IRIS Accounts Production v25.1.3.33 11496654 Board of Directors 1.9.23 31.8.24 31.8.24 false true false false false true false Ordinary 1.00000 A Ordinary 1.00000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh114966542023-08-31114966542024-08-31114966542023-09-012024-08-31114966542022-08-31114966542022-09-012023-08-31114966542023-08-3111496654ns15:EnglandWales2023-09-012024-08-3111496654ns14:PoundSterling2023-09-012024-08-3111496654ns10:Director12023-09-012024-08-3111496654ns10:PrivateLimitedCompanyLtd2023-09-012024-08-3111496654ns10:SmallEntities2023-09-012024-08-3111496654ns10:AuditExemptWithAccountantsReport2023-09-012024-08-3111496654ns10:SmallCompaniesRegimeForDirectorsReport2023-09-012024-08-3111496654ns10:SmallCompaniesRegimeForAccounts2023-09-012024-08-3111496654ns10:FullAccounts2023-09-012024-08-311149665412023-09-012024-08-3111496654ns10:OrdinaryShareClass12023-09-012024-08-3111496654ns10:OrdinaryShareClass22023-09-012024-08-3111496654ns10:Director22023-09-012024-08-3111496654ns10:RegisteredOffice2023-09-012024-08-3111496654ns5:CurrentFinancialInstruments2024-08-3111496654ns5:CurrentFinancialInstruments2023-08-3111496654ns5:Non-currentFinancialInstruments2024-08-3111496654ns5:Non-currentFinancialInstruments2023-08-3111496654ns5:ShareCapital2024-08-3111496654ns5:ShareCapital2023-08-3111496654ns5:RetainedEarningsAccumulatedLosses2024-08-3111496654ns5:RetainedEarningsAccumulatedLosses2023-08-311149665412023-09-012024-08-3111496654ns5:NetGoodwill2023-09-012024-08-3111496654ns5:IntangibleAssetsOtherThanGoodwill2023-09-012024-08-3111496654ns5:FurnitureFittings2023-09-012024-08-3111496654ns5:MotorVehicles2023-09-012024-08-3111496654ns5:ComputerEquipment2023-09-012024-08-3111496654ns5:NetGoodwill2023-08-3111496654ns5:NetGoodwill2024-08-3111496654ns5:NetGoodwill2023-08-3111496654ns5:FurnitureFittings2023-08-3111496654ns5:MotorVehicles2023-08-3111496654ns5:ComputerEquipment2023-08-3111496654ns5:FurnitureFittings2024-08-3111496654ns5:MotorVehicles2024-08-3111496654ns5:ComputerEquipment2024-08-3111496654ns5:FurnitureFittings2023-08-3111496654ns5:MotorVehicles2023-08-3111496654ns5:ComputerEquipment2023-08-3111496654ns5:WithinOneYearns5:CurrentFinancialInstruments2024-08-3111496654ns5:WithinOneYearns5:CurrentFinancialInstruments2023-08-3111496654ns5:Non-currentFinancialInstruments2023-09-012024-08-3111496654ns10:OrdinaryShareClass12024-08-3111496654ns10:OrdinaryShareClass22024-08-31
REGISTERED NUMBER: 11496654 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 August 2024

for

PALLADIO LTD

PALLADIO LTD (REGISTERED NUMBER: 11496654)






Contents of the Financial Statements
for the year ended 31 August 2024




Page

Company Information 1

Chartered Accountants' Report 2

Balance Sheet 3

Notes to the Financial Statements 5


PALLADIO LTD

Company Information
for the year ended 31 August 2024







DIRECTORS: M G J Leonard
L McIlroy





REGISTERED OFFICE: 13 Argyle Street
Bath
BA2 4BQ





REGISTERED NUMBER: 11496654 (England and Wales)





ACCOUNTANTS: Richardson Swift
Chartered Accountants
11 Laura Place
Bath
BA2 4BL

Chartered Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
Palladio Ltd

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 Palladio Ltd for the year ended 31 August 2024 which comprise the Income Statement, Balance Sheet, Statement of Changes in Equity 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 Palladio Ltd, 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 Palladio Ltd and state those matters that we have agreed to state to the Board of Directors of Palladio Ltd, 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 Palladio Ltd and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Palladio Ltd 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 Palladio Ltd. You consider that Palladio Ltd 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 Palladio Ltd. 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.






