| Palm Beach Manufacturing Co. Limited |
| Accountants' Report |
|
|
| Accountants' report to the directors of |
| Palm Beach Manufacturing Co. Limited |
|
| You consider that the company is exempt from an audit for the year ended 30 June 2025. You have acknowledged, on the balance sheet, your responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. These responsibilities include preparing accounts that give a true and fair view of the state of affairs of the company at the end of the financial year and of its profit or loss for the financial year. |
| In accordance with your instructions, we have prepared the accounts which comprise the Profit and Loss Account, the Balance Sheet, the Statement of Changes in Equity and the related notes from the accounting records of the company and on the basis of information and explanations you have given to us. |
| We have not carried out an audit or any other review, and consequently we do not express any opinion on these accounts. |
|
| Saddique & Co |
| Chartered Accountants |
|
| 78 Dickenson Road |
| Rusholme |
| Manchester |
| Lancashire |
| M14 5HF |
|
| 14 September 2025 |
|
| Palm Beach Manufacturing Co. Limited |
| Registered number: |
01536909 |
| Balance Sheet |
| as at 30 June 2025 |
|
| Notes |
|
|
2025 |
|
|
2024 |
| £ |
£ |
| Fixed assets |
| Tangible assets |
3 |
|
|
68,229 |
|
|
85,286 |
|
| Current assets |
| Debtors |
4 |
|
1,088,593 |
|
|
846,426 |
| Cash at bank and in hand |
|
|
737,046 |
|
|
954,370 |
|
|
|
1,825,639 |
|
|
1,800,796 |
|
| Creditors: amounts falling due within one year |
5 |
|
#NAME? |
(412,472) |
|
| #NAME? |
|
|
|
#NAME? |
1,388,324 |
|
| Total assets less current liabilities |
|
|
|
#NAME? |
1,473,610 |
|
|
| Provisions for liabilities |
7 |
|
|
(16,410) |
|
|
(24,734) |
|
|
| #NAME? |
|
|
|
#NAME? |
1,448,876 |
|
|
|
|
|
|
|
|
| Capital and reserves |
| Called up share capital |
|
|
|
100 |
|
|
100 |
| Profit and loss account |
|
|
|
#NAME? |
1,448,776 |
|
| Shareholders' funds |
|
|
|
#NAME? |
1,448,876 |
|
|
|
|
|
|
|
|
| The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006. |
| The members have not required the company to obtain an audit in accordance with section 476 of the Act. |
| The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. |
| The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies. |
|
|
|
|
| Zahida Parveen Ahmed |
Abbas Ahmed |
Nazir Ahmed |
Usmaan Ahmed |
| Director |
Director |
Director |
Director |
| Approved by the board on 14 September 2025 |
|
| Palm Beach Manufacturing Co. Limited |
| Notes to the Accounts |
| for the year ended 30 June 2025 |
|
| 1 |
Accounting policies |
|
|
Basis of preparation |
|
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard). |
|
|
Tangible fixed assets |
|
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows: |
|
|
Motor vehicles |
20% reducing balance |
|
Plant and machinery |
20% reducing balance |
|
Equipment |
20% reducing balance |
|
|
Debtors |
|
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts. |
|
|
Creditors |
|
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method. |
|
| 2 |
Employees |
2025 |
|
2024 |
| Number |
Number |
|
|
Average number of persons employed by the company |
6 |
|
8 |
|
|
|
|
|
|
|
|
|
| 3 |
Tangible fixed assets |
|
|
Equipment |
|
Plant & machinery |
|
Motor vehicles |
|
Total |
| £ |
£ |
£ |
£ |
|
Cost |
|
At 1 July 2024 |
4,395 |
|
23,744 |
|
170,353 |
|
198,492 |
|
At 30 June 2025 |
