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REGISTERED NUMBER: 02000203 (England and Wales)










UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 MARCH 2023

FOR

PALLADIO ESTATES LIMITED

PALLADIO ESTATES LIMITED (REGISTERED NUMBER: 02000203)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 MARCH 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


PALLADIO ESTATES LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 MARCH 2023







DIRECTORS: D E Johns
D M Johns





SECRETARY: D M Johns





REGISTERED OFFICE: Ground Floor
Egerton House
68 Baker Street
Weybridge
Surrey
KT13 8AL





REGISTERED NUMBER: 02000203 (England and Wales)





ACCOUNTANTS: RJP LLP
Ground Floor
Egerton House
68 Baker Street
Weybridge
Surrey
KT13 8AL

PALLADIO ESTATES LIMITED (REGISTERED NUMBER: 02000203)

BALANCE SHEET
30 MARCH 2023

30.3.23 30.3.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 540,080 549,119
Investments 5 2,689,048 3,334,048
Investment property 6 7,260,820 7,260,820
10,489,948 11,143,987

CURRENT ASSETS
Debtors 7 678,877 12,138
Cash at bank 176,854 55,432
855,731 67,570
CREDITORS
Amounts falling due within one year 8 61,993 46,156
NET CURRENT ASSETS 793,738 21,414
TOTAL ASSETS LESS CURRENT
LIABILITIES

11,283,686

11,165,401

CREDITORS
Amounts falling due after more than one
year

9

(2,500,000

)

(2,500,000

)

PROVISIONS FOR LIABILITIES 11 (655,007 ) (656,724 )
NET ASSETS 8,128,679 8,008,677

CAPITAL AND RESERVES
Called up share capital 12 175 175
Share premium 262,425 262,425
Retained earnings 7,866,079 7,746,077
SHAREHOLDERS' FUNDS 8,128,679 8,008,677

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 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.

PALLADIO ESTATES LIMITED (REGISTERED NUMBER: 02000203)

BALANCE SHEET - continued
30 MARCH 2023


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 November 2023 and were signed on its behalf by:





D E Johns - Director


PALLADIO ESTATES LIMITED (REGISTERED NUMBER: 02000203)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 MARCH 2023


1. STATUTORY INFORMATION

Palladio Estates 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.

Related party exemption
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.

Turnover
Turnover represents gross rents and consultancy fees receivable. Rental income is recognised in the period that the property was let out. Consultancy services are recognised in the period that services are provided.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Land and buildings - No provision for depreciation
Plant and machinery etc - 25% on reducing balance

The buildings element of freehold property is not depreciated. This is a departure from the Companies Act 2006 which requires buildings to be depreciated over their useful economic lives. The directors consider that depreciation is not appropriate and the accounting policy adopted is necessary for the accounts to show a true and fair view.

Investments in associates
Investments in associate undertakings are recognised at cost.

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.

In accordance with FRS 102; Investment property is property (land or building, or part of a building, or both) held by the owner or by the lessee under a finance lease to earn rentals or for capital appreciation or both. An entity shall measure investment property at its initial recognition. The cost of a purchased investment property comprises its purchase price and any directly attributable expenditure such as legal and brokerage fees, property transfer taxes and other transaction costs. Investment property whose fair value can be measured reliably without undue cost or effort shall be measured at fair value at each reporting date with changes in fair value recognised in profit or loss.

The directors consider that the value included in the accounts is a fair valuation of the property's market value at the balance sheet date.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2022 - NIL).

PALLADIO ESTATES LIMITED (REGISTERED NUMBER: 02000203)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 MARCH 2023


4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 31 March 2022 449,532 106,339 555,871
Additions - 53,080 53,080
Disposals - (47,153 ) (47,153 )
At 30 March 2023 449,532 112,266 561,798
DEPRECIATION
At 31 March 2022 - 6,752 6,752
Charge for year - 14,966 14,966
At 30 March 2023 - 21,718 21,718
NET BOOK VALUE
At 30 March 2023 449,532 90,548 540,080
At 30 March 2022 449,532 99,587 549,119

5. FIXED ASSET INVESTMENTS

30.3.23 30.3.22
£    £   
Participating interests 89,048 89,048
Other investments 2,600,000 3,245,000
2,689,048 3,334,048

Additional information is as follows:
Interest
in
associate
undertakings
£   
COST
At 31 March 2022
and 30 March 2023 89,048
NET BOOK VALUE
At 30 March 2023 89,048
At 30 March 2022 89,048

Investments (neither listed nor unlisted) were as follows:
30.3.23 30.3.22
£    £   
Other investments 2,600,000 3,245,000

PALLADIO ESTATES LIMITED (REGISTERED NUMBER: 02000203)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 MARCH 2023


6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 31 March 2022
and 30 March 2023 7,260,820
NET BOOK VALUE
At 30 March 2023 7,260,820
At 30 March 2022 7,260,820

Fair value at 30 March 2023 is represented by:
£   
Valuation in 2023 5,410,961
Cost 1,849,859
7,260,820

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

30.3.23 30.3.22
£    £   
Cost 1,849,859 1,849,859

Investment property was valued on an open market basis on 30 March 2023 by the directors .

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.3.23 30.3.22
£    £   
Other debtors 678,877 12,138

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.3.23 30.3.22
£    £   
Taxation and social security 12,386 -
Other creditors 49,607 46,156
61,993 46,156

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
30.3.23 30.3.22
£    £   
Bank loans 2,500,000 2,500,000

10. SECURED DEBTS

The following secured debts are included within creditors:

30.3.23 30.3.22
£    £   
Bank loans 2,500,000 2,500,000

The Bank loan has been secured by holding legal charges over the company's investment properties.

PALLADIO ESTATES LIMITED (REGISTERED NUMBER: 02000203)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 MARCH 2023


11. PROVISIONS FOR LIABILITIES
30.3.23 30.3.22
£    £   
Deferred tax 655,007 656,724

Deferred
tax
£   
Balance at 31 March 2022 656,724
Provided during year (1,717 )
Balance at 30 March 2023 655,007

12. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 30.3.23 30.3.22
value: £    £   
175 Ordinary £1 175 175

13. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 30 March 2023 and 30 March 2022:

30.3.23 30.3.22
£    £   
Director
Balance outstanding at start of year (4,348 ) (6,448 )
Amounts advanced - 6,000
Amounts repaid (4,150 ) (3,900 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (8,498 ) (4,348 )

Director
Balance outstanding at start of year (6,487 ) (5,029 )
Amounts advanced 376,959 720
Amounts repaid - (2,178 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 370,472 (6,487 )

Interest was charged on the overdrawn loan account at the rate of 2.0% per annum.

14. PARENT COMPANY

The immediate and ultimate parent company is Trenvale Limited, a company registered in England and Wales.

These accounts present information about the company as an individual undertaking. Group accounts are not prepared because the group qualifies as a small group.