PALMBROOK PROPERTIES LIMITED

Company Registration Number:
12894987 (England and Wales)

Unaudited abridged accounts for the year ended 30 September 2024

Period of accounts

Start date: 01 October 2023

End date: 30 September 2024

PALMBROOK PROPERTIES LIMITED

Contents of the Financial Statements

for the Period Ended 30 September 2024

Company Information - 3
Balance sheet - 4
Additional notes - 6
Balance sheet notes - 9

PALMBROOK PROPERTIES LIMITED

Company Information

for the Period Ended 30 September 2024




Director: S Palmer
J Palmer
D J Palmer
Registered office: 5 Muirfield
Great Denham
Bedfordshire
GBR
MK40 4FB
Company Registration Number: 12894987 (England and Wales)

PALMBROOK PROPERTIES LIMITED

Balance sheet

As at 30 September 2024


Notes

2024
£

2023
£
Fixed assets
Total fixed assets: - -
Current assets
Stocks: 313,209 307,709
Debtors: 4 24,344
Cash at bank and in hand: 668,075 2,713
Total current assets: 1,005,628 310,422
Creditors: amounts falling due within one year: ( 1,005,528 ) ( 310,322 )
Net current assets (liabilities): 100 100
Total assets less current liabilities: 100 100
Total net assets (liabilities): 100 100

The notes form part of these financial statements

PALMBROOK PROPERTIES LIMITED

Balance sheet continued

As at 30 September 2024


Notes

2024
£

2023
£
Capital and reserves
Called up share capital: 100 100
Shareholders funds: 100 100

For the year ending 30 September 2024 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A).

These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

This report was approved by the board of directors on 6 February 2025
And Signed On Behalf Of The Board By:

Name: S Palmer
Status: Director

The notes form part of these financial statements

PALMBROOK PROPERTIES LIMITED

Notes to the Financial Statements

for the Period Ended 30 September 2024

  • 1. Accounting policies

    Basis of measurement and preparation

    These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

    Other accounting policies

    STOCKS Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads. At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss. DEBTORS Short term debtors are measured at transaction price, less any impairment. CASH AND CASH EQUIVALENTS Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value. FINANCIAL INSTRUMENTS The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments. Financial instruments are recognised in the Company's Balance Sheet when the Company becomes party to the contractual provisions of the instrument. Basic financial assets, which include trade and other debtors, cash and bank balances, are initially measured at their transaction price (adjusted for transaction costs except in the initial measurement of financial assets that are subsequently measured at fair value through profit and loss) and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other debtors due with the operating cycle fall into this category of financial instruments. Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after the deduction of all its liabilities. Basic financial liabilities, which include trade and other creditors, bank loans and other loans are initially measured at their transaction price (adjusting for transaction costs except in the initial measurement of financial liabilities that are subsequently measured at fair value through profit and loss). When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future payments discounted at a market rate of interest, discounting is omitted where the effect of discounting is immaterial. Debt instruments are subsequently carried at their amortised cost using the effective interest rate method. Trade creditors are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade creditors are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial. CREDITORS Short term creditors are measured at the transaction price

PALMBROOK PROPERTIES LIMITED

Notes to the Financial Statements

for the Period Ended 30 September 2024

  • 2. Employees


    2024

    2023
    Average number of employees during the period 3 3

    The average monthly number of employees, including directors, during the year was 3 (2023 - 3).

PALMBROOK PROPERTIES LIMITED

Notes to the Financial Statements

for the Period Ended 30 September 2024

  • 3. Off balance sheet disclosure

    No

PALMBROOK PROPERTIES LIMITED

Notes to the Financial Statements

for the Period Ended 30 September 2024

  • 4. Debtors

    Debtors consist of £24,344 (2023 - £Nil) in relation to amounts owed by group undertakings.

PALMBROOK PROPERTIES LIMITED

Notes to the Financial Statements

for the Period Ended 30 September 2024

5.1.Related party disclosures

Name of related party: S Palmer
Description of relationship:
Director of the company
Description of the transaction:
During the year the company operated a loan account with Mr S Palmer, a director of the company.
Balance at 01 October 2023 66,450
Balance at 30 September 2024 506,314

Name of related party: J Palmer
Description of relationship:
Director of the company
Description of the transaction:
During the year the company operated a loan account with Mr J Palmer, a director of the company
Balance at 01 October 2023 74,950
Balance at 30 September 2024 499,214

PALMBROOK PROPERTIES LIMITED

Notes to the Financial Statements

for the Period Ended 30 September 2024

5.2.Related party disclosures

Name of related party: D J Palmer
Description of relationship:
Director of the company
Description of the transaction:
During the year the company operated a loan account with Mr D J Palmer, a director of the company
Balance at 01 October 2023 168,922
Balance at 30 September 2024 0

Name of related party: Palmbrook Property Developments Limited
Description of relationship:
Palmbrook Property Developments Limited is a wholly owned subsidiary company of Palmbrook Properties Limited and a company in which Mr S Palmer and Mr J Palmer are also directors.
Description of the transaction:
During the year the company loaned money to Palmbrook Property Developments Limited.
Balance at 01 October 2023 0
Balance at 30 September 2024 24,344