Registered number
06033426
Pall Mall Brokers Limited
Report and Accounts
30 April 2025
Pall Mall Brokers Limited
Report and accounts
Contents
Page
Company information 1
Directors' report 2
Accountants' report 3
Profit and loss account 4
Balance sheet 6
Statement of changes in equity 7
Notes to the accounts 8
Pall Mall Brokers Limited
Company Information
Directors
Mrs. J A Debney
Mrs. E J Debney
Mrs. C E Hardesty
Ms. P A Debney
Mr. T J Debney
Secretary
Mrs. J A Debney
Accountants
McGrath and Company,
Chartered Certified Accountants,
First Floor, 1 Park Court,
Pyrford Road,
West Byfleet,
Surrey,
KT14 6SD.
Bankers
NatWest Bank plc,
151 High Street,
Guildford,
Surrey,
GU1 3AH.
Registered office
Farrs Cottage,
High Street,
Ripley,
Surrey,
GU23 6WD.
Registered number
06033426
Pall Mall Brokers Limited
Registered number: 06033426
Directors' Report
The directors present their report and accounts for the year ended 30 April 2025.
Principal activities
The company's principal activity during the year continued to be finance broking and the provision of asset finance for plant, equipment and vehicles on hire purchase and finance leases.
Directors
The following persons served as directors during the year:
Mrs. J A Debney
Mrs. E J Debney
Mrs. C E Hardesty
Ms. P A Debney
Mr. T J Debney
Small company provisions
This report has been prepared in accordance with the provisions in Part 15 of the Companies Act 2006 applicable to companies subject to the small companies regime.
This report was approved by the board on 25 June 2025 and signed on its behalf.
Mrs. J A Debney
Director
Pall Mall Brokers Limited
Accountants' Report
Accountants' report to the directors of
Pall Mall Brokers Limited
You consider that the company is exempt from an audit for the year ended 30 April 2025. You have acknowledged, on the balance sheet, your responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. These responsibilities include preparing accounts that give a true and fair view of the state of affairs of the company at the end of the financial year and of its profit or loss for the financial year.
In accordance with your instructions, we have prepared the accounts which comprise the Profit and Loss Account, the Statement of Comprehensive Income, the Balance Sheet, the Statement of Changes in Equity and the related notes from the accounting records of the company and on the basis of information and explanations you have given to us.
We have not carried out an audit or any other review, and consequently we do not express any opinion on these accounts.
McGrath and Company,
Chartered Certified Accountants,
First Floor, 1 Park Court,
Pyrford Road,
West Byfleet,
Surrey,
KT14 6SD.
25 June 2025
Pall Mall Brokers Limited
Profit and Loss Account
for the year ended 30 April 2025
2025 2024
£ £
Turnover 802,606 815,548
Cost of sales (195,855) (218,447)
Gross profit 606,751 597,101
Administrative expenses (354,605) (331,575)
Operating profit 252,146 265,526
Profit on ordinary activities before taxation 252,146 265,526
Tax on profit on ordinary activities (85,407) (78,901)
Profit for the financial year 166,739 186,625
Pall Mall Brokers Limited
Statement of comprehensive income
for the year ended 30 April 2025
2025 2024
£ £
Profit for the financial year 166,739 186,625
Other comprehensive income
Total comprehensive income for the year 166,739 186,625
Pall Mall Brokers Limited
Registered number: 06033426
Balance Sheet
as at 30 April 2025
Notes 2025 2024
£ £
Fixed assets
Tangible assets 3 4,397 8,366
Current assets
Debtors 4 4,331,279 4,068,148
Cash at bank and in hand 16,924 153,527
4,348,203 4,221,675
Creditors: amounts falling due within one year 5 (1,855,313) (2,229,777)
Net current assets 2,492,890 1,991,898
Total assets less current liabilities 2,497,287 2,000,264
Creditors: amounts falling due after more than one year 6 (1,010,899) (661,615)
Net assets 1,486,388 1,338,649
Capital and reserves
Called up share capital 190 190
Profit and loss account 1,486,198 1,338,459
Shareholders' funds 1,486,388 1,338,649
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Ms. P A Debney
Director
Approved by the board on 25 June 2025
Pall Mall Brokers Limited
Statement of Changes in Equity
for the year ended 30 April 2025
Share Share Re- Profit Total
capital premium valuation and loss
reserve account
£ £ £ £ £
At 1 May 2023 190 - - 1,170,834 1,171,024
Profit for the financial year 186,625 186,625
Dividends (19,000) (19,000)
At 30 April 2024 190 - - 1,338,459 1,338,649
At 1 May 2024 190 - - 1,338,459 1,338,649
Profit for the financial year 166,739 166,739
Dividends (19,000) (19,000)
At 30 April 2025 190 - - 1,486,198 1,486,388
Pall Mall Brokers Limited
Notes to the Accounts
for the year ended 30 April 2025
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Income from finance lease agreements and hire purchase agreements is recognised over the primary period of the lease on a straight line basis.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery 50% straight line
Leasehold Improvements 50% straight line
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Leasing and hire purchase commitments
Finance lease agreements and hire purchase contracts are accounted for on the basis of gross receivables less unearned income and are included in debtors.
