Company Registration No. 11537518 (England and Wales)
Paal Group Limited
Unaudited accounts
for the year ended 31 July 2024
Paal Group Limited
Unaudited accounts
Contents
Paal Group Limited
Company Information
for the year ended 31 July 2024
Directors
Vikramjeet Singh Landa
Jagatjeet Singh Landa
Pritpal Landa
Company Number
11537518 (England and Wales)
Registered Office
The Clocktower Park Road
Bestwood Village
Nottingham
NG6 8TQ
England
Accountants
Net Accountancy Solutions Limited
12 Harles Acres
Hickling
Melton Mowbray
LEICESTERSHIRE
LE14 3AF
Paal Group Limited
Statement of financial position
as at 31 July 2024
Investment property
445,474
445,474
Cash at bank and in hand
335
46
Creditors: amounts falling due within one year
(469,293)
(471,554)
Net current liabilities
(461,423)
(461,508)
Net liabilities
(15,949)
(16,034)
Called up share capital
100
100
Profit and loss account
(16,049)
(16,134)
Shareholders' funds
(15,949)
(16,034)
For the year ending 31 July 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 16 April 2025 and were signed on its behalf by
Pritpal Landa
Director
Company Registration No. 11537518
Paal Group Limited
Notes to the Accounts
for the year ended 31 July 2024
Paal Group Limited is a private company, limited by shares, registered in England and Wales, registration number 11537518. The registered office is The Clocktower Park Road, Bestwood Village, Nottingham, NG6 8TQ, England.
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.
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.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
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.
The accounts have been prepared on a going concern basis on the understanding that the directors will continue to support the company financially for the foreseeable future.
4
Tangible fixed assets
Computer equipment
Fair value at 1 August 2023
445,474
Paal Group Limited
Notes to the Accounts
for the year ended 31 July 2024
Amounts falling due within one year
Other debtors
7,364
10,000
7
Creditors: amounts falling due within one year
2024
2023
Trade creditors
1,103
1,507
Taxes and social security
(413)
994
Other creditors
6,690
7,190
Loans from directors
461,913
461,863
8
Transactions with related parties
In the year ended 31st July 2023 the directors loaned the company £461,863 in order for it to purchase The Clock Tower. At the end of the year £461,913 was owed to the directors (2023: £461,863) The loan is interest free and repayable on demand and shown under creditors: amounts falling due within one year.
9
Average number of employees
During the year the average number of employees was 0 (2023: 0).