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Registration number: 01684142

Geoffrey Palmer Limited

Unaudited Financial Statements

for the Year Ended 30 November 2024

Brebners
Chartered Accountants
130 Shaftesbury Avenue
London
W1D 5AR

 

Geoffrey Palmer Limited

Contents

Company Information

1

Statement of Financial Position

2 to 3

Notes to the Unaudited Financial Statements

4 to 8

 

Geoffrey Palmer Limited

Company Information

Directors

S R Palmer

C E Palmer

H J Palmer

Company secretary

S R Palmer

Registered office

130 Shaftesbury Avenue
2nd Floor
London
W1D 5EU

Accountants

Brebners
Chartered Accountants
130 Shaftesbury Avenue
London
W1D 5AR

 

Geoffrey Palmer Limited

Statement of Financial Position as at 30 November 2024

Note

2024
£

(As restated)

2023
£

Fixed assets

 

Tangible assets

4

4,622

6,904

Investment property

5

770,000

750,000

Other financial assets

6

2,570,248

2,316,015

 

3,344,870

3,072,919

Current assets

 

Debtors

7

782,302

769,092

Cash at bank and in hand

 

14,819

41,627

 

797,121

810,719

Creditors: Amounts falling due within one year

8

(67,015)

(96,429)

Net current assets

 

730,106

714,290

Total assets less current liabilities

 

4,074,976

3,787,209

Provisions for liabilities

(334,630)

(274,535)

Net assets

 

3,740,346

3,512,674

Capital and reserves

 

Called up share capital

2,236

2,236

Share premium reserve

116,764

116,764

Retained earnings

3,621,346

3,393,674

Shareholders' funds

 

3,740,346

3,512,674

For the financial year ending 30 November 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

 

Geoffrey Palmer Limited

Statement of Financial Position as at 30 November 2024

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and FRS 102 ‘The Financial Reporting Standard Applicable in the UK and Republic of Ireland’.

The directors of Geoffrey Palmer Limited have elected not to include a copy of the profit and loss account within the financial statements, in accordance with the special provisions relating to companies subject to the small companies regime within the Companies Act 2006, s444.

Approved and authorised by the Board on 25 August 2025 and signed on its behalf by:
 

.........................................

H J Palmer

Director

Company registration number: 01684142

 

Geoffrey Palmer Limited

Notes to the Unaudited Financial Statements
for the Year Ended 30 November 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
130 Shaftesbury Avenue
2nd Floor
London
W1D 5EU

The principal activity of the company is that of the provision of services to the entertainment industry.

2

Accounting policies

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' Section 1A and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except any items disclosed in the accounting policies as being shown at fair value and are presented in sterling, which is the functional currency of the entity.

Summary of significant accounting policies

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Going concern

The company made a profit for the year ended 30 November 2024 and had net assets of £3,740,346 at that date.

The directors believe that royalty income from the company's catalogue of TV and film productions and income from investments will continue. The company has few fixed overheads.

On the basis of the above, and after making enquiries, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Accordingly, the directors continue to adopt the going concern basis in preparing the financial statements.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the provision of services in the ordinary course of the company's activities. Turnover is shown net of value added tax, rebates and discounts.

The company recognises revenue from royalties from repeats of past performances in the period in which they are earned.

 

Geoffrey Palmer Limited

Notes to the Unaudited Financial Statements
for the Year Ended 30 November 2024

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a charge attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Office Equipment

20% straight line

Fixtures & Fittings

10% straight line

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

Investments

Publicly traded investments are measured at fair value at each year end with changes in valuation recognised in comprehensive income. Non-listed investments are also measured at fair value where a reliable valuation is available. Any changes in valuation are recognised in comprehensive income.

Other investments in non-listed shares are stated at deemed original cost less any provisions for dimunition in value.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

 

Geoffrey Palmer Limited

Notes to the Unaudited Financial Statements
for the Year Ended 30 November 2024

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distributions to the company’s shareholders are recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of persons employed by the company during the year, was 0 (2023 - 0).

4

Tangible assets

Fixtures & Fittings
 £

Office Equipment
 £

Total
£

Cost or valuation

At 1 December 2023

22,537

2,995

25,532

At 30 November 2024

22,537

2,995

25,532

Depreciation

At 1 December 2023

15,718

2,910

18,628

Charge for the year

2,254

28

2,282

At 30 November 2024

17,972

2,938

20,910

Carrying amount

At 30 November 2024

4,565

57

4,622

At 30 November 2023

6,819

85

6,904

 

Geoffrey Palmer Limited

Notes to the Unaudited Financial Statements
for the Year Ended 30 November 2024

5

Investment properties

Fair value

2024
£

At 1 December 2023

750,000

Fair value adjustments

20,000

At 30 November 2024

770,000

The investment property has been reflected at market value as estimated by the directors at an amount of £770,000.

6

Other financial assets (non-current)

Listed Investments
£

Unlisted Investments
£

Total
£

Non-current financial assets

Cost or valuation

At 1 December 2023

2,191,015

125,000

2,316,015

Fair value adjustments

318,549

-

318,549

Additions

89,210

-

89,210

Disposals

(153,526)

-

(153,526)

At 30 November 2024

2,445,248

125,000

2,570,248

Carrying amount

At 30 November 2024

2,445,248

125,000

2,570,248

At 30 November 2023

2,191,015

125,000

2,316,015

7

Debtors

2024
£

2023
£

Trade debtors

2,632

1,998

Other debtors

779,670

767,094

782,302

769,092

 

Geoffrey Palmer Limited

Notes to the Unaudited Financial Statements
for the Year Ended 30 November 2024

8

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Taxation and social security

53,167

44,629

Accruals and deferred income

10,136

4,016

Other creditors

3,712

47,784

67,015

96,429

9

Transactions with directors

At 30 November 2024 an amount of £582,362 (2023: £574,640) was due to the company from directors. Advances of £83,897 and repayments of £90,148 were made. Interest of £13,913 (2023: £13,114) is due to the company at 2.25% pa. There are no set terms in place.

10

Profit and Loss Reserve

The profit and loss account includes all current and prior year retained earnings and accumulated losses. Of the amount standing to the credit of the profit and loss account an amount of £1,335,902 (2023: £1,054,241) is not distributable in accordance with the Companies Act 2006.

11

Prior period adjustment

During the year it was identified that an element of deferred tax consideration had been omitted from the previous years' financial statements. This has been corrected and the comparatives have been restated.

The effect of the adjustment is to increase the profit after tax for the year ended 30 November 2023 by £57,659 and to increase net assets as at 30 November 2023 by the same amount from that previously stated.