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REGISTERED NUMBER: 05707692 (England and Wales)















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: M R Williams
A N Latif





SECRETARIES: Mrs E J Williams
Mrs R Qadeer





REGISTERED OFFICE: Suite 1
Aireside House
Royd Ings Avenue
Keighley
West Yorkshire
BD21 4BZ





REGISTERED NUMBER: 05707692 (England and Wales)





ACCOUNTANTS: Brosnans
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 4 402 622

CURRENT ASSETS
Stocks 3,740 192,000
Debtors 5 2,839,388 2,638,080
Cash at bank 65,504 332,366
2,908,632 3,162,446
CREDITORS
Amounts falling due within one year 6 (288,718 ) (621,423 )
NET CURRENT ASSETS 2,619,914 2,541,023
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,620,316

2,541,645

PROVISIONS FOR LIABILITIES - (118 )
NET ASSETS 2,620,316 2,541,527

CAPITAL AND RESERVES
Called up share capital 7 2 2
Retained earnings 2,620,314 2,541,525
SHAREHOLDERS' FUNDS 2,620,316 2,541,527

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

The members have not required the company to obtain an audit of its financial statements for the period ended 31 August 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.

PALL MALL DEVELOPMENTS LIMITED (REGISTERED NUMBER: 05707692)

BALANCE SHEET - continued
31 AUGUST 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 20 November 2023 and were signed on its behalf by:




M R Williams - Director



A N Latif - Director


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 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.

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
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.

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 2 (2022 - 2 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£
COST
At 1 March 2022
and 31 August 2023 14,345
DEPRECIATION
At 1 March 2022 13,723
Charge for period 220
At 31 August 2023 13,943
NET BOOK VALUE
At 31 August 2023 402
At 28 February 2022 622

5. DEBTORS
2023 2022
£ £
Amounts falling due within one year:
Trade debtors - 120,468
Other debtors 2,172,339 1,770,073
2,172,339 1,890,541

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 667,049 747,539

Aggregate amounts 2,839,388 2,638,080

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£ £
Trade creditors 1,222 357,859
Taxation and social security 194,900 228,376
Other creditors 92,596 35,188
288,718 621,423

7. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £ £
2 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
£ £
M R Williams
Balance outstanding at start of period 872,210 772,976
Amounts advanced 212,475 99,234
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of period 1,084,685 872,210

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

A N Latif
Balance outstanding at start of period 872,210 620,803
Amounts advanced 225,445 251,407
Amounts repaid (10,000 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of period 1,087,655 872,210

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.