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REGISTERED NUMBER: 09535841 (England and Wales)












FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30TH JUNE 2024

FOR

PROPERTY NETWORK ASSET MANAGEMENT LTD

PROPERTY NETWORK ASSET MANAGEMENT LTD (REGISTERED NUMBER: 09535841)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30TH JUNE 2024




Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4


PROPERTY NETWORK ASSET MANAGEMENT LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 30TH JUNE 2024







DIRECTOR: K A Patel





REGISTERED OFFICE: 1st Floor
33 Brighton Raod
South Croydon
Surrey
CR2 6EB





REGISTERED NUMBER: 09535841 (England and Wales)





ACCOUNTANTS: M C Patel & Co
Chartered Accountants
Hillingdon House
386/388 Kenton Road
Kenton
Harrow
Middlesex
HA3 9DP

PROPERTY NETWORK ASSET MANAGEMENT LTD (REGISTERED NUMBER: 09535841)

ABRIDGED BALANCE SHEET
30TH JUNE 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Investment property 4 2,893,367 2,893,367

CURRENT ASSETS
Debtors 1,201 2,449
Cash at bank 27 40
1,228 2,489
CREDITORS
Amounts falling due within one year 38,813 33,822
NET CURRENT LIABILITIES (37,585 ) (31,333 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,855,782

2,862,034

CREDITORS
Amounts falling due after more than one
year

(2,637,773

)

(2,673,777

)

PROVISIONS FOR LIABILITIES 5 (37,837 ) (37,837 )
NET ASSETS 180,172 150,420

CAPITAL AND RESERVES
Called up share capital 1,000 1,000
Retained earnings 179,172 149,420
SHAREHOLDERS' FUNDS 180,172 150,420

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

The members have not required the company to obtain an audit of its financial statements for the year ended 30th June 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

PROPERTY NETWORK ASSET MANAGEMENT LTD (REGISTERED NUMBER: 09535841)

ABRIDGED BALANCE SHEET - continued
30TH JUNE 2024


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

All the members have consented to the preparation of an abridged Income Statement and an abridged Balance Sheet for the year ended 30th June 2024 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 18th March 2025 and were signed by:





K A Patel - Director


PROPERTY NETWORK ASSET MANAGEMENT LTD (REGISTERED NUMBER: 09535841)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30TH JUNE 2024

1. STATUTORY INFORMATION

Property Network Asset Management 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.

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.

Turnover
Turnover represents rents collected.

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 NIL (2023 - NIL).

PROPERTY NETWORK ASSET MANAGEMENT LTD (REGISTERED NUMBER: 09535841)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30TH JUNE 2024

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1st July 2023
and 30th June 2024 2,893,367
NET BOOK VALUE
At 30th June 2024 2,893,367
At 30th June 2023 2,893,367

Fair value at 30th June 2024 is represented by:
£   
Valuation in 2018 523,798
Valuation in 2020 295,344
Valuation in 2023 (620,000 )
Cost 2,694,225
2,893,367

5. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax 37,837 37,837

Deferred
tax
£   
Balance at 1st July 2023 37,837
Balance at 30th June 2024 37,837