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REGISTERED NUMBER: 14006408 (England and Wales)











Financial Statements

for the Year Ended 31 August 2024

for

PAULIE'S PROPERTIES LTD

PAULIE'S PROPERTIES LTD (REGISTERED NUMBER: 14006408)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


PAULIE'S PROPERTIES LTD

Company Information
for the Year Ended 31 August 2024







DIRECTORS: Mr D M B Davis
Ms S J Kear





REGISTERED OFFICE: 42 Lytton Road
Barnet
Hertfordshire
EN5 5BY





REGISTERED NUMBER: 14006408 (England and Wales)





ACCOUNTANTS: Jeff Lermer & Associates
Chartered Accountants
42 Lytton Road
Barnet
Hertfordshire
EN5 5BY

PAULIE'S PROPERTIES LTD (REGISTERED NUMBER: 14006408)

Balance Sheet
31 August 2024

31.8.24 31.8.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 1,184 1,776
Investment property 5 706,232 684,522
707,416 686,298

CURRENT ASSETS
Debtors 6 2,514 354
Cash at bank 323,599 346,729
326,113 347,083
CREDITORS
Amounts falling due within one year 7 1,058,215 1,074,309
NET CURRENT LIABILITIES (732,102 ) (727,226 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(24,686

)

(40,928

)

CAPITAL AND RESERVES
Called up share capital 8 102 102
Retained earnings (24,788 ) (41,030 )
SHAREHOLDERS' FUNDS (24,686 ) (40,928 )

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.

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 13 February 2025 and were signed on its behalf by:





Mr D M B Davis - Director


PAULIE'S PROPERTIES LTD (REGISTERED NUMBER: 14006408)

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

1. STATUTORY INFORMATION

Paulie's Properties Ltd 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.

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 cost
Computer equipment - 25% on cost

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.

Going concern
The directors have a reasonable expectation that the company will continue in operational existence for the foreseeable future and therefore used the going concern basis in preparing the financial statements.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - 1 ) .

PAULIE'S PROPERTIES LTD (REGISTERED NUMBER: 14006408)

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

4. TANGIBLE FIXED ASSETS
Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
At 1 September 2023
and 31 August 2024 320 2,048 2,368
DEPRECIATION
At 1 September 2023 80 512 592
Charge for year 80 512 592
At 31 August 2024 160 1,024 1,184
NET BOOK VALUE
At 31 August 2024 160 1,024 1,184
At 31 August 2023 240 1,536 1,776

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 September 2023 684,522
Additions 21,710
At 31 August 2024 706,232
NET BOOK VALUE
At 31 August 2024 706,232
At 31 August 2023 684,522

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.8.24 31.8.23
£    £   
Trade debtors 1,646 -
Other debtors 715 102
Directors' current accounts 153 252
2,514 354

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.8.24 31.8.23
£    £   
Trade creditors (1 ) (1 )
Social security and other taxes - 352
Other creditors 527,033 535,008
Directors' current accounts 527,033 535,008
Accruals and deferred income 4,150 3,942
1,058,215 1,074,309

PAULIE'S PROPERTIES LTD (REGISTERED NUMBER: 14006408)

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

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.8.24 31.8.23
value: £    £   
1 A Ordinary £1 1 1
49 B Ordinary £1 49 49
49 C Ordinary £1 49 49
1 D Ordinary £1 1 1
1 E Ordinary £1 1 1
1 F Ordinary £1 1 1
102 102

9. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the year ended 31 August 2024 and the period ended 31 August 2023:

31.8.24 31.8.23
£    £   
Mr D M B Davis
Balance outstanding at start of year 252 -
Amounts advanced 9,000 9,000
Amounts repaid (9,100 ) (8,748 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 152 252

As at the balance sheet date, included in debtors due within one year is £152 (2023: £252), due and payable by the director.
This amount was repaid within 9 months of the year end.