Company registration number: 05087036
Unaudited financial statements
for the year ended 5 April 2025
for
Palermo Construction Limited
Pages for filing with the Registrar
Company registration number: 05087036
Palermo Construction Limited
Balance sheet
as at 5 April 2025
2025 2024
Note £ £ £ £
Fixed assets
Tangible assets 4 2,921,420 2,204,371
2,921,420 2,204,371
Current assets
Debtors 96,335 268,661
Cash at bank and in hand 463,258 737,008
559,593 1,005,669
Creditors: amounts falling due within one
year 		(378,745) (388,578)
Net current assets 180,848 617,091
Total assets less current liabilities 3,102,268 2,821,462
NET ASSETS 3,102,268 2,821,462
Capital and reserves
Called up share capital 103 103
Profit and loss account 3,102,165 2,821,359
TOTAL EQUITY 3,102,268 2,821,462
The company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies for the year ended 5 April 2025.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities to comply with the Companies Act 2006 in respect to accounting records and the preparation of financial statements.
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Company registration number: 05087036
Palermo Construction Limited
Balance sheet - continued
as at 5 April 2025
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 to the Registrar.
These financial statements were approved by the Board of directors and authorised for issue on 3 October 2025 and signed on its behalf by:
Mr A Housley, Director
3 October 2025
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Palermo Construction Limited
Notes to the financial statements
for the year ended 5 April 2025
1 Company information
Palermo Construction Limited is a private company registered in England and Wales. Its registered number is 05087036. The company is limited by shares. Its registered office is 12 Palermo Drive, Weston Park, Longton, Stoke On Trent, Staffordshire, ST3 5YP.
2 Accounting policies
Basis of preparing the financial statements
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. The financial statements have been prepared under the historic cost convention.
Going concern
In preparing these financial statements, the directors have assessed whether there are any material uncertainties related to events or conditions that cast significant doubt upon the company's ability to continue as a going concern. In making this assessment, the directors take into account all available information about the future which is at least 12 months from the date that the financial statements are authorised for issue.
The directors consider that the company has adequate resources to continue in business for the foreseeable future and that it is appropriate to adopt the going concern basis in preparing the financial statements.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, Value Added Tax and other sales taxes.
Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Land and buildings:
Freehold property - No depreciation is charged on freehold property
Plant and machinery etc.:
Plant and machinery - 25% reducing balance
Motor vehicles - 25% reducing balance
Taxation
Taxation for the year comprises current taxation. 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 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.
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Palermo Construction Limited
Notes to the financial statements - continued
for the year ended 5 April 2025
2 Accounting policies - continued
Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.
The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.
3 Average number of employees
During the year the average number of employees was 4 (2024 - 4).
4 Tangible fixed assets
Land and
buildings 		Plant and
machinery
etc. 		Totals
£ £ £
Cost
At 6 April 2024 2,157,666 96,241 2,253,907
Additions 728,727 - 728,727
At 5 April 2025 2,886,393 96,241 2,982,634
Depreciation
At 6 April 2024 - 49,536 49,536
Charge for year - 11,678 11,678
At 5 April 2025 - 61,214 61,214
Net book value
At 5 April 2025 2,886,393 35,027 2,921,420
At 5 April 2024 2,157,666 46,705 2,204,371
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Palermo Construction Limited
Notes to the financial statements - continued
for the year ended 5 April 2025
5 Advances, credit and guarantees granted to directors
The following advances and credits to a director subsisted during the years ended 5 April 2025 and 5 April 2024.
2025 2024
£ £
Balance outstanding at start of year 1,062 63
Amounts advanced 93,711 188,192
Amounts repaid (92,850) (187,193)
Balance outstanding at end of year 1,923 1,062
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