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REGISTERED NUMBER: OC354362 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30TH APRIL 2024

FOR

PALM VISION LLP

PALM VISION LLP (REGISTERED NUMBER: OC354362)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30TH APRIL 2024










Page

General Information 1

Balance Sheet 2

Notes to the Financial Statements 3


PALM VISION LLP

GENERAL INFORMATION
FOR THE YEAR ENDED 30TH APRIL 2024







DESIGNATED MEMBERS: Dr R Malhotra
Dr D Verity





REGISTERED OFFICE: 1 Doughty Street
London
WC1N 2PH





REGISTERED NUMBER: OC354362 (England and Wales)






PALM VISION LLP (REGISTERED NUMBER: OC354362)

BALANCE SHEET
30TH APRIL 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 50,247 50,352

CURRENT ASSETS
Stocks 17,943 13,602
Cash at bank 918 251
18,861 13,853
CREDITORS
Amounts falling due within one year 5 1,724 2,009
NET CURRENT ASSETS 17,137 11,844
TOTAL ASSETS LESS CURRENT LIABILITIES
and
NET ASSETS ATTRIBUTABLE TO
MEMBERS

67,384

62,196

LOANS AND OTHER DEBTS DUE TO
MEMBERS

6

67,384

62,196

TOTAL MEMBERS' INTERESTS
Loans and other debts due to members 6 67,384 62,196

The LLP is entitled to exemption from audit under Section 477 of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 for the year ended 30th April 2024.

The members acknowledge their responsibilities for:
(a)ensuring that the LLP keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the LLP 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 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 relating to financial statements, so far as applicable to the LLP.

The financial statements have been prepared and delivered in accordance with the provisions applicable to LLPs subject to the small LLPs regime.

In accordance with Section 444 of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008, the Income Statement has not been delivered.

The financial statements were approved by the members of the LLP and authorised for issue on 7th November 2024 and were signed by:





Mr R Malhotra - Designated member

PALM VISION LLP (REGISTERED NUMBER: OC354362)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30TH APRIL 2024


1. STATUTORY INFORMATION

Palm Vision LLP is registered in England and Wales. The LLP's registered number and registered office address can be found on the General 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 requirements of the Statement of Recommended Practice, Accounting by Limited Liability Partnerships. The financial statements have been prepared under the historical cost convention.

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 etc - 33% on reducing balance and 25% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Members
Members drawings, subscriptions, and withdrawals are as agreed by members.

3. EMPLOYEE INFORMATION

The average number of employees during the year was NIL (2023 - NIL).

4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1st May 2023
and 30th April 2024 49,937 7,668 57,605
DEPRECIATION
At 1st May 2023 - 7,253 7,253
Charge for year - 105 105
At 30th April 2024 - 7,358 7,358
NET BOOK VALUE
At 30th April 2024 49,937 310 50,247
At 30th April 2023 49,937 415 50,352

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 300 1
Other creditors 1,424 2,008
1,724 2,009

PALM VISION LLP (REGISTERED NUMBER: OC354362)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30TH APRIL 2024


6. LOANS AND OTHER DEBTS DUE TO MEMBERS
2024 2023
£    £   
Amounts owed to members in respect of profits 67,384 62,196

Falling due within one year 67,384 62,196

Loans and other debts due to members' rank parri passu with other creditors.