Palmstone Estates Limited - Accounts to registrar (filleted)

REGISTERED NUMBER: 01978466 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2026

FOR

PALMSTONE ESTATES LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

S J Bunting

D H Godfrey

SECRETARY:

S J Bunting

REGISTERED OFFICE:

12 Market Street

Hebden Bridge

West Yorkshire

HX7 6AD

REGISTERED NUMBER:

01978466 (England and Wales)

ACCOUNTANTS:

Cresswells

12 Market Street

Hebden Bridge

West Yorkshire

HX7 6AD

BANKERS:

National Westminster Bank Plc

Nottingham Smiths Bank Branch

16 South Parade

Nottingham

Nottinghamshire

NG1 2JX

SOLICITORS:

Larken & Co

10 Lombard Street

Newark

Nottinghamshire

NG24 1XE

FIXED ASSETS

Investment property

4

1,250,000

CURRENT ASSETS

Debtors

5

2,333

2,390

Cash at bank

121,487

95,957

123,820

98,347

CREDITORS

Amounts falling due within one year

6

56,873

21,550

NET CURRENT ASSETS

66,947

76,797

TOTAL ASSETS LESS CURRENT
LIABILITIES

1,316,947

1,326,797

CREDITORS

Amounts falling due after more than
one year

7

(175,000

)

(175,000

)

PROVISIONS FOR LIABILITIES

8

(66,823

)

(66,823

)

NET ASSETS

1,075,124

1,084,974

CAPITAL AND RESERVES

Called up share capital

9

80,000

Fair value reserve

10

681,343

Retained earnings

313,781

323,631

SHAREHOLDERS' FUNDS

1,075,124

1,084,974

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st March 2026.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st March 2026 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 23rd September 2026 and were signed on its behalf by:

D H Godfrey - Director

1.	STATUTORY INFORMATION

Palmstone Estates 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 as modified by the revaluation of certain assets.

Turnover

Turnover represents the invoiced amounts of rental income received stated net of value added tax.

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2025 - 2 ) .

4.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1st April 2025

and 31st March 2026

1,250,000

NET BOOK VALUE

At 31st March 2026

1,250,000

At 31st March 2025

1,250,000

Fair value at 31st March 2026 is represented by:

£

Valuation in 2003

257,384

Valuation in 2007

217,500

Valuation in 2013

308,282

Valuation in 2015

15,000

Valuation in 2016

20,000

Valuation in 2023

(70,000

)

Cost

501,834

1,250,000

If investment properties had not been revalued they would have been included at the following historical cost:

2026

2025

£

Cost

501,834

Aggregate depreciation

(301,189

)

(301,189

)

Investment properties were valued on an open market basis on 31st March 2026 by the directors .

No depreciation has been provided on investment properties. If depreciation had been charged on investment properties, there would have been a charge to the profit and loss account of £10,036 (2025 - £10,036)

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2026

2025

£

Prepayments and accrued income

2,333

2,390

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2026

2025

£

Tax

18,489

10,863

VAT

4,350

1,253

Other creditors

25,000

-

Directors' current accounts

14

Accrued expenses

9,020

9,420

56,873

21,550

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR

2026

2025

£

Other loan - Staroche Pension Scheme

175,000

8.	PROVISIONS FOR LIABILITIES

2026

2025

£

Deferred tax

66,823

Deferred

tax

£

Balance at 1st April 2025

66,823

Balance at 31st March 2026

66,823

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2026

2025

value:

£

80,000

Ordinary

£1

80,000

10.

RESERVES

Fair

value

reserve

£

At 1st April 2025

and 31st March 2026

681,343

11.	RELATED PARTY DISCLOSURES

During the year, the company paid dividends of £NIL (2025: £6,250) to the directors.

The company paid dividends of £28,125 (2025: £18,750) to Staroche Pension Scheme, a director of this company is a member and trustee of this scheme.

The company owed Staroche Pension Scheme £175,000 (2025: £175,000).

The company paid dividends of £46,875 (2025: £25,000) to Wendgreen Limited, a director of this company is also a director and shareholder of Wendgreen Limited.