2 2 Charles Palmer Property Limited 06630583 false 2023-07-01 2024-06-30 2024-06-30 The principal activity of the company is that of property consultants. Digita Accounts Production Advanced 6.30.9574.0 true 06630583 2023-07-01 2024-06-30 06630583 2024-06-30 06630583 bus:OrdinaryShareClass1 bus:Non-cumulativeShares 2024-06-30 06630583 core:CurrentFinancialInstruments 2024-06-30 06630583 core:CurrentFinancialInstruments core:WithinOneYear 2024-06-30 06630583 core:FurnitureFittings 2024-06-30 06630583 bus:SmallEntities 2023-07-01 2024-06-30 06630583 bus:AuditExemptWithAccountantsReport 2023-07-01 2024-06-30 06630583 bus:FilletedAccounts 2023-07-01 2024-06-30 06630583 bus:SmallCompaniesRegimeForAccounts 2023-07-01 2024-06-30 06630583 bus:RegisteredOffice 2023-07-01 2024-06-30 06630583 bus:Director1 2023-07-01 2024-06-30 06630583 bus:OrdinaryShareClass1 bus:Non-cumulativeShares 2023-07-01 2024-06-30 06630583 bus:PrivateLimitedCompanyLtd 2023-07-01 2024-06-30 06630583 core:FurnitureFittings 2023-07-01 2024-06-30 06630583 core:OfficeEquipment 2023-07-01 2024-06-30 06630583 countries:UnitedKingdom 2023-07-01 2024-06-30 06630583 2023-06-30 06630583 core:FurnitureFittings 2023-06-30 06630583 2022-07-01 2023-06-30 06630583 2023-06-30 06630583 bus:OrdinaryShareClass1 bus:Non-cumulativeShares 2023-06-30 06630583 core:CurrentFinancialInstruments 2023-06-30 06630583 core:CurrentFinancialInstruments core:WithinOneYear 2023-06-30 06630583 core:FurnitureFittings 2023-06-30 xbrli:pure iso4217:GBP xbrli:shares

Registration number: 06630583

Charles Palmer Property Limited

Unaudited Filleted Financial Statements

for the Year Ended 30 June 2024

 

Charles Palmer Property Limited

(Registration number: 06630583)
Balance Sheet as at 30 June 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

2,067

626

Current assets

 

Debtors

6

30,313

32,896

Cash at bank and in hand

 

385

78,614

 

30,698

111,510

Creditors: Amounts falling due within one year

7

(20,438)

(21,719)

Net current assets

 

10,260

89,791

Net assets

 

12,327

90,417

Capital and reserves

 

Called up share capital

5

100

100

Retained earnings

12,227

90,317

Shareholders' funds

 

12,327

90,417

For the financial 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.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

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

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 14 March 2025 and signed on its behalf by:
 

.........................................
Mr Charles David Hiley Palmer
Director

 

Charles Palmer Property Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

1

General information

The company is a private company limited by share capital, incorporated in United Kingdom.

The address of its registered office is:
3rd Floor
166 College Road
Harrow
Middlesex
HA1 1BH

These financial statements were authorised for issue by the Board on 14 March 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

Charles Palmer Property Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Fixtures, Fittings & Equipment

25% straight line

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2023 - 2).

 

Charles Palmer Property Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

4

Tangible assets

Fixtures, Fittings & Equipment
£

Total
£

Cost or valuation

At 1 July 2023

653

653

Additions

1,638

1,638

At 30 June 2024

2,291

2,291

Depreciation

At 1 July 2023

27

27

Charge for the year

197

197

At 30 June 2024

224

224

Carrying amount

At 30 June 2024

2,067

2,067

At 30 June 2023

626

626

 

Charles Palmer Property Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

5

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary Shares of £1 each

100

100

100

100

       

6

Debtors

Current

2024
£

2023
£

Trade debtors

-

2,400

Other debtors

30,313

30,496

 

30,313

32,896

7

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Taxation and social security

1,248

-

Accruals and deferred income

2,700

5,150

Other creditors

16,490

16,569

20,438

21,719

8

Related party transactions

During the year, the company made the following related party transactions:

Director
At the balance sheet date, the amount due to the Director was £80. The loans were interest free and repayable on demand (2023: £240).


Company under common control
At the balance sheet date, the amount due to the company under control was £14,699 (2023: £14,699). The loans were interest free and repayable on demand.