Palmavera Limited |
Notes to the Accounts |
for the year ended 30 November 2023 |
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1 |
Accounting policies |
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Basis of preparation |
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The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard). |
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Turnover |
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Turnover is measured at the fair value of the consideration received or receivable, net of discounts. |
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Tangible fixed assets |
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Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows: |
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Fixtures, fittings, and equipment |
20% per annum on cost |
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Debtors |
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Short term debtors are measured at transaction price, less any impairment losses for bad and doubtful debts. |
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Creditors |
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Short term creditors are measured at transaction price. Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method. |
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Taxation |
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A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference. Current and deferred tax assets and liabilities are not discounted. |
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2 |
Employees |
2023 |
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2022 |
Number |
Number |
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Average number of persons employed by the company |
1 |
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1 |
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3 |
Tangible fixed assets |
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Fixtures fittings and equipment |
£ |
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Cost |
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At 1 December 2022 |
1,512 |
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Additions |
- |
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Disposals |
- |
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At 30 November 2023 |
1,512 |
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Depreciation |
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At 1 December 2022 |
1,512 |
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Charge for the year |
- |
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At 30 November 2023 |
1,512 |
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Net book value |
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At 30 November 2023 |
- |
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At 30 November 2022 |
- |
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4 |
Debtors |
2023 |
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2022 |
£ |
£ |
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Trade debtors |
389 |
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389 |
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5 |
Creditors: amounts falling due within one year |
2023 |
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2022 |
£ |
£ |
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Taxation and social security costs |
7,940 |
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3,670 |
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Other creditors |
4,905 |
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5,029 |
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12,845 |
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8,699 |
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6 |
Other information |
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Palmavera Limited is a private company limited by shares and incorporated in England. Its registered office is 9 Kent House, Old Bexley Business Park, Bourne Road, Bexley, Kent DA5 1LR. |