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Company Registration No. 12652447 (England and Wales)
Palmer Industries Limited Unaudited accounts for the year ended 30 June 2024
Palmer Industries Limited Unaudited accounts Contents
Page
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Palmer Industries Limited Company Information for the year ended 30 June 2024
Director
Hamiyar Salim Rashid
Company Number
12652447 (England and Wales)
Registered Office
27 Old Gloucester Street London WC1N 3AX England
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Palmer Industries Limited Statement of financial position as at 30 June 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Intangible assets
59,469 
68,034 
Tangible assets
59,143 
68,999 
118,612 
137,033 
Current assets
Inventories
26,587 
27,812 
Debtors
62,385 
52,820 
Cash at bank and in hand
18,520 
14,500 
107,492 
95,132 
Creditors: amounts falling due within one year
(224,556)
(244,340)
Net current liabilities
(117,064)
(149,208)
Net assets/(liabilities)
1,548 
(12,175)
Capital and reserves
Called up share capital
1 
1 
Profit and loss account
1,547 
(12,176)
Shareholders' funds
1,548 
(12,175)
For the year ending 30 June 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 director acknowledges his 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 and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 1 July 2024 and were signed on its behalf by
Hamiyar Salim Rashid Director Company Registration No. 12652447
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Palmer Industries Limited Notes to the Accounts for the year ended 30 June 2024
1
Statutory information
Palmer Industries Limited is a private company, limited by shares, registered in England and Wales, registration number 12652447. The registered office is 27 Old Gloucester Street, , London, WC1N 3AX, England.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
10
Intangible fixed assets
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation.
4
Intangible fixed assets
Other 
£ 
Cost
At 1 July 2023
85,164 
At 30 June 2024
85,164 
Amortisation
At 1 July 2023
17,130 
Charge for the year
8,565 
At 30 June 2024
25,695 
Net book value
At 30 June 2024
59,469 
At 30 June 2023
68,034 
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Palmer Industries Limited Notes to the Accounts for the year ended 30 June 2024
5
Tangible fixed assets
Plant & machinery 
£ 
Cost or valuation
At cost 
At 1 July 2023
98,567 
At 30 June 2024
98,567 
Depreciation
At 1 July 2023
29,568 
Charge for the year
9,856 
At 30 June 2024
39,424 
Net book value
At 30 June 2024
59,143 
At 30 June 2023
68,999 
6
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
Trade debtors
62,385 
52,820 
7
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
VAT
21,586 
19,821 
Trade creditors
119,459 
123,521 
Taxes and social security
12,487 
16,214 
Other creditors
27,894 
34,115 
Loans from directors
21,650 
28,650 
Accruals
21,480 
22,019 
224,556 
244,340 
8
Average number of employees
During the year the average number of employees was 6 (2023: 6).
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