REGISTERED NUMBER: SC402908 (Scotland)

Financial Statements

for the Period 1 September 2024 to 31 December 2025

for

PALAZZO BUILDWORKS LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

Eric Palazzo

Giancarlo Palazzo

SECRETARY:

Eric Palazzo

REGISTERED OFFICE:

151-153 Main Street

Uddingston

G71 7EN

REGISTERED NUMBER:

SC402908 (Scotland)

ACCOUNTANTS:

G O Thomson & Co

Chartered Accountants

11 Clyde Street

Carluke

ML8 5BA

FIXED ASSETS

Tangible assets

4

64,915

38,871

CURRENT ASSETS

Stocks

855,000

500,000

Debtors

5

8,294

7,360

Cash at bank

24,766

508,293

888,060

1,015,653

CREDITORS

Amounts falling due within one year

6

559,562

689,153

NET CURRENT ASSETS

328,498

326,500

TOTAL ASSETS LESS CURRENT LIABILITIES

393,413

365,371

CAPITAL AND RESERVES

Called up share capital

1,020

1,000

Retained earnings

392,393

364,371

SHAREHOLDERS' FUNDS

393,413

365,371

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 31 December 2025.

The members have not required the company to obtain an audit of its financial statements for the period ended 31 December 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 6 May 2026 and were signed on its behalf by:

Eric Palazzo - Director

1.	STATUTORY INFORMATION

Palazzo Buildworks Limited is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

2.	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.

Tangible fixed assets

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

Plant and machinery

-

15% on reducing balance

Motor vehicles

-

25% on reducing balance

Stocks

Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Taxation

Taxation for the period comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the period end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the period was 2 (2024 - 2 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

Motor

Computer

machinery

vehicles

equipment

Totals

£

£

£

£

COST

At 1 September 2024

44,674

36,618

-

81,292

Additions

27,452

19,144

1,222

47,818

At 31 December 2025

72,126

55,762

1,222

129,110

DEPRECIATION

At 1 September 2024

33,267

9,154

-

42,421

Charge for period

9,715

11,652

407

21,774

At 31 December 2025

42,982

20,806

407

64,195

NET BOOK VALUE

At 31 December 2025

29,144

34,956

815

64,915

At 31 August 2024

11,407

27,464

-

38,871

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

VAT

7,177

6,054

Prepayments

1,117

1,306

8,294

7,360

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Other loans

520,000

667,000

Trade creditors

27,838

-

Tax

9,837

17,607

Social security and other taxes

-

89

Directors' current accounts

364

3,267

Accrued expenses

1,523

1,190

559,562

689,153

7.	ULTIMATE CONTROLLING PARTY

The controlling party is Eric Palazzo.