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Registered Number: 13684551
England and Wales

 

 

 

THE PALMS MCR LIMITED



Abridged Accounts
 


Period of accounts

Start date: 01 November 2023

End date: 31 October 2024
 
 
Notes
 
2024
£
  2023
£
Fixed assets      
Intangible fixed assets 3 4,900    5,600 
Tangible fixed assets 4 2,560    3,200 
7,460    8,800 
Current assets      
Debtors 15,271    3,761 
Cash at bank and in hand 739    4,618 
16,010    8,379 
Creditors: amount falling due within one year (5,545)   (5,544)
Net current assets 10,465    2,835 
 
Total assets less current liabilities 17,925    11,635 
Net assets 17,925    11,635 
 

Capital and reserves
     
Called up share capital 5 1    1 
Profit and loss account 17,924    11,634 
Shareholders' funds 17,925    11,635 
 


For the year ended 31 October 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The director acknowledges their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These 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 to the Registrar of Companies.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with section 444(2A).
The financial statements were approved by the director on 03 July 2025 and were signed by:


-------------------------------
Rachel Samuels
Director
1
General Information
The Palms Mcr Limited is a private company, limited by shares, registered in England and Wales, registration number 13684551, registration address Unit 101 The Palms Bakery, Pollard Yard, Manchester, M40 7QX.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 102 – The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the company.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Website cost
Planning and operating costs for the company's website are charged to the income statement as incurred.
Intangible assets
Intangible assets (including purchased goodwill and patents) are amortised at rates calculated to write off the assets on a straight line basis over their estimated useful economic lives. Impairment of intangible assets is only reviewed where circumstances indicate that the carrying value of an asset may not be fully recoverable.
Goodwill
Acquired goodwill is stated at cost less amortisation. Amortisation is calculated on a straight line basis over the estimated expected useful economic life of the goodwill of 10 years.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Plant and Machinery 20% Reducing Balance
Provisions
Provisions are recognised when the company has a present obligation as a result of a past event which it is more probable than not will result in an outflow of economic benefits that can be reasonably estimated.
2.

Average number of employees

Average number of employees during the year was 2 (2023 : 2).
3.

Intangible fixed assets

Cost Goodwill   Total
  £   £
At 01 November 2023 7,000    7,000 
Additions  
Disposals  
At 31 October 2024 7,000    7,000 
Amortisation
At 01 November 2023 1,400    1,400 
Charge for year 700    700 
On disposals  
At 31 October 2024 2,100    2,100 
Net book values
At 31 October 2024 4,900    4,900 
At 31 October 2023 5,600    5,600 


4.

Tangible fixed assets

Cost or valuation Plant and Machinery   Total
  £   £
At 01 November 2023 5,000    5,000 
Additions  
Disposals  
At 31 October 2024 5,000    5,000 
Depreciation
At 01 November 2023 1,800    1,800 
Charge for year 640    640 
On disposals  
At 31 October 2024 2,440    2,440 
Net book values
Closing balance as at 31 October 2024 2,560    2,560 
Opening balance as at 01 November 2023 3,200    3,200 


5.

Share Capital

Allotted, called up and fully paid
2024
£
  2023
£
1 Class A share of £1.00 each  
 

2