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Registered Number: 13153838
England and Wales

 

 

 

THE PARK LANE REAL ESTATE INVESTMENTS LIMITED


Abridged Accounts
 


Period of accounts

Start date: 01 February 2022

End date: 31 January 2023
 
 
Notes
 
2023
£
  2022
£
Fixed assets      
Tangible fixed assets 3 523,243   
523,243   
Current assets      
Debtors 43,834   
Cash at bank and in hand 1,735    121,557 
45,569    121,557 
Creditors: amount falling due within one year (253,294)   (125,750)
Net current liabilities (207,725)   (4,193)
 
Total assets less current liabilities 315,518    (4,193)
Creditors: amount falling due after more than one year (348,095)  
Net liabilities (32,577)   (4,193)
 

Capital and reserves
     
Called up share capital 100    100 
Profit and loss account (32,677)   (4,293)
Shareholder's funds (32,577)   (4,193)
 


For the year ended 31 January 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of Part 15 of the Companies Act 2006. In accordance with Section 444 of the Companies Act 2006, the income statement has not been delivered to the Registrar of Companies.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with section 444(2A).
The financial statements were approved by the board of directors on 31 October 2023 and were signed on its behalf by:


-------------------------------
Edward James Joseph
Director
1
General Information
THE PARK LANE REAL ESTATE INVESTMENTS LIMITED is a private company, limited by shares, registered in England and Wales, registration number 13153838, registration address 3rd Floor Broadway Chambers, 1 Cranbrook Road, Ilford, Esssex, IG1 4DU.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 102 – The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the company.
Going concern basis
The directors believe that the company has recently been incorporated and would incur initial cost. They have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus they continue to adopt the going concern basis of accounting in preparing the financial statements.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted
Deferred taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date.
Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the reporting date 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.
Current and deferred tax assets and liabilities are not discounted.
Investment properties
Investment properties are properties held to earn rentals and/or for capital appreciation.
Investment properties should be recognised initially at cost and subsequently investment properties are measured at fair value. Gains and losses arising from changes in the fair value of investment properties are included in profit or loss in the period in which they arise.
2.

Average number of employees

Average number of employees during the year was 0 (2022 : 0).
3.

Tangible fixed assets

Cost or valuation Land and Buildings   Total
  £   £
At 01 February 2022  
Additions 523,243    523,243 
Disposals  
At 31 January 2023 523,243    523,243 
Depreciation
At 01 February 2022  
Charge for year  
On disposals  
At 31 January 2023  
Net book values
Closing balance as at 31 January 2023 523,243    523,243 
Opening balance as at 01 February 2022  

The net book value of Land and Buildings includes £ 523,243 in respect of assets leased under finance leases or hire purchase contracts.

2