REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 27 FEBRUARY 2024 |
FOR |
PARK LANE INVESTMENT PROPERTIES LIMITED |
REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 27 FEBRUARY 2024 |
FOR |
PARK LANE INVESTMENT PROPERTIES LIMITED |
PARK LANE INVESTMENT PROPERTIES LIMITED (REGISTERED NUMBER: 02928806) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 27 FEBRUARY 2024 |
Page |
Company Information | 1 |
Statement of Financial Position | 2 |
Notes to the Financial Statements | 4 |
PARK LANE INVESTMENT PROPERTIES LIMITED |
COMPANY INFORMATION |
FOR THE YEAR ENDED 27 FEBRUARY 2024 |
DIRECTOR: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Unit 2.02 High Weald House |
Glovers End |
Bexhill |
East Sussex |
TN39 5ES |
PARK LANE INVESTMENT PROPERTIES LIMITED (REGISTERED NUMBER: 02928806) |
STATEMENT OF FINANCIAL POSITION |
27 FEBRUARY 2024 |
2024 | 2023 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Property, plant and equipment | 4 |
Investment property | 5 |
CURRENT ASSETS |
Debtors | 6 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 7 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
8 |
( |
) |
( |
) |
PROVISIONS FOR LIABILITIES | 10 | ( |
) | ( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital | 11 |
Special reserve |
Retained earnings |
SHAREHOLDERS' FUNDS |
PARK LANE INVESTMENT PROPERTIES LIMITED (REGISTERED NUMBER: 02928806) |
STATEMENT OF FINANCIAL POSITION - continued |
27 FEBRUARY 2024 |
The director acknowledges his 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. |
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
The financial statements were approved by the director and authorised for issue on |
PARK LANE INVESTMENT PROPERTIES LIMITED (REGISTERED NUMBER: 02928806) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 27 FEBRUARY 2024 |
1. | STATUTORY INFORMATION |
Park Lane Investment Properties Limited is a |
2. | ACCOUNTING POLICIES |
BASIS OF PREPARING THE FINANCIAL STATEMENTS |
TURNOVER |
Turnover represents net invoiced sales of goods, excluding value added tax. |
TANGIBLE FIXED ASSETS |
Fixtures and fittings | - |
TAXATION |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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 statement of financial position date. |
DEFERRED TAX |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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. |
PENSION COSTS AND OTHER POST-RETIREMENT BENEFITS |
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
PARK LANE INVESTMENT PROPERTIES LIMITED (REGISTERED NUMBER: 02928806) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 27 FEBRUARY 2024 |
4. | PROPERTY, PLANT AND EQUIPMENT |
Fixtures |
and |
fittings |
£ |
Cost |
At 28 February 2023 |
and 27 February 2024 |
Depreciation |
At 28 February 2023 |
and 27 February 2024 |
Net book value |
At 27 February 2024 |
At 27 February 2023 |
5. | INVESTMENT PROPERTY |
Total |
£ |
Fair value |
At 28 February 2023 |
Additions |
Disposals | ( |
) |
At 27 February 2024 |
Net book value |
At 27 February 2024 |
At 27 February 2023 |
Fair value at 27 February 2024 is represented by: |
£ |
Valuation in 2020 | 1,973,420 |
Valuation in 2018 | 686,000 |
Valuation in 2016 | 1,115,893 |
Cost | 23,286,017 |
27,061,330 |
PARK LANE INVESTMENT PROPERTIES LIMITED (REGISTERED NUMBER: 02928806) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 27 FEBRUARY 2024 |
6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Trade debtors |
Amounts owed by participating interests | 1,867,291 | 6,170,232 |
Other debtors |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Trade creditors |
Taxation and social security |
Other creditors |
8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2024 | 2023 |
£ | £ |
Bank loans |
9. | SECURED DEBTS |
There is a fixed and floating charge over the undertaken and all property and assets of the company. |
10. | PROVISIONS FOR LIABILITIES |
2024 | 2023 |
£ | £ |
Deferred tax | 379,264 | 296,106 |
Deferred |
tax |
£ |
Balance at 28 February 2023 |
Provided during year |
Balance at 27 February 2024 |
11. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2024 | 2023 |
value: | £ | £ |
Ordinary | £1 | 100 | 100 |
PARK LANE INVESTMENT PROPERTIES LIMITED (REGISTERED NUMBER: 02928806) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 27 FEBRUARY 2024 |
12. | CONTINGENT LIABILITIES |
The company has a contingent liability in respect of any remedial work that may occur as a result of any NHBC certificate claims. No amount can be quantified and the company is not aware of any such claims. |