4,395 |
|
23,744 |
|
170,353 |
|
198,492 |
|
|
|
|
|
|
|
|
|
|
Depreciation |
|
At 1 July 2024 |
1,582 |
|
22,613 |
|
89,011 |
|
113,206 |
|
Charge for the year |
563 |
|
226 |
|
16,268 |
|
17,057 |
|
At 30 June 2025 |
2,145 |
|
22,839 |
|
105,279 |
|
130,263 |
|
|
|
|
|
|
|
|
|
|
Net book value |
|
At 30 June 2025 |
2,250 |
|
905 |
|
65,074 |
|
68,229 |
|
At 30 June 2024 |
2,813 |
|
1,131 |
|
81,342 |
|
85,286 |
|
| 4 |
Debtors |
2025 |
|
2024 |
| £ |
£ |
|
|
Prepayments |
485,851 |
|
86,508 |
|
Trade Debtors |
591,192 |
|
708,368 |
|
B And A Quilting loan |
|
|
|
|
1,000 |
|
41,000 |
|
Other Loan |
10,550 |
|
10,550 |
|
|
|
|
|
|
1,088,593 |
|
846,426 |
|
|
|
|
|
|
|
|
|
| 5 |
Creditors: amounts falling due within one year |
2025 |
|
2024 |
| £ |
£ |
|
|
Accoutancy fee |
4,255 |
|
5,000 |
|
Director's loan account |
127,897 |
|
170,839 |
|
Paye Liability & Pension |
1,919 |
|
998 |
|
Wages payable |
1,548 |
|
2,395 |
|
Frieght Payable |
3,706 |
|
2,531 |
|
Proposed dividends |
25,000 |
|
25,000 |
|
Software |
|
9 |
|
- |
|
Corporation tax |
#NAME? |
41,210 |
|
Vat Payable |
85,813 |
|
164,499 |
|
|
|
|
|
|
#NAME? |
412,472 |
|
|
|
|
|
|
|
|
|
| 6 |
Charge to Corporation Tax Comprises |
2025 |
|
2024 |
| £ |
£ |
|
Provision for current year |
#NAME? |
|
Transfer to Deffered Taxation |
|
(8,324) |
|
- |
|
Over Provision for prior year |
(4,000) |
|
- |
|
|
|
|
|
|
#NAME? |
- |
|
|
|
|
|
|
|
|
|
|
| 7 |
Deferred tax |
2025 |
|
2024 |
| £ |
£ |
|
|
B/fwd |
24,734 |
|
4,202 |
|
Charged to the p/l account |
(8,324) |
|
20,532 |
|
|
|
|
|
|
|
16,410 |
|
24,734 |
|
|
|
|
|
|
|
|
|
|
| 8 |
Other information |
|
|
Palm Beach Manufacturing Co. Limited is a private company limited by shares and incorporated in England. Its registered office is: |
|
Chadderton Industrial Estate |
|
Unit 1, Greenside Way |
|
Middleton, Manchester |
|
England |
|
M24 1SN |
|
| Palm Beach Manufacturing Co. Limited |
| Corporation tax computation |
| Tax reference |
1010015881 |
| Period beginning |
1/07/24 |
| Period ending |
30/06/25 |
| Accounts period beginning |
1/07/24 |
| Accounts period ending |
30/06/25 |
|
| Adjustment of trading profits |
£ |
|
| #NAME? |
211,611 |
|
| Add back disallowable expenses |
|
Depreciation and (profit)/loss on sale of assets |
17,057 |
|
| Capital allowances |
(568) |
|
| Deduct non-trading income |
|
Interest receivable |
(18,925) |
|
|
| #NAME? |
209,175 |
|
|
|
|
|
|
|
|
|
| Taxable profits |
£ |
|
| #NAME? |
209,175 |
|
|
|
|
|
|
|
209,175 |
| Interest receivable |
18,925 |
|
| #NAME? |
228,100 |
|
|
|
|
|
|
|
|
| Days in accounting period falling in each tax year |
| Tax year |
Days falling in tax year |
Basis days |
| #NAME? |
#NAME? |
#NAME? |
| #NAME? |
#NAME? |
#NAME? |
|
|
|
|
|
|
#NAME? |
|
|
|
|
|
|
|
| Marginal rate relief calculation |
| Tax year |
Ass co's |
Fraction |
Lower Limit |
Upper Limit |
Taxable profit |
Augmented profit |
Relief |
| #NAME? |
0 |
#NAME? |
#NAME? |
#NAME? |
#NAME? |
#NAME? |
#NAME? |
| #NAME? |
0 |
#NAME? |
#NAME? |
#NAME? |
#NAME? |
#NAME? |
#NAME? |
|
|
|
#NAME? |
#NAME? |
228,100.00 |
228,100.00 |
#NAME? |
|
|
|
|
|
|
|
|
| Corporation tax payable |
| Tax year |
Taxable profit |
Tax rate |
Corp Tax |
| #NAME? |
#NAME? |
#NAME? |
#NAME? |
| #NAME? |
#NAME? |
#NAME? |
#NAME? |
|
|
|
|
|
228,100.00 |
| Corporation tax payable |
#NAME? |
| Marginal rate relief |
#NAME? |
| Corporation tax payable net of marginal rate relief |
#NAME? |
|
|
|
|
|
|
|
|
|