1 January 2024 v2025.59.1 limited_company_frs_102_section_1a_v1_1_2 companies_houseSoftwarefalsetruetruetrueNo description of principal activity0falsetruexbrli:purexbrli:sharesiso4217:GBP099313432024-01-012024-12-31099313432024-12-31099313432023-12-3109931343core:WithinOneYear2024-12-3109931343core:WithinOneYear2023-12-3109931343core:AfterOneYear2024-12-3109931343core:AfterOneYear2023-12-3109931343core:ShareCapital2024-12-3109931343core:ShareCapital2023-12-3109931343core:RetainedEarningsAccumulatedLosses2024-12-3109931343core:RetainedEarningsAccumulatedLosses2023-12-3109931343bus:Director12024-01-012024-12-3109931343bus:RegisteredOffice2024-01-012024-12-3109931343core:LandBuildings2024-01-0109931343core:LandBuildings2024-01-012024-12-3109931343core:LandBuildings2024-12-3109931343core:LandBuildings2023-12-310993134312024-01-012024-12-31099313432023-01-012023-12-3109931343countries:EnglandWales2024-01-012024-12-3109931343bus:AuditExempt-NoAccountantsReport2024-01-012024-12-3109931343bus:PrivateLimitedCompanyLtd2024-01-012024-12-3109931343bus:SmallEntities2024-01-012024-12-3109931343bus:FullAccounts2024-01-012024-12-31
Company registration number:
09931343
Palm Property Management Ltd
Unaudited Filleted Financial Statements for the year ended
31 December 2024
Palm Property Management Ltd
Statement of Financial Position
31 December 2024
20242023
Note££
Fixed assets    
Tangible assets 5
433,604
 
430,000
 
Current assets    
Debtors 6
749
 
751
 
Cash at bank and in hand
3,425
 
2,631
 
4,174
 
3,382
 
Creditors: amounts falling due within one year 7
(122,499
 )
(118,442
 )
Net current liabilities
(118,325
 )
(115,060
 )
Total assets less current liabilities 315,279   314,940  
Creditors: amounts falling due after more than one year 8
(259,958
 )
(259,958
 )
Net assets
55,321
 
54,982
 
Capital and reserves    
Called up share capital
2
 
2
 
Profit and loss account
55,319
 
54,980
 
Shareholders funds
55,321
 
54,982
 
For the year ending
31 December 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 financial statements for the year in question in accordance with section 476;
  • The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
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.
These
financial statements
were approved by the board of directors and authorised for issue on
17 September 2025
, and are signed on behalf of the board by:
M Allen
Director
Company registration number:
09931343
Palm Property Management Ltd
Notes to the Financial Statements
Year ended
31 December 2024

1 General information

The company is a private company limited by shares and is registered in England and Wales. The address of the registered office is
5 Sefton Dr
,
Wilmslow
,
SK9 4EL
, United Kingdom.

2 Statement of compliance

These
financial statements
have been prepared in compliance with FRS 102 Section 1A, 'The Financial Reporting Standard applicable to the UK and Republic of Ireland'.

3 Accounting policies

Basis of preparation

The
financial statements
have been prepared on the historical cost basis, as modified by the revaluation of certain assets.
The
financial statements
are prepared in sterling, which is the functional currency of the company.

Tangible assets

Tangible assets are initially measured at cost, and are subsequently measured at cost less any accumulated depreciation and accumulated impairment losses or at a revalued amount.
Any tangible assets carried at a revalued amount are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
An increase in the carrying amount of an asset as a result of a revaluation is recognised in other comprehensive income and accumulated in capital and reserves. However, the increase is recognised in profit or loss to the extent that it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves. If a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess is recognised in profit or loss.

Impairment

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

4 Average number of employees

The average number of persons employed by the company during the year was
2
(2023: nil).

5 Tangible assets

Land and buildings
£
Cost  
At
1 January 2024
430,000
 
Additions
3,604
 
At
31 December 2024
433,604
 
Depreciation  
At
1 January 2024
and
31 December 2024
 -  
Carrying amount  
At
31 December 2024
433,604
 
At 31 December 2023
430,000
 

6 Debtors

20242023
££
Other debtors
749
 
751
 

7 Creditors: amounts falling due within one year

20242023
££
Other creditors
122,499
 
118,442
 

8 Creditors: amounts falling due after more than one year

20242023
££
Other creditors
259,958
 
259,958
 
Within other creditors there are fixed charges placed over the company's investment properties. The fixed charges make up £259,958 of other creditors.

9 Directors' advances, credit and guarantees

During the period, Mrs A Allen took an unsecured, interest-free loan from the company for £42,898. The loan is repayable on demand and in full. Interest has been charged on the value of the outstanding loan at the reporting date.