0 false false false false false false false false false true false false false false false false No description of principal activity 2023-08-01 Sage Accounts Production Advanced 2023 - FRS102_2023 30,909 30,909 30,909 xbrli:pure xbrli:shares iso4217:GBP 14240160 2023-08-01 2024-07-31 14240160 2024-07-31 14240160 2023-07-31 14240160 2022-08-01 2023-07-31 14240160 2023-07-31 14240160 2022-07-31 14240160 bus:Director1 2023-08-01 2024-07-31 14240160 bus:Director2 2023-08-01 2024-07-31 14240160 bus:Director3 2023-08-01 2024-07-31 14240160 bus:Director4 2023-08-01 2024-07-31 14240160 bus:Director5 2023-08-01 2024-07-31 14240160 core:LandBuildings 2023-08-01 2024-07-31 14240160 core:WithinOneYear 2024-07-31 14240160 core:WithinOneYear 2023-07-31 14240160 core:RetainedEarningsAccumulatedLosses 2024-07-31 14240160 core:RetainedEarningsAccumulatedLosses 2023-07-31 14240160 core:LandBuildings 2024-07-31 14240160 bus:Director1 2024-07-31 14240160 bus:Director2 2024-07-31 14240160 bus:Director3 2023-07-31 14240160 bus:Director3 2024-07-31 14240160 bus:Director4 2024-07-31 14240160 bus:Director5 2024-07-31 14240160 bus:Director3 2023-07-31 14240160 bus:Director3 2022-08-01 2023-07-31 14240160 bus:SmallEntities 2023-08-01 2024-07-31 14240160 bus:AuditExempt-NoAccountantsReport 2023-08-01 2024-07-31 14240160 bus:SmallCompaniesRegimeForAccounts 2023-08-01 2024-07-31 14240160 bus:CompanyLimitedByGuarantee 2023-08-01 2024-07-31 14240160 bus:FullAccounts 2023-08-01 2024-07-31
COMPANY REGISTRATION NUMBER: 14240160
Palmer House Freeholders Ltd
Company Limited by Guarantee
Filleted Unaudited Financial Statements
31 July 2024
Palmer House Freeholders Ltd
Company Limited by Guarantee
Statement of Financial Position
31 July 2024
2024
2023
Note
£
£
£
Fixed assets
Tangible assets
5
30,909
Current assets
Debtors
6
63
Cash at bank and in hand
139
----
----
202
Creditors: amounts falling due within one year
7
32,341
695
--------
----
Net current liabilities
32,139
695
--------
----
Total assets less current liabilities
( 1,230)
( 695)
-------
----
Net liabilities
( 1,230)
( 695)
-------
----
Capital and reserves
Profit and loss account
( 1,230)
( 695)
-------
----
Members deficit
( 1,230)
( 695)
-------
----
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 31 July 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Palmer House Freeholders Ltd
Company Limited by Guarantee
Statement of Financial Position (continued)
31 July 2024
These financial statements were approved by the board of directors and authorised for issue on 4 November 2024 , and are signed on behalf of the board by:
Ms J Brazier
A Durant-Pritchard Esq
Director
Director
Mrs K Durant-Pritchard
Mrs D Greenhill
Director
Director
C Haley Esq
Director
Company registration number: 14240160
Palmer House Freeholders Ltd
Company Limited by Guarantee
Notes to the Financial Statements
Year ended 31 July 2024
1. General information
The company is a private company limited by guarantee, registered in England and Wales. The address of the registered office is TML House, 1a The Anchorage, Gosport, PO121LY, England.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
4. Company limited by guarantee
Every member of the Company undertakes to contribute such amount as may be required (not exceeding £1) to the company's assets if it should be wound up whilst he or she is a member or within one year of ceasing to be a member, for payment of the company’s debts and liabilities contracted before they ceased to be a member, and of the costs, charges and expenses of winding up, and for the adjustment of the rights of the contributories among themselves.
5. Tangible assets
Land and buildings
£
Cost
At 1 August 2023
Additions
30,909
--------
At 31 July 2024
30,909
--------
Depreciation
At 1 August 2023 and 31 July 2024
--------
Carrying amount
At 31 July 2024
30,909
--------
At 31 July 2023
--------
6. Debtors
2024
2023
£
£
Trade debtors
63
----
----
7. Creditors: amounts falling due within one year
2024
2023
£
£
Other creditors
32,341
695
--------
----
8. Directors' advances, credits and guarantees
During the year the directors entered into the following advances and credits with the company:
2024
Balance brought forward
Advances/ (credits) to the directors
Balance outstanding
£
£
£
Ms J Brazier
( 7,727)
( 7,727)
A Durant-Pritchard Esq
( 3,864)
( 3,864)
Mrs K Durant-Pritchard
( 25)
( 3,864)
( 3,889)
Mrs D Greenhill
( 7,727)
( 7,727)
C Haley Esq
( 8,397)
( 8,397)
----
--------
--------
( 25)
( 31,579)
( 31,604)
----
--------
--------
2023
Balance brought forward
Advances/ (credits) to the directors
Balance outstanding
£
£
£
Ms J Brazier
A Durant-Pritchard Esq
Mrs K Durant-Pritchard
( 25)
( 25)
Mrs D Greenhill
C Haley Esq
----
----
----
( 25)
( 25)
----
----
----