Registration number: 08017441

Palm (Yorkshire) Limited

Contents

Company Information	1
Balance Sheet	2
Notes to the Financial Statements	3 to 6

Palm (Yorkshire) Limited

Company Information

Directors

Mrs Kelly Adams Mr Paul Adams

Registered office

Unit 5 Swinnow Court 621 Stanningley Road Leeds LS13 4ER

Palm (Yorkshire) Limited

(Registration number: 08017441)
Balance Sheet as at 30 April 2025

	Note	2025 £	2024 £
Fixed assets
Tangible assets	4	273,856	291,676
Current assets
Stocks	5	20,000	15,000
Debtors	6	695,768	732,754
Cash at bank and in hand		936,969	518,682
		1,652,737	1,266,436
Creditors: Amounts falling due within one year	7	(575,808)	(715,670)
Net current assets		1,076,929	550,766
Total assets less current liabilities		1,350,785	842,442
Provisions for liabilities		(25,000)	(25,000)
Net assets		1,325,785	817,442
Capital and reserves
Called up share capital	8	2	2
Retained earnings		1,325,783	817,440
Shareholders' funds		1,325,785	817,442

For the financial year ending 30 April 2025 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 accounts for the year in question in accordance with section 476; and
•	The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 26 August 2025 and signed on its behalf by:
 

......................................... Mr Paul Adams Director

Palm (Yorkshire) Limited

Notes to the Financial Statements for the Year Ended 30 April 2025

1	General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Unit 5
Swinnow Court
621 Stanningley Road
Leeds
LS13 4ER

These financial statements were authorised for issue by the Board on 26 August 2025.

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Palm (Yorkshire) Limited

Notes to the Financial Statements for the Year Ended 30 April 2025

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Motor vehicles	25% reducing balance
Plant & machinery	15% on cost
Computer equipment	33% on cost
Furniture & fittings	33% on cost

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Provisions

Provisions are recognised when the company has an obligation at the reporting date as a result of a past event, it is probable that the company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Palm (Yorkshire) Limited

Notes to the Financial Statements for the Year Ended 30 April 2025

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 28 (2024 - 34).

4	Tangible assets

	Furniture, fittings and equipment  £	Motor vehicles  £	Other tangible assets £	Total £
Cost or valuation
At 1 May 2024	25,891	718,137	614	744,642
Additions	583	54,612	-	55,195
At 30 April 2025	26,474	772,749	614	799,837
Depreciation
At 1 May 2024	25,891	426,461	614	452,966
Charge for the year	96	72,919	-	73,015
At 30 April 2025	25,987	499,380	614	525,981
Carrying amount
At 30 April 2025	487	273,369	-	273,856
At 30 April 2024	-	291,676	-	291,676

Palm (Yorkshire) Limited

Notes to the Financial Statements for the Year Ended 30 April 2025

5

stocks

	2025 £	2024 £
Other inventories	20,000	15,000

6

Debtors

Current	2025 £	2024 £
Trade debtors	604,161	563,190
Other debtors	91,607	169,564
	695,768	732,754

7

Creditors

Creditors: amounts falling due within one year

	2025 £	2024 £
Due within one year
trade creditors	72,081	261,726
Taxation and social security	461,177	414,259
Other creditors	42,550	39,685
	575,808	715,670

8	Share capital

Allotted, called up and fully paid shares

	2025		2024
	No.	£	No.	£
Ordinary of £1 each	2	2	2	2