REGISTERED NUMBER: 13760503 (England and Wales)

Unaudited Financial Statements for the Year Ended 30 November 2025

for

PALLADIO 2 LTD

Page

Company Information

1

Chartered Accountants' Report

2

Balance Sheet

3

Notes to the Financial Statements

5

DIRECTORS:

L McIlroy

M G J Leonard

REGISTERED OFFICE:

11 Laura Place

Bath

BA2 4BL

REGISTERED NUMBER:

13760503 (England and Wales)

ACCOUNTANTS:

Richardson Swift

Chartered Accountants

11 Laura Place

Bath

BA2 4BL

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 Palladio 2 Ltd for the year ended 30 November 2025 which comprise the Income Statement, Balance Sheet, Statement of Changes in Equity 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 http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Palladio 2 Ltd, 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 Palladio 2 Ltd and state those matters that we have agreed to state to the Board of Directors of Palladio 2 Ltd, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Palladio 2 Ltd and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Palladio 2 Ltd 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 Palladio 2 Ltd. You consider that Palladio 2 Ltd 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 Palladio 2 Ltd. 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.

Richardson Swift

Chartered Accountants

11 Laura Place

Bath

BA2 4BL

21 August 2026

FIXED ASSETS

Intangible assets

4

429,920

501,573

Tangible assets

5

27,048

30,237

456,968

531,810

CURRENT ASSETS

Debtors

6

16,374

15,669

Cash at bank and in hand

23,462

42,456

39,836

58,125

CREDITORS

Amounts falling due within one year

7

331,756

279,906

NET CURRENT LIABILITIES

(291,920

)

(221,781

)

TOTAL ASSETS LESS CURRENT LIABILITIES

165,048

310,029

CREDITORS

Amounts falling due after more than one year

8

(65,333

)

(163,333

)

PROVISIONS FOR LIABILITIES

10

(5,139

)

(7,559

)

NET ASSETS

94,576

139,137

CAPITAL AND RESERVES

Called up share capital

11

2

2

Retained earnings

94,574

139,135

SHAREHOLDERS' FUNDS

94,576

139,137

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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 4 August 2026 and were signed on its behalf by:

M G J Leonard - Director

1.	STATUTORY INFORMATION

Palladio 2 Ltd is a private company, limited by shares , registered in England and Wales. 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.

Critical accounting judgements and key sources of estimation uncertainty

No significant judgements or key assumptions have had to be made by directors in preparing these financial statements.

Turnover

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

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2022, is being amortised evenly over its estimated useful life of ten 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 the cost less estimated residual value of each asset over its estimated useful life.

Fixtures and fittings

-

15% on reducing balance

Plant and machinery

-

15% on reducing balance

Computer equipment

-

25% on reducing balance

Taxation

Taxation for the year 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 year 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.

Pension costs and other post-retirement benefits

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.

Financial instruments

The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors, loans from banks and other third parties.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the profit or loss.

For financial assets measured at amortised cost, the impairment loss is measured as the difference between an asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate determined under the contract.

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and the best estimate, which is an approximation, of the amount the company would receive for the asset if it were to be sold at the reporting date.

Financial assets and liabilities are offset and the net amount reported in the balance sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2024 - 5 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 December 2024

and 30 November 2025

716,533

AMORTISATION

At 1 December 2024

214,960

Amortisation for year

71,653

At 30 November 2025

286,613

NET BOOK VALUE

At 30 November 2025

429,920

At 30 November 2024

501,573

5.	TANGIBLE FIXED ASSETS

Fixtures

and

Plant and

Computer

fittings

machinery

equipment

Totals

£

£

£

£

COST

At 1 December 2024

44,217

1,119

4,077

49,413

Additions

1,150

538

-

1,688

At 30 November 2025

45,367

1,657

4,077

51,101

DEPRECIATION

At 1 December 2024

17,062

56

2,058

19,176

Charge for year

4,172

200

505

4,877

At 30 November 2025

21,234

256

2,563

24,053

NET BOOK VALUE

At 30 November 2025

24,133

1,401

1,514

27,048

At 30 November 2024

27,155

1,063

2,019

30,237

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Other debtors

16,374

15,669

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Bank loans and overdrafts

98,000

98,000

Trade creditors

21,947

2,366

Taxation and social security

120,767

98,001

Other creditors

91,042

81,539

331,756

279,906

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2025

2024

£

£

Bank loans

65,333

163,333

9.	SECURED DEBTS

HSBC UK Bank PLC holds a fixed and floating charge over all assets. Part of the property or undertaking has been released from the charge.

10.	PROVISIONS FOR LIABILITIES

2025

2024

£

£

Deferred tax

5,139

7,559

Deferred

tax

£

Balance at 1 December 2024

7,559

Accelerated capital allowances

(2,420

)

Balance at 30 November 2025

5,139

11.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2025

2024

value:

£

£

2

Ordinary

£1

2

2

12.	LEASE COMMITMENTS

At the year end the company had outstanding lease commitments totalling £6,000. (2024: £24,866)