PALM 2 PALM LTD - Filleted accounts

Registered number

10832209

PALM 2 PALM LTD

Filleted Accounts

21 June 2025

PALM 2 PALM LTD
Registered number:		10832209
Balance Sheet
as at 21 June 2025

Notes			2025			2024
£				£
Fixed assets
Tangible assets	3		635,338			444,526

Current assets
Debtors	4	21,714			44,324
Cash at bank and in hand		79,740			81,983
		101,454			126,307

Creditors: amounts falling due within one year	5	(100,211)			(215,129)

Net current assets/(liabilities)			1,243			(88,822)

Total assets less current liabilities			636,581			355,704

Creditors: amounts falling due after more than one year	6		(391,122)			(60,280)



Net assets			245,459			295,424

Capital and reserves
Called up share capital			100			100
Profit and loss account			245,359			295,324

Shareholders' funds			245,459			295,424

The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.




MUSTAFA MERT GULHAN
Director
Approved by the board on 1 September 2026

PALM 2 PALM LTD
Notes to the Accounts
for the period from 1 July 2024 to 21 June 2025


1	Accounting policies

	Basis of preparation
	The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).

	Turnover
	Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.


	Tangible fixed assets
	Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:

	Freehold buildings	over 50 years
	Leasehold land and buildings	over the lease term
	Plant and machinery	20% reducing balance
	Fixtures, fittings, tools and equipment	20% reducing balance


	Debtors
	Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.

	Creditors
	Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.



	Taxation
	A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.


2	Employees			2025		2024
Number					Number

	Average number of persons employed by the company			68		68

3	Tangible fixed assets
		Land and buildings		Plant and machinery etc		Total
£			£		£
	Cost
	At 1 July 2024	425,488		46,125		471,613
	Additions	194,620		-		194,620
	At 21 June 2025	620,108		46,125		666,233

	Depreciation
	At 1 July 2024	-		27,087		27,087
	Charge for the period	-		3,808		3,808
	At 21 June 2025	-		30,895		30,895

	Net book value
	At 21 June 2025	620,108		15,230		635,338
	At 30 June 2024	425,488		19,038		444,526


4	Debtors			2025		2024
£					£

	Other debtors			21,714		44,324


5	Creditors: amounts falling due within one year			2025		2024
£					£

	Directors Loan Account			4,358		113,479
	Accountancy			15,500		11,500
	Taxation and social security costs			80,353		90,150
				100,211		215,129


6	Creditors: amounts falling due after one year			2025		2024
£					£

	Bank loans			391,122		60,280


7	Other information

	PALM 2 PALM LTD is a private company limited by shares and incorporated in England. Its registered office is:
	286B CHASE ROAD
	SOUTHGATE
	LONDON
	N14 6HF