African Palms Limited - Filleted accounts

Registered number

01809993

African Palms Limited

Unaudited Filleted Accounts

31 December 2024

African Palms Limited
Registered number:		01809993
Balance Sheet
as at 31 December 2024

	Notes		2024			2023
£				£
Fixed assets
Tangible assets	3		428			439

Current assets
Stocks		113,815			132,256
Debtors	4	3,460			3,762
Cash at bank and in hand		5,248			11,209
		122,523			147,227

Creditors: amounts falling due within one year	5	(137,265)			(134,805)

Net current (liabilities)/assets			(14,742)			12,422

Total assets less current liabilities			(14,314)			12,861

Creditors: amounts falling due after more than one year	6		(3,508)			(11,813)

Net (liabilities)/assets			(17,822)			1,048

Capital and reserves
Called up share capital			2			2
Profit and loss account			(17,824)			1,046

Shareholder's funds			(17,822)			1,048

The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.




Mr J P Talbot
Director
Approved by the board on 18 September 2025

African Palms Limited
Notes to the Accounts
for the year ended 31 December 2024

1	Accounting policies

	Basis of preparation
	The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).

	Turnover
	Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer.

	Tangible fixed assets
	Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:

	Plant and machinery			25% reducing balance basis
	Fixtures and fittings			25% on cost
	Computer equipment			25% on cost

	Stocks
	Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.

	Debtors
	Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.

	Creditors
	Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.

	Taxation
	A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. 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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.

	Foreign currency translation
	Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.

	Pensions
	Contributions to defined contribution plans are expensed in the period to which they relate.


2	Employees					2024		2023
Number							Number

	Average number of persons employed by the company					3		3


3	Tangible fixed assets
		Computer equipment		Plant and machinery		Fixtures and fittings		Total
£			£		£		£
	Cost
	At 1 January 2024	1,000		-		6,844		7,844
	Additions	-		299		-		299
	At 31 December 2024	1,000		299		6,844		8,143

	Depreciation
	At 1 January 2024	561		-		6,844		7,405
	Charge for the year	250		60		-		310
	At 31 December 2024	811		60		6,844		7,715

	Net book value
	At 31 December 2024	189		239		-		428
	At 31 December 2023	439		-		-		439


4	Debtors					2024		2023
£							£

	Trade debtors					123		156
	Other debtors					3,337		3,606
						3,460		3,762


5	Creditors: amounts falling due within one year					2024		2023
£							£

	Bank loans and overdrafts					8,319		8,113
	Trade creditors					1,625		2,633
	Taxation and social security costs					1,835		2,137
	Other creditors					125,486		121,922
						137,265		134,805


6	Creditors: amounts falling due after one year					2024		2023
£							£

	Bank loans					3,508		11,813


7	Loans					2024		2023
£							£
	Creditors include:

	Secured loans					124,986		119,986

	Fixed and floating charges dated 7 February 2001 have been registered against all property and assets of the company. The charges are in favour of The African Palms Association, and relate to the above loan balance.


8	Other information

	African Palms Limited is a private company limited by shares and incorporated in England. Its registered office is South Street House, 51 South Street, Isleworth, Middlesex TW7 7AA.