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Company Registration No. 11537518 (England and Wales)
Paal Group Limited Unaudited accounts for the year ended 31 July 2023
Paal Group Limited Unaudited accounts Contents
Page
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Paal Group Limited Company Information for the year ended 31 July 2023
Directors
Vikramjeet Singh Landa Jagatjeet Singh Landa Pritpal Singh Landa
Company Number
11537518 (England and Wales)
Registered Office
The Clocktower Park Road Bestwood Village Nottingham NG6 8TQ England
Accountants
Net Accountancy Solutions Limited 35 Gripps Common Cotgrave Nottingham Nottinghamshire NG12 3TF
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Paal Group Limited Statement of financial position as at 31 July 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Tangible assets
- 
36 
Investment property
445,474 
- 
445,474 
36 
Current assets
Debtors
10,000 
- 
Cash at bank and in hand
46 
42 
10,046 
42 
Creditors: amounts falling due within one year
(471,554)
(13,023)
Net current liabilities
(461,508)
(12,981)
Net liabilities
(16,034)
(12,945)
Capital and reserves
Called up share capital
100 
100 
Profit and loss account
(16,134)
(13,045)
Shareholders' funds
(16,034)
(12,945)
For the year ending 31 July 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 18 April 2024 and were signed on its behalf by
Pritpal Singh Landa Director Company Registration No. 11537518
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Paal Group Limited Notes to the Accounts for the year ended 31 July 2023
1
Statutory information
Paal Group Limited is a private company, limited by shares, registered in England and Wales, registration number 11537518. The registered office is The Clocktower Park Road, Bestwood Village, Nottingham, NG6 8TQ, England.
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 remained unchanged from the previous year, and also 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:
Computer equipment
25% 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.
Going concern
The accounts have been prepared on a going concern basis on the understanding that the directors will continue to support the company financially for the foreseeable future.
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Paal Group Limited Notes to the Accounts for the year ended 31 July 2023
4
Tangible fixed assets
Computer equipment 
£ 
Cost or valuation
At cost 
At 1 August 2022
1,257 
At 31 July 2023
1,257 
Depreciation
At 1 August 2022
1,221 
Charge for the year
36 
At 31 July 2023
1,257 
Net book value
At 31 July 2023
- 
At 31 July 2022
36 
5
Investment property
2023 
£ 
Additions
445,474 
At 31 July 2023
445,474 
6
Debtors
2023 
2022 
£ 
£ 
Amounts falling due within one year
Other debtors
10,000 
- 
7
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
Trade creditors
1,507 
79 
Taxes and social security
994 
- 
Other creditors
7,190 
7,210 
Loans from directors
461,863 
5,734 
471,554 
13,023 
8
Transactions with related parties
During the year the directors loaned the company £461,863. The loan is interest free and repayable on demand and shown under creditors: amounts falling due within one year. A £1,000 loan to the company from Premeum International Limited, a company under common control, was written off in this period and is included in sundries. Premeum International Limited has ceased trading and is in the process of being struck off.
9
Average number of employees
During the year the average number of employees was 0 (2022: 0).
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