Company No:
Contents
| DIRECTORS | J P Gould |
| J E Prescot | |
| A C Prescot | |
| R J Prescot |
| REGISTERED OFFICE | 22 Chancery Lane |
| London | |
| WC2A 1LS | |
| United Kingdom |
| COMPANY NUMBER | 09353902 (England and Wales) |
| Note | 2025 | 2024 | ||
| £ | £ | |||
| Fixed assets | ||||
| Investments | 3 |
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| 4,734,278 | 3,558,401 | |||
| Current assets | ||||
| Cash at bank and in hand |
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| 193,386 | 258,325 | |||
| Creditors: amounts falling due within one year | 4 | (
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| Net current liabilities | (179,763) | (117,351) | ||
| Total assets less current liabilities | 4,554,515 | 3,441,050 | ||
| Provision for liabilities | 5 | (
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| Net assets |
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| Capital and reserves | ||||
| Called-up share capital |
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| Profit and loss account |
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| Total shareholders' funds |
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Directors' responsibilities:
The financial statements of Pallingham Ltd (registered number:
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J P Gould
Director |
The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.
Pallingham Ltd (the company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the company's registered office is 22 Chancery Lane, London, WC2A 1LS, United Kingdom.
The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.
The financial statements are presented in pounds sterling which is the functional currency of the company and rounded to the nearest £.
The financial statements have been prepared on a going concern basis. The company is being supported financially by the directors and shareholders.
The current 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 taxable income.
Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.
The carrying amount of deferred tax assets is reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.
Investments are recognised initially at fair value which is normally the transaction price excluding transaction costs. Subsequently, they are measured at fair value through profit or loss if the shares are publicly traded or their fair value can otherwise be measured reliably. Other investments are measured at cost less impairment.
Investments are held at fair value, with any unrealised gains or losses being recognised as profit or loss in the current period. Investments are treated as non-current assets on the basis that they are intended to be held for at least 12 months after the balance sheet date. The investments are valued at year end by Caceis Investor Services.
The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).
When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.
| 2025 | 2024 | ||
| Number | Number | ||
| Monthly average number of persons employed by the company during the year, including directors |
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| Other investments | Total | ||
| £ | £ | ||
| Cost or valuation before impairment | |||
| At 01 January 2025 |
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| Additions |
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| Movement in fair value |
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| Foreign exchange movement |
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| At 31 December 2025 |
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| Carrying value at 31 December 2025 |
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| Carrying value at 31 December 2024 |
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| 2025 | 2024 | ||
| £ | £ | ||
| Other creditors |
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| £ | £ | ||
| Deferred tax |
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Transactions with the entity's directors
In July 2017 the company entered into a borrowing facility totalling up to EUR500,000 between the company and some directors and shareholders. At the balance sheet date £260,085/EUR298,000 (2024: £246,345/EUR298,000) had been drawn. Interest is charged at 2.5%. The loan is unsecured, repayable on demand and is included in other creditors.