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REGISTERED NUMBER: 10245892 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE PERIOD 1 OCTOBER 2022 TO 31 MARCH 2024

FOR

THE PALFREY (DERBY) LIMITED

THE PALFREY (DERBY) LIMITED (REGISTERED NUMBER: 10245892)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE PERIOD 1 OCTOBER 2022 TO 31 MARCH 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


THE PALFREY (DERBY) LIMITED

COMPANY INFORMATION
FOR THE PERIOD 1 OCTOBER 2022 TO 31 MARCH 2024







DIRECTORS: Mrs S Marlow
Miss A L Marlow





REGISTERED OFFICE: 4 Wellington Circus
Nottingham
Nottinghamshire
NG1 5AL





REGISTERED NUMBER: 10245892 (England and Wales)





ACCOUNTANTS: David Rice Associates Ltd
Chartered Certified Accountants
4 Wellington Circus
Nottingham
Nottinghamshire
NG1 5AL

THE PALFREY (DERBY) LIMITED (REGISTERED NUMBER: 10245892)

BALANCE SHEET
31 MARCH 2024

2024 2022
Notes £    £    £   
FIXED ASSETS
Property, plant and equipment 5 181,535 231,722

CURRENT ASSETS
Inventories 8,000 8,000
Debtors 6 6,961 243
Cash at bank and in hand 21,738 603
36,699 8,846
CREDITORS
Amounts falling due within one year 7 300,795 271,503
NET CURRENT LIABILITIES (264,096 ) (262,657 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(82,561

)

(30,935

)

CREDITORS
Amounts falling due after more than one year 8 13,245 28,081
NET LIABILITIES (95,806 ) (59,016 )

CAPITAL AND RESERVES
Called up share capital 9 100 100
Retained earnings (95,906 ) (59,116 )
SHAREHOLDERS' FUNDS (95,806 ) (59,016 )

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

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

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 May 2025 and were signed on its behalf by:





Miss A L Marlow - Director


THE PALFREY (DERBY) LIMITED (REGISTERED NUMBER: 10245892)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD 1 OCTOBER 2022 TO 31 MARCH 2024


1. STATUTORY INFORMATION

The Palfrey (Derby) 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. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

Turnover
Revenue 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 - 10% on cost
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 20% on reducing balance
Computer equipment - 33% on reducing balance

Stocks
Inventories 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 period 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 period 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.

THE PALFREY (DERBY) LIMITED (REGISTERED NUMBER: 10245892)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 1 OCTOBER 2022 TO 31 MARCH 2024


4. EMPLOYEES AND DIRECTORS

The average number of employees during the period was 12 (2022 - 16 ) .

5. PROPERTY, PLANT AND EQUIPMENT
Improvements Fixtures
to Plant and and Computer
property machinery fittings equipment Totals
£    £    £    £    £   
COST
At 1 October 2022 226,466 13,483 101,829 9,010 350,788
Additions - - 432 - 432
At 31 March 2024 226,466 13,483 102,261 9,010 351,220
DEPRECIATION
At 1 October 2022 48,041 10,206 53,271 7,548 119,066
Charge for period 33,969 1,229 14,697 724 50,619
At 31 March 2024 82,010 11,435 67,968 8,272 169,685
NET BOOK VALUE
At 31 March 2024 144,456 2,048 34,293 738 181,535
At 30 September 2022 178,425 3,277 48,558 1,462 231,722

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2022
£    £   
Trade debtors 6,961 -
Other debtors - 243
6,961 243

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2022
£    £   
Bank loans and overdrafts 10,077 10,077
Trade creditors 54,695 64,890
Taxation and social security 152,495 141,419
Other creditors 83,528 55,117
300,795 271,503

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2022
£    £   
Bank loans 13,245 28,081

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2022
value: £    £   
100 Ordinary £1 100 100