Palmer Supplies Limited

Financial Statements for the Year Ended 30 November 2025

DIRECTORS:

J Palmer

G Palmer

S L Palmer

REGISTERED OFFICE:

Mistral

Over Stratton

South Petherton

Somerset

TA13 5LL

REGISTERED NUMBER:

04580291 (England and Wales)

ACCOUNTANTS:

BPU Limited

Chartered Accountants

Radnor House

Greenwood Close

Cardiff Gate Business Park

Cardiff

CF23 8AA

BANKERS:

Natwest

2 Hanford

Yeovil

Somerset

BA21 4NL

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Palmer Supplies Limited for the year ended 30 November 2025 which comprise the Profit & Loss Account, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at icaew.com/membershandbook.

This report is made solely to the Board of Directors of Palmer Supplies Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Palmer Supplies Limited and state those matters that we have agreed to state to the Board of Directors of Palmer Supplies Limited, as a body, in this report in accordance with icaew/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Palmer Supplies Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Palmer Supplies Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Palmer Supplies Limited. You consider that Palmer Supplies Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Palmer Supplies Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

BPU Limited

Chartered Accountants

7 May 2026

FIXED ASSETS

Intangible assets

3

-

-

Tangible assets

4

768

990

768

990

CURRENT ASSETS

Stocks

2,500

2,500

Debtors

5

48,205

39,328

Cash at bank

80,906

58,638

131,611

100,466

CREDITORS

Amounts falling due within one year

6

120,138

81,983

NET CURRENT ASSETS

11,473

18,483

TOTAL ASSETS LESS CURRENT LIABILITIES

12,241

19,473

PROVISIONS FOR LIABILITIES

330

330

NET ASSETS

11,911

19,143

CAPITAL AND RESERVES

Called up share capital

200

200

Retained earnings

11,711

18,943

SHAREHOLDERS' FUNDS

11,911

19,143

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 2025 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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 & Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 7 May 2026 and were signed on its behalf by:

G Palmer - Director

1.	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 historical cost convention.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill

Goodwill is being amortised in equal instalments over its estimated economic life of 20 years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Fixtures and fittings

-

20% reducing balance

Motor vehicles

-

25% reducing balance

Plant & equipment

-

20% reducing balance

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Pension costs

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

2.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2024 - 4 ) .

3.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 December 2024

and 30 November 2025

70,000

AMORTISATION

At 1 December 2024

and 30 November 2025

70,000

NET BOOK VALUE

At 30 November 2025

-

At 30 November 2024

-

4.	TANGIBLE FIXED ASSETS

Fixtures

and

Motor

Plant &

fittings

vehicles

equipment

Totals

£

£

£

£

COST

At 1 December 2024

and 30 November 2025

2,030

28,600

11,228

41,858

DEPRECIATION

At 1 December 2024

1,823

28,112

10,933

40,868

Charge for year

41

122

59

222

At 30 November 2025

1,864

28,234

10,992

41,090

NET BOOK VALUE

At 30 November 2025

166

366

236

768

At 30 November 2024

207

488

295

990

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

47,735

38,507

Prepayments

470

821

48,205

39,328

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade creditors

47,878

41,199

Taxes & social security costs

11,003

8,995

Other creditors & accruals

61,257

31,789

120,138

81,983