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Company registration number: 02104515
| UNAUDITED FINANCIAL STATEMENTS
| FOR THE YEAR ENDED 30 JUNE 2025
| PALACE STREET INVESTMENTS LIMITED
PALACE STREET INVESTMENTS LIMITED |  |
COMPANY INFORMATION
Directors | W M Fellows
| J Fellows (appointed 17 June 2025)
Company secretary | W M Fellows
Registered number | 02104515
Registered office | Ashcombe House
| 5 The Crescent
| Leatherhead
| Surrey
| KT22 8DY
Accountants | Menzies LLP
| Chartered Accountants
| Ashcombe House
| 5 The Crescent
| Leatherhead
| Surrey
| KT22 8DY
Bankers | C Hoare & Co
| 37 Fleet Street
| London
| EC4P 4DQ
PALACE STREET INVESTMENTS LIMITED |  |
CONTENTS
| Page
Statement of Financial Position | 1 - 2
Notes to the Financial Statements | 3 - 5
PALACE STREET INVESTMENTS LIMITED REGISTERED NUMBER:02104515 |  |
STATEMENT OF FINANCIAL POSITION AS AT 30 JUNE 2025
|  | 2025 |  | 2024
|  | £ |  | £
Fixed assets |  |  |  |  |
Tangible assets | 4 |  | 3,000,000 |  | 4,180,000
|  |  | 3,000,000 |  | 4,180,000
Current assets |  |  |  |  |
Debtors: amounts falling due within one year | 5 | 1,751 |  | 3,052,560 |
Cash at bank and in hand |  | 65,681 |  | 56,751 |
|  | 67,432 |  | 3,109,311 |
Creditors: amounts falling due within one year | 6 | (274,567) |  | (127,669) |
Net current (liabilities)/assets |  |  | (207,135) |  | 2,981,642
Total assets less current liabilities |  |  | 2,792,865 |  | 7,161,642
Provisions for liabilities |  |  |  |  |
Deferred tax |  | (216,976) |  | (406,753) |
|  |  | (216,976) |  | (406,753)
Net assets |  |  | 2,575,889 |  | 6,754,889
Capital and reserves |  |  |  |  |
Allotted, called up and fully paid share capital |  |  | 10,000 |  | 10,000
Profit and loss account | 7 |  | 2,565,889 |  | 6,744,889
|  |  | 2,575,889 |  | 6,754,889
The directors consider that the company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements. The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities. The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. Page 1
PALACE STREET INVESTMENTS LIMITED REGISTERED NUMBER:02104515 |  |
STATEMENT OF FINANCIAL POSITION (CONTINUED) AS AT 30 JUNE 2025 The company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime. The financial statements were approved and authorised for issue by the board and were signed on its behalf by:
W M Fellows
Director
Date: 11 February 2026
The notes on pages 3 to 5 form part of these financial statements. Page 2
PALACE STREET INVESTMENTS LIMITED |  |
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2025
1. | General information
Palace Street Investments Limited is a private company limited by shares incorporated in England and Wales. The address of the registered office is disclosed on the company information page. The registered office is also the trading address. 2.Accounting policies
| 2.1 | Basis of preparation of financial statements
The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006. The following principal accounting policies have been applied:
| 2.2 | Revenue
Revenue is derived from rent receivable from investment properties and is recognised to the extent that it is probable that the economic benefits will flow to the company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.
| 2.3 | Tangible fixed assets
Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management. Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method. Depreciation is provided on the following basis:
|  |  |  | Plant and machinery | - | 25% | straight line
|  |  |  | Fixtures and fittings | - | 25% | straight line
The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date. Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.
| 2.4 | Investment property
Investment property is carried at fair value determined annually by the director and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in profit or loss. Page 3
PALACE STREET INVESTMENTS LIMITED |  |
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2025 2.Accounting policies (continued)
| 2.5 | Current and deferred taxation
The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively. The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates income. Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that: ∙The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and ∙Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met. Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.
3. | Employees
| The average monthly number of employees, including the director, during the year was 1 (2024 - 1).
4. | Tangible fixed assets
|  | Investment property
|  | £
| Cost or valuation |
| At 1 July 2024 | 4,180,000
| Disposals | (1,010,000)
| Revaluations | (170,000)
| At 30 June 2025 | 3,000,000
| Net book value |
| At 30 June 2025 | 3,000,000
| At 30 June 2024 | 4,180,000
Page 4
PALACE STREET INVESTMENTS LIMITED |  |
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2025 4.Tangible fixed assets (continued)
| Investment properties are stated at a value determined by the director of the company.
5. | Debtors
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Trade debtors | - | 5,581
| Amounts owed by group undertakings | - | 3,045,249
| Other debtors | 755 | 755
| Prepayments and accrued income | 996 | 975
|  | 1,751 | 3,052,560
6. | Creditors: Amounts falling due within one year
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Trade creditors | 4,952 | -
| Corporation tax | 208,268 | 32,208
| Other taxation and social security | 11,875 | 23,585
| Other creditors | 1,379 | 1,068
| Accruals and deferred income | 48,093 | 70,808
|  | 274,567 | 127,669
7. | Reserves
Investment property revaluation reserve Included within the profit and loss account is an undistributable amount of £1,153,839 (2024: £1,293,107) relating to the fair value movement of investment properties in the year after taking into account taxation.
8. | Transactions with the director
At the beginning of the year the company owed the director £312 (2024 - £Nil). During the year the director made payments on behalf of the company of £312 (2024 - £312) and received advances of £Nil (2024 - £Nil). At the end of the year the company owed the director £624 (2024 - £312). No interest has been charged on this balance.
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