REGISTERED NUMBER: 02805489 (England and Wales)

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST DECEMBER 2024

FOR

10 PALACE GATE LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

A C Mackintosh

A C Shen

SECRETARY:

Rendall and Rittner Limited

REGISTERED OFFICE:

c/o Rendall and Rittner Limited

13B St George Wharf

London

SW8 2LE

REGISTERED NUMBER:

02805489 (England and Wales)

ACCOUNTANTS:

Sproull & Co.

Chartered Accountants

First Floor, Jebsen House

53-61 High Street

Ruislip

Middlesex

HA4 7BD

FIXED ASSETS

Tangible assets

4

42,472

43,155

CURRENT ASSETS

Debtors

5

21,353

21,111

Cash at bank

61,975

51,952

83,328

73,063

CREDITORS

Amounts falling due within one year

6

61,652

61,574

NET CURRENT ASSETS

21,676

11,489

TOTAL ASSETS LESS CURRENT LIABILITIES

64,148

54,644

CAPITAL AND RESERVES

Called up share capital

24

24

Retained earnings

64,124

54,620

SHAREHOLDERS' FUNDS

64,148

54,644

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st December 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.

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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 18th December 2025 and were signed on its behalf by:

A C Mackintosh - Director

A C Shen - Director

1.	STATUTORY INFORMATION

10 Palace Gate Limited 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.

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.

Turnover

Turnover represents ground rents recoverable during the year.

Tangible fixed assets

Land and buildings are shown at cost less any accumulated depreciation and any accumulated impairment losses.

Land and buildings are depreciated over their estimated useful economic life after taking the residual value of the assets into consideration. The directors consider the residual value of the company's land and buildings to be in excess of the original cost and consequently no depreciation is provided.

The residual value of the company's assets and whether the value has been impaired are considered by the directors on an annual basis.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2023 - 3 ) .

4.	TANGIBLE FIXED ASSETS

Land and

buildings

£

COST

At 1st January 2024

43,155

Disposals

(683

)

At 31st December 2024

42,472

NET BOOK VALUE

At 31st December 2024

42,472

At 31st December 2023

43,155

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade debtors

45

213

Other debtors

21,308

20,898

21,353

21,111

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade creditors

9

9

Due to 10 Palace Gate service charge fund

822

1,515

Other creditors

37

284

Loans from members

58,645

58,644

Accrued expenses

2,139

1,122

61,652

61,574

Loans were advanced to the company from members to purchase the freehold for 10 Palace Gate, London W8. The loans are interest free and repayable on demand.