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REGISTERED NUMBER: 07759445 (England and Wales)















Unaudited Financial Statements

for the Year Ended

31 July 2024

for

Palmers At Ullesthorpe Limited

Palmers At Ullesthorpe Limited (Registered number: 07759445)

Contents of the Financial Statements
for the Year Ended 31 July 2024










Page

Company Information 1

Chartered Accountants' Report 2

Balance Sheet 3

Notes to the Financial Statements 5


Palmers At Ullesthorpe Limited

Company Information
for the Year Ended 31 July 2024







DIRECTORS: C F J Jackson
R B Palmer
H Lee





REGISTERED OFFICE: 77 St Johns
Enderby
Leicester
Leicestershire
LE19 2BS





REGISTERED NUMBER: 07759445 (England and Wales)





ACCOUNTANTS: The Rowleys Partnership Ltd
Chartered Accountants
Charnwood House
Harcourt Way
Meridian Business Park
Leicester
Leicestershire
LE19 1WP

Chartered Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
Palmers At Ullesthorpe Limited


The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Palmers At Ullesthorpe Limited for the year ended 31 July 2024 which comprise the Income Statement, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Palmers At Ullesthorpe Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Palmers At Ullesthorpe Limited and state those matters that we have agreed to state to the Board of Directors of Palmers At Ullesthorpe Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Palmers At Ullesthorpe Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Palmers At Ullesthorpe Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Palmers At Ullesthorpe Limited. You consider that Palmers At Ullesthorpe Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Palmers At Ullesthorpe Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






The Rowleys Partnership Ltd
Chartered Accountants
Charnwood House
Harcourt Way
Meridian Business Park
Leicester
Leicestershire
LE19 1WP


28 April 2025

Palmers At Ullesthorpe Limited (Registered number: 07759445)

Balance Sheet
31 July 2024

31.7.24 31.7.23
Notes £    £    £   
FIXED ASSETS
Tangible assets 4 507,451 506,978
Investment property 5 105,000 105,000
612,451 611,978

CURRENT ASSETS
Stocks 364,296 461,047
Debtors 6 109,750 74,565
Cash at bank and in hand 440,757 249,023
914,803 784,635
CREDITORS
Amounts falling due within one year 7 164,190 119,132
NET CURRENT ASSETS 750,613 665,503
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,363,064

1,277,481

CREDITORS
Amounts falling due after more than
one year

8

(7,000

)

(8,000

)

PROVISIONS FOR LIABILITIES (75,713 ) (69,555 )
NET ASSETS 1,280,351 1,199,926

CAPITAL AND RESERVES
Called up share capital 9 1,000 1,000
Revaluation reserve 10 43,992 43,992
Retained earnings 10 1,235,359 1,154,934
SHAREHOLDERS' FUNDS 1,280,351 1,199,926

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 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.

Palmers At Ullesthorpe Limited (Registered number: 07759445)

Balance Sheet - continued
31 July 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 28 April 2025 and were signed on its behalf by:





H Lee - Director


Palmers At Ullesthorpe Limited (Registered number: 07759445)

Notes to the Financial Statements
for the Year Ended 31 July 2024


1. STATUTORY INFORMATION

Palmers At Ullesthorpe Limited 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 as modified by the revaluation of certain assets.

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 each asset over its estimated useful life.
Improvements to property - 2% on cost
Fixtures and fittings - 10%/33% straight line
Motor vehicles - 25% reducing balance
Computer equipment - 25% on cost

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing stock to its present location and condition. Cost is calculated using the first-in, first-out formula. Provision is made for damaged, obsolete and slow-moving stock where appropriate.

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.


Palmers At Ullesthorpe Limited (Registered number: 07759445)

Notes to the Financial Statements - continued
for the Year Ended 31 July 2024


2. ACCOUNTING POLICIES - continued
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.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 43 (2023 - 43 ) .

4. TANGIBLE FIXED ASSETS
Improvements Fixtures
to and Motor Computer
property fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 August 2023 535,958 612,987 55,135 3,736 1,207,816
Additions - 66,149 - - 66,149
At 31 July 2024 535,958 679,136 55,135 3,736 1,273,965
DEPRECIATION
At 1 August 2023 349,485 346,855 2,915 1,583 700,838
Charge for year 5,587 45,684 13,471 934 65,676
At 31 July 2024 355,072 392,539 16,386 2,517 766,514
NET BOOK VALUE
At 31 July 2024 180,886 286,597 38,749 1,219 507,451
At 31 July 2023 186,473 266,132 52,220 2,153 506,978

Palmers At Ullesthorpe Limited (Registered number: 07759445)

Notes to the Financial Statements - continued
for the Year Ended 31 July 2024


5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 August 2023
and 31 July 2024 105,000
NET BOOK VALUE
At 31 July 2024 105,000
At 31 July 2023 105,000

Fair value at 31 July 2024 is represented by:
£   
Valuation in 2016 45,000
Valuation in 2017 7,500
Cost 52,500
105,000

If investment property had not been revalued it would have been included at the following historical cost:

31.7.24 31.7.23
£    £   
Cost 52,500 52,500

Investment property was valued on an open market basis on 13 July 2021 by Rebuild Cost Assessment Limited .

This valuation was done on a desktop basis and was prepared on the basis of the cost to completely rebuild the property.

It is the directors opinion that the property as it stands, on an open market basis is less than the cost applicable to rebuild the property.

On this basis the directors deem it prudent to maintain the value of the property at the above amount.

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.24 31.7.23
£    £   
Trade debtors 14,599 25,883
Amounts owed by associates 74,547 29,534
Other debtors 1,500 2,150
Prepayments and accrued income 19,104 16,998
109,750 74,565

Palmers At Ullesthorpe Limited (Registered number: 07759445)

Notes to the Financial Statements - continued
for the Year Ended 31 July 2024


7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.24 31.7.23
£    £   
Trade creditors 97,739 67,514
Amounts owed to associates - 16,395
Corporation tax 17,897 -
Social security and other taxes 10,913 -
VAT 12,370 21,717
Other creditors - 123
Accruals and deferred income 25,271 13,383
164,190 119,132

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.7.24 31.7.23
£    £   
Deferred income 7,000 8,000

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number: Class: Nominal 2023 2022
Value: £ £
450 Ordinary A £1 450 450
50 Ordinary B £1 50 50
50 Ordinary C £1 50 50
450 Ordinary D £1 450 450
1,000 1,000

10. RESERVES


Revaluation
reserve
£
At 1 August 2022 43,992
Movement in the year-
At 31 July 202343,992

11. OTHER FINANCIAL COMMITMENTS

The company had total guarantees and commitments at the balance sheet date of £266,926 (2023: £366,859).

Palmers At Ullesthorpe Limited (Registered number: 07759445)

Notes to the Financial Statements - continued
for the Year Ended 31 July 2024


12. RELATED PARTY DISCLOSURES

At the year end, included in debtors are the amounts owed from associated companies amounting to £74,547 (2023: £29,534). Included in creditors is an amount of £Nil owed to (2023: £16,395 owed by) its associated company. The loans are interest free and repayable on demand.