Richardson Swift
Chartered Accountants
11 Laura Place
Bath
BA2 4BL


12 February 2025

PALLADIO LTD (REGISTERED NUMBER: 11496654)

Balance Sheet
31 August 2024

2024 2023
Notes £    £    £   
FIXED ASSETS
Intangible assets 4 14,000 16,000
Tangible assets 5 39,862 50,734
53,862 66,734

CURRENT ASSETS
Debtors 6 69,092 48,328
Cash at bank 27,330 83,819
96,422 132,147
CREDITORS
Amounts falling due within one year 7 115,110 105,168
NET CURRENT (LIABILITIES)/ASSETS (18,688 ) 26,979
TOTAL ASSETS LESS CURRENT
LIABILITIES

35,174

93,713

CREDITORS
Amounts falling due after more than one
year

8

7,371

17,746
NET ASSETS 27,803 75,967

CAPITAL AND RESERVES
Called up share capital 9 110 110
Retained earnings 27,693 75,857
SHAREHOLDERS' FUNDS 27,803 75,967

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

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

PALLADIO LTD (REGISTERED NUMBER: 11496654)

Balance Sheet - continued
31 August 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 12 February 2025 and were signed on its behalf by:





M G J Leonard - Director


PALLADIO LTD (REGISTERED NUMBER: 11496654)

Notes to the Financial Statements
for the year ended 31 August 2024

1. STATUTORY INFORMATION

Palladio 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.

Critical accounting judgements and key sources of estimation uncertainty
No significant judgements or key assumptions have had to be made by directors in preparing these financial statements.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.
Turnover is recognised when services are rendered.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2021, is being amortised evenly over its estimated useful life of ten years.

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.

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.
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 25% on reducing balance

Financial instruments
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors, loans from banks and other third parties.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the profit or loss.

For financial assets measured at amortised cost, the impairment loss is measured as the difference between an asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate determined under the contract.

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and the best estimate, which is an approximation, of the amount the company would receive for the asset if it were to be sold at the reporting date.

Financial assets and liabilities are offset and the net amount reported in the balance sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.


PALLADIO LTD (REGISTERED NUMBER: 11496654)

Notes to the Financial Statements - continued
for the year ended 31 August 2024

2. ACCOUNTING POLICIES - continued
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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2023 - 4 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 September 2023
and 31 August 2024 20,000
AMORTISATION
At 1 September 2023 4,000
Charge for year 2,000
At 31 August 2024 6,000
NET BOOK VALUE
At 31 August 2024 14,000
At 31 August 2023 16,000

PALLADIO LTD (REGISTERED NUMBER: 11496654)

Notes to the Financial Statements - continued
for the year ended 31 August 2024

5. TANGIBLE FIXED ASSETS
Fixtures
and Motor Computer
fittings vehicles equipment Totals
£    £    £    £   
COST
At 1 September 2023 2,652 79,741 8,955 91,348
Additions 1,024 - 524 1,548
At 31 August 2024 3,676 79,741 9,479 92,896
DEPRECIATION
At 1 September 2023 1,099 34,776 4,739 40,614
Charge for year 133 11,241 1,046 12,420
At 31 August 2024 1,232 46,017 5,785 53,034
NET BOOK VALUE
At 31 August 2024 2,444 33,724 3,694 39,862
At 31 August 2023 1,553 44,965 4,216 50,734

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors - 5,177
Other debtors 69,092 43,151
69,092 48,328

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 10,375 10,160
Trade creditors 31,762 7,884
Taxation and social security 46,116 48,175
Other creditors 26,857 38,949
115,110 105,168

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans 7,371 17,746

The bank loan relates to a government supported bounce back loan.

PALLADIO LTD (REGISTERED NUMBER: 11496654)

Notes to the Financial Statements - continued
for the year ended 31 August 2024

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
100 Ordinary £1 100 100
10 A Ordinary £1 10 10
110 110

The Ordinary shares issued in the Company, having a nominal value of £1.00 each, have a full right to receive notice of, attend, and vote at general meetings, one vote per share; a full right to participate in any distribution of capital on a sale or winding-up of the company (including to share in any surplus therefrom); they are not a redeemable class of shares.

The A Ordinary shares issues in the Company, having a nominal value of £1.00 each, have no right to receive notice of, attend or vote at General Meetings. They have a right to participate in a distribution of profits by way of dividend and to fully participate in any distribution of capital on a sale or winding-up of the company (including to share in any surplus therefrom); they are not a redeemable class of shares.

10. LEASE COMMITMENTS

At the year end the company had outstanding lease commitments totalling £263,415 (2023: £305,795).