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REGISTERED NUMBER: 02937116 (England and Wales)















Palmer (Fencing) Limited

Unaudited Financial Statements

For The Year Ended 30 April 2024






Palmer (Fencing) Limited (Registered number: 02937116)

Contents of the Financial Statements
For The Year Ended 30 April 2024










Page

Company Information 1

Balance Sheet 2 to 3

Notes to the Financial Statements 4 to 7


Palmer (Fencing) Limited

Company Information
For The Year Ended 30 April 2024







DIRECTORS: D S Palmer
G B Flory
Mrs H Palmer-Flory
M Cann
Mrs M K Palmer-Hill





SECRETARY:





REGISTERED OFFICE: Unit 81 Centaur Court
Claydon Business Park
Gt. Blakenham
Ipswich
Suffolk
IP6 0NL





REGISTERED NUMBER: 02937116 (England and Wales)





ACCOUNTANTS: John Phillips & Co Limited
Accountants
Unit 81 Centaur Court
Claydon Business Park
Gt. Blakenham
Ipswich
Suffolk
IP6 0NL

Palmer (Fencing) Limited (Registered number: 02937116)

Balance Sheet
30 April 2024

30.4.24 30.4.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 709,131 712,370

CURRENT ASSETS
Stocks 5 793,857 728,143
Debtors 6 963,832 973,908
Cash at bank and in hand 670,851 976,697
2,428,540 2,678,748
CREDITORS
Amounts falling due within one year 7 402,132 762,109
NET CURRENT ASSETS 2,026,408 1,916,639
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,735,539

2,629,009

CREDITORS
Amounts falling due after more than one
year

8

406,320

455,881
NET ASSETS 2,329,219 2,173,128

CAPITAL AND RESERVES
Called up share capital 9 103 103
Retained earnings 2,329,116 2,173,025
SHAREHOLDERS' FUNDS 2,329,219 2,173,128

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.

Palmer (Fencing) Limited (Registered number: 02937116)

Balance Sheet - continued
30 April 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 22 January 2025 and were signed on its behalf by:





G B Flory - Director


Palmer (Fencing) Limited (Registered number: 02937116)

Notes to the Financial Statements
For The Year Ended 30 April 2024


1. STATUTORY INFORMATION

Palmer (Fencing) 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.
Plant and machinery - 25% on reducing balance
Office equipment - 25% on reducing balance
Motor vehicles - 25% on reducing balance

Stocks
Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

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.


Palmer (Fencing) Limited (Registered number: 02937116)

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


2. ACCOUNTING POLICIES - continued
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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 44 (2023 - 37 ) .

4. TANGIBLE FIXED ASSETS
Traffic
Plant and Office Motor Management
machinery equipment vehicles Equipment Totals
£    £    £    £    £   
COST
At 1 May 2023 196,580 92,452 1,196,547 18,254 1,503,833
Additions 2,197 1,212 177,380 240 181,029
At 30 April 2024 198,777 93,664 1,373,927 18,494 1,684,862
DEPRECIATION
At 1 May 2023 123,521 50,298 609,339 8,305 791,463
Charge for year 17,774 4,830 161,664 - 184,268
At 30 April 2024 141,295 55,128 771,003 8,305 975,731
NET BOOK VALUE
At 30 April 2024 57,482 38,536 602,924 10,189 709,131
At 30 April 2023 73,059 42,154 587,208 9,949 712,370

Palmer (Fencing) Limited (Registered number: 02937116)

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


5. STOCKS
30.4.24 30.4.23
£    £   
Stock and Work-in-progress 793,857 728,143

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.4.24 30.4.23
£    £   
Trade debtors 765,157 752,439
Amounts owed by group undertakings 179,917 179,882
Other debtors 18,758 41,587
963,832 973,908

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.4.24 30.4.23
£    £   
Bank loans and overdrafts 645 -
Hire purchase contracts 71,963 22,367
Trade creditors 158,344 351,856
Taxation and social security 171,180 186,252
Other creditors - 201,634
402,132 762,109

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
30.4.24 30.4.23
£    £   
Hire purchase contracts 56,320 19,381
Amounts owed to group undertakings 350,000 436,500
406,320 455,881

Palmer (Fencing) Limited (Registered number: 02937116)

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


9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 30.4.24 30.4.23
value: £    £   
100 Ordinary £1 100 100
1 Ordinary ''B'' Non-voting £1 1 1
1 Ordinary ''C'' Non-voting £1 1 1
1 Ordinary ''D'' Non-voting £1 1 1
103 103