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REGISTERED NUMBER: 11183287 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 28 FEBRUARY 2023

FOR

PL ALBATROSS LTD

PL ALBATROSS LTD (REGISTERED NUMBER: 11183287)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


PL ALBATROSS LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 28 FEBRUARY 2023







DIRECTOR: J Patel





REGISTERED OFFICE: 9 Churchill Court
58 Station Road
North Harrow
HA2 7SA





REGISTERED NUMBER: 11183287 (England and Wales)





ACCOUNTANTS: Chapmans
Chartered Accountants
9 Churchill Court
58 Station Road
North Harrow
HA2 7SA

PL ALBATROSS LTD (REGISTERED NUMBER: 11183287)

BALANCE SHEET
28 FEBRUARY 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Investment property 4 750,000 750,000

CURRENT ASSETS
Debtors 5 127,885 121,080
Cash at bank 3,489 5,995
131,374 127,075
CREDITORS
Amounts falling due within one year 6 81,260 79,820
NET CURRENT ASSETS 50,114 47,255
TOTAL ASSETS LESS CURRENT
LIABILITIES

800,114

797,255

CREDITORS
Amounts falling due after more than one year 7 (501,396 ) (501,396 )

PROVISIONS FOR LIABILITIES (69,479 ) (69,479 )
NET ASSETS 229,239 226,380

CAPITAL AND RESERVES
Called up share capital 8 100 100
Non distributable reserves 9 296,202 296,202
Retained earnings 9 (67,063 ) (69,922 )
SHAREHOLDERS' FUNDS 229,239 226,380

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 2023 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.

PL ALBATROSS LTD (REGISTERED NUMBER: 11183287)

BALANCE SHEET - continued
28 FEBRUARY 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 director and authorised for issue on 16 November 2023 and were signed by:





J Patel - Director


PL ALBATROSS LTD (REGISTERED NUMBER: 11183287)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023


1. STATUTORY INFORMATION

PL Albatross Ltd 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 represents rental income excluding vat.

Investment property
Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure . Subsequently it is measured at fair value a t the reporting end date. Changes in fair value are recognised in profit or loss.

Where fair value cannot be achieved without undue cost or effort, investment property is accounted for as tangible fixed assets.

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.

3. EMPLOYEES AND DIRECTORS

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

PL ALBATROSS LTD (REGISTERED NUMBER: 11183287)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 28 FEBRUARY 2023


4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 March 2022
and 28 February 2023 750,000
NET BOOK VALUE
At 28 February 2023 750,000
At 28 February 2022 750,000

The valuation was made on an open market value basis by reference to market evidence of transaction prices for similar properties.

Fair value at 28 February 2023 is represented by:
£   
Valuation in 2023 750,000

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Other debtors 127,885 121,080

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Other creditors 81,260 79,820

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans 501,396 501,396

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
100 Ordinary 1 100 100

PL ALBATROSS LTD (REGISTERED NUMBER: 11183287)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 28 FEBRUARY 2023


9. RESERVES
Non
Retained distributable
earnings reserves Totals
£    £    £   

At 1 March 2022 (69,922 ) 296,202 226,280
Profit for the year 2,859 2,859
At 28 February 2023 (67,063 ) 296,202 229,139

10. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 28 February 2023 and 28 February 2022:

2023 2022
£    £   
J Patel
Balance outstanding at start of year 3,440 4,015
Amounts repaid (775 ) (575 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 2,665 3,440