2019 980 9,621 10,601
DEPRECIATION
At 1 August 2018 - 1,482 1,482
Charge for year 245 2,087 2,332
At 31 July 2019 245 3,569 3,814
NET BOOK VALUE
At 31 July 2019 735 6,052 6,787
At 31 July 2018 980 1,911 2,891

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.19 31.7.18
£    £   
Amounts owed by related companies 41,096 42,255
Other debtors 14,466 9,884
55,562 52,139

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.19 31.7.18
£    £   
Trade creditors 157 -
Taxation and social security 10,923 2,644
Other creditors 40,383 267,241
51,463 269,885

Page 5
PADOQ LIMITED (REGISTERED NUMBER: 08599320)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 July 2019

7. RECONCILIATION OF MOVEMENTS IN SHAREHOLDERS' FUNDS
31.7.19 31.7.18
£    £   
Loss for the financial year (605,887 ) (178,531 )
New share capital subscribed 808,329 270,563
Net addition to shareholders' funds 202,442 92,032
Opening shareholders' funds 92,032 -
Closing shareholders' funds 294,474 92,032

Page 6