ACCOUNTS - Final Accounts preparation

Company Registration Number: 12776776

PALLADIAN (MARTON) LIMITED

FINANCIAL STATEMENTS

31 DECEMBER 2024

PALLADIAN (MARTON) LIMITED

REGISTERED NUMBER: 12776776

STATEMENT OF FINANCIAL POSITION

AS AT 31 DECEMBER 2024

		2024		2023
Note		£		£


Current assets
Stocks	4	559,679		1,731,824
Debtors due within 1 year	5	2,993		118,600
Bank and cash balances		125,799		7,111
		688,471		1,857,535
Creditors: amounts falling due within one year	6	(273,426)		(666,080)
Net current assets			415,045		1,191,455
Total assets less current liabilities			415,045		1,191,455

Net assets			415,045		1,191,455

Capital and reserves
Called up share capital	7	100	100
Profit and loss account		414,945	1,191,355
		415,045	1,191,455

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by:

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

Mr S Gibbons

Director

Date: 29 September 2025

The notes on pages 3 to 6 form part of these financial statements.

Page 1

PALLADIAN (MARTON) LIMITED

STATEMENT OF CHANGES IN EQUITY

FOR THE YEAR ENDED 31 DECEMBER 2024

	Called up share capital	Profit and loss account	Total equity
	£	£	£
At 1 January 2023	100	188,684	188,784
Comprehensive income for the year
Profit for the year	-	1,002,671	1,002,671
Total comprehensive income for the year	-	1,002,671	1,002,671

At 1 January 2024	100	1,191,355	1,191,455
Comprehensive income for the year
Profit for the year	-	401,176	401,176
Total comprehensive income for the year	-	401,176	401,176
Contributions by and distributions to owners
Dividends: Equity capital	-	(1,177,586)	(1,177,586)
Total transactions with owners	-	(1,177,586)	(1,177,586)
At 31 December 2024	100	414,945	415,045

The notes on pages 3 to 6 form part of these financial statements.

Page 2

PALLADIAN (MARTON) LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

1.	General information

The company is a private company limited by share capital, incorporated in England.
The address of its registered office is Dere Street House, Bowburn North Industrail Estate, Bowburn, Durham, DH6 5PF, United Kingdom.

2.Accounting policies

2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies.

The company's functional and presentational currency is Sterling.

The following principal accounting policies have been applied:

2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:

∙the Company has transferred the significant risks and rewards of ownership to the buyer;

∙the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;

∙the amount of revenue can be measured reliably;

∙it is probable that the Company will receive the consideration due under the transaction; and

∙the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Property sales
Turnover on property sales is recognised upon legal completion of legal title to the customer. The sales prices are reflective of the area, specification and current market conditions. The company offers part exchange and incentives on selected plots.

2.3

Interest income

Interest income is recognised in profit or loss using the effective interest method.

2.4

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

Page 3

PALLADIAN (MARTON) LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

2.5

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

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 income.

2.6

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include land costs and external fees.
At each reporting date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

2.7

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

2.8

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

2.9

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

2.10

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

3.	Staff numbers

The Company has no employees other than the directors, who did not receive any remuneration (2023 - £NIL).

Page 4

PALLADIAN (MARTON) LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

4.	Stocks
		2024	2023
		£	£

	Work in progress	559,679	1,731,824

Debtors

					2024	2023
					£	£


Amounts owed by group undertakings	299	113,254
Prepayments and accrued income	-	4,000
Other debtors	2,693	1,346
	2,992	118,600

6.	Creditors: Amounts falling due within one year
		2024	2023
		£	£

Trade creditors	2,040	-
Amounts owed to group undertakings	37,888	7,380
Accruals and deferred income	124,026	381,916
Corporation tax liability	109,472	276,784
	273,426	666,080

7.	Share capital
		2024	2023
		£	£

Allotted, called up and fully paid

75 (2023 - 75) Ordinary A shares of £1.00 each	75	75
25 (2023 - 25) Ordinary B shares of £1.00 each	25	25

	100	100

Page 5

PALLADIAN (MARTON) LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

8.	Parent and ultimate parent undertaking

The company's immediate parent is VB Turnbull Limited which is incorporated in England and Wales. The registered office of VB Turnbull Limited is Dere Street House, Bowburn North Industrial Estate, Bowburn, Durham, DH6 5PF.
The parent of the largest group is Vestbrown (Newco) Limited which is incorporated in England and Wales. The registered office of Vestbrown (Newco) Limited is Dere Street House, Bowburn North Industrial Estate, Bowburn, Durham, DH6 5PF.

9.	Auditors' information

The auditors' report on the financial statements for the year ended 31 December 2024 was unqualified.

The audit report was signed on 29 September 2025 by Simon Turner (Senior Statutory Auditor) on behalf of Armstrong Watson Audit Limited.

Page 6