Company No:
Contents
Note | 31.03.2024 | |
£ | ||
Fixed assets | ||
Investments | 3 |
|
1,100 | ||
Current assets | ||
Debtors | 4 |
|
16,160 | ||
Creditors: amounts falling due within one year | 5 | (
|
Net current assets | 5,472 | |
Total assets less current liabilities | 6,572 | |
Net assets |
|
|
Capital and reserves | ||
Called-up share capital | 6 |
|
Profit and loss account |
|
|
Total shareholders' funds |
|
Directors' responsibilities:
The financial statements of Palm Court Care (Holdings) Limited (registered number:
Martin Mansukhani
Director |
The principal accounting policies are summarised below. They have all been applied consistently throughout the financial period, unless otherwise stated.
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 £.
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 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.
The reporting period is a long period from 8 November 2022 to the 31 March 2024 during the year of incorporation.
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.
Investments in subsidiaries are measured at cost less impairment.
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.
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.
Period from 08.11.2022 to 31.03.2024 |
|
Number | |
Monthly average number of persons employed by the Company during the period, including directors |
|
Investments in subsidiaries
31.03.2024 | |
£ | |
Cost | |
At 08 November 2022 | 0 |
Additions |
|
At 31 March 2024 |
|
Carrying value at 31 March 2024 |
|
31.03.2024 | |
£ | |
Amounts owed by Group undertakings |
|
31.03.2024 | |
£ | |
Amounts owed to Group undertakings |
|
Amounts owed to directors |
|
Accruals |
|
Other creditors |
|
|
31.03.2024 | |
£ | |
Allotted, called-up and fully-paid | |
|
|
|
|
100 |
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.