2023-01-012023-12-312023-12-31false00617788PALMER & BISHOP 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PALMER & BISHOP LIMITED

Registered Number
00617788
(England and Wales)

Unaudited Financial Statements for the Year ended
31 December 2023

PALMER & BISHOP LIMITED
Company Information
for the year from 1 January 2023 to 31 December 2023

Directors

PALMER, Abigail Jessica
PALMER, Benjamin
PALMER, Colleen Frances
PALMER, James Charles
PALMER, Justin Charles

Company Secretary

PALMER, Colleen Frances

Registered Address

19 Market Street
Yeovil
BA20 1HY

Registered Number

00617788 (England and Wales)
PALMER & BISHOP LIMITED
Balance Sheet as at
31 December 2023

Notes

2023

2022

£

£

£

£

Fixed assets
Investment property3172,000172,000
172,000172,000
Current assets
Debtors41,5117,589
Cash at bank and on hand68,69955,208
70,21062,797
Creditors amounts falling due within one year5(2,961)(3,940)
Net current assets (liabilities)67,24958,857
Total assets less current liabilities239,249230,857
Net assets239,249230,857
Capital and reserves
Called up share capital500500
Revaluation reserve167,949167,949
Profit and loss account70,80062,408
Shareholders' funds239,249230,857
The financial statements were approved and authorised for issue by the Board of Directors on 25 September 2024, and are signed on its behalf by:
PALMER, Benjamin
Director
Registered Company No. 00617788
PALMER & BISHOP LIMITED
Notes to the Financial Statements
for the year ended 31 December 2023

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in accordance with the Companies Act 2006 and FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland including Section 1A Small Entities.
Revenue from sale of goods
Revenue from the sale of goods is recognised when the company has transferred to the buyer the significant risks and rewards of ownership of the goods, usually when goods are delivered and legal title has passed. Providing the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transition can be measured reliably.
Investment property
The investment property is accounted for under FRS 102, Section 16 Investment Property. Investment property is remeasured to fair value at each balance sheet date with fair value gains and losses being reported in profit or loss. Investment properties are valued using RICS open market valuation on a freehold basis.
2.Average number of employees

20232022
Average number of employees during the year00
3.Investment property
The investment properties were valued on an open market basis on 30 September 2020 by Symonds & Sampson LLP. The directors believe that these valuations remain accurate at the Balance Sheet date.

£
Fair value at 01 January 23172,000
At 31 December 23172,000
4.Debtors: amounts due within one year

2023

2022

££
Trade debtors / trade receivables1,4567,534
Amounts owed by associates and joint ventures / participating interests5555
Total1,5117,589
5.Creditors: amounts due within one year

2023

2022

££
Trade creditors / trade payables50-
Taxation and social security1,9692,346
Accrued liabilities and deferred income9421,594
Total2,9613,940