Palmers Jewellery Limited

	Page
Balance Sheet	1—2
Notes to the Financial Statements	3—5

Registered number: 06168216

		2025		2024
	Notes	£	£	£	£
FIXED ASSETS
Tangible Assets	5		403		758

			403		758
CURRENT ASSETS
Stocks	6	70,000		70,000
Debtors	7	9,023		5,466
Cash at bank and in hand		73		3,342

		79,096		78,808
Creditors: Amounts Falling Due Within One Year	8	(26,386 )		(32,408 )

NET CURRENT ASSETS (LIABILITIES)			52,710		46,400

TOTAL ASSETS LESS CURRENT LIABILITIES			53,113		47,158

NET ASSETS			53,113		47,158

CAPITAL AND RESERVES
Called up share capital	10		1,000		1,000
Profit and Loss Account			52,113		46,158

SHAREHOLDERS' FUNDS			53,113		47,158

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Palmers Jewellery Limited

Balance Sheet (continued)

As At 31 March 2025

For the year ending 31 March 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.

On behalf of the board

Mr J L Palmer

Director

23/09/2025

The notes on pages 3 to 5 form part of these financial statements.

1. General Information

Palmers Jewellery Limited is a private company, limited by shares, incorporated in England & Wales, registered number 06168216 . The registered office is Cumberland House, 24-28 Baxter Avenue, Southend on Sea, Essex, SS2 6HZ.

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.

2.2. 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 is reduced for estimated customer returns, rebates and other similar allowances.

Sale of goods

Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.

2.3. Intangible Fixed Assets and Amortisation - Goodwill

Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It has been fully amortised

2.4. Tangible Fixed Assets and Depreciation

Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Fixtures & Fittings	20% reducing balance
Computer Equipment	33% reducing balance

2.5. Stocks and Work in Progress

Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.

3. Average Number of Employees

0Average number of employees, including directors, during the year was: NIL (2024: NIL)

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Palmers Jewellery Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2025

4. Intangible Assets

	Goodwill
	£
Cost
As at 1 April 2024	50,000

As at 31 March 2025	50,000

Amortisation
As at 1 April 2024	50,000

As at 31 March 2025	50,000

Net Book Value
As at 31 March 2025	-

As at 1 April 2024	-

5. Tangible Assets

	Plant & Machinery etc.
	£
Cost
As at 1 April 2024	3,362

As at 31 March 2025	3,362

Depreciation
As at 1 April 2024	2,604
Provided during the period	355

As at 31 March 2025	2,959

Net Book Value
As at 31 March 2025	403

As at 1 April 2024	758

6. Stocks

	2025	2024
	£	£
Stock	70,000	70,000

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Palmers Jewellery Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2025

7. Debtors

	2025	2024
	£	£
Due within one year
Trade debtors	9,023	4,887
Other debtors	-	579

	9,023	5,466

8. Creditors: Amounts Falling Due Within One Year

	2025	2024
	£	£
Trade creditors	4,694	2,872
Bank loans and overdrafts	1,982	-
Other creditors	18,187	25,485
Taxation and social security	1,523	4,051

	26,386	32,408

9. Deferred Taxation

The company currently has accumulated tax losses. The director has not recognised a deferred tax asset as it is uncertain that these will be fully utilised within the next accounting priod.

10. Share Capital

	2025	2024
	£	£
Allotted, Called up and fully paid	1,000	1,000

11. Ultimate Controlling Party

The company's ultimate controlling party is J L Palmer by virtue of his ownership of 100% of the issued share capital in the company.

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