1 August 2021 false No description of principal activity Taxfiler 2022.8.3 SC445872business:PrivateLimitedCompanyLtd2021-08-012022-07-31 SC4458722021-07-31 SC4458722021-08-012022-07-31 SC445872business:AuditExemptWithAccountantsReport2021-08-012022-07-31 SC445872business:FullAccounts2021-08-012022-07-31 SC4458722022-07-31 SC445872business:Director22021-08-012022-07-31 SC445872business:RegisteredOffice2021-08-012022-07-31 SC4458722021-07-31 SC445872core:WithinOneYear2022-07-31 SC445872core:WithinOneYear2021-07-31 SC445872core:AfterOneYear2022-07-31 SC445872core:AfterOneYear2021-07-31 SC445872core:ShareCapital2022-07-31 SC445872core:ShareCapital2021-07-31 SC445872core:RetainedEarningsAccumulatedLosses2022-07-31 SC445872core:RetainedEarningsAccumulatedLosses2021-07-31 SC445872business:SmallEntities2021-08-012022-07-31 SC445872countries:Scotland2021-08-012022-07-31 SC445872core:FurnitureFittings2021-08-012022-07-31 SC445872core:Goodwill2021-07-31 SC445872core:Goodwill2021-08-012022-07-31 SC445872core:Goodwill2022-07-31 SC445872core:PlantMachinery2021-07-31 SC445872core:PlantMachinery2021-08-012022-07-31 SC445872core:PlantMachinery2022-07-31 SC4458722020-08-012021-07-31 iso4217:GBP xbrli:pure
Company Registration No. SC445872 (Scotland)
Palmtree Inns Ltd Unaudited accounts for the year ended 31 July 2022
Palmtree Inns Ltd Unaudited accounts Contents
Page
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Palmtree Inns Ltd Company Information for the year ended 31 July 2022
Director
Simon Illingworth
Company Number
SC445872 (Scotland)
Registered Office
21 CADZOW PLACE EDINBURGH EH7 5SN
Accountants
Oak Team Associates Limited 272 Bath Street Glasgow G2 4JR
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Palmtree Inns Ltd Statement of financial position as at 31 July 2022
2022 
2021 
Notes
£ 
£ 
Fixed assets
Intangible assets
25,000 
25,000 
Tangible assets
1,674 
2,261 
26,674 
27,261 
Current assets
Inventories
3,692 
4,571 
Debtors
1,207 
1,770 
Cash at bank and in hand
38,167 
39,330 
43,066 
45,671 
Creditors: amounts falling due within one year
(45,180)
(18,075)
Net current (liabilities)/assets
(2,114)
27,596 
Total assets less current liabilities
24,560 
54,857 
Creditors: amounts falling due after more than one year
(40,000)
(50,000)
Net (liabilities)/assets
(15,440)
4,857 
Capital and reserves
Called up share capital
100 
100 
Profit and loss account
(15,540)
4,757 
Shareholders' funds
(15,440)
4,857 
For the year ending 31 July 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 7 September 2022 and were signed on its behalf by
Simon Illingworth Director Company Registration No. SC445872
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Palmtree Inns Ltd Notes to the Accounts for the year ended 31 July 2022
1
Statutory information
Palmtree Inns Ltd is a private company, limited by shares, registered in Scotland, registration number SC445872. The registered office is 21 CADZOW PLACE, EDINBURGH, EH7 5SN.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Fixtures & fittings
20% on a reducing balance basis
Intangible fixed assets
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation.
4
Intangible fixed assets
Goodwill 
£ 
Cost
At 1 August 2021
45,000 
Disposals
(20,000)
At 31 July 2022
25,000 
Amortisation
At 1 August 2021
20,000 
On disposals
(20,000)
At 31 July 2022
- 
Net book value
At 31 July 2022
25,000 
At 31 July 2021
25,000 
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Palmtree Inns Ltd Notes to the Accounts for the year ended 31 July 2022
5
Tangible fixed assets
Plant & machinery 
£ 
Cost or valuation
At cost 
At 1 August 2021
8,647 
Additions
1,428 
At 31 July 2022
10,075 
Depreciation
At 1 August 2021
6,386 
Charge for the year
2,015 
At 31 July 2022
8,401 
Net book value
At 31 July 2022
1,674 
At 31 July 2021
2,261 
6
Debtors: amounts falling due within one year
2022 
2021 
£ 
£ 
Trade debtors
1,207 
666 
Other debtors
- 
1,104 
1,207 
1,770 
7
Creditors: amounts falling due within one year
2022 
2021 
£ 
£ 
VAT
18,855 
5,458 
Trade creditors
16,026 
10,647 
Taxes and social security
10,299 
1,970 
45,180 
18,075 
8
Creditors: amounts falling due after more than one year
2022 
2021 
£ 
£ 
Bank loans
40,000 
50,000 
9
Average number of employees
During the year the average number of employees was 10 (2021: 10).
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