IRIS Accounts Production v25.2.0.378 12965739 Board of Directors 1.4.24 31.3.25 31.3.25 false true false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh129657392024-03-31129657392025-03-31129657392024-04-012025-03-31129657392023-03-31129657392023-04-012024-03-31129657392024-03-3112965739ns15:EnglandWales2024-04-012025-03-3112965739ns14:PoundSterling2024-04-012025-03-3112965739ns10:Director12024-04-012025-03-3112965739ns10:PrivateLimitedCompanyLtd2024-04-012025-03-3112965739ns10:SmallEntities2024-04-012025-03-3112965739ns10:AuditExempt-NoAccountantsReport2024-04-012025-03-3112965739ns10:SmallCompaniesRegimeForDirectorsReport2024-04-012025-03-3112965739ns10:SmallCompaniesRegimeForAccounts2024-04-012025-03-3112965739ns10:FullAccounts2024-04-012025-03-3112965739ns10:Director22024-04-012025-03-3112965739ns10:RegisteredOffice2024-04-012025-03-3112965739ns5:CurrentFinancialInstruments2025-03-3112965739ns5:CurrentFinancialInstruments2024-03-3112965739ns5:ShareCapital2025-03-3112965739ns5:ShareCapital2024-03-3112965739ns5:RetainedEarningsAccumulatedLosses2025-03-3112965739ns5:RetainedEarningsAccumulatedLosses2024-03-3112965739ns5:LeaseholdImprovements2024-04-012025-03-3112965739ns5:PlantMachinery2024-04-012025-03-3112965739ns5:ComputerEquipment2024-04-012025-03-3112965739ns5:LeaseholdImprovements2024-03-3112965739ns5:PlantMachinery2024-03-3112965739ns5:ComputerEquipment2024-03-3112965739ns5:LeaseholdImprovements2025-03-3112965739ns5:PlantMachinery2025-03-3112965739ns5:ComputerEquipment2025-03-3112965739ns5:LeaseholdImprovements2024-03-3112965739ns5:PlantMachinery2024-03-3112965739ns5:ComputerEquipment2024-03-3112965739ns5:WithinOneYearns5:CurrentFinancialInstruments2025-03-3112965739ns5:WithinOneYearns5:CurrentFinancialInstruments2024-03-31
REGISTERED NUMBER: 12965739 (England and Wales)













Unaudited Financial Statements

for the Year Ended 31st March 2025

for

Palm House (at The Packhouse) Ltd

Palm House (at The Packhouse) Ltd (Registered number: 12965739)

Contents of the Financial Statements
for the Year Ended 31st March 2025










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Palm House (at The Packhouse) Ltd

Company Information
for the Year Ended 31st March 2025







DIRECTORS: Miss A J Hougham
J H D Cree





REGISTERED OFFICE: Hewetts Kilns
Tongham Road
Farnham
Surrey
GU10 1PJ





REGISTERED NUMBER: 12965739 (England and Wales)





ACCOUNTANTS: Whiteleys
Chartered Certified Accountants
Sovereign House
155 High Street
Aldershot
Hampshire
GU11 1TT

Palm House (at The Packhouse) Ltd (Registered number: 12965739)

Balance Sheet
31st March 2025

2025 2024
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 32,430 42,065

CURRENT ASSETS
Stocks 10,006 10,046
Debtors 5 85,875 24,775
Cash at bank 65,430 64,273
161,311 99,094
CREDITORS
Amounts falling due within one year 6 64,053 44,671
NET CURRENT ASSETS 97,258 54,423
TOTAL ASSETS LESS CURRENT
LIABILITIES

129,688

96,488

PROVISIONS FOR LIABILITIES 8,108 10,516
NET ASSETS 121,580 85,972

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 121,480 85,872
SHAREHOLDERS' FUNDS 121,580 85,972

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st March 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st March 2025 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.

Palm House (at The Packhouse) Ltd (Registered number: 12965739)

Balance Sheet - continued
31st March 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 Board of Directors and authorised for issue on 26th August 2025 and were signed on its behalf by:





Miss A J Hougham - Director


Palm House (at The Packhouse) Ltd (Registered number: 12965739)

Notes to the Financial Statements
for the Year Ended 31st March 2025


1. STATUTORY INFORMATION

Palm House (at The Packhouse) 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

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 measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax.

