22 July 2022 false No description of principal activity Taxfiler 2023.15 NI689857business:PrivateLimitedCompanyLtd2022-07-222023-12-31 NI6898572022-07-21 NI6898572022-07-222023-12-31 NI689857business:AuditExemptWithAccountantsReport2022-07-222023-12-31 NI689857business:FilletedAccounts2022-07-222023-12-31 NI6898572023-12-31 NI689857core:WithinOneYear2023-12-31 NI689857core:AfterOneYear2023-12-31 NI689857core:ShareCapitalcore:PreviouslyStatedAmount2023-12-31 NI689857core:RetainedEarningsAccumulatedLossescore:PreviouslyStatedAmount2023-12-31 NI689857core:PreviouslyStatedAmount2023-12-31 NI689857business:SmallEntities2022-07-222023-12-31 NI689857business:Director12022-07-222023-12-31 NI689857countries:NorthernIreland2022-07-222023-12-31 NI689857business:RegisteredOffice2022-07-222023-12-31 NI689857core:PlantMachinery2022-07-222023-12-31 NI689857core:PlantMachinery2022-07-21 NI689857core:PlantMachinery2023-12-31 iso4217:GBP xbrli:pure
Company Registration No. NI689857 (Northern Ireland)
Pastel Properties Ltd Unaudited accounts for the period from 22 July 2022 to 31 December 2023
Pastel Properties Ltd Unaudited accounts Contents
Page
- 2 -
Pastel Properties Ltd Statement of financial position as at 31 December 2023
2023 
Notes
£ 
Fixed assets
Tangible assets
594 
Investment property
240,000 
240,594 
Current assets
Debtors
747 
Cash at bank and in hand
2,153 
2,900 
Creditors: amounts falling due within one year
(1,200)
Net current assets
1,700 
Total assets less current liabilities
242,294 
Creditors: amounts falling due after more than one year
(220,049)
Provisions for liabilities
Deferred tax
(5,444)
Net assets
16,801 
Capital and reserves
Called up share capital
100 
Profit and loss account
16,701 
Shareholders' funds
16,801 
For the period ending 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts 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 FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 20 March 2024 and were signed on its behalf by
Naffesa Mohammed Director Company Registration No. NI689857
- 3 -
Pastel Properties Ltd Notes to the Accounts for the period from 22 July 2022 to 31 December 2023
1
Statutory information
Pastel Properties Ltd is a private company, limited by shares, registered in Northern Ireland, registration number NI689857. The registered office is 50 Agra Street, Belfast, BT7 3AH.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
20% Straight Line
Investment property
Investment property is included at market fair value. Gains are recognised in the income statement. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.
Turnover
Turnover represents amounts receivable in respect of rent.
- 4 -
Pastel Properties Ltd Notes to the Accounts for the period from 22 July 2022 to 31 December 2023
4
Tangible fixed assets
Plant & machinery 
£ 
Cost or valuation
At cost 
At 22 July 2022
- 
Additions
744 
At 31 December 2023
744 
Depreciation
Charge for the period
150 
At 31 December 2023
150 
Net book value
At 31 December 2023
594 
5
Investment property
2023 
£ 
Additions
211,345 
Net gain from fair value adjustments
28,655 
At 31 December 2023
240,000 
The fair value of the investment properties have been arrived at on the basis of a valuation carried out by the directors. The valuations were made on an open market value basis by reference to market evidence of transaction prices for similar properties.
6
Debtors
2023 
£ 
Amounts falling due within one year
Amounts due from group undertakings etc.
747 
7
Creditors: amounts falling due within one year
2023 
£ 
Accruals
1,200 
8
Creditors: amounts falling due after more than one year
2023 
£ 
Bank loans
147,658 
Other creditors
72,391 
220,049 
9
Average number of employees
During the period the average number of employees was 2.
- 5 -