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Company Registration No. 11537559 (England and Wales)
Paal Properties Limited Unaudited accounts for the year ended 31 July 2023
Paal Properties Limited Unaudited accounts Contents
Page
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Paal Properties Limited Company Information for the year ended 31 July 2023
Directors
Jagatjeet Singh Landa Vikramjeet Singh Landa
Company Number
11537559 (England and Wales)
Registered Office
Unit 1 The Clocktower Park Road, Bestwood Village Nottingham Nottinghamshire NG6 8TQ England
Accountants
Net Accountancy Solutions Limited 35 Gripps Common Cotgrave Nottingham Nottinghamshire NG12 3TF
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Paal Properties Limited Statement of financial position as at 31 July 2023
2023 
2022 
Notes
£ 
£ 
Current assets
Debtors
12,645 
25,686 
Cash at bank and in hand
13,762 
37,458 
26,407 
63,144 
Creditors: amounts falling due within one year
(37,688)
(62,023)
Net current (liabilities)/assets
(11,281)
1,121 
Net (liabilities)/assets
(11,281)
1,121 
Capital and reserves
Called up share capital
100 
100 
Profit and loss account
(11,381)
1,021 
Shareholders' funds
(11,281)
1,121 
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
Jagatjeet Singh Landa Director Company Registration No. 11537559
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Paal Properties Limited Notes to the Accounts for the year ended 31 July 2023
1
Statutory information
Paal Properties Limited is a private company, limited by shares, registered in England and Wales, registration number 11537559. The registered office is Unit 1, The Clocktower, Park Road, Bestwood Village, Nottingham, Nottinghamshire, 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.
Turnover
Turnover represents the fees received for the management of rental properties.
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.
4
Debtors
2023 
2022 
£ 
£ 
Amounts falling due within one year
Trade debtors
4,203 
2,884 
Accrued income and prepayments
984 
- 
Other debtors
7,458 
22,802 
12,645 
25,686 
5
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
Trade creditors
5,259 
4,641 
Taxes and social security
375 
- 
Other creditors
5,785 
5,888 
Loans from directors
26,269 
51,134 
Accruals
- 
360 
37,688 
62,023 
6
Transactions with related parties
Included in sundry expenses is an amount of £14,000 owed to the company by Premeum International Limited, a company under common control. This company is in the process of being struck off so the loan is irrecoverable and has been written off.
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Paal Properties Limited Notes to the Accounts for the year ended 31 July 2023
7
Average number of employees
During the year the average number of employees was 0 (2022: 0).
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