REGISTERED NUMBER: 13332345 (England and Wales)

Unaudited Financial Statements

for the Year Ended 30 September 2025

for

PALG Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

Directors:

P D Underwood

Mrs A Underwood

Registered office:

10 The Southend

Ledbury

Herefordshire

HR8 2EY

Registered number:

13332345 (England and Wales)

Accountants:

Crowthers Chartered Accountants

10 The Southend

Ledbury

Herefordshire

HR8 2EY

FIXED ASSETS

Investment property

4

185,000

392,500

CURRENT ASSETS

Cash at bank

4,684

179

CREDITORS

Amounts falling due within one year

5

130,397

145,478

NET CURRENT LIABILITIES

(125,713

)

(145,299

)

TOTAL ASSETS LESS CURRENT LIABILITIES

59,287

247,201

CREDITORS

Amounts falling due after more than one year

6

(65,007

)

(228,680

)

PROVISIONS FOR LIABILITIES

-

(3,500

)

NET (LIABILITIES)/ASSETS

(5,720

)

15,021

CAPITAL AND RESERVES

Called up share capital

7

100

100

Revaluation reserve

8

15,687

51,850

Retained earnings

(21,507

)

(36,929

)

SHAREHOLDERS' FUNDS

(5,720

)

15,021

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2025 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 1 June 2026 and were signed on its behalf by:

P D Underwood - Director

Mrs A Underwood - Director

1.	STATUTORY INFORMATION

PALG 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.

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.

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 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 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.

Going concern

The financial statements have been prepared on a going concern basis as the directors intend to continue to support the company.

The directors believe that with their support, this company is well placed to manage its financing and other business risks satisfactorily, and there is a reasonable expectation that the company will have adequate resources to continue in operation for at least 12 months. They therefore consider it appropriate to adopt the going concern basis of accounting in preparing the financial statements.

The financial statements do not include any adjustments that would result from the withdrawal of the directors support.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2024 - NIL).

4.	INVESTMENT PROPERTY

Total

£

Fair value

At 1 October 2024

392,500

Disposals

(195,000

)

Revaluations

(12,500

)

At 30 September 2025

185,000

Net book value

At 30 September 2025

185,000

At 30 September 2024

392,500

Fair value at 30 September 2025 is represented by:

£

Valuation in 2023

28,187

Valuation in 2025

(12,500

)

Cost

169,313

185,000

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

2025

2024

£

£

Cost

169,313

340,650

Aggregate depreciation

(20,319

)

(20,399

)

Investment property was valued on an open market basis on 30 September 2025 by the Directors .

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Inter-company loan

84,000

85,000

Directors' current accounts

44,417

58,617

Accrued expenses

1,980

1,861

130,397

145,478

6.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2025

2024

£

£

Mortgage

65,007

228,680

7.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2025

2024

value:

£

£

100

Ordinary

£1

100

100

8.

RESERVES

Revaluation

reserve

£

At 1 October 2024

51,850

Increase in valuation

(12,500

)

Transfer

(23,663

)

At 30 September 2025

15,687

9.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

Included in creditors is £44,417 (2024: £58,617) owed to the directors. The loan is interest free, repayable on demand and is unsecured.

10.	RELATED PARTY DISCLOSURES

Cadster House Consulting Ltd ( an associated company of PALG Limited) has an inter-company loan, where the balance owing from PALG Limited to Cadster House Consulting Limited is £84,000 (2024: £85,000).