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REGISTERED NUMBER: 03621894 (England and Wales)















Unaudited Financial Statements for the Year Ended 28 February 2025

for

Palmer Homes Limited

Palmer Homes Limited (Registered number: 03621894)






Contents of the Financial Statements
for the Year Ended 28 February 2025




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Palmer Homes Limited

Company Information
for the Year Ended 28 February 2025







DIRECTOR: S J Palmer





REGISTERED OFFICE: Aqua
35 Greenhill
Weymouth
Dorset
DT4 7SW





REGISTERED NUMBER: 03621894 (England and Wales)





ACCOUNTANTS: RWB Tax Consultants Limited
G8 Lynch Lane Offices
79 Lynch Lane
Weymouth
Dorset
DT4 9DN

Palmer Homes Limited (Registered number: 03621894)

Balance Sheet
28 February 2025

28.2.25 29.2.24
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 19,451 23,873

CURRENT ASSETS
Stocks 5 1,609,619 178,968
Debtors 6 310,494 32,742
Cash at bank 306,238 1,831,373
2,226,351 2,043,083
CREDITORS
Amounts falling due within one year 7 250,742 10,453
NET CURRENT ASSETS 1,975,609 2,032,630
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,995,060

2,056,503

PROVISIONS FOR LIABILITIES 3,537 5,756
NET ASSETS 1,991,523 2,050,747

CAPITAL AND RESERVES
Called up share capital 8 2 2
Retained earnings 1,991,521 2,050,745
SHAREHOLDERS' FUNDS 1,991,523 2,050,747

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 2025 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

Palmer Homes Limited (Registered number: 03621894)

Balance Sheet - continued
28 February 2025


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 director and authorised for issue on 23 June 2025 and were signed by:





S J Palmer - Director


Palmer Homes Limited (Registered number: 03621894)

Notes to the Financial Statements
for the Year Ended 28 February 2025

1. STATUTORY INFORMATION

Palmer Homes 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.

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 - 15% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 33% on reducing balance

Stocks
Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2024 - 1 ) .

Palmer Homes Limited (Registered number: 03621894)

Notes to the Financial Statements - continued
for the Year Ended 28 February 2025

4. TANGIBLE FIXED ASSETS
Plant and Motor Computer
machinery vehicles equipment Totals
£    £    £    £   
COST
At 1 March 2024 39,766 59,439 1,589 100,794
Additions - - 833 833
At 28 February 2025 39,766 59,439 2,422 101,627
DEPRECIATION
At 1 March 2024 29,572 46,163 1,186 76,921
Charge for year 1,529 3,319 407 5,255
At 28 February 2025 31,101 49,482 1,593 82,176
NET BOOK VALUE
At 28 February 2025 8,665 9,957 829 19,451
At 29 February 2024 10,194 13,276 403 23,873

5. STOCKS
28.2.25 29.2.24
£    £   
Work-in-progress 1,609,619 178,968

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
28.2.25 29.2.24
£    £   
Directors' current accounts 49,643 32,552
VAT 260,851 190
310,494 32,742

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
28.2.25 29.2.24
£    £   
Bank loans and overdrafts 912 86
Hire purchase contracts - 4,799
Trade creditors 243,916 315
Accrued expenses 5,914 5,253
250,742 10,453

Palmer Homes Limited (Registered number: 03621894)

Notes to the Financial Statements - continued
for the Year Ended 28 February 2025

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 28.2.25 29.2.24
value: £    £   
2 Ordinary £1 2 2

9. OTHER FINANCIAL COMMITMENTS

At the year end, the company had nil charges (2021 - 3) secured against loans.

10. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 28 February 2025 and 29 February 2024:

28.2.25 29.2.24
£    £   
S J Palmer
Balance outstanding at start of year 32,552 15,942
Amounts advanced 52,091 56,610
Amounts repaid (35,000 ) (40,000 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 49,643 32,552

11. ULTIMATE CONTROLLING PARTY

The controlling party is S J Palmer.