REGISTERED NUMBER: 15852010 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE PERIOD 24TH JULY 2024 TO 31ST JULY 2025

FOR

PALLETT LETS LTD

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

L A J Pallett

REGISTERED OFFICE:

1st Floor

49 High Street

Hucknall

Nottinghamshire

NG15 7AW

REGISTERED NUMBER:

15852010 (England and Wales)

ACCOUNTANTS:

Elkingtons Accountants Limited

1st Floor

49 High Street

Hucknall

Nottinghamshire

NG15 7AW

FIXED ASSETS

Investment property

4

230,000

CURRENT ASSETS

Debtors

300

Cash at bank

1,986

2,286

CREDITORS

Amounts falling due within one year

178,107

NET CURRENT LIABILITIES

(175,821

)

TOTAL ASSETS LESS CURRENT LIABILITIES

54,179

PROVISIONS FOR LIABILITIES

12,123

NET ASSETS

42,056

CAPITAL AND RESERVES

Called up share capital

30

Revaluation reserve

6

51,683

Retained earnings

(9,657

)

42,056

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 31st July 2025.

The members have not required the company to obtain an audit of its financial statements for the period ended 31st July 2025 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.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

All the members have consented to the preparation of an abridged Balance Sheet for the period ended 31st July 2025 in accordance with Section 444(2A) of the Companies Act 2006.

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 21st April 2026 and were signed by:

L A J Pallett - Director

1.	STATUTORY INFORMATION

Pallett Lets 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. Turnover from the letting of property is recognised by reference to the period for which it relates.

Investment property

Investment properties are those properties held to earn rentals or for capital appreciation or both. All properties are included at fair value. Gains are recognised in the income statement. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.

Taxation

Taxation for the period 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 balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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 period 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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the period was 1 .

4.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

Additions

166,194

Revaluations

63,806

At 31st July 2025

230,000

NET BOOK VALUE

At 31st July 2025

230,000

Fair value at 31st July 2025 is represented by:

£

Valuation in 2025

63,806

Cost

166,194

230,000

If the investment property had not been revalued it would have been included at the following historical cost:

£

Cost

166,194

Aggregate depreciation

(707

)

The investment property was valued on an open market basis basis on 5th March 2025 by Allied Surveyors .

5.	SECURED DEBTS

The following secured debts are included within creditors:

£

Bank loans

92,092

A floating charge and negative pledge was signed and lodged against the freehold property to secure all liabilities to Together Commercial Finance Ltd.

6.

RESERVES

Revaluation

reserve

£

Non-distributable reserves

51,683

At 31st July 2025

51,683

7.	RELATED PARTY DISCLOSURES

During the year the company borrowed money from a connected company, of which a director holds a participating interest. The loan is on an interest free basis, with the balance outstanding being repayable upon demand. The balance outstanding at the year end date was £13,655