Palmpath Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 04133442 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2020

FOR

PALMPATH LTD

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

DIRECTOR:

Mrs L Rosenberg

SECRETARY:

Mrs L Rosenberg

REGISTERED OFFICE:

99 Clapton Common

London

E5 9AB

REGISTERED NUMBER:

04133442 (England and Wales)

ACCOUNTANTS:

Venitt and Greaves

Chartered Accountants

115 Craven Park Road

South Tottenham

London

N15 6BL

FIXED ASSETS

Tangible assets

4

567

667

Investment property

5

183,404

183,404

183,971

184,071

CURRENT ASSETS

Cash at bank

-

1,861

CREDITORS

Amounts falling due within one year

6

(74,163

)

(79,990

)

NET CURRENT LIABILITIES

(74,163

)

(78,129

)

TOTAL ASSETS LESS CURRENT LIABILITIES

109,808

105,942

CREDITORS

Amounts falling due after more than one year

7

(43,366

)

(47,400

)

NET ASSETS

66,442

58,542

CAPITAL AND RESERVES

Called up share capital

9

100

100

Retained earnings

10

66,342

58,442

SHAREHOLDERS' FUNDS

66,442

58,542

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2020 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her 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 director and authorised for issue on 21 September 2021 and were signed by:

Mrs L Rosenberg - Director

1.	STATUTORY INFORMATION

Palmpath 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.

Turnover

Turnover represents net rent receivable, excluding value added tax.

Tangible fixed assets

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

Fixtures and fittings

-

15% on reducing balance

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2019 - NIL).

4.	TANGIBLE FIXED ASSETS

Fixtures

and

fittings

£

COST

At 1 January 2020

and 31 December 2020

6,551

DEPRECIATION

At 1 January 2020

5,884

Charge for year

100

At 31 December 2020

5,984

NET BOOK VALUE

At 31 December 2020

567

At 31 December 2019

667

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 January 2020

and 31 December 2020

183,404

NET BOOK VALUE

At 31 December 2020

183,404

At 31 December 2019

183,404

The director has confirmed that there is no significant increase or decrease in the property.

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.20

31.12.19

£

£

Other creditors

69,980

77,382

Directors' current accounts

1,568

473

Accrued expenses

2,615

2,135

74,163

79,990

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.12.20

31.12.19

£

£

Bank loans more 5 yrs non-inst

43,366

47,400

Amounts falling due in more than five years:

Repayable otherwise than by instalments

Bank loans more 5 yrs non-inst

43,366

47,400

8.	SECURED DEBTS

The following secured debts are included within creditors:

31.12.20

31.12.19

£

£

Bank loans

43,366

47,400

Long term bank loan is secured by first charge over the company's investment property and bear interest at variable rates.

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.12.20

31.12.19

value:

£

£

100

Ordinary

£1

100

100

10.

RESERVES

Retained

earnings

£

At 1 January 2020

58,442

Profit for the year

7,900

At 31 December 2020

66,342

11.	CONTROLLING PARTY

The controlling party is Mrs L Rosenberg.