Company Registration No. SC651948 (Scotland)
Palestrina Properties Ltd
Unaudited accounts
for the year ended 31 January 2024
Palestrina Properties Ltd
Unaudited accounts
Contents
Palestrina Properties Ltd
Company Information
for the year ended 31 January 2024
Directors
I Johnston
C Noel
Company Number
SC651948 (Scotland)
Registered Office
15 Richmond Drive
Cambuslang
Glasgow
G72 8BH
Scotland
Accountants
Taxsense
203 West Street
Fareham
Hants
PO16 0EN
Palestrina Properties Ltd
Statement of financial position
as at 31 January 2024
Tangible assets
456,852
375,190
Cash at bank and in hand
2,223
5,221
Creditors: amounts falling due within one year
(479,401)
(409,953)
Net current liabilities
(475,729)
(403,283)
Net liabilities
(18,877)
(28,093)
Called up share capital
2
2
Profit and loss account
(18,879)
(28,095)
Shareholders' funds
(18,877)
(28,093)
For the year ending 31 January 2024 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 29 October 2024 and were signed on its behalf by
I Johnston
Director
Company Registration No. SC651948
Palestrina Properties Ltd
Notes to the Accounts
for the year ended 31 January 2024
Palestrina Properties Ltd is a private company, limited by shares, registered in Scotland, registration number SC651948. The registered office is 15 Richmond Drive, Cambuslang, Glasgow, G72 8BH, Scotland.
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.
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.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
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:
Land & buildings
Not depreciate
Computer equipment
33% straight line
4
Tangible fixed assets
Land & buildings
Computer equipment
Total
Cost or valuation
At cost
At cost
At 1 February 2023
375,190
-
375,190
Additions
80,905
888
81,793
At 31 January 2024
456,095
888
456,983
Charge for the year
-
131
131
At 31 January 2024
-
131
131
At 31 January 2024
456,095
757
456,852
At 31 January 2023
375,190
-
375,190
Amounts falling due within one year
Palestrina Properties Ltd
Notes to the Accounts
for the year ended 31 January 2024
6
Creditors: amounts falling due within one year
2024
2023
Taxes and social security
-
2
Other creditors
81,601
85,960
Loans from directors
397,170
323,151
Allotted, called up and fully paid:
2 Ordinary shares of £1 each
2
2
Brought
Forward
Advance/
credit
Repaid
Carried
Forward
Director Loan Account
(161,576)
(53,121)
(16,112)
(198,585)
Director Loan Account
(161,575)
(53,121)
(16,111)
(198,585)
(323,151)
(106,242)
(32,223)
(397,170)
9
Average number of employees
During the year the average number of employees was 1 (2023: 1).