Silverfin false false 31/12/2023 01/01/2023 31/12/2023 J P Gould 12/12/2014 J E Prescot 02/06/2023 A C Prescot 05/04/2019 R J Prescot 05/04/2019 26 September 2024 no description of principal activity 09353902 2023-12-31 09353902 bus:Director1 2023-12-31 09353902 bus:Director2 2023-12-31 09353902 bus:Director3 2023-12-31 09353902 bus:Director4 2023-12-31 09353902 2022-12-31 09353902 core:CurrentFinancialInstruments 2023-12-31 09353902 core:CurrentFinancialInstruments 2022-12-31 09353902 core:ShareCapital 2023-12-31 09353902 core:ShareCapital 2022-12-31 09353902 core:RetainedEarningsAccumulatedLosses 2023-12-31 09353902 core:RetainedEarningsAccumulatedLosses 2022-12-31 09353902 core:OtherPropertyPlantEquipment 2022-12-31 09353902 core:OtherPropertyPlantEquipment 2023-12-31 09353902 core:CostValuation 2022-12-31 09353902 core:AdditionsToInvestments 2023-12-31 09353902 core:DisposalsRepaymentsInvestments 2023-12-31 09353902 core:RevaluationsIncreaseDecreaseInInvestments 2023-12-31 09353902 core:FurtherSpecificIncreaseDecreaseInInvestments2ComponentTotalChangeInInvestments 2023-12-31 09353902 core:CostValuation 2023-12-31 09353902 2023-01-01 2023-12-31 09353902 bus:FilletedAccounts 2023-01-01 2023-12-31 09353902 bus:SmallEntities 2023-01-01 2023-12-31 09353902 bus:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 09353902 bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 09353902 bus:Director1 2023-01-01 2023-12-31 09353902 bus:Director2 2023-01-01 2023-12-31 09353902 bus:Director3 2023-01-01 2023-12-31 09353902 bus:Director4 2023-01-01 2023-12-31 09353902 core:OtherPropertyPlantEquipment core:TopRangeValue 2023-01-01 2023-12-31 09353902 2022-01-01 2022-12-31 iso4217:GBP xbrli:pure

Company No: 09353902 (England and Wales)

PALLINGHAM LTD

Unaudited Financial Statements
For the financial year ended 31 December 2023
Pages for filing with the registrar

PALLINGHAM LTD

Unaudited Financial Statements

For the financial year ended 31 December 2023

Contents

PALLINGHAM LTD

COMPANY INFORMATION

For the financial year ended 31 December 2023
PALLINGHAM LTD

COMPANY INFORMATION (continued)

For the financial year ended 31 December 2023
DIRECTORS J P Gould
J E Prescot (Appointed 02 June 2023)
A C Prescot
R J Prescot
REGISTERED OFFICE 22 Chancery Lane
London
WC2A 1LS
England
United Kingdom
COMPANY NUMBER 09353902 (England and Wales)
PALLINGHAM LTD

BALANCE SHEET

As at 31 December 2023
PALLINGHAM LTD

BALANCE SHEET (continued)

As at 31 December 2023
Note 2023 2022
£ £
Fixed assets
Investments 4 3,215,141 2,790,251
3,215,141 2,790,251
Current assets
Debtors 5 0 6,000
Cash at bank and in hand 352,480 50,010
352,480 56,010
Creditors: amounts falling due within one year 6 ( 452,267) ( 386,596)
Net current liabilities (99,787) (330,586)
Total assets less current liabilities 3,115,354 2,459,665
Net assets 3,115,354 2,459,665
Capital and reserves
Called-up share capital 2 2
Profit and loss account 3,115,352 2,459,663
Total shareholders' funds 3,115,354 2,459,665

For the financial year ending 31 December 2023 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of Pallingham Ltd (registered number: 09353902) were approved and authorised for issue by the Board of Directors on 26 September 2024. They were signed on its behalf by:

J P Gould
Director
PALLINGHAM LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 2023
PALLINGHAM LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 2023
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Pallingham Ltd (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is 22 Chancery Lane, London, WC2A 1LS, England, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The financial statements have been prepared on a going concern basis. The company is being supported financially by the directors and shareholders.

Foreign currency

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Taxation

Current tax
The current tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Tangible fixed assets

Tangible assets are stated at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Plant and machinery etc. 4 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Fixed asset investments

Investments are held at fair value, with any unrealised gains or losses being recognised as profit or loss in the current period. Investments are treated as non-current assets on the basis that they are intended to be held for at least 12 months after the balance sheet date. The investments are valued at year end by Caceis Investor Services.

Ordinary share capital

The ordinary share capital of the Company is presented as equity.

2. Employees

2023 2022
Number Number
Monthly average number of persons employed by the Company during the year, including directors 4 3

3. Tangible assets

Plant and machinery etc. Total
£ £
Cost
At 01 January 2023 2,122 2,122
At 31 December 2023 2,122 2,122
Accumulated depreciation
At 01 January 2023 2,122 2,122
At 31 December 2023 2,122 2,122
Net book value
At 31 December 2023 0 0
At 31 December 2022 0 0

4. Fixed asset investments

Other investments Total
£ £
Cost or valuation before impairment
At 01 January 2023 2,790,251 2,790,251
Additions 45,348 45,348
Disposals ( 34,980) ( 34,980)
Movement in fair value 474,141 474,141
Foreign exchange movement ( 59,619) ( 59,619)
At 31 December 2023 3,215,141 3,215,141
Carrying value at 31 December 2023 3,215,141 3,215,141
Carrying value at 31 December 2022 2,790,251 2,790,251

5. Debtors

2023 2022
£ £
Trade debtors 0 6,000

6. Creditors: amounts falling due within one year

2023 2022
£ £
Taxation and social security 64,241 0
Other creditors 388,026 386,596
452,267 386,596

7. Related party transactions

Transactions with the entity's directors

In July 2017 the company entered into a borrowing facility totaling up to EUR500,000 between the company and some directors and shareholders. At the balance sheet date £259,191/EUR298,000 (2022: £264,223/EUR298,000) had been drawn. Interest is charged at 2.5%. The loan is unsecured, repayable on demand and is included in the creditors note.