Caseware UK (AP4) 2023.0.135 2023.0.135 2023-03-312023-03-312022-04-01falseNo description of principal activity11truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 13278812 2022-04-01 2023-03-31 13278812 2021-04-01 2022-03-31 13278812 2023-03-31 13278812 2022-03-31 13278812 c:Director1 2022-04-01 2023-03-31 13278812 d:CurrentFinancialInstruments 2023-03-31 13278812 d:CurrentFinancialInstruments 2022-03-31 13278812 d:Non-currentFinancialInstruments 2023-03-31 13278812 d:Non-currentFinancialInstruments 2022-03-31 13278812 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 13278812 d:CurrentFinancialInstruments d:WithinOneYear 2022-03-31 13278812 d:Non-currentFinancialInstruments d:AfterOneYear 2023-03-31 13278812 d:Non-currentFinancialInstruments d:AfterOneYear 2022-03-31 13278812 d:ShareCapital 2023-03-31 13278812 d:ShareCapital 2022-03-31 13278812 d:RetainedEarningsAccumulatedLosses 2023-03-31 13278812 d:RetainedEarningsAccumulatedLosses 2022-03-31 13278812 c:OrdinaryShareClass1 2022-04-01 2023-03-31 13278812 c:OrdinaryShareClass1 2023-03-31 13278812 c:FRS102 2022-04-01 2023-03-31 13278812 c:AuditExemptWithAccountantsReport 2022-04-01 2023-03-31 13278812 c:FullAccounts 2022-04-01 2023-03-31 13278812 c:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 13278812 e:PoundSterling 2022-04-01 2023-03-31 iso4217:GBP xbrli:shares xbrli:pure

Registered number: 13278812









PALM RETAIL LTD







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MARCH 2023

 
PALM RETAIL LTD
 

CONTENTS



Page
Accountants' Report
 
1
Statement of Financial Position
 
2 - 3
Notes to the Financial Statements
 
4 - 6


 
PALM RETAIL LTD
 
 
  
CHARTERED ACCOUNTANTS' REPORT TO THE DIRECTOR ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF PALM RETAIL LTD
FOR THE YEAR ENDED 31 MARCH 2023

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 Retail Ltd for the year ended 31 March 2023 which comprise  the Statement of Financial Position 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 director of Palm Retail Ltd 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 Retail Ltd and state those matters that we have agreed to state to the director of Palm Retail Ltd 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 Retail Ltd and its director for our work or for this report. 

It is your duty to ensure that Palm Retail 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 Retail Ltd. You consider that Palm Retail Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or review of the financial statements of Palm Retail 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.

  



Nyman Libson Paul LLP
 
Chartered Accountants
  
124 Finchley Road
London
NW3 5JS
2 September 2024
Page 1

 
PALM RETAIL LTD
REGISTERED NUMBER: 13278812

STATEMENT OF FINANCIAL POSITION
AS AT 31 MARCH 2023

2023
2022
Note
£
£

  

Current assets
  

Stocks
  
-
14,278

Debtors: amounts falling due within one year
 4 
3,088
9,052

Cash at bank and in hand
 5 
34,885
4,133

  
37,973
27,463

Current liabilities
  

Creditors: Amounts Falling Due Within One Year
 6 
(98,345)
(47,051)

Net current liabilities
  
(60,372)
(19,588)

Creditors: amounts falling due after more than one year
 7 
-
(1,544)

  

Net liabilities
  
(60,372)
(21,132)


Capital and reserves
  

Called up share capital 
 8 
100
100

Profit and loss account
  
(60,472)
(21,232)

  
(60,372)
(21,132)


Page 2

 
PALM RETAIL LTD
REGISTERED NUMBER: 13278812
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 MARCH 2023

The director considers 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 year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges her responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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 statement of income and retained earnings 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 2 September 2024.




D De Vuyst
Director

The notes on pages 4 to 6 form part of these financial statements.

Page 3

 
PALM RETAIL LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

1.


General information

Palm Retail Limited is a private company limited by shares and is incorporated and domiciled in England. The address of its registered office is 71-75 Shelton Street, Covent Garden, London, WC2H 9JQ.

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 FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Going concern

After reviewing the company's forecast and projection, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future and has full support of its director/shareholder. The company therefore continues to adopt the going concern basis in preparing its financial statements.

 
2.3

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

 
2.4

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair vlue of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.
Revenue comprises of sale of goods and is recognised when goods have been delivered and the amount of revenue can be measured reliabily.

 
2.5

Debtors

Short-term debtors are measured at transaction price, less any impairment.

Page 4

 
PALM RETAIL LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

2.Accounting policies (continued)

 
2.6

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.

 
2.7

Creditors

Short term creditors are measured at the transaction price.


3.


Employees




The average monthly number of employees, including directors, during the year was 1 (2022 - 1).


4.


Debtors

2023
2022
£
£


Trade debtors
-
4,816

Other debtors
2,943
4,236

Prepayments
145
-

3,088
9,052



5.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
34,885
4,133

34,885
4,133


Page 5

 
PALM RETAIL LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

6.


Creditors: Amounts falling due within one year

2023
2022
£
£

Trade creditors
12,693
14

Other creditors
83,152
47,037

Accruals
2,500
-

98,345
47,051



7.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Accruals
-
1,544

-
1,544



8.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



100 Ordinary shares of £1.00 each
100
100



9.


First time adoption of FRS 102

The policies applied under the entity's previous accounting framework are not materially different to FRS 102 and have not impacted on equity or profit or loss.

 
Page 6