Company No: 05745000 (England and Wales)

Contents

• Company Information
• Balance Sheet
• Notes to the Financial Statements

DIRECTORS	M Alas
	M Piggott

SECRETARY

M Piggott

REGISTERED OFFICE	Level 1 Brockbourne House
	77 Mount Ephraim
	Tunbridge Wells
	Kent
	TN4 8BS
	United Kingdom

COMPANY NUMBER

05745000 (England and Wales)

ACCOUNTANT	S&W Partners (South East) Limited
	Brockbourne House
	77 Mount Ephraim
	Royal Tunbridge Wells
	TN4 8BS

	Note	2024		2023
		£		£
Fixed assets
Tangible assets	3	10,919		14,720
		10,919		14,720
Current assets
Debtors	4	590,114		680,687
Cash at bank and in hand		80,575		429,596
		670,689		1,110,283
Creditors: amounts falling due within one year	5	( 730,444)		( 1,090,783)
Net current (liabilities)/assets		(59,755)		19,500
Total assets less current liabilities		(48,836)		34,220
Net (liabilities)/assets		( 48,836)		34,220
Capital and reserves
Called-up share capital		100		100
Profit and loss account		( 48,936 )		34,120
Total shareholders' (deficit)/funds		( 48,836)		34,220

For the financial year ending 30 September 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 financial year in accordance with section 476;
• The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements; and
• These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Statement of Income and Retained Earnings has not been delivered.

The financial statements of Palm Productions Limited (registered number: 05745000) were approved and authorised for issue by the Board of Directors on 10 October 2025. They were signed on its behalf by:

M Alas Director

1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Palm Productions Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Level 1 Brockbourne House, 77 Mount Ephraim, Tunbridge Wells, Kent, TN4 8BS, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with ‘The Financial Reporting Standard applicable in the UK and the Republic of Ireland’ issued by the Financial Reporting Council, including Section 1A of Financial Reporting Standard 102 (FRS102), and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The functional currency of Palm Productions Limited is considered to be pounds sterling because that is the currency of the primary economic environment in which the Company operates.

These financial statements are separate financial statements.

Going concern

The company has net liabilities of £48,836 (2023: net assets £34,220) on the balance sheet date. On the basis of current financial projections and financial support available from the owners of the company, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future and, accordingly, consider that it is appropriate to adopt the going concern basis in preparing the financial statements. The company has the directors support through connected companies.

Foreign currency

Transactions in foreign currencies are recorded at the rate of exchange at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the Balance Sheet date are reported at the rates of exchange prevailing at that date.

Exchange differences are recognised in the Statement of Income and Retained Earnings in the period in which they arise on monetary items.

Turnover

Turnover is recognised to the extent that it is probable that the economic benefit will flow to the Company and the turnover can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Interest income

Interest income is recognised when it is probable that the economic benefits will flow to the Company and the amount of revenue can be measured reliably. Interest income is accrued on a time basis, by reference to the principal outstanding at the effective interest rate applicable, which is the rate that exactly discounts estimated future cash receipts through the expected life of the financial asset to that asset's net carrying amount on initial recognition.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on enacted or substantively enacted tax rates and laws. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit. Deferred tax assets are recognised only to the extent that it is probable that future taxable profit will be available against which the temporary differences can be utilised.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Land and buildings	10 years straight line
Plant and machinery etc.	20 % reducing balance
	4 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Leases

The Company as lessee
Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.

Trade and other debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Trade and other creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method.

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

Pension

Defined contribution pension plan

The company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the Company that operates and generates income.

2. Employees

	2024		2023
	Number		Number
Monthly average number of persons employed by the Company during the year, including directors	2		2

3. Tangible assets

	Land and buildings		Plant and machinery etc.		Total
	£		£		£
Cost
At 01 October 2023	248,622		125,538		374,160
At 30 September 2024	248,622		125,538		374,160
Accumulated depreciation
At 01 October 2023	248,622		110,818		359,440
Charge for the financial year	0		3,801		3,801
At 30 September 2024	248,622		114,619		363,241
Net book value
At 30 September 2024	0		10,919		10,919
At 30 September 2023	0		14,720		14,720

4. Debtors

	2024		2023
	£		£
Amounts owed by connected companies	340,096		462,054
Prepayments and accrued income	0		111,014
Deferred tax asset	31,100		0
VAT recoverable	16,969		0
Other debtors	201,949		107,619
	590,114		680,687

5. Creditors: amounts falling due within one year

	2024		2023
	£		£
Trade creditors	8,495		28,866
Amounts owed to connected companies	625,616		943,766
Accruals	5,250		6,569
Corporation tax	91,083		16,112
Other taxation and social security	0		95,200
Other creditors	0		270
	730,444		1,090,783

6. Deferred tax

	2024		2023
	£		£
At the beginning of financial year	0		0
Credited to the Statement of Income and Retained Earnings	31,100		0
At the end of financial year	31,100		0

The deferred taxation balance is made up as follows:

	2024		2023
	£		£
Short term timing differences	146		0
Losses and other deductions	28,263		0
Fixed asset timing differences	2,691		0
	31,100		0

7. Related party transactions

Transactions with the entity's directors

	2024		2023
	£		£
Balance brought forward	0		410,803
Advances to directors	0		8,669
Repayments in the year	0		(419,472)
Total	0		0

Director loans accrued interest in line with the rates prescribed by HMRC.