Company No:
Contents
| Note | 2025 | 2024 | ||
| £ | £ | |||
| Restated - note 2 | ||||
| Current assets | ||||
| Debtors | 4 |
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| Cash at bank and in hand |
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| 145,720 | 1,072,646 | |||
| Creditors: amounts falling due within one year | 5 | (
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| Net current liabilities | (1,336,124) | (658,537) | ||
| Total assets less current liabilities | (1,336,124) | (658,537) | ||
| Net liabilities | (
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| Capital and reserves | ||||
| Called-up share capital |
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| Profit and loss account | (
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| Total shareholder's deficit | (
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Director's responsibilities:
The financial statements of Palmeraie des Cygnes UK Limited (registered number:
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C L Heilbronn
Director |
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.
Palmeraie des Cygnes UK 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 Old Library Chambers, 21 Chipper Lane, Salisbury, Wiltshire, SP1 1BG, United Kingdom.
The financial statements have been prepared under the historical cost convention 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 Palmeraie des Cygnes UK 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.
The financial statements have been prepared on a going concern basis.
The director has made an assessment in preparing these financial statements as to whether the Company is a going concern and have concluded that there are no material uncertainties that may cast significant doubt on the Company's ability to continue as a going concern for a period of at least 12 months from the date of approval of these financial statements.
Exchange differences are recognised in the Profit and Loss Account in the period in which they arise on monetary items.
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.
Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.
Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.
| As previously reported | Adjustment | As restated | ||||
| Year ended 31 March 2024 | £ | £ | £ | |||
| Management fees | 45,712 | (45,712) | 0 |
Management fees amounting to £45,712 were previously included within the 2024 profit and loss account. The property to which these management fees related has since been deemed not to be company property; therefore, the fees have been removed from the profit and loss account and other creditors have been reduced by the same amount.
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| Monthly average number of persons employed by the Company during the year, including the director |
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| Other debtors |
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| Accruals |
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| Other creditors |
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