The company recognises revenue when the amount of revenue can be measured reliably, when it is probable that future economic benefits will flow to the entity.

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
Computer equipment - 25% on cost

On disposal, the difference between the net disposal proceeds and the carrying amount of the item sold is recognised in profit or loss.

Stocks
Stocks are measured at the lower of cost and selling price less cost to complete and sell.

Cost is calculated on a first in, first out basis and includes all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition.

Palm House (at The Packhouse) Ltd (Registered number: 12965739)

Notes to the Financial Statements - continued
for the Year Ended 31st March 2025


2. ACCOUNTING POLICIES - continued

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 accounts receivable and payable, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.

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 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. If a financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current 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 that 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 statement of financial position 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.

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.

Palm House (at The Packhouse) Ltd (Registered number: 12965739)

Notes to the Financial Statements - continued
for the Year Ended 31st March 2025


2. ACCOUNTING POLICIES - continued

Impairment of non-financial assets
At each reporting date non-financial assets not carried at fair value, like goodwill and plant, property and equipment, are reviewed to determine whether there is an indication that an asset may be impaired. If there is an indication of possible impairment, the recoverable amount of any asset or group of related assets, which is the higher of value in use and the fair value less cost to sell, is estimated and compared with its carrying amount. If the recoverable amount is lower, the carrying amount of the asset is reduced to its recoverable amount and an impairment loss is recognised immediately in profit or loss.

Stocks are also assessed for impairment at each reporting date. The carrying amount of each item of stock, or group of similar items, is compared with its selling price less costs to complete and sell. If an item of stock or group of similar items is impaired, its carrying amount is reduced to selling price less costs to complete and sell, and an impairment loss is recognised immediately in profit or loss.

If an impairment loss is subsequently reversed, the carrying amount of the asset or group of related assets is increased to the revised estimate of its recoverable amount, but not to exceed the amount that would have been determined had no impairment loss been recognised for the asset or group of related assets in prior periods. A reversal of an impairment loss is recognised immediately in profit or loss.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 18 (2024 - 18 ) .

4. TANGIBLE FIXED ASSETS
Improvements
to Plant and Computer
property machinery equipment Totals
£    £    £    £   
COST
At 1st April 2024 20,004 71,552 17,268 108,824
Additions - 2,191 1,299 3,490
At 31st March 2025 20,004 73,743 18,567 112,314
DEPRECIATION
At 1st April 2024 9,762 45,511 11,486 66,759
Charge for year 2,560 7,058 3,507 13,125
At 31st March 2025 12,322 52,569 14,993 79,884
NET BOOK VALUE
At 31st March 2025 7,682 21,174 3,574 32,430
At 31st March 2024 10,242 26,041 5,782 42,065

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2025 2024
£    £   
Trade debtors 124 1,234
Other debtors 85,751 23,541
85,875 24,775

Palm House (at The Packhouse) Ltd (Registered number: 12965739)

Notes to the Financial Statements - continued
for the Year Ended 31st March 2025


6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2025 2024
£    £   
Trade creditors 22,066 19,182
Taxation and social security 28,395 16,049
Other creditors 13,592 9,440
64,053 44,671

7. RELATED PARTY DISCLOSURES

During the year, Palm House (at The Packhouse) Ltd was invoiced £30,802 (£28,915 - YE 2024) by The Packhouse Limited for the rental of property and equipment, plus £8,686 (£5,233 - YE 2024) for services.

The Packhouse Limited charged Palm House (at The Packhouse) Ltd £16,757 (Nil - YE 2024) for management fees, plus £2,658 for services. The Palm house (at The Packhouse Limited) charged The Packhouse management fees of Nil (£23,200 - 2024).

At the balance sheet date, Palm House (at The Packhouse) Ltd was owed from The Packhouse Limited, the sum of £80,882 (£17,716 - YE 2024).

The Packhouse Limited is a company in which the director and shareholder, A Hougham, has a material interest.