2021-01-012021-12-312021-12-31false00617788Palmer & Bishop 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Palmer & Bishop Limited

Registered Number
00617788
(England and Wales)

Unaudited Financial Statements for the Year ended
31 December 2021

Palmer & Bishop Limited
Company Information
for the year from 1 January 2021 to 31 December 2021

Directors

PALMER, Abigail Jessica
PALMER, Benjamin
PALMER, Colleen Frances
PALMER, James Charles
PALMER, Justin Charles

Registered Address

19 Market Street
Yeovil
BA20 1HY

Registered Number

00617788 (England and Wales)
Palmer & Bishop Limited
Balance Sheet as at
31 December 2021

Notes

2021

2020

£

£

£

£

Fixed assets
Investments5172,000172,000
172,000172,000
Current assets
Debtors6,8099,543
Cash at bank and on hand45,68431,473
52,49341,016
Creditors amounts falling due within one year8(3,644)(4,224)
Net current assets (liabilities)48,84936,792
Total assets less current liabilities220,849208,792
Net assets220,849208,792
Capital and reserves
Called up share capital500500
Revaluation reserve167,949167,949
Profit and loss account52,40040,343
Shareholders' funds220,849208,792
The financial statements were approved and authorised for issue by the Board of Directors on 6 September 2022, and are signed on its behalf by:
PALMER, Colleen Frances
Director
Registered Company No. 00617788
Palmer & Bishop Limited
Notes to the Financial Statements
for the year ended 31 December 2021

1.Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
2.Compliance with applicable reporting framework
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
3.Accounting policies
Revenue recognition policy
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Investments policy
Investment properties are shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value are recognised in the profit and loss.
4.Employee information

20212020
Average number of employees during the year--
5.Fixed asset investments

Total

£
Cost or valuation
At 01 January 21172,000
At 31 December 21172,000
Net book value
At 31 December 21172,000
At 31 December 20172,000
6.Revaluation of fixed asset investments
The investment properties were valued on an open market basis on 30 September 2020 by Symonds & Sampson LLP. The directors believe them to be the same value at the year end.

2021

2020

££
Investments172,000172,000
7.Debtors within one year

2021

2020

££
Trade debtors / trade receivables6,8099,543
Total6,8099,543
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.
8.Creditors within one year

2021

2020

££
Trade creditors / trade payables816745
Taxation and social security2,8283,479
Total3,6444,224
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.