Registration number: 04777876

Palm Assets Limited

Contents

Company Information	1
Balance Sheet	2 to 3
Notes to the Unaudited Financial Statements	4 to 8

Palm Assets Limited

Company Information

Directors

Mr Martin Howard Bandel Mr Adam Benjamin Bowers

Registered office

42-46 Station Road Edgware Middlesex HA8 7AB

Accountants

Kajaine Kafton LLP Chartered Accountants42-46 Station Road Edgware Middlesex HA8 7AB

Palm Assets Limited

(Registration number: 04777876)
Balance Sheet as at 30 September 2025

	Note	2025 £	2024 £
Fixed assets
Tangible assets	4	7,602	14,910
Investment property	5	4,020,000	4,020,000
		4,027,602	4,034,910
Current assets
Debtors	6	430,251	387,172
Cash at bank and in hand		204,191	182,357
		634,442	569,529
Creditors: Amounts falling due within one year	7	(1,040,616)	(790,476)
Net current liabilities		(406,174)	(220,947)
Total assets less current liabilities		3,621,428	3,813,963
Creditors: Amounts falling due after more than one year	7	(1,686,109)	(1,701,594)
Net assets		1,935,319	2,112,369
Capital and reserves
Called up share capital		50,000	50,000
Retained earnings		1,885,319	2,062,369
Shareholders' funds		1,935,319	2,112,369

For the financial year ending 30 September 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

•	The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
•	The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 31 July 2026 and signed on its behalf by:
 

Palm Assets Limited

(Registration number: 04777876)
Balance Sheet as at 30 September 2025

......................................... Mr Martin Howard Bandel Director

......................................... Mr Adam Benjamin Bowers Director

Palm Assets Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2025

1	General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
42-46 Station Road
Edgware
Middlesex
HA8 7AB
England

These financial statements were authorised for issue by the Board on 31 July 2026.

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Palm Assets Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2025

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Palm Assets Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2025

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2024 - 2).

Palm Assets Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2025

4	Tangible assets

	Furniture, fittings and equipment  £	Total £
Cost or valuation
At 1 October 2024	153,827	153,827
At 30 September 2025	153,827	153,827
Depreciation
At 1 October 2024	138,917	138,917
Charge for the year	7,308	7,308
At 30 September 2025	146,225	146,225
Carrying amount
At 30 September 2025	7,602	7,602
At 30 September 2024	14,910	14,910

5	Investment properties

	2025 £
At 1 October	4,020,000
At 30 September	4,020,000

There has been no valuation of investment property by an independent valuer.

6

Debtors

Current	Note	2025 £	2024 £
Trade debtors		14,824	47,850
Amounts owed by related parties	8	414,947	333,832
Prepayments		480	1,183
Other debtors		-	4,307
		430,251	387,172

Palm Assets Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2025

7

Creditors

Creditors: amounts falling due within one year

	Note	2025 £	2024 £
Due within one year
Current Loans & Borrowings		27,985	102,449
Trade creditors		60,442	6,597
Taxation and social security		6,614	16,085
Other creditors		800,893	512,917
Accrued expenses		101,262	114,318
Corporation tax payable		43,420	38,110
		1,040,616	790,476
Due after one year
Loans and borrowings		1,686,109	1,701,594

Creditors: amounts falling due after more than one year

8	Related party transactions

During the year, dividends of £150,000 were credited to the loan account of Daniel Bowers and £150,000 were credited to the loan account of Elizabeth Bowers. The dividends were credited to the respective shareholder loan accounts and remained outstanding at the year end. The closing balance on Daniel Bowers' loan account was £189,381 (2024: £39,381) and the closing balance on Elizabeth Bowers' loan account was £150,000 (2024: £NIL). The balance is included within other creditors.

Directors' remuneration

The directors' remuneration for the year was as follows:

	2025 £	2024 £
Remuneration	9,000	11,019

Summary of transactions with all entities with joint control or significant interest

During the year unsecured loans of £81,114.51 were advanced to Dennyvale Ltd, a company under common control with the company through shared directors. At the balance sheet date the amount due from Dennyvale Ltd was £414,946.51 (2024: £333,832.00). The balance is included within other debtors.