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REGISTERED NUMBER: 00757818 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 March 2023

for

Palgro Property Company Limited

Palgro Property Company Limited (Registered number: 00757818)

Contents of the Financial Statements

for the Year Ended 31 March 2023

Page |

Company Information | 1 |

Balance Sheet | 2 |

Notes to the Financial Statements | 3 |

Palgro Property Company Limited

Company Information

for the Year Ended 31 March 2023

| DIRECTORS: | Mr L G Frankum

| Mrs D L King

| Mrs L T Mckay

| Mrs N Frankum

| SECRETARY: | Mrs N Frankum

| REGISTERED OFFICE: | 6 Wendell Road

| Shepherds Bush

| London

| W12 9RT

| REGISTERED NUMBER: | 00757818 (England and Wales)

| ACCOUNTANTS: | Freeman Carr

| Chartered Certified Accountants

| The Gatehouse

| 2 Devonhurst Place

| Heathfield Terrace

| Chiswick

| London

| W4 4JD

Palgro Property Company Limited (Registered number: 00757818)

Balance Sheet

31 March 2023

| 31.3.23 | 31.3.22 |

| Notes | £ | £ | £ | £ |

FIXED ASSETS

Investment property | 4 | 2,510,000 |  | 2,500,000 |  |

CURRENT ASSETS

Debtors | 5 | 24,129 |  | - |  |

Cash at bank | 13,358 |  | 43,447 |  |

37,487 |  | 43,447 |  |

CREDITORS

Amounts falling due within one year | 6 | 48,663 |  | 81,726 |  |

NET CURRENT LIABILITIES | (11,176 | ) | (38,279 | ) |

TOTAL ASSETS LESS CURRENT LIABILITIES | 2,498,824 |  | 2,461,721 |  |

CREDITORS

Amounts falling due after more than one year | 7 | (1,233,729 | ) | (1,210,000 | ) |

PROVISIONS FOR LIABILITIES | (72,000 | ) | (72,000 | ) |

NET ASSETS | 1,193,095 |  | 1,179,721 |  |

CAPITAL AND RESERVES

Called up share capital | 100 |  | 100 |  |

Retained earnings | 1,192,995 |  | 1,179,621 |  |

1,193,095 |  | 1,179,721 |  |

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 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 3 October 2023 and were signed on its behalf by:

Mr L G Frankum - Director

Palgro Property Company Limited (Registered number: 00757818)

Notes to the Financial Statements

for the Year Ended 31 March 2023

1. | STATUTORY INFORMATION

| Palgro Property Company 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.

| 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.

| Financial instruments

| The company only enters into basic financial transactions that result in the recognition of financial assets and liabilities like cash and bank balances, trade and other debtors and creditors, loans from banks and other third parties and investments in non-puttable ordinary shares.

| Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment. If objective evidence of impairment is found, an impairment loss is recognised in profit and loss.

| Financial assets and liabilities are offset and the net amount reported in the Balance Sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

| 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 4 (2022 - 2 ) .

Palgro Property Company Limited (Registered number: 00757818)

Notes to the Financial Statements - continued

for the Year Ended 31 March 2023

4. | INVESTMENT PROPERTY

| Total

£ |

| FAIR VALUE

| At 1 April 2022 | 2,500,000 |  |

| Additions | 10,000 |  |

| At 31 March 2023 | 2,510,000 |  |

| NET BOOK VALUE

| At 31 March 2023 | 2,510,000 |  |

| At 31 March 2022 | 2,500,000 |  |

5. | DEBTORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |

| 31.3.23 |  | 31.3.22

£ | £ |

| Other debtors | 24,129 |  | - |  |

6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |

| 31.3.23 |  | 31.3.22

£ | £ |

| Taxation and social security | 6,890 |  | 8,787 |  |

| Other creditors | 41,773 |  | 72,939 |  |

48,663 |  | 81,726 |  |

7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |

| 31.3.23 |  | 31.3.22

£ | £ |

| Bank loans | 1,233,729 |  | 1,210,000 |  |