REGISTERED NUMBER: 01632053 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 January 2025

for

PALMGROVE CATERING LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

Directors:

C S Stefanuto

F Stefanuto

R Stefanuto

D Stefanuto

Secretary:

D Stefanuto

Registered office:

Northern Assurance Buildings

Albert Square

9/21 Princess St

Manchester

M2 4DN

Registered number:

01632053 (England and Wales)

Accountants:

S&W Partners (Manchester) Limited

Accountants

Northern Assurance Buildings

9-21 Princess Street

Manchester

M2 4DN

Fixed assets

Tangible assets

5

263,117

285,522

Current assets

Stocks

6,970

15,467

Debtors

6

192,304

229,671

Cash at bank and in hand

204,642

84,113

403,916

329,251

Creditors

Amounts falling due within one year

7

298,966

291,157

Net current assets

104,950

38,094

Total assets less current liabilities

368,067

323,616

Provisions for liabilities

20,643

21,824

Net assets

347,424

301,792

Capital and reserves

Called up share capital

8

950

950

Revaluation reserve

9

178,846

196,154

Capital redemption reserve

9

50

50

Retained earnings

9

167,578

104,638

Shareholders' funds

347,424

301,792

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 22 September 2025 and were signed on its behalf by:

C S Stefanuto - Director

1.	Statutory information

Palmgrove Catering Limited 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.	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" including the provisions of Section 1A "Small Entities" and the Companies Act 2006.

3.	Accounting policies

Basis of preparing the financial statements

The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover

Turnover represents amounts chargeable, net of value added tax, in respect of the sale of goods and services to customers.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.

Short leasehold land and buildings

-

straight line over the term of the lease

Fixtures, fittings and equipment

-

15% on reducing balance

Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses.

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.

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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.

Debtors receivable and creditors payable within one year

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the Profit and Loss Account in administrative expenses.

Loans and borrowings

Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment. If an arrangement constitutes a finance transaction it is measured at present value.

4.	Employees and directors

The average number of employees during the year was 50 (2024 - 47 ) .

5.	Tangible fixed assets

Short

Fixtures,

leasehold

fittings

land and

Plant and

and

buildings

machinery

equipment

Totals

£

£

£

£

Cost or valuation

At 1 February 2024

300,000

275,381

375,402

950,783

Additions

-

9,424

350

9,774

At 31 January 2025

300,000

284,805

375,752

960,557

Depreciation

At 1 February 2024

103,846

233,829

327,586

665,261

Charge for year

17,308

7,646

7,225

32,179

At 31 January 2025

121,154

241,475

334,811

697,440

Net book value

At 31 January 2025

178,846

43,330

40,941

263,117

At 31 January 2024

196,154

41,552

47,816

285,522

The short leasehold land and buildings class of fixed assets was revalued on 31 January 2019 by Stuart F Beesley, FRICS who is external to the company. The basis of this valuation was on an open market basis. This class of assets has a current value of £178,846 (2024 - £196,154) and a carrying amount at historical cost of £nil (2023 - £nil).

6.

Debtors: amounts falling due within one year

2025

2024

£

£

Trade debtors

20,116

32,619

Amounts owed by associated undertakings

155,496

142,996

Other debtors

16,692

54,056

192,304

229,671

7.

Creditors: amounts falling due within one year

2025

2024

£

£

Trade creditors

84,851

134,553

Taxation and social security

137,633

106,754

Other creditors

76,482

49,850

298,966

291,157

8.	Called up share capital

Allotted, issued and fully paid:

Number:

Class:

Nominal

2025

2024

value:

£

£

1,000

Ordinary

£1

950

950

9.

Reserves

Capital

Retained

Revaluation

redemption

earnings

reserve

reserve

Totals

£

£

£

£

At 1 February 2024

104,638

196,154

50

300,842

Profit for the year

45,632

-

-

45,632

Transfer of realised profits

17,308

(17,308

)

-

-

At 31 January 2025

167,578

178,846

50

346,474

10.	Other financial commitments

The company has total non-cancellable lease commitments at the year end totalling £1,370,000 (2024 - £1,117,500)

11.	Directors' advances, credits and guarantees

At the year-end a director owed the company £3,000 (2024 - £5,000). The loan is interest free and was repaid shortly after the year end.

12.	Related party transactions

During the year the company paid £nil (2024 - £38,780) on behalf of the company's self administered pension scheme in relation to the scheme's property. The transaction in 2024 was at arms length and the scheme repaid the amount owed during the current year.

13.

Control

The company is controlled by C S Stefanuto by virtue of owning 100% of the issued share capital of the company.