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REGISTERED NUMBER: 00538257 (England and Wales)









Unaudited Financial Statements

for the Year Ended 30 September 2024

for

A.T. Palmer (Builders & Contractors) Ltd

A.T. Palmer (Builders & Contractors) Ltd (Registered number: 00538257)






Contents of the Financial Statements
for the Year Ended 30 September 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


A.T. Palmer (Builders & Contractors) Ltd

Company Information
for the Year Ended 30 September 2024







DIRECTORS: M A Palmer
S R Palmer





SECRETARY: Mrs N J Palmer





REGISTERED OFFICE: Smarden Business Estate
Monks Hill Smarden
Ashford
Kent
TN27 8QL





REGISTERED NUMBER: 00538257 (England and Wales)





ACCOUNTANTS: Nichols & Co ( Accountancy ) Limited
Chartered Accountants
Unit 7
Mulberry Place
Pinnell Road
Eltham
London
SE9 6AR

A.T. Palmer (Builders & Contractors) Ltd (Registered number: 00538257)

Balance Sheet
30 September 2024

30.9.24 30.9.23
Notes £ £
FIXED ASSETS
Tangible assets 4 143,418 138,802

CURRENT ASSETS
Stocks 529,103 598,319
Debtors 5 52,410 156,340
Cash at bank 161,229 69,541
742,742 824,200
CREDITORS
Amounts falling due within one year 6 (520,171 ) (656,913 )
NET CURRENT ASSETS 222,571 167,287
TOTAL ASSETS LESS CURRENT
LIABILITIES

365,989

306,089

CREDITORS
Amounts falling due after more than one
year

7

(112,951

)

(119,301

)

PROVISIONS FOR LIABILITIES 9 - (7,022 )
NET ASSETS 253,038 179,766

CAPITAL AND RESERVES
Called up share capital 10 18,000 18,000
Revaluation reserve 11 45,304 59,368
Retained earnings 11 189,734 102,398
SHAREHOLDERS' FUNDS 253,038 179,766

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 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.

A.T. Palmer (Builders & Contractors) Ltd (Registered number: 00538257)

Balance Sheet - continued
30 September 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 26 March 2025 and were signed on its behalf by:





S R Palmer - Director


A.T. Palmer (Builders & Contractors) Ltd (Registered number: 00538257)

Notes to the Financial Statements
for the Year Ended 30 September 2024

1. STATUTORY INFORMATION

A.T. Palmer (Builders & Contractors) Ltd 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 the cost less estimated residual value of each asset over its estimated useful life.
Plant and machinery - 10% on reducing balance
Fixtures and fittings - 10% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 33% on reducing balance

STOCKS
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.

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.

HIRE PURCHASE AND LEASING COMMITMENTS
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

A.T. Palmer (Builders & Contractors) Ltd (Registered number: 00538257)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2024

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 38 (2023 - 38 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Improvements Plant and and
to property machinery fittings
£ £ £
COST
At 1 October 2023 14,954 47,149 62,488
Additions - - -
Disposals - - -
At 30 September 2024 14,954 47,149 62,488
DEPRECIATION
At 1 October 2023 14,954 44,744 62,396
Charge for year - 241 9
Eliminated on disposal - - -
At 30 September 2024 14,954 44,985 62,405
NET BOOK VALUE
At 30 September 2024 - 2,164 83
At 30 September 2023 - 2,405 92

Motor Computer
vehicles equipment Totals
£ £ £
COST
At 1 October 2023 223,545 40,212 388,348
Additions 62,328 - 62,328
Disposals (42,500 ) - (42,500 )
At 30 September 2024 243,373 40,212 408,176
DEPRECIATION
At 1 October 2023 87,324 40,128 249,546
Charge for year 35,451 27 35,728
Eliminated on disposal (20,516 ) - (20,516 )
At 30 September 2024 102,259 40,155 264,758
NET BOOK VALUE
At 30 September 2024 141,114 57 143,418
At 30 September 2023 136,221 84 138,802

A.T. Palmer (Builders & Contractors) Ltd (Registered number: 00538257)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2024

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.9.24 30.9.23
£ £
Trade debtors 46,497 148,739
Other debtors 790 445
Deferred tax asset 1,621 -
Prepayments 3,502 7,156
52,410 156,340

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.9.24 30.9.23
£ £
Bank loans and overdrafts (see note 8) 21,026 21,026
Hire purchase contracts 10,326 9,978
Trade creditors 281,298 322,810
Social security and other taxes 57,134 50,166
VAT 119,017 195,662
Other creditors 8,006 5,967
Directors' current accounts 21,514 51,304
Accrued expenses 1,850 -
520,171 656,913

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30.9.24 30.9.23
£ £
Bank loans (see note 8) 94,453 113,818
Hire purchase contracts 18,498 5,483
112,951 119,301

8. LOANS

An analysis of the maturity of loans is given below:

30.9.24 30.9.23
£ £
Amounts falling due within one year or on demand:
Bounce Back Loan / Bank Loan 21,026 21,026

Amounts falling due between two and five years:
Bank loans - 2-5 years 94,453 113,818

The bank loan and overdraft are secured by way of both fixed and floating charges over the company's assets. Furthermore, Mr M A Palmer and Mr S R Palmer, directors of the company, have provided additional security by way of fixed charges over certain personally owed freehold land and property.

9. PROVISIONS FOR LIABILITIES
30.9.23
£
Deferred tax 7,022

A.T. Palmer (Builders & Contractors) Ltd (Registered number: 00538257)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2024

9. PROVISIONS FOR LIABILITIES - continued

Deferred tax
£
Balance at 1 October 2023 7,022
Provided during year (8,643 )
Balance at 30 September 2024 (1,621 )

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 30.9.24 30.9.23
value: £ £
18,000 Ordinary £1 18,000 18,000

11. RESERVES
Retained Revaluation
earnings reserve Totals
£ £ £

At 1 October 2023 102,398 59,368 161,766
Profit for the year 73,272 73,272
Revaluation 14,064 (14,064 ) -
At 30 September 2024 189,734 45,304 235,038

12. RELATED PARTY DISCLOSURES

The freehold premises occupied by the company are owned by Mr and Mrs S R Palmer, for which rent is charged. During the year, rent totalling £24,900 (2023: £23,400) was paid to Mr and Mrs S R Palmer.

As described in 'Loans' note to the accounts, assets owned by Mr M A Palmer and Mr S R Palmer, directors of the company, have been provided as security over the company's banking facilities.

Included in current liabilities is an amount of £21,514 (2023: £51,304), which represents a loan made to the company by Mr S R Palmer. No interest has been charged on the outstanding loan.

13. ULTIMATE CONTROLLING PARTY

The controlling party is S R Palmer.