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REGISTERED NUMBER: 12999169 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 NOVEMBER 2024

FOR

PALMWAY PROPERTIES LTD

PALMWAY PROPERTIES LTD (REGISTERED NUMBER: 12999169)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


PALMWAY PROPERTIES LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 30 NOVEMBER 2024







DIRECTOR: H Sternlicht





REGISTERED OFFICE: 127-129 Clapton Common
London
E5 9AB





REGISTERED NUMBER: 12999169 (England and Wales)





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

PALMWAY PROPERTIES LTD (REGISTERED NUMBER: 12999169)

BALANCE SHEET
30 NOVEMBER 2024

30.11.24 30.11.23
Notes £    £   
FIXED ASSETS
Investment property 4 1,573,975 1,350,000

CURRENT ASSETS
Debtors 5 148,200 129,700
Cash at bank 1,207 1,424
149,407 131,124
CREDITORS
Amounts falling due within one year 6 (632,280 ) (49,648 )
NET CURRENT (LIABILITIES)/ASSETS (482,873 ) 81,476
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,091,102

1,431,476

CREDITORS
Amounts falling due after more than one
year

7

(725,013

)

(1,089,116

)

PROVISIONS FOR LIABILITIES (71,412 ) (71,412 )
NET ASSETS 294,677 270,948

CAPITAL AND RESERVES
Called up share capital 8 1 1
Revaluation reserve 9 304,442 304,442
Retained earnings (9,766 ) (33,495 )
SHAREHOLDERS' FUNDS 294,677 270,948

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.

PALMWAY PROPERTIES LTD (REGISTERED NUMBER: 12999169)

BALANCE SHEET - 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 26 August 2025 and were signed by:





H Sternlicht - Director


PALMWAY PROPERTIES LTD (REGISTERED NUMBER: 12999169)

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

1. STATUTORY INFORMATION

PALMWAY PROPERTIES 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. 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 is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

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.

3. EMPLOYEES AND DIRECTORS

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

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 December 2023 1,350,000
Additions 223,975
At 30 November 2024 1,573,975
NET BOOK VALUE
At 30 November 2024 1,573,975
At 30 November 2023 1,350,000

Fair value at 30 November 2024 is represented by:
£   
Valuation in 2023 1,350,000
Valuation in 2024 223,975
1,573,975

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.11.24 30.11.23
£    £   
Other debtors 148,200 129,700

PALMWAY PROPERTIES LTD (REGISTERED NUMBER: 12999169)

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

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.11.24 30.11.23
£    £   
Other creditors 632,280 49,648

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30.11.24 30.11.23
£    £   
Bank loans 725,013 1,089,116

Amounts falling due in more than five years:

Repayable otherwise than by instalments
Bank loans more 5 yrs non-inst 725,013 -

Repayable by instalments
Bank loans more 5 yr by instal - 1,089,116

8. CALLED UP SHARE CAPITAL

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

9. RESERVES
Revaluation
reserve
£   
At 1 December 2023
and 30 November 2024 304,442

10. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is H Sternlicht.