Company registration number 13935225 (England and Wales)
Palmyra Bar Limited
Unaudited financial statements
For the year ended 28 February 2024
Palmyra Bar Limited
Contents
Page
Balance sheet
1
Notes to the financial statements
2 - 4
Palmyra Bar Limited
Balance sheet
As at 28 February 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Intangible assets
3
12,800
14,400
Tangible assets
4
14,643
19,004
27,443
33,404
Current assets
Stocks
16,954
15,186
Debtors
5
9,191
38,173
Cash at bank and in hand
6,314
11,448
32,459
64,807
Creditors: amounts falling due within one year
6
(103,971)
(123,857)
Net current liabilities
(71,512)
(59,050)
Net liabilities
(44,069)
(25,646)
Capital and reserves
Called up share capital
1
1
Profit and loss reserves
(44,070)
(25,647)
Total equity
(44,069)
(25,646)
The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true
For the financial year ended 28 February 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
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 member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved and signed by the director and authorised for issue on 25 November 2024
Mrs E Ward
Director
Company registration number 13935225 (England and Wales)
Palmyra Bar Limited
Balance sheet (continued)
As at 28 February 2024
28 February 2024
- 2 -
1
Judgements and key sources of estimation uncertainty
In the application of the company’s accounting policies, the director is required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2024
2023
Number
Number
Total
8
10
3
Intangible fixed assets
Goodwill
£
Cost
At 1 March 2023 and 28 February 2024
16,000
Amortisation and impairment
At 1 March 2023
1,600
Amortisation charged for the year
1,600
At 28 February 2024
3,200
Carrying amount
At 28 February 2024
12,800
At 28 February 2023
14,400
Palmyra Bar Limited
Balance sheet (continued)
As at 28 February 2024
28 February 2024
- 3 -
4
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 March 2023
25,339
Additions
520
At 28 February 2024
25,859
Depreciation and impairment
At 1 March 2023
6,335
Depreciation charged in the year
4,881
At 28 February 2024
11,216
Carrying amount
At 28 February 2024
14,643
At 28 February 2023
19,004
5
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
537
Other debtors
32,500
537
32,500
2024
2023
Amounts falling due after more than one year:
£
£
Deferred tax asset
8,654
5,673
Total debtors
9,191
38,173
Palmyra Bar Limited
Balance sheet (continued)
As at 28 February 2024
28 February 2024
- 4 -
6
Creditors: amounts falling due within one year
2024
2023
£
£
Taxation and social security
4,082
9,898
Other creditors
99,889
113,959
103,971
123,857
7
Operating lease commitments
Lessee
At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:
2024
2023
£
£
4,500
18,000
8
Directors' transactions
The company owed the director £98,213 as at 28 February 2024 (112,359 at 28 February 2023). This balance is interest free and repayable on demand.