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REGISTERED NUMBER: 09373756
























Unaudited Financial Statements

for the Year Ended 31 January 2023

for

Palm Tree Solutions Limited

Palm Tree Solutions Limited (Registered number: 09373756)






Contents of the Financial Statements
for the Year Ended 31 January 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Palm Tree Solutions Limited

Company Information
for the Year Ended 31 January 2023







DIRECTORS: M J Palmer
Mrs S J Palmer



SECRETARY: Mrs S J Palmer



REGISTERED OFFICE: 1,733 Coventry Road
South Yardley
Birmingham
B26 1DT



REGISTERED NUMBER: 09373756



ACCOUNTANTS: James, Stanley & Co. Limited
1,733 Coventry Road
South Yardley
Birmingham
West Midlands
B26 1DT



BANKERS: Santander UK plc
1,109 Warwick Road
Acocks Green
Birmingham
West Midlands
B27 6RA

Palm Tree Solutions Limited (Registered number: 09373756)

Balance Sheet
31 January 2023

31.1.23 31.1.22
Notes £    £    £    £   
FIXED ASSETS
Property, plant and equipment 5 - 1,065

CURRENT ASSETS
Debtors 6 5,481 26,474
Cash at bank 6,007 7,975
11,488 34,449
CREDITORS
Amounts falling due within one
year

7

21,766

32,216
NET CURRENT (LIABILITIES)/ASSETS (10,278 ) 2,233
TOTAL ASSETS LESS CURRENT
LIABILITIES

(10,278

)

3,298

PROVISIONS FOR LIABILITIES - 266
NET (LIABILITIES)/ASSETS (10,278 ) 3,032

CAPITAL AND RESERVES
Called up share capital 8 100 100
Retained earnings 9 (10,378 ) 2,932
SHAREHOLDERS' FUNDS (10,278 ) 3,032

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 Board of Directors and authorised for issue on 25 October 2023 and were signed on its behalf by:




M J Palmer - Director


Palm Tree Solutions Limited (Registered number: 09373756)

Notes to the Financial Statements
for the Year Ended 31 January 2023

1. STATUTORY INFORMATION

Palm Tree Solutions Limited is a private company, limited by shares, registered in England and Wales. The company's registered number and registered office can be found on the Company Information page.

The company's trading address is 154 Cropthorne Road, Solihull.

The presentation currency of the financial statements is the Pound Sterling (£).

2. STATEMENT OF COMPLIANCE

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. There were no material departures from that standard.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

At the balance sheet date the company had net current liabilities of £10,278, however the directors believe that the company will be able to meet its liabilities as they fall due and therefore feels it appropriate to draw up these financial statements on the going concern basis. These financial statements do not include any adjustments that would result should the company be unable to continue trading.

Turnover
Revenue is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Computer equipment - 33% on cost

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


Palm Tree Solutions Limited (Registered number: 09373756)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2023

3. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Loans from directors
As a small entity the company measures a basic financial liability that are loans from directors at transaction price.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2022 - NIL).

5. PROPERTY, PLANT AND EQUIPMENT
Computer
equipment
£   
COST
At 1 February 2022
and 31 January 2023 3,931
DEPRECIATION
At 1 February 2022 2,866
Charge for year 1,065
At 31 January 2023 3,931
NET BOOK VALUE
At 31 January 2023 -
At 31 January 2022 1,065

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.23 31.1.22
£    £   
Trade debtors 2,220 26,160
Other debtors 2,942 -
Prepayments and accrued income 319 314
5,481 26,474

Palm Tree Solutions Limited (Registered number: 09373756)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2023

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.23 31.1.22
£    £   
Trade creditors 819 638
Tax - 6,831
Social security and other
taxes

151

5,955
Directors' current accounts 18,696 16,692
Accruals and deferred income 2,100 2,100
21,766 32,216

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.1.23 31.1.22
value: £    £   
100 Ordinary £1 100 100

9. RESERVES
Retained
earnings
£   

At 1 February 2022 2,932
Deficit for the year (13,310 )
At 31 January 2023 (10,378 )

10. CAPITAL COMMITMENTS
31.1.23 31.1.22
£    £   
Contracted but not provided for in the
financial statements - -

11. RELATED PARTY DISCLOSURES

In the year under review the company received loans from members of key management personnel and at the balance sheet date the company owed £18,696 in respect of these loans. The loans are unsecured and interest free with no specific repayment terms and are presented within creditors due within one year.