1 August 2023 false No description of principal activity Taxfiler 2024.5 SC445872business:PrivateLimitedCompanyLtd2023-08-012024-07-31 SC4458722023-07-31 SC4458722023-08-012024-07-31 SC445872business:AuditExemptWithAccountantsReport2023-08-012024-07-31 SC445872business:FilletedAccounts2023-08-012024-07-31 SC4458722024-07-31 SC445872business:Director12023-08-012024-07-31 SC445872business:RegisteredOffice2023-08-012024-07-31 SC4458722023-07-31 SC445872core:WithinOneYear2024-07-31 SC445872core:WithinOneYear2023-07-31 SC445872core:AfterOneYear2024-07-31 SC445872core:AfterOneYear2023-07-31 SC445872core:ShareCapitalcore:PreviouslyStatedAmount2024-07-31 SC445872core:ShareCapitalcore:PreviouslyStatedAmount2023-07-31 SC445872core:RetainedEarningsAccumulatedLossescore:PreviouslyStatedAmount2024-07-31 SC445872core:RetainedEarningsAccumulatedLossescore:PreviouslyStatedAmount2023-07-31 SC445872core:PreviouslyStatedAmount2024-07-31 SC445872core:PreviouslyStatedAmount2023-07-31 SC445872business:SmallEntities2023-08-012024-07-31 SC445872countries:Scotland2023-08-012024-07-31 SC445872core:FurnitureFittings2023-08-012024-07-31 SC445872core:Goodwill2023-07-31 SC445872core:Goodwill2024-07-31 SC445872core:Goodwill2023-08-012024-07-31 SC445872core:PlantMachinery2023-07-31 SC445872core:PlantMachinery2023-08-012024-07-31 SC445872core:PlantMachinery2024-07-31 SC4458722022-08-012023-07-31 iso4217:GBP xbrli:pure
Company Registration No. SC445872 (Scotland)
Palmtree Inns Ltd Unaudited accounts for the year ended 31 July 2024
Palmtree Inns Ltd Unaudited accounts Contents
Page
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Palmtree Inns Ltd Company Information for the year ended 31 July 2024
Director
Simon Illingworth
Company Number
SC445872 (Scotland)
Registered Office
21 CADZOW PLACE EDINBURGH EH7 5SN
Accountants
Oak Team Associates Limited 272 Bath Street Glasgow G2 4JR
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Palmtree Inns Ltd Statement of financial position as at 31 July 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Intangible assets
20,000 
22,500 
Tangible assets
10,319 
6,112 
30,319 
28,612 
Current assets
Inventories
4,305 
3,692 
Debtors
1,460 
715 
Cash at bank and in hand
14,731 
29,167 
20,496 
33,574 
Creditors: amounts falling due within one year
(76,016)
(51,177)
Net current liabilities
(55,520)
(17,603)
Total assets less current liabilities
(25,201)
11,009 
Creditors: amounts falling due after more than one year
(10,000)
(20,000)
Net liabilities
(35,201)
(8,991)
Capital and reserves
Called up share capital
100 
100 
Profit and loss account
(35,301)
(9,091)
Shareholders' funds
(35,201)
(8,991)
For the year ending 31 July 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered 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 profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 8 October 2024 and were signed on its behalf by
Simon Illingworth Director Company Registration No. SC445872
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Palmtree Inns Ltd Notes to the Accounts for the year ended 31 July 2024
1
Statutory information
Palmtree Inns Ltd is a private company, limited by shares, registered in Scotland, registration number SC445872. The registered office is 21 CADZOW PLACE, EDINBURGH, EH7 5SN.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Fixtures & fittings
20% on a reducing balance basis
Intangible fixed assets
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation.
4
Intangible fixed assets
Goodwill 
£ 
Cost
At 1 August 2023
25,000 
At 31 July 2024
25,000 
Amortisation
At 1 August 2023
2,500 
Charge for the year
2,500 
At 31 July 2024
5,000 
Net book value
At 31 July 2024
20,000 
At 31 July 2023
22,500 
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Palmtree Inns Ltd Notes to the Accounts for the year ended 31 July 2024
5
Tangible fixed assets
Plant & machinery 
£ 
Cost or valuation
At cost 
At 1 August 2023
18,141 
Additions
9,794 
At 31 July 2024
27,935 
Depreciation
At 1 August 2023
12,029 
Charge for the year
5,587 
At 31 July 2024
17,616 
Net book value
At 31 July 2024
10,319 
At 31 July 2023
6,112 
6
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
Trade debtors
1,460 
715 
7
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
Bank loans and overdrafts
10,000 
10,000 
VAT
24,423 
17,509 
Trade creditors
25,429 
20,021 
Taxes and social security
16,164 
3,647 
76,016 
51,177 
8
Creditors: amounts falling due after more than one year
2024 
2023 
£ 
£ 
Bank loans
10,000 
20,000 
9
Average number of employees
During the year the average number of employees was 10 (2023: 10).
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