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REGISTERED NUMBER: 04229855 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2024

FOR

PATHFIELD ESTATES LTD

PATHFIELD ESTATES LTD (REGISTERED NUMBER: 04229855)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


PATHFIELD ESTATES LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 30 JUNE 2024







DIRECTORS: N Schwartz
M Aksler





SECRETARY: M Aksler





REGISTERED OFFICE: 115 Craven Park Road
South Tottenham
London
N15 6BL





REGISTERED NUMBER: 04229855 (England and Wales)





ACCOUNTANTS: Venitt and Greaves
Chartered Accountants
115 Craven Park Road
South Tottenham
London
N15 6BL

PATHFIELD ESTATES LTD (REGISTERED NUMBER: 04229855)

STATEMENT OF FINANCIAL POSITION
30 JUNE 2024

30.6.24 30.6.23
Notes £    £   
FIXED ASSETS
Tangible assets 5 5,378 6,327
Investment property 6 5,623,388 5,623,388
5,628,766 5,629,715

CURRENT ASSETS
Debtors 7 2,402,961 1,695,293
Cash at bank 28,628 44,739
2,431,589 1,740,032
CREDITORS
Amounts falling due within one year 8 (1,135,685 ) (679,682 )
NET CURRENT ASSETS 1,295,904 1,060,350
TOTAL ASSETS LESS CURRENT
LIABILITIES

6,924,670

6,690,065

CREDITORS
Amounts falling due after more than one
year

9

(2,813,665

)

(2,416,702

)

PROVISIONS FOR LIABILITIES (557,063 ) (557,063 )
NET ASSETS 3,553,942 3,716,300

CAPITAL AND RESERVES
Called up share capital 12 2 2
Fair value reserve 13 2,982,892 2,982,892
Retained earnings 13 571,048 733,406
SHAREHOLDERS' FUNDS 3,553,942 3,716,300

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.

PATHFIELD ESTATES LTD (REGISTERED NUMBER: 04229855)

STATEMENT OF FINANCIAL POSITION - 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 and authorized for issue by the Board of Directors and authorised for issue on 23 June 2025 and were signed on its behalf by:





M Aksler - Director


PATHFIELD ESTATES LTD (REGISTERED NUMBER: 04229855)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

1. STATUTORY INFORMATION

Pathfield Estates 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. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover
Turnover represents net rent receivable, excluding value added tax.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 15% on reducing balance

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

5. TANGIBLE FIXED ASSETS
Fixtures
and
fittings
£   
COST
At 1 July 2023
and 30 June 2024 40,628
DEPRECIATION
At 1 July 2023 34,301
Charge for year 949
At 30 June 2024 35,250
NET BOOK VALUE
At 30 June 2024 5,378
At 30 June 2023 6,327

PATHFIELD ESTATES LTD (REGISTERED NUMBER: 04229855)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024

6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 July 2023
and 30 June 2024 5,623,388
NET BOOK VALUE
At 30 June 2024 5,623,388
At 30 June 2023 5,623,388

The fair value of investment property was assessed to be unchanged by the director. The fair value was determined using open market valuation method. The director does not have a formal qualification but considerable experience in property market to ascertain the fair value with sufficient level of confidence.

Fair value at 30 June 2024 is represented by:
£   
Valuation in 2017 3,499,955
Cost 2,123,433
5,623,388

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.24 30.6.23
£    £   
Trade debtors 5,026 4,065
Other debtors 2,397,935 1,691,228
2,402,961 1,695,293

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.24 30.6.23
£    £   
Taxation and social security 5,766 5,799
Other creditors 1,129,919 673,883
1,135,685 679,682

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30.6.24 30.6.23
£    £   
Bank loans (see note 10) 2,780,900 2,378,382
Other creditors 32,765 38,320
2,813,665 2,416,702

PATHFIELD ESTATES LTD (REGISTERED NUMBER: 04229855)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024

9. 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 otherwise than by instalments
Bank loan 2,085,496 1,381,669
Bank loan - 276,090
2,085,496 1,657,759

Repayable by instalments
Bank loans more 5 yr by instal 695,404 720,623
Other loans more 5yrs instal 32,765 38,320
728,169 758,943

Other creditors include £32,765 received under Bounceback Loan Scheme (BBL). The loan is unsecured, interest free for the first year, then capped at 2.5% and guaranteed by HM Government.

10. LOANS

An analysis of the maturity of loans is given below:

30.6.24 30.6.23
£    £   
Amounts falling due in more than five years:
Repayable otherwise than by instalments
Bank loan 2,085,496 1,381,669
Bank loan - 276,090
2,085,496 1,657,759

Repayable by instalments
Bank loans more 5 yr by instal 695,404 720,623
Other loans more 5yrs instal 32,765 38,320
728,169 758,943

11. SECURED DEBTS

The following secured debts are included within creditors:

30.6.24 30.6.23
£    £   
Bank loans 2,780,900 2,378,382
Other loans 32,765 38,320
2,813,665 2,416,702

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.

PATHFIELD ESTATES LTD (REGISTERED NUMBER: 04229855)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024

12. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 30.6.24 30.6.23
value: £    £   
2 Ordinary £1 2 2

13. RESERVES
Fair
Retained value
earnings reserve Totals
£    £    £   

At 1 July 2023 733,406 2,982,892 3,716,298
Deficit for the year (162,358 ) (162,358 )
At 30 June 2024 571,048 2,982,892 3,553,940

14. ULTIMATE CONTROLLING PARTY

The controlling party is M Aksler.