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Company No: 14470039 (England and Wales)

PALM COURT CARE (HOLDINGS) LIMITED

Unaudited Financial Statements
For the financial period from 08 November 2022 to 31 March 2024
Pages for filing with the registrar

PALM COURT CARE (HOLDINGS) LIMITED

Unaudited Financial Statements

For the financial period from 08 November 2022 to 31 March 2024

Contents

PALM COURT CARE (HOLDINGS) LIMITED

STATEMENT OF FINANCIAL POSITION

As at 31 March 2024
PALM COURT CARE (HOLDINGS) LIMITED

STATEMENT OF FINANCIAL POSITION (continued)

As at 31 March 2024
Note 31.03.2024
£
Fixed assets
Investments 3 1,100
1,100
Current assets
Debtors 4 16,160
16,160
Creditors: amounts falling due within one year 5 ( 10,688)
Net current assets 5,472
Total assets less current liabilities 6,572
Net assets 6,572
Capital and reserves
Called-up share capital 6 100
Profit and loss account 6,472
Total shareholders' funds 6,572

For the financial period ending 31 March 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of Palm Court Care (Holdings) Limited (registered number: 14470039) were approved and authorised for issue by the Board of Directors on 07 August 2024. They were signed on its behalf by:

Martin Mansukhani
Director
PALM COURT CARE (HOLDINGS) LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial period from 08 November 2022 to 31 March 2024
PALM COURT CARE (HOLDINGS) LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial period from 08 November 2022 to 31 March 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial period, unless otherwise stated.

General information and basis of accounting

Palm Court Care (Holdings) Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is 2nd Floor Stratus House Emperor Way, Exeter Business Park, Exeter, EX1 3QS, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The directors have assessed the Statement of Financial Position and likely future cash flows at the date of approving these financial statements. The directors note that the business has net assets of £6,572. The Company is supported through loans from the directors. The directors have confirmed that the loan facilities will continue to be available for at least 12 months from the date of signing these financial statements and the directors will continue to support the Company. Given the current position, the directors believe that any foreseeable debts can be met for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Group accounts exemption

Group accounts exemption s399
The Company has taken advantage of the exemption under section 399 of the Companies Act 2006 not to prepare consolidated accounts, on the basis that the group of which this is the parent qualifies as a small group. The financial statements present information about the Company as an individual entity and not about its group.

Reporting period length

The reporting period is a long period from 8 November 2022 to the 31 March 2024 during the year of incorporation.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Statement of Financial Position date.

Fixed asset investments

Investments in subsidiaries are measured at cost less impairment.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Ordinary share capital

The ordinary share capital of the Company is presented as equity.

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

2. Employees

Period from
08.11.2022 to
31.03.2024
Number
Monthly average number of persons employed by the Company during the period, including directors 2

3. Fixed asset investments

Investments in subsidiaries

31.03.2024
£
Cost
At 08 November 2022 0
Additions 1,100
At 31 March 2024 1,100
Carrying value at 31 March 2024 1,100

4. Debtors

31.03.2024
£
Amounts owed by Group undertakings 16,160

5. Creditors: amounts falling due within one year

31.03.2024
£
Amounts owed to Group undertakings 2,604
Amounts owed to directors 5,454
Accruals 1,630
Other creditors 1,000
10,688

6. Called-up share capital

31.03.2024
£
Allotted, called-up and fully-paid
80 Ordinary A shares of £ 1.00 each 80
20 Ordinary B shares of £ 1.00 each 20
100

7. Related party transactions

Transactions with the entity's directors

31.03.2024
£
Amounts owed to directors' 5,454

Interest has not been charged on the directors' loan accounts. There are no fixed dates for repayment.