Acorah Software Products - Accounts Production 16.1.300 false true 31 May 2023 1 June 2022 false 1 June 2023 31 May 2024 31 May 2024 SC078425 Mr John Morrison Mr Edward Talbot Mr John Morrison iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure SC078425 2023-05-31 SC078425 2024-05-31 SC078425 2023-06-01 2024-05-31 SC078425 frs-core:CurrentFinancialInstruments 2024-05-31 SC078425 frs-core:RevaluationReserve 2023-05-31 SC078425 frs-core:RevaluationReserve 2024-05-31 SC078425 frs-core:ShareCapital 2024-05-31 SC078425 frs-core:RetainedEarningsAccumulatedLosses 2024-05-31 SC078425 frs-bus:PrivateLimitedCompanyLtd 2023-06-01 2024-05-31 SC078425 frs-bus:FilletedAccounts 2023-06-01 2024-05-31 SC078425 frs-bus:SmallEntities 2023-06-01 2024-05-31 SC078425 frs-bus:AuditExempt-NoAccountantsReport 2023-06-01 2024-05-31 SC078425 frs-bus:SmallCompaniesRegimeForAccounts 2023-06-01 2024-05-31 SC078425 frs-core:ListedExchangeTraded 2024-05-31 SC078425 frs-core:ListedExchangeTraded 2023-05-31 SC078425 frs-core:CostValuation frs-core:ListedExchangeTraded 2023-05-31 SC078425 frs-core:CostValuation frs-core:ListedExchangeTraded 2024-05-31 SC078425 frs-core:ProvisionsForImpairmentInvestments frs-core:ListedExchangeTraded 2023-05-31 SC078425 frs-core:ProvisionsForImpairmentInvestments frs-core:ListedExchangeTraded 2024-05-31 SC078425 frs-bus:Director1 2023-06-01 2024-05-31 SC078425 frs-bus:Director2 2023-06-01 2024-05-31 SC078425 frs-bus:CompanySecretary1 2023-06-01 2024-05-31 SC078425 frs-countries:Scotland 2023-06-01 2024-05-31 SC078425 2022-05-31 SC078425 2023-05-31 SC078425 2022-06-01 2023-05-31 SC078425 frs-core:CurrentFinancialInstruments 2023-05-31 SC078425 frs-core:RevaluationReserve 2023-05-31 SC078425 frs-core:ShareCapital 2023-05-31 SC078425 frs-core:RetainedEarningsAccumulatedLosses 2023-05-31
Registered number: SC078425
Palmaire Developments Limited
Financial Statements
For The Year Ended 31 May 2024
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—4
Page 1
Balance Sheet
Registered number: SC078425
2024 2023
Notes £ £ £ £
FIXED ASSETS
Investment Properties 4 115,000 115,000
Investments 5 11,000 11,000
126,000 126,000
CURRENT ASSETS
Cash at bank and in hand 25,885 20,922
25,885 20,922
Creditors: Amounts Falling Due Within One Year 6 (4,402 ) (4,877 )
NET CURRENT ASSETS (LIABILITIES) 21,483 16,045
TOTAL ASSETS LESS CURRENT LIABILITIES 147,483 142,045
NET ASSETS 147,483 142,045
CAPITAL AND RESERVES
Called up share capital 7 102 102
Revaluation reserve 8 28,934 28,934
Profit and Loss Account 118,447 113,009
SHAREHOLDERS' FUNDS 147,483 142,045
Page 1
Page 2
For the year ending 31 May 2024 the company was entitled to exemption from audit 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.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr John Morrison
Director
26th January 2025
The notes on pages 3 to 4 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Palmaire Developments Limited is a private company, limited by shares, incorporated in Scotland, registered number SC078425 . The registered office is Unit 4 Sir James Clark Building, Abbey Mill Business Centre, Paisley, PA1 1TJ.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Investment Properties
All investment properties are carried at fair value determined annually and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided for. Changes in fair value are recognised in the profit and loss account.
2.4. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other year and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 1 (2023: 1)
1 1
4. Investment Property
2024
£
Fair Value
As at 1 June 2023 and 31 May 2024 115,000
Page 3
Page 4
5. Investments
Listed
£
Cost
As at 1 June 2023 11,000
As at 31 May 2024 11,000
Provision
As at 1 June 2023 -
As at 31 May 2024 -
Net Book Value
As at 31 May 2024 11,000
As at 1 June 2023 11,000
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Other creditors 780 728
Taxation and social security 3,622 4,149
4,402 4,877
7. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 102 102
8. Reserves
Revaluation Reserve
£
As at 1 June 2023 28,934
As at 31 May 2024 28,934
Page 4