REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 OCTOBER 2024 |
FOR |
PALMWAY ESTATES LTD |
REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 OCTOBER 2024 |
FOR |
PALMWAY ESTATES LTD |
PALMWAY ESTATES LTD (REGISTERED NUMBER: 04202712) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 OCTOBER 2024 |
Page |
Company Information | 1 |
Statement of Financial Position | 2 |
Notes to the Financial Statements | 4 |
PALMWAY ESTATES LTD |
COMPANY INFORMATION |
FOR THE YEAR ENDED 30 OCTOBER 2024 |
DIRECTOR: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Accountants |
115 Craven Park Road |
South Tottenham |
London |
N15 6BL |
PALMWAY ESTATES LTD (REGISTERED NUMBER: 04202712) |
STATEMENT OF FINANCIAL POSITION |
30 OCTOBER 2024 |
30.10.24 | 30.10.23 |
Notes | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
Investment property | 5 |
CURRENT ASSETS |
Debtors | 6 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 7 | ( |
) | ( |
) |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
8 |
( |
) |
( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital | 10 |
Retained earnings | 11 |
SHAREHOLDERS' FUNDS |
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. |
PALMWAY ESTATES LTD (REGISTERED NUMBER: 04202712) |
STATEMENT OF FINANCIAL POSITION - continued |
30 OCTOBER 2024 |
The financial statements were approved by the director and authorised for issue on |
PALMWAY ESTATES LTD (REGISTERED NUMBER: 04202712) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 OCTOBER 2024 |
1. | STATUTORY INFORMATION |
Palmway Estates Ltd is a |
The presentation currency of the financial statements is the Pound Sterling (£). |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover |
Turnover represents net rent receivable, excluding value added tax. |
Tangible fixed assets |
Fixtures and fittings | - |
Investment property |
Investment Properties are included in the Balance Sheet at historical cost, which is not in accordance with Financial Reporting Standard for Smaller Entities(effective January 2015), which requires such properties to be stated at current market value. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
4. | TANGIBLE FIXED ASSETS |
Fixtures |
and |
fittings |
£ |
COST |
At 31 October 2023 |
and 30 October 2024 |
DEPRECIATION |
At 31 October 2023 |
Charge for year |
At 30 October 2024 |
NET BOOK VALUE |
At 30 October 2024 |
At 30 October 2023 |
PALMWAY ESTATES LTD (REGISTERED NUMBER: 04202712) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 OCTOBER 2024 |
5. | INVESTMENT PROPERTY |
Total |
£ |
FAIR VALUE |
At 31 October 2023 |
and 30 October 2024 |
NET BOOK VALUE |
At 30 October 2024 |
At 30 October 2023 |
The company's investment properties are included in the balance sheet at historical cost. |
The directors are of the opinion that the open market value of each of the companies investment properties is at least equal to the amount at which it is included in the financial statements. |
6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
30.10.24 | 30.10.23 |
£ | £ |
Other debtors |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
30.10.24 | 30.10.23 |
£ | £ |
Taxation and social security |
Other creditors |
8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
30.10.24 | 30.10.23 |
£ | £ |
Bank loans |
Amounts falling due in more than five years: |
Repayable by instalments |
Bank loans | 1,030,194 | 1,088,534 |
9. | SECURED DEBTS |
The following secured debts are included within creditors: |
30.10.24 | 30.10.23 |
£ | £ |
Bank loans |
The mortgage loans are secured by a first charge over the company's properties and a floating charge over the assets of the company, and bear interest at variable rates. |
PALMWAY ESTATES LTD (REGISTERED NUMBER: 04202712) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 OCTOBER 2024 |
10. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 30.10.24 | 30.10.23 |
value: | £ | £ |
Ordinary | £1 | 1 | 1 |
11. | RESERVES |
Retained |
earnings |
£ |
At 31 October 2023 |
Profit for the year |
At 30 October 2024 |
12. | ULTIMATE CONTROLLING PARTY |
The ultimate controlling party is |