Caseware UK (AP4) 2023.0.135 2023.0.135 2024-03-312024-03-31true2023-04-01falseNo description of principal activity4false4trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 12459434 2023-04-01 2024-03-31 12459434 2022-04-01 2023-03-31 12459434 2024-03-31 12459434 2023-03-31 12459434 c:Director1 2023-04-01 2024-03-31 12459434 d:CurrentFinancialInstruments 2024-03-31 12459434 d:CurrentFinancialInstruments 2023-03-31 12459434 c:FRS102 2023-04-01 2024-03-31 12459434 c:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 12459434 c:FullAccounts 2023-04-01 2024-03-31 12459434 c:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 12459434 6 2023-04-01 2024-03-31 12459434 e:PoundSterling 2023-04-01 2024-03-31 iso4217:GBP xbrli:pure

Registered number: 12459434









PALM TREE PROPERTY HOLDINGS LTD







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE PERIOD ENDED 31 MARCH 2024

 
PALM TREE PROPERTY HOLDINGS LTD
 
 
  
CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF PALM TREE PROPERTY HOLDINGS LTD
FOR THE PERIOD ENDED 31 MARCH 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Palm Tree Property Holdings Ltd for the period ended 31 March 2024 which comprise  the Balance Sheet and the related notes from the Company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW)we are subject to its ethical and other professional requirements which are detailed at https://www.icaew.com /regulation.

This report is made solely to the Board of Directors of Palm Tree Property Holdings Ltd, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the financial statements of Palm Tree Property Holdings Ltd and state those matters that we have agreed to state to the Board of Directors of Palm Tree Property Holdings Ltd, as a body, in this report in accordance with ICAEW Technical Release TECH07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Palm Tree Property Holdings Ltd and its Board of Directors, as a body, for our work or for this report. 

It is your duty to ensure that Palm Tree Property Holdings Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Palm Tree Property Holdings Ltd. You consider that Palm Tree Property Holdings Ltd is exempt from the statutory audit requirement for the period.

We have not been instructed to carry out an audit or review of the financial statements of Palm Tree Property Holdings Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

  



Haslers
 
Chartered Accountants
  
Old Station Road
Loughton
Essex
IG10 4PL
24 June 2024
Page 1

 
PALM TREE PROPERTY HOLDINGS LTD
REGISTERED NUMBER: 12459434

BALANCE SHEET
AS AT 31 MARCH 2024

2024
2023
£
£


Fixed assets
8,099,189
8,099,189

Current assets
2,069,788
2,069,790

Net current assets
 
 
2,069,788
 
 
2,069,790

Total assets less current liabilities
10,168,977
10,168,979


Net assets
10,168,977
10,168,979



Capital and reserves
10,168,977
10,168,979


The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the period in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The Company's financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the profit and loss account in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 24 June 2024.




H Patel
Director

The notes on pages 3 to 5 form part of these financial statements.

Page 2

 
PALM TREE PROPERTY HOLDINGS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2024

1.


General information

Palm Tree Property Holdings is a private company, limited by shares, domiciled in England and Wales, registration number 12459434. The registered office is Haslers Hawke House, Old Station Road, Loughton, Essex, IG10 4PL. The principal activity of the company continued to be that of a holding company.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgement in applying the Company's accounting policies.

The following principal accounting policies have been applied:

 
2.2

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

Investments in unlisted Company shares, whose market value can be reliably determined, are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in the Profit and Loss Account for the period. Where market value cannot be reliably determined, such investments are stated at historic cost less impairment.

Investments in listed company shares are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in profit or loss for the period.

 
2.3

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.4

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

Page 3

 
PALM TREE PROPERTY HOLDINGS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2024

3.


Employees




The average monthly number of employees, including the directors, during the period was as follows:


        2024
        2023
            No.
            No.







Directors
4
4


4.


Fixed asset investments





Investments in subsidiary companies

£



Cost or valuation


At 1 April 2023
8,099,189



At 31 March 2024
8,099,189





5.


Debtors

2024
2023
£
£


Amounts owed by group undertakings
2,067,802
2,069,789

2,067,802
2,069,789



6.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
1,986
1

1,986
1


Page 4

 
PALM TREE PROPERTY HOLDINGS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2024

7.


Related party transactions

At year end the following amounts were due from / (to) related parties


2024
2023
£
£

Entities under common control
2,067,802
2,069,789
2,067,802
2,069,789


8.


Controlling party

The Ultimate Controlling Party is H S Patel.

 
Page 5