| Pall Mall Brokers Limited |
| Accountants' Report |
|
|
| Accountants' report to the directors of |
| Pall Mall Brokers Limited |
|
| You consider that the company is exempt from an audit for the year ended 30 April 2026. You have acknowledged, on the balance sheet, your responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. These responsibilities include preparing accounts that give a true and fair view of the state of affairs of the company at the end of the financial year and of its profit or loss for the financial year. |
| In accordance with your instructions, we have prepared the accounts which comprise the Profit and Loss Account, the Statement of Comprehensive Income, the Balance Sheet, the Statement of Changes in Equity and the related notes from the accounting records of the company and on the basis of information and explanations you have given to us. |
| We have not carried out an audit or any other review, and consequently we do not express any opinion on these accounts. |
|
| McGrath and Company, |
| Chartered Certified Accountants, |
| First Floor, 1 Park Court, |
| Pyrford Road, |
| West Byfleet, |
| Surrey, |
| KT14 6SD. |
|
| 9 July 2026 |
|
| Pall Mall Brokers Limited |
| Registered number: |
06033426 |
| Balance Sheet |
| as at 30 April 2026 |
|
| Notes |
|
|
2026 |
|
|
2025 |
| £ |
£ |
| Fixed assets |
| Tangible assets |
3 |
|
|
3,025 |
|
|
4,397 |
|
| Current assets |
| Debtors |
4 |
|
4,806,198 |
|
|
4,331,279 |
| Cash at bank and in hand |
|
|
5,516 |
|
|
16,924 |
|
|
|
4,811,714 |
|
|
4,348,203 |
|
| Creditors: amounts falling due within one year |
5 |
|
(2,210,242) |
|
|
(1,855,313) |
|
| Net current assets |
|
|
|
2,601,472 |
|
|
2,492,890 |
|
| Total assets less current liabilities |
|
|
|
2,604,497 |
|
|
2,497,287 |
|
| Creditors: amounts falling due after more than one year |
6 |
|
|
(919,484) |
|
|
(1,010,899) |
|
|
|
| Net assets |
|
|
|
1,685,013 |
|
|
1,486,388 |
|
|
|
|
|
|
|
|
| Capital and reserves |
| Called up share capital |
|
|
|
190 |
|
|
190 |
| Profit and loss account |
|
|
|
1,684,823 |
|
|
1,486,198 |
|
| Shareholders' funds |
|
|
|
1,685,013 |
|
|
1,486,388 |
|
|
|
|
|
|
|
|
| The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006. |
| The members have not required the company to obtain an audit in accordance with section 476 of the Act. |
| The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. |
| The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies. |
|
|
|
|
| Ms. P A Debney |
| Director |
| Approved by the board on 9 July 2026 |
|
| Pall Mall Brokers Limited |
| Notes to the Accounts |
| for the year ended 30 April 2026 |
|
| 1 |
Accounting policies |
|
|
Basis of preparation |
|
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard). |
|
|
Turnover |
|
Income from finance lease agreements and hire purchase agreements is recognised over the primary period of the lease on a straight line basis. |
|
|
Tangible fixed assets |
|
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows: |
|
|
Plant and machinery |
50% straight line |
|
Leasehold Improvements |
50% straight line |
|
|
Debtors |
|
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts. |
|
|
Creditors |
|
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method. |
|
Taxation |
|
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted. |
|
|
Leasing and hire purchase commitments |
|
Finance lease agreements and hire purchase contracts are accounted for on the basis of gross receivables less unearned income and are included in debtors. |
|
|
|
|
| 2 |
Employees |
2026 |
|
2025 |
| Number |
Number |
|
|
