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REGISTERED NUMBER: 09384386 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 March 2024

for

Palmloch Limited

Palmloch Limited (Registered number: 09384386)






Contents of the Financial Statements
for the Year Ended 31 March 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Palmloch Limited

Company Information
for the Year Ended 31 March 2024







DIRECTORS: Mrs C Allen
B G Eades
D W Tracey





REGISTERED OFFICE: Universal Square
Building 2, 3rd Floor
Devonshire Street North
Manchester
M12 6JH





REGISTERED NUMBER: 09384386 (England and Wales)





ACCOUNTANTS: Uppal & Warr
Chartered Accountants
452 Manchester Road
Heaton Chapel
Stockport
SK4 5DL

Palmloch Limited (Registered number: 09384386)

Balance Sheet
31 March 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 3,296,783 3,296,783

CURRENT ASSETS
Debtors 5 1,892,149 1,618,938
Cash at bank 803 -
1,892,952 1,618,938
CREDITORS
Amounts falling due within one year 6 418,409 294,775
NET CURRENT ASSETS 1,474,543 1,324,163
TOTAL ASSETS LESS CURRENT
LIABILITIES

4,771,326

4,620,946

CREDITORS
Amounts falling due after more than one
year

7

2,969,467

2,989,803
NET ASSETS 1,801,859 1,631,143

CAPITAL AND RESERVES
Called up share capital 8 100 100
Non-distributable 9 1,431,800 1,431,800
Retained earnings 9 369,959 199,243
SHAREHOLDERS' FUNDS 1,801,859 1,631,143

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company 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 relating to financial statements, so far as applicable to the company.

Palmloch Limited (Registered number: 09384386)

Balance Sheet - continued
31 March 2024


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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 3 December 2024 and were signed on its behalf by:





Mrs C Allen - Director


Palmloch Limited (Registered number: 09384386)

Notes to the Financial Statements
for the Year Ended 31 March 2024

1. STATUTORY INFORMATION

Palmloch Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company 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 Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - not provided
Plant and machinery - 50% on cost

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2023 - 2 ) .

Palmloch Limited (Registered number: 09384386)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

4. TANGIBLE FIXED ASSETS
Freehold Plant and
property machinery Totals
£    £    £   
COST
At 1 April 2023
and 31 March 2024 3,296,783 1,980 3,298,763
DEPRECIATION
At 1 April 2023
and 31 March 2024 - 1,980 1,980
NET BOOK VALUE
At 31 March 2024 3,296,783 - 3,296,783
At 31 March 2023 3,296,783 - 3,296,783

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade debtors 17,705 59,102
Other debtors 144,242 4,860
Associated company loans 1,679,434 1,476,521
Accrued income 3,173 40,193
Prepayments 47,595 38,262
1,892,149 1,618,938

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Bank loans and overdrafts - 709
Trade creditors 155,896 133,705
Net service charges 28,591 3,689
VAT 4,466 5,785
Deposits 121,601 127,671
Associated company loans 36 36
Deferred income 109 6
Accrued expenses 107,710 23,174
418,409 294,775

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.3.24 31.3.23
£    £   
Bank loans 2,969,467 2,989,803

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.3.24 31.3.23
value: £    £   
100 Ordinary £1 100 100

Palmloch Limited (Registered number: 09384386)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

9. RESERVES
Retained
earnings Non-distributable Totals
£    £    £   

At 1 April 2023 199,243 1,431,800 1,631,043
Profit for the year 170,716 170,716
At 31 March 2024 369,959 1,431,800 1,801,759