El Palo Holdings Limited
Registered number: 08417750
Balance Sheet
as at 30 June 2023
Notes 2023 2022
£ £
Current assets
Debtors 3 1,547,589 1,711,529
Cash at bank and in hand 122,286 339,108
1,669,875 2,050,637
Creditors: amounts falling due within one year 4 (41,069) (160,307)
Net current assets 1,628,806 1,890,330
Total assets less current liabilities 1,628,806 1,890,330
Net assets 1,628,806 1,890,330
Capital and reserves
Called up share capital 315 315
Profit and loss account 1,628,491 1,890,015
Shareholders' funds 1,628,806 1,890,330
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Dr V Gradillas Gonzalez
Director
Approved by the board on 28 February 2024
El Palo Holdings Limited
Notes to the Accounts
for the year ended 30 June 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the rendering of services and is recognised when the service is performed.
Debtors
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.
Creditors
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.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 4 2
3 Debtors 2023 2022
£ £
Trade debtors 1,250 3,400
Other debtors 1,546,339 1,708,129
1,547,589 1,711,529
4 Creditors: amounts falling due within one year 2023 2022
£ £
Trade creditors 102 90
Taxation and social security costs 39,467 159,117
Other creditors 1,500 1,100
41,069 160,307
5 Loans to directors
Description and conditions B/fwd Paid Repaid C/fwd
£ £ £ £
L Gradillas 465,649 24 - 465,673
V Gradillas Gonzalez 465,649 24 - 465,673
931,298 48 - 931,346
Interest has been charged on the loan at the HMRC approved rate for beneficial loans.
6 Controlling party
The ultimate controlling parties are V Gradillas and L Gradillas, owners of the entire share capital of the company.
7 Other information
El Palo Holdings Limited is a private company limited by shares and incorporated in England. Its registered office is:
9 Park Place
Newdigate Road
Harefield
Middlesex
UB9 6EJ
El Palo Holdings Limited 08417750 false 2022-07-01 2023-06-30 2023-06-30 VT Final Accounts October 2023 release 2 Dr V Gradillas Gonzalez No description of principal activity 08417750 2021-01-01 2022-06-30 08417750 core:WithinOneYear 2022-06-30 08417750 core:ShareCapital 2022-06-30 08417750 core:RetainedEarningsAccumulatedLosses 2022-06-30 08417750 2022-07-01 2023-06-30 08417750 bus:PrivateLimitedCompanyLtd 2022-07-01 2023-06-30 08417750 bus:AuditExemptWithAccountantsReport 2022-07-01 2023-06-30 08417750 bus:Director40 2022-07-01 2023-06-30 08417750 1 2022-07-01 2023-06-30 08417750 2 2022-07-01 2023-06-30 08417750 bus:Director1 2022-07-01 2023-06-30 08417750 bus:Director1 1 2022-07-01 2023-06-30 08417750 bus:Director2 2022-07-01 2023-06-30 08417750 bus:Director2 1 2022-07-01 2023-06-30 08417750 countries:England 2022-07-01 2023-06-30 08417750 bus:FRS102 2022-07-01 2023-06-30 08417750 bus:FullAccounts 2022-07-01 2023-06-30 08417750 2023-06-30 08417750 core:WithinOneYear 2023-06-30 08417750 core:ShareCapital 2023-06-30 08417750 core:RetainedEarningsAccumulatedLosses 2023-06-30 08417750 bus:Director1 1 2023-06-30 08417750 bus:Director2 1 2023-06-30 08417750 2022-06-30 08417750 bus:Director1 1 2022-06-30 08417750 bus:Director2 1 2022-06-30 iso4217:GBP xbrli:pure