Company Registration No. SC445872 (Scotland)
Palmtree Inns Ltd
Unaudited accounts
for the year ended 31 July 2022
Palmtree Inns Ltd
Unaudited accounts
Contents
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
Palmtree Inns Ltd
Statement of financial position
as at 31 July 2022
Intangible assets
25,000
25,000
Tangible assets
1,674
2,261
Cash at bank and in hand
38,167
39,330
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
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
Palmtree Inns Ltd
Notes to the Accounts
for the year ended 31 July 2022
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.
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.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
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 (including purchased goodwill and patents) are included at cost less accumulated amortisation.
4
Intangible fixed assets
Goodwill
Palmtree Inns Ltd
Notes to the Accounts
for the year ended 31 July 2022
5
Tangible fixed assets
Plant & machinery
6
Debtors: amounts falling due within one year
2022
2021
7
Creditors: amounts falling due within one year
2022
2021
Trade creditors
16,026
10,647
Taxes and social security
10,299
1,970
8
Creditors: amounts falling due after more than one year
2022
2021
9
Average number of employees
During the year the average number of employees was 10 (2021: 10).