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Company Registration No. 02689738 (England and Wales)
Poloplace Limited Unaudited accounts for the year ended 31 May 2023
Poloplace Limited Unaudited accounts Contents
Page
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Poloplace Limited Company Information for the year ended 31 May 2023
Directors
D S Goraya N S Sheera A Goraya
Secretary
N K Goraya
Company Number
02689738 (England and Wales)
Registered Office
157 Friern Barnet Lane Whetstone London N20 0NN
Accountants
Charterwells Suite 8, 2nd Floor 43-45 High Road Bushey Heath WD23 1EE
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Poloplace Limited Statement of financial position as at 31 May 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Tangible assets
93 
116 
Investment property
15,003,505 
15,153,505 
Investments
12,743 
12,743 
15,016,341 
15,166,364 
Current assets
Debtors
920,831 
805,022 
Cash at bank and in hand
44,195 
217,663 
965,026 
1,022,685 
Creditors: amounts falling due within one year
(907,754)
(691,723)
Net current assets
57,272 
330,962 
Total assets less current liabilities
15,073,613 
15,497,326 
Creditors: amounts falling due after more than one year
(3,271,369)
(3,997,336)
Provisions for liabilities
Deferred tax
(1,101,517)
(1,101,517)
Net assets
10,700,727 
10,398,473 
Capital and reserves
Called up share capital
265,000 
265,000 
Profit and loss account
10,435,727 
10,133,473 
Shareholders' funds
10,700,727 
10,398,473 
For the year ending 31 May 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 23 December 2023 and were signed on its behalf by
N S Sheera Director Company Registration No. 02689738
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Poloplace Limited Notes to the Accounts for the year ended 31 May 2023
1
Statutory information
Poloplace Limited is a private company, limited by shares, registered in England and Wales, registration number 02689738. The registered office is 157 Friern Barnet Lane, Whetstone, London, N20 0NN.
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.
Turnover
Turnover is measured on the basis of the consideration received for the sale of properties.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Fixtures & fittings
20% on written down value.
Investments
Investments in shares are included at fair value.
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.
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Poloplace Limited Notes to the Accounts for the year ended 31 May 2023
4
Tangible fixed assets
Fixtures & fittings 
£ 
Cost or valuation
At cost 
At 1 June 2022
50,610 
At 31 May 2023
50,610 
Depreciation
At 1 June 2022
50,494 
Charge for the year
23 
At 31 May 2023
50,517 
Net book value
At 31 May 2023
93 
At 31 May 2022
116 
5
Investment property
2023 
£ 
Fair value at 1 June 2022
15,153,505 
Disposals
(150,000)
At 31 May 2023
15,003,505 
Valuation completed by the directors based on their research and experience.
6
Investments
Other investments 
£ 
Valuation at 1 June 2022
12,743 
Valuation at 31 May 2023
12,743 
7
Debtors
2023 
2022 
£ 
£ 
Amounts falling due within one year
Accrued income and prepayments
18,305 
14,815 
Other debtors
902,526 
790,207 
920,831 
805,022 
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Poloplace Limited Notes to the Accounts for the year ended 31 May 2023
8
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
Bank loans and overdrafts
272,534 
70,159 
Taxes and social security
75,582 
61,926 
Other creditors
547,849 
547,849 
Accruals
8,789 
8,789 
Deferred income
3,000 
3,000 
907,754 
691,723 
Bank loans are secured by charges against various company properties.
9
Creditors: amounts falling due after more than one year
2023 
2022 
£ 
£ 
Bank loans
2,200,000 
3,322,838 
Other creditors
397,728 
- 
Loans from directors
673,641 
674,498 
3,271,369 
3,997,336 
Bank loans are secured by charges against various company properties.
10
Share capital
2023 
2022 
£ 
£ 
Allotted, called up and fully paid:
265,000 Ordinary shares of £1 each
265,000 
265,000 
11
Average number of employees
During the year the average number of employees was 2 (2022: 2).
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