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REGISTERED NUMBER: 12328473 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 NOVEMBER 2023

FOR

PALMWAY INVESTMENTS LIMITED

PALMWAY INVESTMENTS LIMITED (REGISTERED NUMBER: 12328473)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


PALMWAY INVESTMENTS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 NOVEMBER 2023







DIRECTOR: H Sternlicht





REGISTERED OFFICE: 30 Darenth Road
London
N16 6EJ





REGISTERED NUMBER: 12328473 (England and Wales)





ACCOUNTANTS: Venitt and Greaves
Chartered Accountants
115 Craven Park Road
South Tottenham
London
N15 6BL

PALMWAY INVESTMENTS LIMITED (REGISTERED NUMBER: 12328473)

BALANCE SHEET
30 NOVEMBER 2023

30.11.23 30.11.22
Notes £    £   
FIXED ASSETS
Investment property 4 1,327,943 1,327,943

CURRENT ASSETS
Debtors 5 - 32,000
Cash at bank 7,675 4,481
7,675 36,481
CREDITORS
Amounts falling due within one year 6 (451,388 ) (459,084 )
NET CURRENT LIABILITIES (443,713 ) (422,603 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

884,230

905,340

CREDITORS
Amounts falling due after more than one
year

7

(888,259

)

(899,997

)
NET (LIABILITIES)/ASSETS (4,029 ) 5,343

CAPITAL AND RESERVES
Called up share capital 8 1 1
Retained earnings 9 (4,030 ) 5,342
SHAREHOLDERS' FUNDS (4,029 ) 5,343

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 2023 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.

PALMWAY INVESTMENTS LIMITED (REGISTERED NUMBER: 12328473)

BALANCE SHEET - continued
30 NOVEMBER 2023


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 19 November 2024 and were signed by:





H Sternlicht - Director


PALMWAY INVESTMENTS LIMITED (REGISTERED NUMBER: 12328473)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023

1. STATUTORY INFORMATION

PALMWAY INVESTMENTS 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2022 - NIL).

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 December 2022
and 30 November 2023 1,327,943
NET BOOK VALUE
At 30 November 2023 1,327,943
At 30 November 2022 1,327,943

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.11.23 30.11.22
£    £   
Other debtors - 32,000

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.11.23 30.11.22
£    £   
Taxation and social security - 1,256
Other creditors 451,388 457,828
451,388 459,084

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30.11.23 30.11.22
£    £   
Bank loans 888,259 899,997

PALMWAY INVESTMENTS LIMITED (REGISTERED NUMBER: 12328473)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 NOVEMBER 2023

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR - continued
30.11.23 30.11.22
£    £   
Amounts falling due in more than five years:

Repayable otherwise than by instalments
Bank loans more 5 yrs non-inst 845,529 845,529

Repayable by instalments
Bank loans more 5 yr by instal 42,730 54,468

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 30.11.23 30.11.22
value: £    £   
1 Ordinary 1 1 1

9. RESERVES
Retained
earnings
£   

At 1 December 2022 5,342
Deficit for the year (9,372 )
At 30 November 2023 (4,030 )

10. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is H Sternlicht.