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REGISTERED NUMBER: 02940056 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 July 2023

for

Palmer Construction Limited

Palmer Construction Limited (Registered number: 02940056)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Palmer Construction Limited

Company Information
for the Year Ended 31 July 2023







DIRECTORS: Mr S L Dennis
Mr S Wheatley
Mr S A Guthrie
Mr S Rhodes
Mr A Clamp
Mr M J Ibbotson





SECRETARY: Mr S Wheatley





REGISTERED OFFICE: Synergy House
124 Pontefract Road
Barnsley
S71 1JA





REGISTERED NUMBER: 02940056 (England and Wales)





ACCOUNTANTS: Harris & Co Limited
Chartered Accountants
Marland House
13 Huddersfield Road
Barnsley
South Yorkshire
S70 2LW

Palmer Construction Limited (Registered number: 02940056)

Balance Sheet
31 July 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 317,876 291,985

CURRENT ASSETS
Stocks 467,000 631,261
Debtors 6 1,600,597 1,832,417
Cash at bank 1,573,234 1,341,275
3,640,831 3,804,953
CREDITORS
Amounts falling due within one year 7 2,726,241 2,836,537
NET CURRENT ASSETS 914,590 968,416
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,232,466

1,260,401

CREDITORS
Amounts falling due after more than one
year

8

(91,667

)

(141,667

)

PROVISIONS FOR LIABILITIES (72,849 ) (71,924 )
NET ASSETS 1,067,950 1,046,810

CAPITAL AND RESERVES
Called up share capital 10 4,950 4,950
Capital redemption reserve 5,050 5,050
Retained earnings 1,057,950 1,036,810
SHAREHOLDERS' FUNDS 1,067,950 1,046,810

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

The members have not required the Company to obtain an audit of its financial statements for the year ended 31 July 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.

Palmer Construction Limited (Registered number: 02940056)

Balance Sheet - continued
31 July 2023


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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 19 March 2024 and were signed on its behalf by:





Mr S L Dennis - Director


Palmer Construction Limited (Registered number: 02940056)

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

1. STATUTORY INFORMATION

Palmer Construction Limited 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 and functional 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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared on a going concern basis under the historical cost convention.

Significant judgements and estimates
The principal accounting policies and significant judgements and estimates applied in the preparation of these financial statements are set out below. These policies, judgements and estimates have been consistently applied to all years presented unless otherwise stated.

Turnover
Turnover represents amounts earned on goods and services provided during the year and derives from the provision of goods and services falling within the company's ordinary activities.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Long leasehold - 2% on cost straight line
Fixtures and fittings - 10% on reducing balance
Motor vehicles - Between 20% & 25% on cost straight line
Computer equipment - 33% on reducing balance

All fixed assets are initially recorded at cost.

Stocks
Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.


Palmer Construction Limited (Registered number: 02940056)

Notes to the Financial Statements - continued
for the Year Ended 31 July 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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 26 (2022 - 26 ) .

5. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 August 2022 21,449 880,281 901,730
Additions - 93,918 93,918
At 31 July 2023 21,449 974,199 995,648
DEPRECIATION
At 1 August 2022 4,733 605,012 609,745
Charge for year 429 67,598 68,027
At 31 July 2023 5,162 672,610 677,772
NET BOOK VALUE
At 31 July 2023 16,287 301,589 317,876
At 31 July 2022 16,716 275,269 291,985

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 1,576,984 1,819,681
Other debtors 23,613 12,736
1,600,597 1,832,417

Palmer Construction Limited (Registered number: 02940056)

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

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 50,000 50,000
Trade creditors 2,160,866 2,323,889
Taxation and social security 404,056 356,012
Other creditors 111,319 106,636
2,726,241 2,836,537

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans 91,667 141,667

9. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2023 2022
£    £   
Within one year 31,278 36,968
Between one and five years 31,289 41,972
62,567 78,940

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
4,950 Ordinary £1 4,950 4,950

11. ULTIMATE CONTROLLING PARTY

The controlling party is Synergy Holdings (Yorkshire)Limited.