2 Employees 2025 2024
Number Number
Average number of persons employed by the company 3 3
3 Tangible fixed assets
Leasehold buildings Plant and machinery etc Total
£ £ £
Cost
At 1 May 2024 25,098 137,057 162,155
Additions - 4,397 4,397
Disposals - (119,941) (119,941)
At 30 April 2025 25,098 21,513 46,611
Depreciation
At 1 May 2024 16,732 137,057 153,789
Charge for the year 8,366 - 8,366
On disposals - (119,941) (119,941)
At 30 April 2025 25,098 17,116 42,214
Net book value
At 30 April 2025 - 4,397 4,397
At 30 April 2024 8,366 - 8,366
4 Debtors 2025 2024
£ £
Debtors due under finance leases - -
Debtors due under hire purchase 4,316,550 4,045,926
Trade debtors - 7,980
Other debtors 14,729 14,242
4,331,279 4,068,148
Amounts due after more than one year included above 2,254,566 2,080,074
5 Creditors: amounts falling due within one year 2025 2024
£ £
Bank loans and overdrafts - -
Sundry loans 925,000 1,225,000
Block discounting creditors 209,067 294,485
Other taxes and social security costs 90,812 83,369
Loans from Debney Partnership 620,000 620,000
Other creditors 10,434 6,923
1,855,313 2,229,777
The block discounting creditors are secured by a charge over leasing and hire purchase agreements.
6 Creditors: amounts falling due after one year 2025 2024
£ £
Redeemable preference shares 450,000 450,000
Sundry loans 450,000 150,000
Block discounting creditors 110,899 61,615
1,010,899 661,615
7 Secured Loans 2025 2024
£ £
Creditors include:
Loans from Debney Partnership 620,000 620,000
The loans from Debney Partnership are secured by debenture over the assets of the company.
8 Share Capital Nominal 2025 2025 2024
Value Number £ £
Allotted, called up and fully paid:
Ordinary shares £1 each 190 190 190
Preference shares £1 each 450,000 450,000 450,000
450,190 450,190
The Preference Shares are redeemable at the discretion of the shareholders, on giving 24 months written notice to the company of their intention to redeem the shares. There is an annual dividend rate of 5% attached to the shares which is cumulative.
9 Contingent liabilities
Charges have been given to Renaissance Asset Finance Limited for all monies due or to become due on specific agreements deposited with the relevant institutions and the underlying assets (the subject matter of the agreements) by the company.
A debenture has been given to Debney Partnership in respect of it's indebtedness.
10 Related party transactions
A) The bank overdraft facilities are personally guaranteed by Ms. P Debney and Mrs. J A Debney.
B) The block discounting facilities are personally guaranteed by Ms. P Debney and Mrs. J A Debney.
11 Controlling party
The company is controlled by the directors.
12 Other information
Pall Mall Brokers Limited is a private company limited by shares and incorporated in England. Its registered office is:
Farrs Cottage,
High Street,
Ripley,
Surrey,
GU23 6WD.
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