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REGISTERED NUMBER: 01437034 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 December 2023

for

Darrenpalm Limited

Darrenpalm Limited (Registered number: 01437034)






Contents of the Financial Statements
for the Year Ended 31 December 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Darrenpalm Limited

Company Information
for the Year Ended 31 December 2023







DIRECTOR: S J Bingham





REGISTERED OFFICE: Rugby House
31 Bell Lane
Husbands Bosworth
Lutterworth
LE17 6LA





REGISTERED NUMBER: 01437034 (England and Wales)





ACCOUNTANTS: torr waterfield
Park House
37 Clarence Street
Leicester
Leicestershire
LE1 3RW

Darrenpalm Limited (Registered number: 01437034)

Balance Sheet
31 December 2023

31.12.23 31.12.22
Notes £    £   
FIXED ASSETS
Tangible assets 4 9,363 17,315
Investment property 5 325,000 325,000
334,363 342,315

CURRENT ASSETS
Debtors 6 226,922 266,514
Cash at bank 26,405 15,204
253,327 281,718
CREDITORS
Amounts falling due within one year 7 (26,124 ) (36,733 )
NET CURRENT ASSETS 227,203 244,985
TOTAL ASSETS LESS CURRENT
LIABILITIES

561,566

587,300

CREDITORS
Amounts falling due after more than one
year

8

-

(12,974

)

PROVISIONS FOR LIABILITIES (9,609 ) (11,597 )
NET ASSETS 551,957 562,729

CAPITAL AND RESERVES
Called up share capital 11,250 11,250
Capital redemption reserve 1,250 1,250
Fair value reserve 21,804 21,804
Retained earnings 517,653 528,425
SHAREHOLDERS' FUNDS 551,957 562,729

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 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.

Darrenpalm Limited (Registered number: 01437034)

Balance Sheet - continued
31 December 2023


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 23 September 2024 and were signed by:





S J Bingham - Director


Darrenpalm Limited (Registered number: 01437034)

Notes to the Financial Statements
for the Year Ended 31 December 2023

1. STATUTORY INFORMATION

Darrenpalm 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 as modified by the revaluation of certain assets.

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 - 10% on cost
Trailers - 20% on cost
Motor vehicles - 20% on cost
Office equipment - 10% on cost

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Taxation
Taxation for the year 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 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.

Darrenpalm Limited (Registered number: 01437034)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Assets obtained under the hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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 year was 2 (2022 - 2 ) .

4. TANGIBLE FIXED ASSETS
Plant and Motor Office
machinery Trailers vehicles equipment Totals
£    £    £    £    £   
COST
At 1 January 2023
and 31 December 2023 382 18,575 34,891 1,792 55,640
DEPRECIATION
At 1 January 2023 76 17,061 20,934 254 38,325
Charge for year 38 757 6,978 179 7,952
At 31 December 2023 114 17,818 27,912 433 46,277
NET BOOK VALUE
At 31 December 2023 268 757 6,979 1,359 9,363
At 31 December 2022 306 1,514 13,957 1,538 17,315

5. INVESTMENT PROPERTY
Total
£   
COST OR VALUATION
At 1 January 2023
and 31 December 2023 325,000
NET BOOK VALUE
At 31 December 2023 325,000
At 31 December 2022 325,000

Cost or valuation at 31 December 2023 is represented by:
£   
Valuation in 2023 325,000

The directors consider the fair value of investment property at the year end to be £325,000 (2022: £325,000). Valuations of investment property have been made on an open market value for existing use basis.

Darrenpalm Limited (Registered number: 01437034)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade debtors 53,629 65,629
Other debtors 173,293 200,885
226,922 266,514

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Hire purchase contracts - 6,833
Trade creditors 574 137
Taxation and social security 12,948 28,563
Other creditors 12,602 1,200
26,124 36,733

Other creditors includes accruals and deferred income of £1,200 (2022: £1,200).

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.12.23 31.12.22
£    £   
Hire purchase contracts - 12,974

9. SECURED DEBTS

The following secured debts are included within creditors:

31.12.23 31.12.22
£    £   
Hire purchase - 19,807

Hire purchase liabilities are secured on the individual assets being acquired.

10. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 December 2023 and 31 December 2022:

31.12.23 31.12.22
£    £   
S J Bingham
Balance outstanding at start of year - -
Amounts advanced 7,500 -
Amounts repaid (7,500 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - -

The loan was interest free and repayable on demand.