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Registration number: 12269137

Paola Investments Limited

Unaudited Financial Statements

for the Year Ended 31 March 2024

 

Paola Investments Limited

(Registration number: 12269137)

Balance Sheet as at 31 March 2024

Note

2024
£

2023
£

Fixed assets

 

Investments

3

4

4

Current assets

 

Debtors

4

366

366

Cash at bank and in hand

 

13,800

13,800

 

14,166

14,166

Creditors: Amounts falling due within one year

5

(21,583)

(21,583)

Net current liabilities

 

(7,417)

(7,417)

Net liabilities

 

(7,413)

(7,413)

Capital and reserves

 

Called up share capital

5

5

Retained earnings

(7,418)

(7,418)

Shareholders' deficit

 

(7,413)

(7,413)

For the financial year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Director's Report and the Profit and Loss Account has been taken.

These financial statements, which have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006 and in accordance with the provisions of FRS 102 Section 1A Small Entities, were approved and authorised for issue by the director on 6 June 2025
 

.........................................

Mr T Shah

Director

 

Paola Investments Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

1

Accounting policies

Statutory information

Paola Investments Limited is a private company, limited by shares, domiciled in England and Wales, company number 12269137. The registered office is at 3 Cavendish Court, South Parade, Doncaster, DN1 2DJ.

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value. The presentation currency is United Kingdom pounds sterling, which is the functional currency of the company. The financial statements are those of an individual entity.

2

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2023 - 1).

3

Investments

2024
£

2023
£

Investments in subsidiaries

4

4

Subsidiaries

£

Cost or valuation

Additions

4

Provision

Carrying amount

At 31 March 2024

4

At 31 March 2023

4

 

Paola Investments Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024 (continued)

3

Investments (continued)

Details of undertakings

Details of the investments (including principal place of business of unincorporated entities) in which the company holds 20% or more of the nominal value of any class of share capital are as follows:

Undertaking

Registered office

Holding

Proportion of voting rights and shares held

2024

2023

Subsidiary undertakings

Paola Limited

Charter Place
23-27 Seaton Place
St Helier
Jersey
JE1 1JY

Jersey

Ordinary

100%

100%

Comino Investments Limited

Charter Place
23-27 Seaton Place
St Helier
Jersey
JE1 1JY

Jersey

Ordinary

100%

100%

Subsidiary undertakings

Paola Limited

The principal activity of Paola Limited is a property holding company.

Comino Investments Limited

The principal activity of Comino Investments Limited is a property holding company.

4

Debtors

Current

2024
£

2023
£

Other debtors

366

366

 

366

366

 

Paola Investments Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024 (continued)

5

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Trade creditors

5,023

5,023

Accruals and deferred income

1,800

1,800

Other creditors

14,760

14,760

21,583

21,583

6

Related party transactions

The company was under the control of the Nadeem Shah 2004 Family Settlement trust throughout the year.