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UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30TH APRIL 2024

FOR

PAYNE INVESTMENT GROUP LIMITED

PAYNE INVESTMENT GROUP LIMITED (REGISTERED NUMBER: 11291941)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30TH APRIL 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


PAYNE INVESTMENT GROUP LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30TH APRIL 2024







DIRECTORS: M Payne
Mrs A S Payne





REGISTERED OFFICE: C/o Evans Weir
The Victoria
25 St Pancras
Chichester
West Sussex
PO19 7LT





REGISTERED NUMBER: 11291941 (England and Wales)





ACCOUNTANTS: Evans Weir
The Victoria
25 St Pancras
Chichester
West Sussex
PO19 7LT

PAYNE INVESTMENT GROUP LIMITED (REGISTERED NUMBER: 11291941)

BALANCE SHEET
30TH APRIL 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 649 461
Investment property 5 1,090,069 1,121,069
1,090,718 1,121,530

CURRENT ASSETS
Debtors 6 303 279
Cash at bank 7,408 9,306
7,711 9,585
CREDITORS
Amounts falling due within one year 7 260,150 267,848
NET CURRENT LIABILITIES (252,439 ) (258,263 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

838,279

863,267

CREDITORS
Amounts falling due after more than one
year

8

(720,935

)

(720,935

)

PROVISIONS FOR LIABILITIES (22,800 ) (25,650 )
NET ASSETS 94,544 116,682

CAPITAL AND RESERVES
Called up share capital 20,000 20,000
Retained earnings 74,544 96,682
SHAREHOLDERS' FUNDS 94,544 116,682

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30th April 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30th April 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

PAYNE INVESTMENT GROUP LIMITED (REGISTERED NUMBER: 11291941)

BALANCE SHEET - continued
30TH APRIL 2024


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 19th November 2024 and were signed on its behalf by:




M Payne - Director



Mrs A S Payne - Director


PAYNE INVESTMENT GROUP LIMITED (REGISTERED NUMBER: 11291941)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30TH APRIL 2024

1. STATUTORY INFORMATION

Payne Investment Group Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

There was a net deficiency of assets of £20,169 at the balance sheet date, however the directors have confirmed continued support and consider the company retains sufficient working capital to continue trading for the foreseeable future.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - Straight line over 3 years

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Creditors
Short term creditors are measured at the transaction price.

Cash and cash equivalents
Cash is represented by cash in hand and deposits with financial institutions repayable without penalty.

Financial instruments
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors.

PAYNE INVESTMENT GROUP LIMITED (REGISTERED NUMBER: 11291941)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30TH APRIL 2024

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2023 - NIL).

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1st May 2023 995
Additions 436
At 30th April 2024 1,431
DEPRECIATION
At 1st May 2023 534
Charge for year 248
At 30th April 2024 782
NET BOOK VALUE
At 30th April 2024 649
At 30th April 2023 461

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1st May 2023 1,121,069
Revaluations (31,000 )
At 30th April 2024 1,090,069
NET BOOK VALUE
At 30th April 2024 1,090,069
At 30th April 2023 1,121,069

Fair value at 30th April 2024 is represented by:
£   
Valuation in 2022 745,608
Valuation in 2023 375,461
Valuation in 2024 (31,000 )
1,090,069

If Investment property had not been revalued it would have been included at the following historical cost:

2024 2023
£    £   
Cost 986,069 986,069

Investment property was valued on an open market value basis on 30th April 2024 by the director .

PAYNE INVESTMENT GROUP LIMITED (REGISTERED NUMBER: 11291941)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30TH APRIL 2024

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other debtors 303 279

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other creditors 260,150 267,848

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Other creditors 720,935 720,935

Amounts falling due in more than five years:

Repayable otherwise than by instalments
Other loans more 5yrs non-inst 720,935 720,935

9. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Other loans 720,935 720,935