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Company Registration No. 02689738 (England and Wales)
Poloplace Limited Unaudited accounts for the year ended 31 May 2024
Poloplace Limited Unaudited accounts Contents
Page
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Poloplace Limited Company Information for the year ended 31 May 2024
Directors
D S Goraya N S Sheera A Goraya
Secretary
N K Goraya
Company Number
02689738 (England and Wales)
Registered Office
157 Friern Barnet Lane Whetstone London N20 0NN
Accountants
Charterwells Suite 8, 2nd Floor 43-45 High Road Bushey Heath WD23 1EE
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Poloplace Limited Statement of financial position as at 31 May 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Tangible assets
74 
93 
Investment property
14,763,505 
15,003,505 
Investments
12,743 
12,743 
14,776,322 
15,016,341 
Current assets
Debtors
699,857 
920,831 
Cash at bank and in hand
59,933 
44,195 
759,790 
965,026 
Creditors: amounts falling due within one year
(862,425)
(907,754)
Net current (liabilities)/assets
(102,635)
57,272 
Total assets less current liabilities
14,673,687 
15,073,613 
Creditors: amounts falling due after more than one year
(2,749,306)
(3,271,369)
Provisions for liabilities
Deferred tax
(1,101,517)
(1,101,517)
Net assets
10,822,864 
10,700,727 
Capital and reserves
Called up share capital
265,000 
265,000 
Profit and loss account
10,557,864 
10,435,727 
Shareholders' funds
10,822,864 
10,700,727 
For the year ending 31 May 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 20 February 2025 and were signed on its behalf by
N S Sheera Director Company Registration No. 02689738
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Poloplace Limited Notes to the Accounts for the year ended 31 May 2024
1
Statutory information
Poloplace Limited is a private company, limited by shares, registered in England and Wales, registration number 02689738. The registered office is 157 Friern Barnet Lane, Whetstone, London, N20 0NN.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
Turnover is measured on the basis of the consideration received for the sale of properties.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Fixtures & fittings
20% on written down value.
Investments
Investments in shares are included at fair value.
Investment property
Investment property is included at market fair value. Gains are recognised in the income statement. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.
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Poloplace Limited Notes to the Accounts for the year ended 31 May 2024
4
Tangible fixed assets
Fixtures & fittings 
£ 
Cost or valuation
At cost 
At 1 June 2023
50,610 
At 31 May 2024
50,610 
Depreciation
At 1 June 2023
50,517 
Charge for the year
19 
At 31 May 2024
50,536 
Net book value
At 31 May 2024
74 
At 31 May 2023
93 
5
Investment property
2024 
£ 
Fair value at 1 June 2023
15,003,505 
Disposals
(240,000)
At 31 May 2024
14,763,505 
Valuation completed by the directors based on their research and experience.
6
Investments
Other investments 
£ 
Valuation at 1 June 2023
12,743 
Valuation at 31 May 2024
12,743 
7
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
Accrued income and prepayments
20,929 
18,305 
Other debtors
678,928 
902,526 
699,857 
920,831 
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Poloplace Limited Notes to the Accounts for the year ended 31 May 2024
8
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
Bank loans and overdrafts
272,534 
272,534 
Taxes and social security
30,253 
75,582 
Other creditors
547,849 
547,849 
Accruals
8,789 
8,789 
Deferred income
3,000 
3,000 
862,425 
907,754 
Bank loans are secured by charges against various company properties.
9
Creditors: amounts falling due after more than one year
2024 
2023 
£ 
£ 
Bank loans
1,681,972 
2,200,000 
Other creditors
397,728 
397,728 
Loans from directors
669,606 
673,641 
2,749,306 
3,271,369 
Bank loans are secured by charges against various company properties.
10
Share capital
2024 
2023 
£ 
£ 
Allotted, called up and fully paid:
265,000 Ordinary shares of £1 each
265,000 
265,000 
11
Average number of employees
During the year the average number of employees was 2 (2023: 2).
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