REGISTERED NUMBER: 15772053 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE PERIOD 11 JUNE 2024 TO 30 JUNE 2025

FOR

PALMER COMMERCIAL LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

M Palmer

C G Palmer

REGISTERED OFFICE:

Cranford House

Sleep Lane

Whitchurch

Bristol

BS14 0QN

REGISTERED NUMBER:

15772053 (England and Wales)

ACCOUNTANTS:

Burnside

Chartered Accountants

61 Queen Square

Bristol

BS1 4JZ

CURRENT ASSETS

Stocks

4

602,204

Cash at bank

100

602,304

CREDITORS

Amounts falling due within one year

5

604,538

NET CURRENT LIABILITIES

(2,234

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(2,234

)

CAPITAL AND RESERVES

Called up share capital

6

200

Retained earnings

(2,434

)

SHAREHOLDERS' FUNDS

(2,234

)

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

The members have not required the company to obtain an audit of its financial statements for the period ended 30 June 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 25 August 2026 and were signed on its behalf by:

M Palmer - Director

1.	STATUTORY INFORMATION

Palmer Commercial Limited 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.

The presentation currency of the financial statements is the Pound Sterling (£).

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.

Stocks and work in progress

Work in progress and development land are reviewed on a site by site basis and stated at the lower of cost and net realisable value.

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.

Financial instruments

Financial assets and liabilities are recognised in the balance sheet when the company becomes party to the contractual provisions of the instrument.

Trade and other debtors and creditors are classified as basic financial instruments and are measured on initial recognition at transaction price. Debtors and creditors are subsequently measured at amortised cost using the effective interest rate method. A provision is established when there is objective evidence that the company may not be able to collect all amounts due.

Cash and cash equivalents are classified as basic financial instruments and comprise cash in hand and at bank.

Financial liabilities and equity instruments issued by the company are classified in accordance with the substance of the contractual arrangements entered into and the definitions of a financial liability and an equity instrument. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Equity instruments issued by the company are recorded at the proceeds received, net of any direct issue costs.

Going concern

The directors have reviewed the going concern status of the business for the foreseeable future. The directors fully expect that the company will remain a going concern and will have sufficient working capital to meet its requirements for the foreseeable future. The directors have confirmed that they will ensure that the company has sufficient funds to meet all of its liabilities as and when they fall due and will not seek repayment of any monies owed to them unless funds allow. The directors have therefore adopted the going concern basis of accounting in preparing these financial statements.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the period was NIL.

4.

STOCKS

£

Work-in-progress

602,204

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

£

Directors' current accounts

603,638

Accruals and deferred income

900

604,538

6.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

value:

£

100

Ordinary A

£1

100

100

Ordinary B

£1

100

200

The following shares were allotted and fully paid for cash at par during the period:

100 Ordinary A shares of £1 each

100 Ordinary B shares of £1 each

7.	RELATED PARTY DISCLOSURES

As at 30 June 2025 the company owed the directors £603,638 in respect of loans made to the company. No interest is being charged on these loans. The loans have no set repayment terms and are repayable on demand.

8.	ULTIMATE CONTROLLING PARTY

The company was under the control of M Palmer and C G Palmer throughout the year. Both are directors and each own 50% of the issued share capital of the company.