Average number of persons employed by the company |
4 |
|
3 |
|
|
|
|
|
|
|
|
|
| 3 |
Tangible fixed assets |
|
|
|
Leasehold buildings |
|
Plant and machinery etc |
|
Total |
| £ |
£ |
£ |
|
Cost |
|
At 1 May 2025 |
25,098 |
|
21,513 |
|
46,611 |
|
Additions |
- |
|
1,393 |
|
1,393 |
|
Disposals |
- |
|
(2,786) |
|
(2,786) |
|
At 30 April 2026 |
25,098 |
|
20,120 |
|
45,218 |
|
|
|
|
|
|
|
|
|
Depreciation |
|
At 1 May 2025 |
25,098 |
|
17,116 |
|
42,214 |
|
Charge for the year |
- |
|
2,765 |
|
2,765 |
|
On disposals |
- |
|
(2,786) |
|
(2,786) |
|
At 30 April 2026 |
25,098 |
|
17,095 |
|
42,193 |
|
|
|
|
|
|
|
|
|
Net book value |
|
At 30 April 2026 |
- |
|
3,025 |
|
3,025 |
|
At 30 April 2025 |
- |
|
4,397 |
|
4,397 |
|
|
| 4 |
Debtors |
2026 |
|
2025 |
| £ |
£ |
|
|
Debtors due under finance leases |
- |
|
- |
|
Debtors due under hire purchase |
4,796,733 |
|
4,316,550 |
|
Other debtors |
9,465 |
|
14,729 |
|
|
|
|
|
4,806,198 |
|
4,331,279 |
|
|
|
|
|
|
|
|
|
Amounts due after more than one year included above |
2,524,729 |
|
2,254,566 |
|
|
|
|
|
|
|
|
|
|
| 5 |
Creditors: amounts falling due within one year |
2026 |
|
2025 |
| £ |
£ |
|
|
Bank loans and overdrafts |
- |
|
- |
|
Sundry loans |
1,039,500 |
|
925,000 |
|
Block discounting creditors |
454,215 |
|
209,067 |
|
Other taxes and social security costs |
90,785 |
|
90,812 |
|
Loans from Debney Partnership |
620,000 |
|
620,000 |
|
Other creditors |
5,742 |
|
10,434 |
|
|
|
|
|
2,210,242 |
|
1,855,313 |
|
|
|
|
|
|
|
|
|
The block discounting creditors are secured by a charge over leasing and hire purchase agreements. |
|
|
| 6 |
Creditors: amounts falling due after one year |
2026 |
|
2025 |
| £ |
£ |
|
|
Redeemable preference shares |
450,000 |
|
450,000 |
|
Sundry loans |
330,000 |
|
450,000 |
|
Block discounting creditors |
139,484 |
|
110,899 |
|
|
|
|
|
919,484 |
|
1,010,899 |
|
|
|
|
|
|
|
|
|
| 7 |
Secured Loans |
2026 |
|
2025 |
| £ |
£ |
|
Creditors include: |
|
|
Loans from Debney Partnership |
620,000 |
|
620,000 |
|
|
|
|
|
|
|
|
|
The loans from Debney Partnership are secured by debenture over the assets of the company. |
|
|
| 8 |
Share Capital |
Nominal |
2026 |
|
2026 |
|
2025 |
| Value |
Number |
£ |
£ |
|
Allotted, called up and fully paid: |
|
Ordinary shares |
£1 each |
190 |
|
190 |
|
190 |
|
Preference shares |
£1 each |
450,000 |
|
450,000 |
|
450,000 |
|
|
|
|
|
|
450,190 |
|
450,190 |
|
|
|
|
|
|
|
|
|
The Preference Shares are redeemable at the discretion of the shareholders, on giving 24 months written notice to the company of their intention to redeem the shares. There is an annual dividend rate of 5% attached to the shares which is cumulative. |
|
|
| 9 |
Contingent liabilities |
|
|
Charges have been given to Renaissance Asset Finance Limited for all monies due or to become due on specific agreements deposited with the relevant institutions and the underlying assets (the subject matter of the agreements) by the company. |
|
A debenture has been given to Debney Partnership in respect of it's indebtedness. |
|
|
| 10 |
Related party transactions |
|
|
A) The bank overdraft facilities are personally guaranteed by Ms. P Debney and Mrs. J A Debney. |
|
B) The block discounting facilities are personally guaranteed by Ms. P Debney and Mrs. J A Debney. |
|
|
|
| 11 |
Controlling party |
|
|
The company is controlled by the directors. |
|
|
| 12 |
Other information |
|
|
Pall Mall Brokers Limited is a private company limited by shares and incorporated in England. Its registered office is: |
|
Farrs Cottage, |
|
High Street, |
|
Ripley, |
|
Surrey, |
|
GU23 6WD. |