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REGISTERED NUMBER: 11393758 (England and Wales)















Unaudited Financial Statements for the Year Ended 30 June 2024

for

Pallam Properties Ltd

Pallam Properties Ltd (Registered number: 11393758)






Contents of the Financial Statements
for the Year Ended 30 June 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Pallam Properties Ltd

Company Information
for the Year Ended 30 June 2024







DIRECTORS: P A Lambeth
Mrs L J Lambeth





REGISTERED OFFICE: Suite B, Castle House
Park Road
Banstead
Surrey
SM7 3BT





REGISTERED NUMBER: 11393758 (England and Wales)





ACCOUNTANTS: Lawrence Chartered Accountants
Castle House
Park Road
Banstead
Surrey
SM7 3BT

Pallam Properties Ltd (Registered number: 11393758)

Balance Sheet
30 June 2024

30.6.24 30.6.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 1,767,170 1,091,070

CURRENT ASSETS
Debtors 5 - 86,424
Cash at bank 244 843
244 87,267
CREDITORS
Amounts falling due within one year 6 374,996 262,657
NET CURRENT LIABILITIES (374,752 ) (175,390 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,392,418

915,680

CREDITORS
Amounts falling due after more than
one year

7

(953,662

)

(505,190

)

PROVISIONS FOR LIABILITIES (43,771 ) (27,765 )
NET ASSETS 394,985 382,725

CAPITAL AND RESERVES
Called up share capital 100 100
Revaluation reserve 8 155,779 155,779
Retained earnings 239,106 226,846
394,985 382,725

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

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 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.

Pallam Properties Ltd (Registered number: 11393758)

Balance Sheet - continued
30 June 2024


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 23 April 2025 and were signed on its behalf by:





P A Lambeth - Director


Pallam Properties Ltd (Registered number: 11393758)

Notes to the Financial Statements
for the Year Ended 30 June 2024

1. STATUTORY INFORMATION

Pallam Properties 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.

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


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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Improvements to property - 25% on reducing balance
Fixtures and fittings - 33% on cost

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 3 (2023 - 3 ) .

Pallam Properties Ltd (Registered number: 11393758)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024

4. TANGIBLE FIXED ASSETS
Improvements Fixtures
Freehold to and Motor
property property fittings vehicles Totals
£    £    £    £    £   
COST
At 1 July 2023 980,000 130,671 80,428 116,040 1,307,139
Additions 569,563 138,560 - - 708,123
At 30 June 2024 1,549,563 269,231 80,428 116,040 2,015,262
DEPRECIATION
At 1 July 2023 - 99,662 43,202 73,205 216,069
Charge for year - 7,753 13,561 10,709 32,023
At 30 June 2024 - 107,415 56,763 83,914 248,092
NET BOOK VALUE
At 30 June 2024 1,549,563 161,816 23,665 32,126 1,767,170
At 30 June 2023 980,000 31,009 37,226 42,835 1,091,070

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.24 30.6.23
£    £   
Amounts owed by participating interests - 85,724
Other debtors - 700
- 86,424

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.24 30.6.23
£    £   
Bank loans and overdrafts 54,106 36,455
Trade creditors 1,733 4,618
Amounts owed to participating interests 232,775 111,422
Taxation and social security 66,671 77,370
Other creditors 19,711 32,792
374,996 262,657

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
30.6.24 30.6.23
£    £   
Bank loans 953,662 493,986
Other creditors - 11,204
953,662 505,190

Pallam Properties Ltd (Registered number: 11393758)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR - continued
30.6.24 30.6.23
£    £   
Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 712,199 -

8. RESERVES
Revaluation
reserve
£   
At 1 July 2023
and 30 June 2024 155,779