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REGISTERED NUMBER: 02928806 (England and Wales)





















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: Mr R B Beswick





REGISTERED OFFICE: 141-145 Bohemia Road,
St Leonards On Sea
East Sussex
TN37 6RL





REGISTERED NUMBER: 02928806 (England and Wales)





ACCOUNTANTS: Acuity Professional Partnership LLP
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 27,061,330 20,464,619
27,061,330 20,464,619

CURRENT ASSETS
Debtors 6 1,874,047 6,183,831
Cash at bank 767,526 1,257,030
2,641,573 7,440,861
CREDITORS
Amounts falling due within one year 7 452,957 256,849
NET CURRENT ASSETS 2,188,616 7,184,012
TOTAL ASSETS LESS CURRENT
LIABILITIES

29,249,946

27,648,631

CREDITORS
Amounts falling due after more than one
year

8

(17,858,979

)

(16,699,280

)

PROVISIONS FOR LIABILITIES 10 (379,264 ) (296,106 )
NET ASSETS 11,011,703 10,653,245

CAPITAL AND RESERVES
Called up share capital 11 100 100
Special reserve 3,288,628 3,421,785
Retained earnings 7,722,975 7,231,360
SHAREHOLDERS' FUNDS 11,011,703 10,653,245

PARK LANE INVESTMENT PROPERTIES LIMITED (REGISTERED NUMBER: 02928806)

STATEMENT OF FINANCIAL POSITION - continued
27 FEBRUARY 2024


The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 27 February 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 27 February 2024 in accordance with Section 476 of the Companies Act 2006.

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.

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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 25 November 2024 and were signed by:





Mr R B Beswick - Director


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 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.

TURNOVER
Turnover represents net invoiced sales of goods, excluding value added tax.

TANGIBLE FIXED ASSETS
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 25% on reducing balance

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 5 (2023 - 5 ) .

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 51,374
Depreciation
At 28 February 2023
and 27 February 2024 51,374
Net book value
At 27 February 2024 -
At 27 February 2023 -

5. INVESTMENT PROPERTY
Total
£   
Fair value
At 28 February 2023 20,464,619
Additions 6,711,711
Disposals (115,000 )
At 27 February 2024 27,061,330
Net book value
At 27 February 2024 27,061,330
At 27 February 2023 20,464,619

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 6,391 9,064
Amounts owed by participating interests 1,867,291 6,170,232
Other debtors 365 4,535
1,874,047 6,183,831

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 80,199 17,125
Taxation and social security 160,648 49,074
Other creditors 212,110 190,650
452,957 256,849

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans 17,858,979 16,699,280

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 296,106
Provided during year 83,158
Balance at 27 February 2024 379,264

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
100 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.