REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE PERIOD 1 MARCH 2022 TO 31 AUGUST 2023 |
FOR |
PALL MALL DEVELOPMENTS LIMITED |
REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE PERIOD 1 MARCH 2022 TO 31 AUGUST 2023 |
FOR |
PALL MALL DEVELOPMENTS LIMITED |
PALL MALL DEVELOPMENTS LIMITED (REGISTERED NUMBER: 05707692) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE PERIOD 1 MARCH 2022 TO 31 AUGUST 2023 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
PALL MALL DEVELOPMENTS LIMITED |
COMPANY INFORMATION |
FOR THE PERIOD 1 MARCH 2022 TO 31 AUGUST 2023 |
DIRECTORS: |
SECRETARIES: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Accountants |
Suite 1, Aireside House |
Royd Ings Avenue |
Keighley |
West Yorkshire |
BD21 4BZ |
PALL MALL DEVELOPMENTS LIMITED (REGISTERED NUMBER: 05707692) |
BALANCE SHEET |
31 AUGUST 2023 |
2023 | 2022 |
Notes | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
CURRENT ASSETS |
Stocks |
Debtors | 5 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 6 | ( |
) | ( |
) |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
PROVISIONS FOR LIABILITIES | ( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital | 7 |
Retained earnings |
SHAREHOLDERS' FUNDS |
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. |
PALL MALL DEVELOPMENTS LIMITED (REGISTERED NUMBER: 05707692) |
BALANCE SHEET - continued |
31 AUGUST 2023 |
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 |
PALL MALL DEVELOPMENTS LIMITED (REGISTERED NUMBER: 05707692) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE PERIOD 1 MARCH 2022 TO 31 AUGUST 2023 |
1. | STATUTORY INFORMATION |
Pall Mall Developments Limited is a |
The presentation currency of the financial statements is the Pound Sterling (£). |
The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated. |
2. | ACCOUNTING POLICIES |
BASIS OF PREPARING THE FINANCIAL STATEMENTS |
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. |
Plant and machinery etc - 20% on cost |
Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended. |
STOCKS |
Work in progress is valued at the lower of cost and net realisable value. |
Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition. |
TAXATION |
Taxation for the period 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. |
PALL MALL DEVELOPMENTS LIMITED (REGISTERED NUMBER: 05707692) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE PERIOD 1 MARCH 2022 TO 31 AUGUST 2023 |
2. | ACCOUNTING POLICIES - continued |
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 period 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 period was |
4. | TANGIBLE FIXED ASSETS |
Plant and |
machinery |
etc |
£ |
COST |
At 1 March 2022 |
and 31 August 2023 |
DEPRECIATION |
At 1 March 2022 |
Charge for period |
At 31 August 2023 |
NET BOOK VALUE |
At 31 August 2023 |
At 28 February 2022 |
5. | DEBTORS |
2023 | 2022 |
£ | £ |
Amounts falling due within one year: |
Trade debtors |
Other debtors |
PALL MALL DEVELOPMENTS LIMITED (REGISTERED NUMBER: 05707692) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE PERIOD 1 MARCH 2022 TO 31 AUGUST 2023 |
5. | DEBTORS - continued |
2023 | 2022 |
£ | £ |
Amounts falling due after more than one year: |
Other debtors |
Aggregate amounts |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Trade creditors |
Taxation and social security |
Other creditors |
7. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2023 | 2022 |
value: | £ | £ |
Ordinary | £1 | 2 | 2 |
8. | OTHER FINANCIAL COMMITMENTS |
The company has guaranteed the bank borrowing of an associated company, Rare Gem Ltd. |
At 31 August 2023 this amounted to £1,255,374 ( 2022 £224,913). |
9. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
The following advances and credits to directors subsisted during the period ended 31 August 2023 and the year ended 28 February 2022: |
2023 | 2022 |
£ | £ |
Balance outstanding at start of period |
Amounts advanced |
Amounts repaid |
Amounts written off | - | - |
Amounts waived | - | - |
Balance outstanding at end of period |
PALL MALL DEVELOPMENTS LIMITED (REGISTERED NUMBER: 05707692) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE PERIOD 1 MARCH 2022 TO 31 AUGUST 2023 |
9. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES - continued |
Balance outstanding at start of period |
Amounts advanced |
Amounts repaid | ( |
) |
Amounts written off | - | - |
Amounts waived | - | - |
Balance outstanding at end of period |
10. | RELATED PARTY DISCLOSURES |
MRW Consultants Limited |
During the period the company paid £183,328 (2022 £158,113) for services from MRW Consultants Limited, in which M R Williams is a director and shareholder. |
IQ Portraits Ltd |
During the year the company paid £60,000 (2022: £Nil) for services from IQ Portraits Ltd, in which A N Latif is a director and shareholder. |