Registered number
03392817
Palace Restaurant Limited
Filleted Accounts
for the year ended 31 July 2025

Palace Restaurant Limited
Registered number: | 03392817
Balance Sheet
as at 31 July 2025
Notes |  |  | 2025 |  |  | 2024
£ | £
Fixed assets
Tangible assets | 3 |  |  | 23 |  |  | 28
Current assets
Stocks |  |  | 1,075 |  |  | 842
Cash at bank and in hand |  |  | 25,656 |  |  | 32,337
|  |  | 26,731 |  |  | 33,179
Creditors: amounts falling due within one year | 4 |  | (38,175) |  |  | (31,005)
Net current (liabilities)/assets |  |  |  | (11,444) |  |  | 2,174
Net (liabilities)/assets |  |  |  | (11,421) |  |  | 2,202
Capital and reserves
Called up share capital |  |  |  | 100 |  |  | 100
Profit and loss account |  |  |  | (11,521) |  |  | 2,102
Shareholders' funds |  |  |  | (11,421) |  |  | 2,202
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.
Mr Vipinchander Khanna
Director
Approved by the board on 2 April 2026

Palace Restaurant Limited
Notes to the Accounts
for the year ended 31 July 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).
| 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 rendering of restaurant services. Turnover from the rendering of services is recognised by reference to the stage of completion.The stage of completion of a is measured by comparing the costs incurred and for work performed to date to the total estimated costs.
| 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:
| Leasehold land and buildings | Nil
| Fixtures, fittings, tools and equipment | 20% reducing balances
| Stocks
| Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
| 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.
| Taxation
| A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period.
2 | Employees | 2025 |  | 2024
Number | Number
| Average number of persons employed by the company | 2 |  | 2
3 | Tangible fixed assets
|  |  |  |  |  |  |  | Plant and machinery etc
£
| Cost
| At 1 August 2024 | 3,647
| At 31 July 2025 | 3,647
| Depreciation
| At 1 August 2024 | 3,619
| Charge for the year | 5
| At 31 July 2025 | 3,624
| Net book value
| At 31 July 2025 | 23
| At 31 July 2024 | 28
4 | Creditors: amounts falling due within one year | 2025 |  | 2024
£ | £
| Taxation and social security costs | 3,607 |  | 5,089
| Other creditors | 34,568 |  | 25,916
|  |  |  |  |  | 38,175 |  | 31,005
5 | Other information
| Palace Restaurant Limited is a private company limited by shares and incorporated in England. Its registered office is:
| 25 Balham High Road
| Balham
| London
| SW12 9AL

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