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REGISTERED NUMBER: 11663085 (England and Wales)















Unaudited Financial Statements for the Year Ended 30 November 2024

for

Payne Housing Ltd

Payne Housing Ltd (Registered number: 11663085)






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




Page

Statement of Financial Position 1

Notes to the Financial Statements 3


Payne Housing Ltd (Registered number: 11663085)

Statement of Financial Position
30 November 2024

30.11.24 30.11.23
Notes £    £    £    £   
FIXED ASSETS
Investment property 4 75,000 240,000

CURRENT ASSETS
Cash at bank 13,867 551

CREDITORS
Amounts falling due within one year 5 81,061 180,954
NET CURRENT LIABILITIES (67,194 ) (180,403 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

7,806

59,597

CREDITORS
Amounts falling due after more than
one year

6

(57,381

)

(57,381

)

PROVISIONS FOR LIABILITIES - (426 )
NET (LIABILITIES)/ASSETS (49,575 ) 1,790

CAPITAL AND RESERVES
Called up share capital 8 100 100
Fair value reserve 9 12,386 19,178
Retained earnings (62,061 ) (17,488 )
SHAREHOLDERS' FUNDS (49,575 ) 1,790

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

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

Payne Housing Ltd (Registered number: 11663085)

Statement of Financial Position - continued
30 November 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 director and authorised for issue on 22 July 2025 and were signed by:





Mr M L Payne - Director


Payne Housing Ltd (Registered number: 11663085)

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

1. STATUTORY INFORMATION

Payne Housing Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 11663085

Registered office: 01 Meadlake Place
Thorpe Lea Road
Egham
Surrey
TW20 8HE

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 as modified by the revaluation of certain assets.

Turnover
Turnover represents the fair value of rent received or receivable from the investment properties, excluding discounts, rebates, value added tax and other sales taxes.

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

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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Payne Housing Ltd (Registered number: 11663085)

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

2. ACCOUNTING POLICIES - continued

Going concern
The company has net liabilities of £49,575. The accounts have been prepared on a going concern basis as the director has confirmed that he will continue to provide financial support to the company for the foreseeable future.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - 1 ) .

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 December 2023 240,000
Disposals (157,782 )
Revaluations (7,218 )
At 30 November 2024 75,000
NET BOOK VALUE
At 30 November 2024 75,000
At 30 November 2023 240,000

Investment property situated at 3 Crosby Street, Darlington, DL3 0HD is under a charge from Chl Mortgages for Intermediaries Limited. The charge was created on 23rd June 2022.

Fair value at 30 November 2024 is represented by:
£   
Valuation in 2020 7,385
Valuation in 2021 5,000
Valuation in 2022 7,218
Valuation in 2024 (7,217 )
Cost 62,614
75,000

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.11.24 30.11.23
£    £   
Bank loans and overdrafts - 103,875
Other creditors 81,061 77,079
81,061 180,954

Payne Housing Ltd (Registered number: 11663085)

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

6. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
30.11.24 30.11.23
£    £   
Bank loans 57,381 57,381

Amounts falling due in more than five years:

Repayable otherwise than by instalments
Bank loans more 5 yrs non-inst 57,381 57,381

7. SECURED DEBTS

The following secured debts are included within creditors:

30.11.24 30.11.23
£    £   
Bank loans 57,381 161,256

The loan amounting to £57,381 is secured by the way of charge on the property situated at 3 Crosby Street, Darlington, DL3 0HD (disclosed as investment property). The charge was created in the name of Chl Mortgages for Intermediaries Limited on 23rd June 2022.

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 30.11.24 30.11.23
value: £    £   
100 Ordinary £1 100 100

9. RESERVES
Fair
value
reserve
£   
At 1 December 2023 19,178
Transfer to/from reserves (6,792 )

At 30 November 2024 12,386

10. RELATED PARTY DISCLOSURES

The company owes £81,061 (2023: £77,079) to its director, Mr Michael Lee Payne who is also a 100% shareholder of the company as at accounting year end date.