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REGISTERED NUMBER: 08717246 (England and Wales)











UNAUDITED FINANCIAL STATEMENTS

FOR THE PERIOD 1 MAY 2023 TO 4 OCTOBER 2024

FOR

PALACIO PROPERTIES LIMITED

PALACIO PROPERTIES LIMITED (REGISTERED NUMBER: 08717246)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE PERIOD 1 MAY 2023 TO 4 OCTOBER 2024










Page

Balance Sheet 1

Notes to the Financial Statements 2


PALACIO PROPERTIES LIMITED (REGISTERED NUMBER: 08717246)

BALANCE SHEET
4 OCTOBER 2024

2024 2023
Notes £    £   
FIXED ASSETS
Tangible assets 5 - 143
Investments 6 - 15
Investment property 7 - 347,826
- 347,984

CURRENT ASSETS
Debtors 8 353,197 617
Cash at bank and in hand 1,710 11,790
354,907 12,407
CREDITORS
Amounts falling due within one year 9 7,204 (54,893 )
NET CURRENT ASSETS/(LIABILITIES) 362,111 (42,486 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

362,111

305,498

PROVISIONS FOR LIABILITIES - (13,547 )
NET ASSETS 362,111 291,951

CAPITAL AND RESERVES
Called up share capital 1,600 1,600
Revaluation reserve 10 - 62,075
Retained earnings 360,511 228,276
SHAREHOLDERS' FUNDS 362,111 291,951

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 4 October 2024.

The members have not required the company to obtain an audit of its financial statements for the period ended 4 October 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 14 March 2025 and were signed on its behalf by:



Mr B G Wilsher FCA - Director


PALACIO PROPERTIES LIMITED (REGISTERED NUMBER: 08717246)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD 1 MAY 2023 TO 4 OCTOBER 2024


1. STATUTORY INFORMATION

Palacio Properties Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 08717246

Registered office: 20 Abbotswood Road
London
SW16 1AP

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


2. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover
Turnover represents invoiced property letting income.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.

Fixtures and fittings - 25% on reducing balance

Tangible fixed assets are initially recognised at cost. The cost includes all costs necessary to bring the assets to working condition for its intended use.

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 period 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 period 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.

PALACIO PROPERTIES LIMITED (REGISTERED NUMBER: 08717246)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 1 MAY 2023 TO 4 OCTOBER 2024


4. EMPLOYEES AND DIRECTORS

The average number of employees during the period was NIL (2023 - NIL).

5. TANGIBLE FIXED ASSETS
Fixtures
and
fittings
£   
COST
At 1 May 2023 31,258
Disposals (31,258 )
At 4 October 2024 -
DEPRECIATION
At 1 May 2023 31,115
Charge for period 143
Eliminated on disposal (31,258 )
At 4 October 2024 -
NET BOOK VALUE
At 4 October 2024 -
At 30 April 2023 143

6. FIXED ASSET INVESTMENTS
Interest
in other
participating
interests
£   
COST
At 1 May 2023 15
Disposals (15 )
At 4 October 2024 -
NET BOOK VALUE
At 4 October 2024 -
At 30 April 2023 15

7. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 May 2023 347,826
Disposals (347,826 )
At 4 October 2024 -
NET BOOK VALUE
At 4 October 2024 -
At 30 April 2023 347,826

PALACIO PROPERTIES LIMITED (REGISTERED NUMBER: 08717246)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 1 MAY 2023 TO 4 OCTOBER 2024


7. INVESTMENT PROPERTY - continued

Fair value at 4 October 2024 is represented by:
£   
Valuation in 2017 43,664
Valuation in 2019 60,239
Valuation in 2023 (28,281 )
75,622

8. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other debtors 353,197 617

9. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Taxation and social security (11,655 ) -
Other creditors 4,451 54,893
(7,204 ) 54,893

10. RESERVES
Revaluation
reserve
£   
At 1 May 2023 62,075
Transfer to Reserves 13,547
Release of reserves (75,622 )

At 4 October 2024 -