REGISTERED NUMBER: 04675404 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 March 2025

for

Palmer Care Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mrs P Palmer

S J Palmer

A Palmer

Mrs A Knight

SECRETARY:

S J Palmer

REGISTERED OFFICE:

16 Glendinning Avenue

Weymouth

Dorset

DT4 7QF

REGISTERED NUMBER:

04675404 (England and Wales)

ACCOUNTANTS:

RWB Tax Consultants Limited

G8 Lynch Lane Offices

79 Lynch Lane

Weymouth

Dorset

DT4 9DN

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

2,593,606

2,594,554

Investment property

6

1,500,000

1,500,000

4,093,606

4,094,554

CURRENT ASSETS

Debtors

7

204,989

309,532

Cash at bank

4,598,112

3,349,097

4,803,101

3,658,629

CREDITORS

Amounts falling due within one year

8

403,640

322,501

NET CURRENT ASSETS

4,399,461

3,336,128

TOTAL ASSETS LESS CURRENT LIABILITIES

8,493,067

7,430,682

PROVISIONS FOR LIABILITIES

135,707

134,817

NET ASSETS

8,357,360

7,295,865

CAPITAL AND RESERVES

Called up share capital

9

100

100

Share premium

541,998

541,998

Retained earnings

7,815,262

6,753,767

SHAREHOLDERS' FUNDS

8,357,360

7,295,865

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

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

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 18 June 2025 and were signed on its behalf by:

Mrs P Palmer - Director

1.	STATUTORY INFORMATION

Palmer Care 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.

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 represents fees received excluding VAT.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2003, is being amortised evenly over its estimated useful life of ten years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

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

Fixtures and fittings

-

15% on reducing balance

Computer equipment

-

33% on cost

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 37 (2024 - 35 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 April 2024

and 31 March 2025

70,000

AMORTISATION

At 1 April 2024

and 31 March 2025

70,000

NET BOOK VALUE

At 31 March 2025

-

At 31 March 2024

-

5.	TANGIBLE FIXED ASSETS

Fixtures

Freehold

Plant and

and

Computer

property

machinery

fittings

equipment

Totals

£

£

£

£

£

COST

At 1 April 2024

2,571,407

15,605

87,502

3,559

2,678,073

Additions

-

2,357

339

350

3,046

At 31 March 2025

2,571,407

17,962

87,841

3,909

2,681,119

DEPRECIATION

At 1 April 2024

-

10,222

69,738

3,559

83,519

Charge for year

-

1,161

2,716

117

3,994

At 31 March 2025

-

11,383

72,454

3,676

87,513

NET BOOK VALUE

At 31 March 2025

2,571,407

6,579

15,387

233

2,593,606

At 31 March 2024

2,571,407

5,383

17,764

-

2,594,554

6.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 April 2024

and 31 March 2025

1,500,000

NET BOOK VALUE

At 31 March 2025

1,500,000

At 31 March 2024

1,500,000

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.25

31.3.24

£

£

Trade debtors

38,782

43,227

Amounts recoverable on contract

133,497

141,492

Other debtors

-

96,321

Prepayments

32,710

28,492

204,989

309,532

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.25

31.3.24

£

£

Trade creditors

15,400

27,137

Tax

354,444

267,737

Social security and other taxes

21,528

16,388

Credit card

886

270

Directors' current accounts

2,677

2,677

Accrued expenses

8,705

8,292

403,640

322,501

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.3.25

31.3.24

value:

£

£

100

A Ordinary

£1

100

100

10.	ULTIMATE CONTROLLING PARTY

The controlling party is the trustees of the Palmer Family settlement.