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Registered number: 02027192
Palmtrend Limited
Unaudited Financial Statements
For The Year Ended 31 March 2024
Mouktaris & Co Ltd
Chartered Accountants & Registered Auditors
156a Burnt Oak Broadway
Edgware
Middlesex
HA8 0AX
Contents
Page
Statement of Financial Position 1
Notes to the Financial Statements 2—3
Page 1
Statement of Financial Position
Registered number: 02027192
2024 2023
Notes £ £ £ £
CURRENT ASSETS
Debtors 4 - 334
Cash at bank and in hand 107,318 131,060
107,318 131,394
Creditors: Amounts Falling Due Within One Year 5 (179 ) -
NET CURRENT ASSETS (LIABILITIES) 107,139 131,394
TOTAL ASSETS LESS CURRENT LIABILITIES 107,139 131,394
PROVISIONS FOR LIABILITIES
Provisions For Charges (840 ) (1,200 )
NET ASSETS 106,299 130,194
CAPITAL AND RESERVES
Called up share capital 6 1,000 1,000
Income Statement 105,299 129,194
SHAREHOLDERS' FUNDS 106,299 130,194
For the year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has 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.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Income Statement.
On behalf of the board
Mr Peter Battram
Director
27 September 2024
The notes on pages 2 to 3 form part of these financial statements.
Page 1
Page 2
Notes to the Financial Statements
1. General Information
Palmtrend Limited is a private company, limited by shares, incorporated in England & Wales, registered number 02027192 . The registered office is 156a Burnt Oak Broadway, Edgware, Middlesex, HA8 0AX.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements are prepared under the historical cost convention and in accordance with the FRS 102 Section 1A Small Entities - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006. The financial statements are prepared in sterling, which is the functional currency of the entity.
2.2. Taxation
The tax expense represents the sum of the corporation tax currently payable.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other year and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Current tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
2.3. Basic financial assets
Basic financial assets, which include trade and other debtors and cash and bank balances, are initially measured at transaction price including transaction costs and where material are subsequently measured at amortised cost using the effective interest method, less any impairment.
2.4. Basic financial liabilities
Basic financial liabilities, including trade and other payables and loans from company undertakings that are classified as debt are initially measured at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at the market rate of interest.
2.5. Cash and cash equivalents
Cash and cash equivalents include cash in hand, deposits held at call with banks, other short term liquid investments with original maturities of three months or less.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 1 (2023: 1)
1 1
4. Debtors
2024 2023
£ £
Due within one year
Corporation tax recoverable assets - 334
5. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Corporation tax 179 -
6. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 1,000 1,000
Page 2
Page 3
7. Dividends
2024 2023
£ £
On equity shares:
Final dividend paid 25,000 25,000
Page 3