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REGISTERED NUMBER: 12843044 (England and Wales)












Unaudited Financial Statements

for the Year Ended 31 August 2024

for

Pals Property Holdings Limited

Pals Property Holdings Limited (Registered number: 12843044)






Contents of the Financial Statements
for the Year Ended 31 August 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Pals Property Holdings Limited

Company Information
for the Year Ended 31 August 2024







DIRECTORS: P Towler
Mrs A L Towler





REGISTERED OFFICE: Unit 5 Dorlan Court
Alan Ramsbottom Way
Great Harwood
Lancashire
BB6 7UR





REGISTERED NUMBER: 12843044 (England and Wales)





ACCOUNTANTS: Xeinadin
Ground Floor
Citygate
Longridge Road
Preston
Lancashire
PR2 5BQ

Pals Property Holdings Limited (Registered number: 12843044)

Balance Sheet
31 August 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Investment property 4 980,524 980,524

CURRENT ASSETS
Debtors 5 18,998 24,389
Cash at bank 3,124 4,368
22,122 28,757
CREDITORS
Amounts falling due within one year 6 317,874 315,680
NET CURRENT LIABILITIES (295,752 ) (286,923 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

684,772

693,601

CREDITORS
Amounts falling due after more than
one year

7

315,086

321,714
NET ASSETS 369,686 371,887

CAPITAL AND RESERVES
Called up share capital 100 100
Revaluation reserve 8 383,437 383,437
Retained earnings (13,851 ) (11,650 )
369,686 371,887

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 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.

Pals Property Holdings Limited (Registered number: 12843044)

Balance Sheet - continued
31 August 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 2 January 2025 and were signed on its behalf by:





P Towler - Director


Pals Property Holdings Limited (Registered number: 12843044)

Notes to the Financial Statements
for the Year Ended 31 August 2024

1. STATUTORY INFORMATION

Pals Property Holdings 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.

Rent received
Rent received is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

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 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 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

Pals Property Holdings Limited (Registered number: 12843044)

Notes to the Financial Statements - continued
for the Year Ended 31 August 2024

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 September 2023
and 31 August 2024 980,524
NET BOOK VALUE
At 31 August 2024 980,524
At 31 August 2023 980,524

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 70 5,750
Amounts owed by group undertakings 11,300 11,200
Directors' current accounts 4,000 4,000
Prepayments 3,628 3,439
18,998 24,389

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 17,344 17,709
Amounts owed to group undertakings 292,066 288,746
Tax 4,472 1,513
VAT 1,866 1,770
Accruals and deferred income 2,126 5,942
317,874 315,680

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans - 1-2 years 17,344 17,709
Bank loans - 2-5 years 52,033 53,127
Bank loans more 5 yr by instal 245,709 250,878
315,086 321,714

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 245,709 250,878

Pals Property Holdings Limited (Registered number: 12843044)

Notes to the Financial Statements - continued
for the Year Ended 31 August 2024

8. RESERVES
Revaluation
reserve
£   
At 1 September 2023
and 31 August 2024 383,437

9. ULTIMATE CONTROLLING PARTY

PALS Property Holdings Limited is under the control of PALS Group Limited.
PALS Group Limited is under the control of Mr P Towler and Mrs A Towler.