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REGISTERED NUMBER: 05993677 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE PERIOD 1 APRIL 2023 TO 30 SEPTEMBER 2024

FOR

PALMAS TRAVEL LIMITED

PALMAS TRAVEL LIMITED (REGISTERED NUMBER: 05993677)






CONTENTS OF THE FINANCIAL STATEMENTS
for the Period 1 April 2023 to 30 September 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


PALMAS TRAVEL LIMITED

COMPANY INFORMATION
for the Period 1 April 2023 to 30 September 2024







DIRECTOR: Ms G Palmas





SECRETARY: Miss A Palmas





REGISTERED OFFICE: 36A Station Road
New Milton
Hampshire
BH25 6JX





REGISTERED NUMBER: 05993677 (England and Wales)





ACCOUNTANTS: David Shores & Co Ltd
36a Station Road
New Milton
Hampshire
BH25 6JX

PALMAS TRAVEL LIMITED (REGISTERED NUMBER: 05993677)

BALANCE SHEET
30 September 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 - 1,044

CURRENT ASSETS
Debtors 5 1,433 1,433
Cash at bank and in hand 64,096 38,131
65,529 39,564
CREDITORS
Amounts falling due within one year 6 83,835 57,017
NET CURRENT LIABILITIES (18,306 ) (17,453 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(18,306

)

(16,409

)

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings (18,307 ) (16,410 )
SHAREHOLDERS' FUNDS (18,306 ) (16,409 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 30 September 2024.

The members have not required the company to obtain an audit of its financial statements for the period ended 30 September 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her 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 Profit and loss account has not been delivered.

The financial statements were approved by the director and authorised for issue on 31 March 2025 and were signed by:





Ms G Palmas - Director


PALMAS TRAVEL LIMITED (REGISTERED NUMBER: 05993677)

NOTES TO THE FINANCIAL STATEMENTS
for the Period 1 April 2023 to 30 September 2024

1. STATUTORY INFORMATION

Palmas Travel 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.

These accounts have been prepared on a going-concern basis notwithstanding the deficit of reserves because it is supported by loans from the director.

Turnover
Turnover represents net invoiced sales of services.

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 and 25% on reducing balance

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Financial instruments
The company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities and include trade and other accounts receivable and payable, loans from banks and other third parties and loans to related parties.

Financial assets 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 income statement.

Basic financial liabilities are initially measured at transaction price and subsequently measured at amortised cost, being the transaction price less any amounts settled.


Employment benefits
The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

The cost of any unused holiday entitlement is recognised in the period in which the employee's services are received

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

Provisions
Provisions (i.e. liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.

PALMAS TRAVEL LIMITED (REGISTERED NUMBER: 05993677)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Period 1 April 2023 to 30 September 2024

2. ACCOUNTING POLICIES - continued

Government grants accounting policy
Revenue grants are recognised on an accrual's basis over the periods in which the company recognises the related costs.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the period was 1 (2023 - 1 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 April 2023 14,124
Disposals (14,124 )
At 30 September 2024 -
DEPRECIATION
At 1 April 2023 13,080
Charge for period 1,044
Eliminated on disposal (14,124 )
At 30 September 2024 -
NET BOOK VALUE
At 30 September 2024 -
At 31 March 2023 1,044

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other debtors 1,433 1,433

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors - 64
Other creditors 83,835 56,953
83,835 57,017

7. RELATED PARTY DISCLOSURES

During the period the director has supported the company by making a loan available. At the period end the loan amounts to 41,307 (2023 - £49,627).

8. POST BALANCE SHEET EVENTS

Due to the continuing losses the director has decided to cease trading on 30th September 2024.

PALMAS TRAVEL LIMITED (REGISTERED NUMBER: 05993677)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Period 1 April 2023 to 30 September 2024

9. ULTIMATE CONTROLLING PARTY

The company is controlled by Ms. G Palmas by virtue of her 100% holding in the issued voting shares of the company.