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REGISTERED NUMBER: 11226553 (England and Wales)















PALMER PROPERTY GROUP LIMITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 28TH FEBRUARY 2024






PALMER PROPERTY GROUP LIMITED (REGISTERED NUMBER: 11226553)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28TH FEBRUARY 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


PALMER PROPERTY GROUP LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 28TH FEBRUARY 2024







DIRECTOR: D A Palmer





REGISTERED OFFICE: Bedwellty House
Bedwellty Road
New Tredegar
Gwent
NP24 6NH





REGISTERED NUMBER: 11226553 (England and Wales)





ACCOUNTANTS: Green & Co
Chartered Certified Accountants
Pembroke House
Llantarnam Park Way
Cwmbran
Torfaen
NP44 3AU

PALMER PROPERTY GROUP LIMITED (REGISTERED NUMBER: 11226553)

BALANCE SHEET
28TH FEBRUARY 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 534 712

CURRENT ASSETS
Stocks 229,749 80,376
Cash at bank 5,350 6,650
235,099 87,026
CREDITORS
Amounts falling due within one year 5 254,379 97,412
NET CURRENT LIABILITIES (19,280 ) (10,386 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(18,746

)

(9,674

)

PROVISIONS FOR LIABILITIES 101 135
NET LIABILITIES (18,847 ) (9,809 )

CAPITAL AND RESERVES
Called up share capital 6 120 120
Retained earnings (18,967 ) (9,929 )
SHAREHOLDERS' FUNDS (18,847 ) (9,809 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28th February 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 28th February 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 PROPERTY GROUP LIMITED (REGISTERED NUMBER: 11226553)

BALANCE SHEET - continued
28TH FEBRUARY 2024


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 Profit and Loss has not been delivered.

The financial statements were approved by the director and authorised for issue on 6th September 2024 and were signed by:





D A Palmer - Director


PALMER PROPERTY GROUP LIMITED (REGISTERED NUMBER: 11226553)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28TH FEBRUARY 2024

1. STATUTORY INFORMATION

Palmer Property Group 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.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
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. The financial statements have been prepared under the historical cost convention.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Motor vehicles - 25% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss, 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.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

PALMER PROPERTY GROUP LIMITED (REGISTERED NUMBER: 11226553)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 28TH FEBRUARY 2024

4. TANGIBLE FIXED ASSETS
Motor
vehicles
£   
COST
At 1st March 2023
and 28th February 2024 3,000
DEPRECIATION
At 1st March 2023 2,288
Charge for year 178
At 28th February 2024 2,466
NET BOOK VALUE
At 28th February 2024 534
At 28th February 2023 712

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Corporation Tax - 1,170
Directors' current accounts 252,529 94,529
Accrued expenses 1,850 1,713
254,379 97,412

6. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
80 Ordinary A £1 80 80
20 Ordinary B £1 20 20
20 Ordinary C £1 20 20
120 120

7. RELATED PARTY DISCLOSURES

The company had the following outstanding directors loans at the year end:
- D A Palmer was owed £87,607 (2023 - £18,607)
- D Palmer was owed £164,922 (2023 - (£75,922)

PALMER PROPERTY GROUP LIMITED (REGISTERED NUMBER: 11226553)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 28TH FEBRUARY 2024

8. GOING CONCERN

After reviewing the company's forecasts and projections, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The company therefore continues to adopt the going concern basis in preparing it's financial statements.