Company No: 16146095 (England and Wales)

Contents

• Statement of Financial Position
• Notes to the Financial Statements

	Note	31.12.2025
		£
Fixed assets
Investment property	3	585,994
Investments	4	1,500,783
		2,086,777
Current assets
Stocks		7,913
Debtors	5	770,583
Cash at bank and in hand		21,324
		799,820
Creditors: amounts falling due within one year	6	( 2,409,050)
Net current liabilities		(1,609,230)
Total assets less current liabilities		477,547
Creditors: amounts falling due after more than one year	7	( 479,499)
Net liabilities		( 1,952)
Capital and reserves
Called-up share capital	8	880
Profit and loss account		( 2,832 )
Total shareholders' deficit		( 1,952)

For the financial period ending 31 December 2025 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

• The members have not required the Company to obtain an audit of its financial statements for the financial period in accordance with section 476;
• The director acknowledges their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements; and
• These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Statement of Income and Retained Earnings has not been delivered.

The financial statements of Palmer 22 Limited (registered number: 16146095) were approved and authorised for issue by the Director on 18 September 2026. They were signed on its behalf by:

J A Palmer Director

1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial period, unless otherwise stated.

General information and basis of accounting

Palmer 22 Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is C/O Fine And Classic Llp Shop Area, Main Road, Salcombe, TQ8 8NA, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The director has assessed the Statement of Financial Position and likely future cash flows at the date of approving these financial statements. The director has a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Reporting period length

The company was incorporated on the 20 December 2024. The reporting period length is therefore 20 December 2024 to 31 December 2025 for the company's first financial period.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.

Investment property

Investment property is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at each reporting date with changes in fair value recognised in profit or loss. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost includes materials, direct labour and an attributable proportion of manufacturing overheads based on normal levels of activity. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Statement of Financial Position when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Ordinary share capital

The ordinary share capital of the Company is presented as equity.

2. Employees

	Period from 20.12.2024 to 31.12.2025
	Number
Monthly average number of persons employed by the Company during the period, including the director	0

3. Investment property

	Investment property
	£
Valuation
As at 20 December 2024	0
Additions	585,994
As at 31 December 2025	585,994

4. Fixed asset investments

Investments in subsidiaries

	31.12.2025
	£
Cost
At 20 December 2024	0
Additions	1,500,783
At 31 December 2025	1,500,783
Carrying value at 31 December 2025	1,500,783

5. Debtors

	31.12.2025
	£
Amounts owed by Group undertakings	770,583

6. Creditors: amounts falling due within one year

	31.12.2025
	£
Amounts owed to Group undertakings	3
Amounts owed to director	2,405,627
Accruals	3,420
	2,409,050

7. Creditors: amounts falling due after more than one year

	31.12.2025
	£
Other loans (secured)	479,499

Included within creditors is a bridging loan of £479,499 which is secured by a charge registered at Companies House. The lender holds security over the company's assets in accordance with the terms of the charge. The carrying value of the secured liability at the reporting date was £479,499.

8. Called-up share capital

	31.12.2025
	£
Allotted, called-up and fully-paid
440 Ordinary shares of £ 1.00 each	440
440 B Ordinary shares of £ 1.00 each	440
	880

During the year, 440 Ordinary shares of £1 each and 440 Ordinary B shares of £1 were allotted and issued at par value.

9. Related party transactions

Transactions with the entity's director

	31.12.2025
	£
Amounts owed to directors	2,405,627

This loan is interest free and there is no set date for repayment