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REGISTERED NUMBER: 06597545 (England and Wales)















GEORGE A. PALMER LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2024






GEORGE A. PALMER LIMITED (REGISTERED NUMBER: 06597545)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024




Page

Company Information 1

Statement of Financial Position 2 to 3

Notes to the Financial Statements 4 to 7


GEORGE A. PALMER LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 SEPTEMBER 2024







DIRECTORS: M R N Palmer
D M Palmer
L D B Palmer





REGISTERED OFFICE: Manor Farm
Manor Lane
Peckleton
Leicestershire
LE9 7RJ





REGISTERED NUMBER: 06597545 (England and Wales)





ACCOUNTANTS: Duncan & Toplis Limited
4 Henley Way
Doddington Road
Lincoln
Lincolnshire
LN6 3QR

GEORGE A. PALMER LIMITED (REGISTERED NUMBER: 06597545)

STATEMENT OF FINANCIAL POSITION
30 SEPTEMBER 2024

30.9.24 30.9.23
Notes £    £    £   
FIXED ASSETS
Intangible assets 4 111,740 166,130
Tangible assets 5 - -
Investments 6 5,561 281
117,301 166,411

CURRENT ASSETS
Debtors 7 133,853 33,696
Cash at bank 992 412
134,845 34,108
CREDITORS
Amounts falling due within one year 8 280,265 214,252
NET CURRENT LIABILITIES (145,420 ) (180,144 )
TOTAL ASSETS LESS CURRENT LIABILITIES (28,119 ) (13,733 )

CREDITORS
Amounts falling due after more than one year 9 (179,948 ) (205,963 )

PROVISIONS FOR LIABILITIES (12,814 ) -
NET LIABILITIES (220,881 ) (219,696 )

CAPITAL AND RESERVES
Called up share capital 11 200 200
Retained earnings (221,081 ) (219,896 )
SHAREHOLDERS' FUNDS (220,881 ) (219,696 )

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.

GEORGE A. PALMER LIMITED (REGISTERED NUMBER: 06597545)

STATEMENT OF FINANCIAL POSITION - 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 30 April 2025 and were signed on its behalf by:




D M Palmer - Director



M R N Palmer - Director


GEORGE A. PALMER LIMITED (REGISTERED NUMBER: 06597545)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

1. STATUTORY INFORMATION

George A. Palmer 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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 net of VAT and trade discounts. The policies adopted for the recognition of turnover are as follows:

Sale of goods

Turnover from the sale of garden and leisure products is recognised when significant risks and rewards of ownership of the goods have transferred to the buyer, the amount of turnover can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transaction can be measured reliably. This is usually on dispatch of the goods.

Where the outcome cannot be measured reliably, turnover is recognised only to the extent of the expenses recognised that are recoverable.


Management charges

Turnover from management charges received are recognised on a monthly basis as a result of charges raised to a group company.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Development costs are being amortised evenly over their estimated useful life of five years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 33% on cost

Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

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 statement of financial position date.


GEORGE A. PALMER LIMITED (REGISTERED NUMBER: 06597545)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 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 statement of financial position 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 the income statement in the period to which they relate.

Going concern
During the year to 30 September 2024 the company made a loss of £1,185 (2023 Loss of £178,276) and at that date its liabilities exceeded its assets by £220,881 (2023 £219,696). The company is reliant upon the ongoing support of its directors. The directors consider the going concern basis of accounting to be appropriate for the business and in these financial statements.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2023 - 2 ) .

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1 October 2023 289,693
Additions 4,436
At 30 September 2024 294,129
AMORTISATION
At 1 October 2023 123,563
Charge for year 58,826
At 30 September 2024 182,389
NET BOOK VALUE
At 30 September 2024 111,740
At 30 September 2023 166,130

GEORGE A. PALMER LIMITED (REGISTERED NUMBER: 06597545)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2024

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 October 2023
and 30 September 2024 21,513
DEPRECIATION
At 1 October 2023
and 30 September 2024 21,513
NET BOOK VALUE
At 30 September 2024 -

6. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 October 2023 281
Additions 5,280
At 30 September 2024 5,561
NET BOOK VALUE
At 30 September 2024 5,561
At 30 September 2023 281

On 28 March 2024, 55,000 shares were purchased in ISTEC
Manufacturing Private Limited at 9.6p per share.

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.9.24 30.9.23
£    £   
Trade debtors - 3,300
Amounts owed by group undertakings 131,390 28,084
Other debtors 2,463 2,312
133,853 33,696

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.9.24 30.9.23
£    £   
Bank loans and overdrafts 28,194 25,969
Trade creditors 18,652 28,354
Amounts owed to group undertakings - 70,477
Taxation and social security 15,694 7,204
Other creditors 217,725 82,248
280,265 214,252

GEORGE A. PALMER LIMITED (REGISTERED NUMBER: 06597545)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2024

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
30.9.24 30.9.23
£    £   
Bank loans 4,948 30,963
Other creditors 175,000 175,000
179,948 205,963

10. SECURED DEBTS

The following secured debts are included within creditors:

30.9.24 30.9.23
£    £   
Bank loans 33,142 56,932

11. CALLED UP SHARE CAPITAL

Allotted and issued:
Number: Class: Nominal 2024 2023
value £    £   

85 Ordinary A £1 85 100
115 Ordinary B £1 115 100
200 200

On 19th April 2024, 15 shares were re-classified as B Ordinary shares that were initially classified as A Ordinary Shares.