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REGISTERED NUMBER: 08016058 (England and Wales)















Financial Statements for the Year Ended 30 April 2024

for

59 - 63 Princes Gate Limited

59 - 63 Princes Gate Limited (Registered number: 08016058)

Contents of the Financial Statements
for the Year Ended 30 April 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


59 - 63 Princes Gate Limited

Company Information
for the Year Ended 30 April 2024







DIRECTORS: Mr A H A Kassim
Mr K F E Kanoo
Mr B Kanoo





SECRETARY: Turner Hampton Secretaries Limited





REGISTERED OFFICE: 238 Station Road
Addlestone
Surrey
KT15 2PS





REGISTERED NUMBER: 08016058 (England and Wales)





ACCOUNTANTS: Turner Hampton
Chartered Certified Accountants
238 Station Road
Addlestone
Surrey
KT15 2PS

59 - 63 Princes Gate Limited (Registered number: 08016058)

Balance Sheet
30 April 2024

30.4.24 30.4.23
Notes £    £   
FIXED ASSETS
Investment property 4 259,508 259,508

CURRENT ASSETS
Debtors 5 280,498 274,598

CREDITORS
Amounts falling due within one year 6 (138,904 ) (135,260 )
NET CURRENT ASSETS 141,594 139,338
TOTAL ASSETS LESS CURRENT LIABILITIES 401,102 398,846

CAPITAL AND RESERVES
Called up share capital 10 10
Share premium 493,362 493,362
Retained earnings (92,270 ) (94,526 )
SHAREHOLDERS' FUNDS 401,102 398,846

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

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

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 16 January 2025 and were signed on its behalf by:





Mr A J Al Darwish Fakhroo - Director


59 - 63 Princes Gate Limited (Registered number: 08016058)

Notes to the Financial Statements
for the Year Ended 30 April 2024


1. STATUTORY INFORMATION

59 - 63 Princes Gate 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.

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

Investment property
In accordance with the Financial Reporting Standard 102(1A) no depreciation is provided in respect of freehold properties held as investments. This is a departure from the requirements of the Companies Act 2006 which requires all properties to be depreciated. Such properties are held for investment and not for consumption and the directors consider that to depreciate them would not give a true and fair view. Depreciation is only one of the many factors reflected in the annual valuation and accordingly the amount of depreciation which might otherwise have been charged cannot be separately identified or quantified. The directors consider that this policy results in the financial statements giving a true and fair view.

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 NIL (2023 - 3 ).

59 - 63 Princes Gate Limited (Registered number: 08016058)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024


4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 May 2023
and 30 April 2024 259,508
NET BOOK VALUE
At 30 April 2024 259,508
At 30 April 2023 259,508

The property was purchased on 25 February 2013 for its open market value and as such the directors do not consider it necessary to revalue the property.

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.4.24 30.4.23
£    £   
Other debtors 280,498 274,598

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.4.24 30.4.23
£    £   
Trade creditors 3,600 1,633
Taxation and social security 3,054 3,011
Other creditors 132,250 130,616
138,904 135,260