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REGISTERED NUMBER: 10120961 (England and Wales)















Unaudited Financial Statements for the Year Ended 30 April 2024

for

Palmier Ltd

Palmier Ltd (Registered number: 10120961)






Contents of the Financial Statements
for the Year Ended 30 April 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Palmier Ltd

Company Information
for the Year Ended 30 April 2024







DIRECTORS: Mrs M J Gosman
Dr A D Gosman
Mr L Meakin





SECRETARY: Mrs M J Gosman





REGISTERED OFFICE: Greenstedes
Marden Paddock
Brockenhurst
Hampshire
SO42 7SU





REGISTERED NUMBER: 10120961 (England and Wales)





ACCOUNTANTS: Wilson Partners Limited
Chartered Accountants
TOR
Saint-Cloud Way
Maidenhead
Berkshire
SL6 8BN

Palmier Ltd (Registered number: 10120961)

Balance Sheet
30 April 2024

30.4.24 30.4.23
as restated
Notes £    £   
FIXED ASSETS
Investments 4 18,748,728 18,366,270

CURRENT ASSETS
Debtors 5 62,152 32,081
Investments 6 730,637 235,487
Cash at bank 15,105,856 14,838,764
15,898,645 15,106,332
CREDITORS
Amounts falling due within one year 7 (30,099,254 ) (29,856,890 )
NET CURRENT LIABILITIES (14,200,609 ) (14,750,558 )
TOTAL ASSETS LESS CURRENT LIABILITIES 4,548,119 3,615,712

PROVISIONS FOR LIABILITIES (714,081 ) (651,521 )
NET ASSETS 3,834,038 2,964,191

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 3,833,938 2,964,091
3,834,038 2,964,191

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 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.

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 22 January 2025 and were signed on its behalf by:





Mr L Meakin - Director


Palmier Ltd (Registered number: 10120961)

Notes to the Financial Statements
for the Year Ended 30 April 2024

1. STATUTORY INFORMATION

Palmier Ltd 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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 as modified by the revaluation of certain assets.

Significant judgements and estimates
In the application of the company's accounting policies the directors are required to make judgement estimates and assumptions about the carrying amounts of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual result may differ from these estimates.

The estimates are underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects on that period, or in the period of the revision and future period if the revision affects both current and future periods.

The company does not make significant estimates and assumptions concerning the future that affects the position shown in the financial statements.

Turnover
Turnover relates to investment income generated from the company's principal activity of making investments and recognised when the company has the right to receive the income.

Financial instruments
Basic financial instruments are recognised at amortised cost using the effective interest method, except for investments in non-convertible preference and non-puttable preference and ordinary shares, which are measured at fair value, with changes recognised in profit or loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value, with changes recognised in profit and loss.

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.

Palmier Ltd (Registered number: 10120961)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024

2. ACCOUNTING POLICIES - continued

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Investments
Investments are initially recognised at cost. With the exception of investments which qualify as basic financial instruments which are accounted for in accordance with the accounting policy for financial instruments, investments are revalued at the balance sheet date to fair value with any gain or loss arising being reported through the income statement.

3. EMPLOYEES AND DIRECTORS

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

4. FIXED ASSET INVESTMENTS

30.4.24 30.4.23
as restated
£    £   
Other investments not loans 17,537,653 16,805,727
Other loans 1,211,075 1,560,543
18,748,728 18,366,270

Additional information is as follows:
Other
investments
£   
COST OR VALUATION
At 1 May 2023 16,805,727
Additions 2,755,506
Disposals (1,500,099 )
Revaluations (523,481 )
At 30 April 2024 17,537,653
NET BOOK VALUE
At 30 April 2024 17,537,653
At 30 April 2023 16,805,727

Cost or valuation at 30 April 2024 is represented by:

Other
investments
£   
Valuation in 2024 2,856,325
Cost 14,681,328
17,537,653

Palmier Ltd (Registered number: 10120961)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024
Other
loans
£   
At 1 May 2023 1,560,543
New in year (349,468 )
At 30 April 2024 1,211,075

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.4.24 30.4.23
as restated
£    £   
Other debtors 62,152 32,081

6. CURRENT ASSET INVESTMENTS
30.4.24 30.4.23
as restated
£    £   
Other 730,637 235,487

Current asset investments relate to the company's holdings of government-issued bonds with a maturity of less than 12 months from the balance sheet date.

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.4.24 30.4.23
as restated
£    £   
Bank loans and overdrafts 1 1
Taxation and social security 263,034 39,745
Other creditors 29,836,219 29,817,144
30,099,254 29,856,890

8. RELATED PARTY DISCLOSURES

As at the year end the company owed balances due to directors of £29,806,759 (2023: £29,798,659). Amounts are unsecured, interest free and repayable on demand.

9. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Dr A D Gosman.