REGISTERED NUMBER: 02542553 (England and Wales)

Financial Statements for the Year Ended 31 March 2025

for

3A Palace Green Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

Mrs P L Frost

Dr N Nikbakht

Mr S S Sidawi

SECRETARY:

Carter Backer Winter Trustees Limited

REGISTERED OFFICE:

3a Palace Green

Kensington Palace Gardens

London

W8 4TR

REGISTERED NUMBER:

02542553 (England and Wales)

AUDITOR:

Paul Hartley FCA

Statutory Auditor

PO Box 27075

London

N2 0FZ

FIXED ASSETS

Tangible assets

4

1

1

CURRENT ASSETS

Debtors

5

20

20

Cash at bank

30,123

29,133

30,143

29,153

CREDITORS

Amounts falling due within one year

6

30,123

29,133

NET CURRENT ASSETS

20

20

TOTAL ASSETS LESS CURRENT LIABILITIES

21

21

CAPITAL AND RESERVES

Called up share capital

7

21

21

SHAREHOLDERS' FUNDS

21

21

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 20 November 2025 and were signed on its behalf by:

Dr N Nikbakht - Director

1.	STATUTORY INFORMATION

3A Palace Green Limited 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.

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.

Turnover

Turnover represents ground rent due from residents.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Pensions

The company operates a defined contribution pension scheme for employees engaged in the management of the property. These contributions are invested separately from the company's assets. Pension contributions are charged to the service charge income and expenditure account as incurred

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 11 (2024 - 11 ) .

4.	TANGIBLE FIXED ASSETS

Long

leasehold

£

COST

At 1 April 2024

and 31 March 2025

1

NET BOOK VALUE

At 31 March 2025

1

At 31 March 2024

1

This represents a 99 year lease commencing 6 September 1991 and was assigned for £1 from Regalian Homes Limited. The unencumbered lease is held by the company solicitors. Freehold owners are the Crown Estate Commissioners.

BUILDING INSURANCE

The property is insured with Aviva. The policy number is 100517051CPO and the sum insured, £153,515,763 from 1 October 2024 to 30 September 2025.

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Other debtors

20

20

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Other creditors

30,123

29,133

7.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2025

2024

value:

£

£

1

Ordinary A

1

1

1

20

Ordinary B

1

20

20

21

21

A and B shares carry equal voting rights.

8.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditor was unqualified.

Paul Hartley FCA

9.	SERVICE CHARGE INCOME AND EXPENDITURE ACCOUNT

2025

2024

£

£

SERVICE CHARGES RECEIVABLE

1,549,000

1,452,000

EXPENDITURE

Wages & salary

510,437

522,172

Private medical insurance

14,717

15,448

Pension scheme

36,220

28,054

Uniforms and cleaning

5,872

6,236

Other payments

3,572

3,730

Planned Building & Plant maintenance

59,493

70,743

Air conditioning

12,341

14,993

General repairs & maintenance

64,774

64,442

Lift expenses

18,573

11,829

Security systems & answerphone

1,479

3,160

Maintenance of automatic gate

5,959

4,712

Electricity

112,033

78,027

Gas

59,857

27,209

Garden maintenance

41,022

37,970

Telephone

6,806

6,405

Window and sundry cleaning

5,658

7,422

Refuse removal

282

277

Health and safety testing

6,337

11,472

Satellite television and aerial

0

180

Sundry expenses

34,575

39,104

Water charges

16,004

13,860

Insurances

121,846

129,125

Interest receivable net of tax

(12,728

)

(10,868

)

Legal and professional fees

943

6,303

Audit and accountancy fees

4,560

4,740

Managing agent's fee

20,000

20,000

Crown estate charge

292,955

226,425

Non-annual expenditure

Refurbishment of staff flat

0

24,920

Balcony works

16,700

35,800

Metal railings works

9,000

15,701

Roof terrace

10,560

14,400

Repair fireman's evacuation landings

7,000

0

Standby & backup batteries

8,581

0

Car park lighting

9,553

0

Emergency lighting works

24,820

0

Instal roof lifeline cables

19,319

0

TOTAL EXPENDITURE

1,549,122

1,433,991

Excess of service charges over expendituretransferred to fund for future expenditure

(122

)

18,009

FUND FOR FUTURE EXPENDITURE B/F

877,869

859,860

FUND FOR FUTURE EXPENDITURE C/F

877,747

877,869

10.	SERVICE CHARGE ACCOUNT BALANCE SHEET

2025

2024

£

£

£

£

CURRENT ASSETS

Debtors (Note 13)

107,308

110,966

Cash at Bank and in Hand (Note 14)

1,334,844

1,212,664

1,442,152

1,323,630

CREDITORS (Note 15)

(564,405

)

(445,761

)

NET ASSETS

877,747

859,860

RESERVE FUND FOR FUTURE EXPENDITURE (Note 16)

877,747

859,860

11.

DEBTORS

2025

2024

£

£

Due from company 3A Palace Green Limited

15,939

15,571

Prepayments

91,369

95,395

107,308

110,966

12.	CASH AT BANK AND IN HAND

All service charge monies are required to be held on trust for the residents in accordance with Section 42 of the Landlord and Tenant Act 1987. £1,333,844 was held in a designated trust bank account and £1,000 in cash giving total monies held on trust of £1,334,844 (2024 £1,211,664 in trust bank account and a further £1,000 held in cash giving a total held in trust of £1,212,664)

13.

CREDITORS

2025

2024

£

£

Due to lessees

370,653

350,189

Other creditors

20

20

Operating creditors

24,733

25,027

Accruals

168,999

70,525

564,405

445,761

14.	RESERVE FUNDS FOR FUTURE EXPENDITURE

2025

2024

£

£

Balance brought forward at 1 April 2023

877,869

859,860

Transfer to/(from)

Service charges

(122

)

18,009

Balance carried forward at 31 March 2024

877,747

877,869

These amounts should not be regarded as sum required to meet future costs in

full, but only as a contribution to such costs.