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REGISTERED NUMBER: 12937474 (England and Wales)















FINANCIAL STATEMENTS

FOR THE PERIOD 1ST NOVEMBER 2022 TO 30TH APRIL 2024

FOR

PALACE EVENTS LTD

PALACE EVENTS LTD (REGISTERED NUMBER: 12937474)






CONTENTS OF THE FINANCIAL STATEMENTS
for the Period 1st November 2022 to 30th April 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4

Report of the Accountants 6

PALACE EVENTS LTD

COMPANY INFORMATION
for the Period 1st November 2022 to 30th April 2024







DIRECTOR: Mr A S Chesters





REGISTERED OFFICE: Barn End Cottage
Stoney Lane
Lancaster
LA2 0JD





REGISTERED NUMBER: 12937474 (England and Wales)





ACCOUNTANTS: Taylor, Robertson & Willett Ltd
95 King Street
Lancaster
Lancashire
LA1 1RH

PALACE EVENTS LTD (REGISTERED NUMBER: 12937474)

BALANCE SHEET
30th April 2024

2024 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 - 20,846

CURRENT ASSETS
Stocks - 200
Debtors 5 110 1,077
Cash at bank 27 9,376
137 10,653
CREDITORS
Amounts falling due within one year 6 2,166 11,104
NET CURRENT LIABILITIES (2,029 ) (451 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(2,029

)

20,395

CREDITORS
Amounts falling due after more than one year 7 22,000 30,000
NET LIABILITIES (24,029 ) (9,605 )

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings (24,030 ) (9,606 )
(24,029 ) (9,605 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 30th April 2024.

The members have not required the company to obtain an audit of its financial statements for the period ended 30th April 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.

PALACE EVENTS LTD (REGISTERED NUMBER: 12937474)

BALANCE SHEET - continued
30th April 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 12th September 2024 and were signed by:





Mr A S Chesters - Director


PALACE EVENTS LTD (REGISTERED NUMBER: 12937474)

NOTES TO THE FINANCIAL STATEMENTS
for the Period 1st November 2022 to 30th April 2024

1. STATUTORY INFORMATION

Palace Events Ltd 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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 33% on reducing balance and 20% on reducing balance
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 period comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 period 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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the period was 1 (2022 - 2 ) .

PALACE EVENTS LTD (REGISTERED NUMBER: 12937474)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Period 1st November 2022 to 30th April 2024

4. TANGIBLE FIXED ASSETS
Plant and Motor
machinery vehicles Totals
£    £    £   
COST
At 1st November 2022 22,823 6,128 28,951
Disposals (22,823 ) (6,128 ) (28,951 )
At 30th April 2024 - - -
DEPRECIATION
At 1st November 2022 5,540 2,565 8,105
Eliminated on disposal (5,540 ) (2,565 ) (8,105 )
At 30th April 2024 - - -
NET BOOK VALUE
At 30th April 2024 - - -
At 31st October 2022 17,283 3,563 20,846

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2022
£    £   
Trade debtors - 821
Other debtors 110 256
110 1,077

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2022
£    £   
Trade creditors - 460
Other creditors 2,166 10,644
2,166 11,104

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2022
£    £   
Other creditors 22,000 30,000

PALACE EVENTS LTD

REPORT OF THE ACCOUNTANTS TO THE DIRECTOR OF
PALACE EVENTS LTD

The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Director are not required to be filed with the Registrar of Companies.

As described on the Balance Sheet you are responsible for the preparation of the financial statements for the period ended 30th April 2024 set out on page nil and you consider that the company is exempt from an audit.

In accordance with your instructions, we have compiled these unaudited financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and information and explanations supplied to us.

Our report is prepared solely for the confidential use of the directors and should not be relied upon by any third party without prior reference to ourselves.






Taylor, Robertson & Willett Ltd
95 King Street
Lancaster
Lancashire
LA1 1RH


12th September 2024