Company registration number 05215965 (England and Wales)
PAISLEY SECURITIES LIMITED
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024
PAISLEY SECURITIES LIMITED
COMPANY INFORMATION
Directors
D A Pearlman
M R Goldberger
H A Pearlman
Secretary
M R Goldberger
Company number
05215965
Registered office
Quadrant House - Floor 6
4 Thomas More Square
London
E1W 1YW
Business address
1st Floor
9 White Lion Street
London
N1 9PD
Bankers
National Westminster Bank Plc
20 Amhurst Road
London
E8 1QZ
PAISLEY SECURITIES LIMITED
CONTENTS
Page
Directors' report
1
Profit and loss account
2
Balance sheet
3
Statement of changes in equity
4
Notes to the financial statements
5 - 9
PAISLEY SECURITIES LIMITED
DIRECTORS' REPORT
FOR THE YEAR ENDED 30 SEPTEMBER 2024
- 1 -

The directors present their annual report and financial statements for the year ended 30 September 2024.

Principal activities
The principal activity of the company continued to be that of property investment.
Results and dividends

The results for the year are set out on page 2. The directors do not recommend payment of an ordinary dividend.

Directors

The directors who held office during the year and up to the date of signature of the financial statements were as follows:

D A Pearlman
M R Goldberger
H A Pearlman
Small companies exemption

This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.

On behalf of the board
M R Goldberger
Director
18 June 2025
PAISLEY SECURITIES LIMITED
PROFIT AND LOSS ACCOUNT
FOR THE YEAR ENDED 30 SEPTEMBER 2024
- 2 -
2024
2023
Notes
£
£
Property expenses
1,429
(484)
Administrative expenses
(1,288)
(755)
Profit/(loss) before taxation
141
(1,239)
Tax on profit/(loss)
4
-
0
-
0
Profit/(loss) for the financial year
141
(1,239)
PAISLEY SECURITIES LIMITED
BALANCE SHEET
AS AT
30 SEPTEMBER 2024
30 September 2024
- 3 -
2024
2023
Notes
£
£
£
£
Current assets
Debtors
5
1,042
282
Cash at bank and in hand
11,528
11,298
12,570
11,580
Creditors: amounts falling due within one year
6
(1,384,359)
(1,383,510)
Net current liabilities
(1,371,789)
(1,371,930)
Capital and reserves
Called up share capital
7
100
100
Other equity reserve
9
-
0
-
0
Profit and loss reserves
9
(1,371,889)
(1,372,030)
Total equity
(1,371,789)
(1,371,930)

For the financial year ended 30 September 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

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

The financial statements were approved by the board of directors and authorised for issue on 18 June 2025 and are signed on its behalf by:
M R Goldberger
Director
Company Registration No. 05215965
PAISLEY SECURITIES LIMITED
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 30 SEPTEMBER 2024
- 4 -
Share capital
Profit and loss reserves
Total
£
£
£
Balance at 1 October 2022
100
(1,370,791)
(1,370,691)
Year ended 30 September 2023:
Loss and total comprehensive income for the year
-
(1,239)
(1,239)
Balance at 30 September 2023
100
(1,372,030)
(1,371,930)
Year ended 30 September 2024:
Profit and total comprehensive income for the year
-
141
141
Balance at 30 September 2024
100
(1,371,889)
(1,371,789)
PAISLEY SECURITIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024
- 5 -
1
Accounting policies
Company information

Paisley Securities Limited is a private company limited by shares incorporated in England and Wales. The registered office is Quadrant House - Floor 6, 4 Thomas More Square, London, E1W 1YW.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of investment properties at fair value. The principal accounting policies adopted are set out below.

1.2
Going concern

At the balance sheet date the company had net current liabilities of £1,37true1,789 (2022: £1,371,930).

 

The company is financed by loans from the director D A Pearlman or companies controlled by him. The directors have no reason to believe that this support will not continue in the forseeable future. The directors are satisfied that the Company has adequate resources to continue its operations for the forseeable future, and, therefore, continue to adopt the going concern basis in preparing the financial statements.

1.3
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.4
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

 

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

PAISLEY SECURITIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
1
Accounting policies
(Continued)
- 6 -
Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

 

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

 

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

1.5
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.6
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

 

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

 

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.7
Foreign exchange

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.

PAISLEY SECURITIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
- 7 -
2
Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the directors are required to make

judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not

readily apparent from other sources. The estimates and associated assumptions are based on historical

experience and other factors that are considered to be relevant. Actual results may differ from these

estimates.

 

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting

estimates are recognised in the period in which the estimate is revised where the revision affects only

that period, or in the period of the revision and future periods where the revision affects both current

and future periods.

 

3
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
-
0
-
0
PAISLEY SECURITIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
- 8 -
4
Taxation

The actual charge for the year can be reconciled to the expected charge/(credit) for the year based on the loss and the standard rate of tax as follows:

2024
2023
£
£
Profit/(loss) before taxation
141
(1,239)
Expected tax charge/(credit) based on the standard rate of corporation tax in the UK of 25.00% (2023: 22.00%)
35
(273)
Deferred tax not recognised
(35)
-
0
Other differences
-
0
273
Taxation charge for the year
-
-
5
Debtors
2024
2023
Amounts falling due within one year:
£
£
Other debtors
1,042
282
6
Creditors: amounts falling due within one year
2024
2023
£
£
Other creditors
1,384,059
1,383,510
Accruals and deferred income
300
-
0
1,384,359
1,383,510
PAISLEY SECURITIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
- 9 -
7
Called up share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
100
100
100
100
8
Equity

Called-up share capital

Represents the nominal value of shares that have been issued.

 

Other equity reserve

Represents fair value movements in investment property net of deferred tax, recognised in the current and previous reporting period.

 

Profit and loss account

Includes all current and prior period retained profits and losses.

9
Related party transactions
Transactions with related parties

At the year end, the company owed £1,383,017 (2023: £1,383,017) to Structadene Limited, a company controlled by D A Pearlman. The loan from Structadene Limited is non-interest bearing and repayable on demand.

10
Parent company

The company is controlled by D A Pearlman.

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