Registration number:
Palmtree Property Ltd
for the Year Ended 30 April 2024
Palmtree Property Ltd
Contents
Company Information |
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Balance Sheet |
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Notes to the Unaudited Financial Statements |
Palmtree Property Ltd
Company Information
Directors: |
Mr S S Gowda Ms S Gupta |
Registered office: |
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Registered number: |
13312896 |
Accountants: |
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Palmtree Property Ltd
(Registration number: 13312896)
Balance Sheet as at 30 April 2024
Note |
30.04.24 |
30.04.23 |
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£ |
£ |
£ |
£ |
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FIXED ASSETS |
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Investment property |
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CURRENT ASSETS |
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Debtors |
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Cash at bank and in hand |
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CREDITORS |
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Creditors within 1yr |
55,612 |
50,612 |
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Net current liabilities |
( |
( |
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Total assets less current liabilities |
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Creditors |
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Net liabilities |
( |
( |
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CAPITAL AND RESERVES |
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Called up share capital |
100 |
100 |
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Profit and loss account |
(19,924) |
(16,324) |
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Shareholders' deficit |
(19,824) |
(16,224) |
For the financial year ending 30 April 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
Directors' responsibilities:
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The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.
Approved and authorised by the
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Palmtree Property Ltd
Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024
1. |
General information |
The company is a private company limited by share capital, incorporated in England and Wales .
The address of its registered office is:
England
These financial statements were authorised for issue by the
2. |
Accounting policies |
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).The financial statements have been prepared under the historical cost convention and in accordance with FRS 105 'The Financial Reporting Standard applicable to the Micro-entities Regime'.
Basis of preparation
These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
The presentational currency is Pound Sterling (£).
Revenue recognition
Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.
The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.
Going concern
The financial statements have been prepared on a going concern basis, with the understanding that the directors and shareholders will continue to financially support the company for a period of not less than 12 months.
Palmtree Property Ltd
Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024 (continued)
2 |
Accounting policies (continued) |
Tax
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 statement of financial position date
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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
Investment property
3. |
Staff numbers |
The average number of persons employed by the company (including directors) during the year, was
4. |
Investment properties |
30.04.24 |
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At 1 May |
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Transfer |
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At 30 April |
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The property was valued at the year end on an open market basis by the directors.
Palmtree Property Ltd
Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024 (continued)
5. |
Creditors |
Creditors: amounts falling due within one year
30.04.24 |
30.04.23 |
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Due within one year |
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Accruals and deferred income |
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Other creditors |
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Included in other creditors is an amount of £54,676 owed to the directors on which no interest or repayment terms have been set.
Creditors: amounts falling due after more than one year
Note |
30.04.24 |
30.04.23 |
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Due after one year |
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Loans and borrowings |
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The mortgage is secured by a legal charge over the property.