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PALMERS OF TAVISTOCK LIMITED

Registered Number
05022455
(England and Wales)

Unaudited Financial Statements for the Year ended
31 March 2024

PALMERS OF TAVISTOCK LIMITED
Company Information
for the year from 1 April 2023 to 31 March 2024

Director

BIRD, Duncan

Company Secretary

BIRD, Duncan

Registered Address

5 Lower Port View
Saltash
PL12 4BY

Registered Number

05022455 (England and Wales)
PALMERS OF TAVISTOCK LIMITED
Balance Sheet as at
31 March 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets49,98117,389
9,98117,389
Current assets
Debtors77,57174,688
Cash at bank and on hand9,6772,237
87,24876,925
Creditors amounts falling due within one year(95,133)(107,659)
Net current assets (liabilities)(7,885)(30,734)
Total assets less current liabilities2,096(13,345)
Net assets2,096(13,345)
Capital and reserves
Profit and loss account2,096(13,345)
Shareholders' funds2,096(13,345)
The financial statements were approved and authorised for issue by the Director on 16 December 2024, and are signed on its behalf by:
BIRD, Duncan
Director
Registered Company No. 05022455
PALMERS OF TAVISTOCK LIMITED
Notes to the Financial Statements
for the year ended 31 March 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in accordance with the Companies Act 2006 and FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland including Section 1A Small Entities.
Revenue from sale of goods
Revenue from the sale of goods is recognised when the company has transferred to the buyer the significant risks and rewards of ownership of the goods, usually when goods are delivered and legal title has passed. Providing the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transition can be measured reliably.
Employee benefits
Short-term employee benefits are measured at the undiscounted amount expected to be paid in exchange for the employee's services to the company. Where employees have accrued short-term benefits which the entity has not paid by the balance sheet date, an accrual is recognised within creditors: amounts falling due within one year together with an associated expense in profit or loss. The liabilities are classified as current obligations in the statement of financial position because they are expected to be settled wholly within twelve months after the end of the period.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Intangible assets
Intangible assets are stated at cost less accumulated amortisation and accumulated impairment losses. The assets are reviewed for impairment if the above factors indicate that the carrying amount may be impaired. Amortisation is included in 'administrative expenses' in the profit and loss account.
Tangible fixed assets and depreciation
All fixed assets are initially recorded at cost. Property, plant and equipment is used in the company's principal activity for the production and supply of goods or for administrative purposes and is stated in the balance sheet under the historic cost model. This model requires the assets to be stated at cost less amounts in respect of depreciation and less any accumulated impairment losses. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value (which is the expected amount that would currently be obtained from disposal of an asset, after deducting the estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life), over the useful economic life of the respective asset as follows:
Finance leases and hire purchase contracts
Assets held under finance leases which are leases where substantially all the risks and rewards of ownership of the asset have passed to the company, and hire purchase contracts are capitalised in the balance sheet. They are depreciated over the shorter of their useful lives or the term of the lease.
2.Average number of employees

20242023
Average number of employees during the year00
3.Intangible assets

Total

£
Cost or valuation
At 01 April 2340,000
At 31 March 2440,000
Amortisation and impairment
At 01 April 2340,000
At 31 March 2440,000
Net book value
At 31 March 24-
At 31 March 23-
4.Tangible fixed assets

Total

£
Cost or valuation
At 01 April 23233,729
Additions(2,415)
At 31 March 24231,314
Depreciation and impairment
At 01 April 23216,340
Charge for year8,287
On disposals(3,294)
At 31 March 24221,333
Net book value
At 31 March 249,981
At 31 March 2317,389