Registered number
06757207
Palmavera Limited
Filleted Accounts
For the year ended 30 November 2023
Palmavera Limited
Registered number: 06757207
Balance Sheet
as at 30 November 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 - -
Current assets
Debtors 4 389 389
Cash at bank and in hand 19,618 9,968
20,007 10,357
Creditors: amounts falling due within one year 5 (12,845) (8,699)
Net current assets 7,162 1,658
Net assets 7,162 1,658
Capital and reserves
Called up share capital 1,000 1,000
Profit and loss account 6,162 658
Shareholder's funds 7,162 1,658
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges her responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Approved by the board on 20 November 2024
E Lundie
Director
Palmavera Limited
Notes to the Accounts
for the year ended 30 November 2023
1 Accounting policies
Basis of preparation
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).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts.
Tangible fixed assets
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:
Fixtures, fittings, and equipment 20% per annum on cost
Debtors
Short term debtors are measured at transaction price, less any impairment losses for bad and doubtful debts.
Creditors
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.
Taxation
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.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 1 1
3 Tangible fixed assets
Fixtures fittings and equipment
£
Cost
At 1 December 2022 1,512
Additions -
Disposals -
At 30 November 2023 1,512
Depreciation
At 1 December 2022 1,512
Charge for the year -
At 30 November 2023 1,512
Net book value
At 30 November 2023 -
At 30 November 2022 -
4 Debtors 2023 2022
£ £
Trade debtors 389 389
5 Creditors: amounts falling due within one year 2023 2022
£ £
Taxation and social security costs 7,940 3,670
Other creditors 4,905 5,029
12,845 8,699
6 Other information
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.
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