Palmer Homes Limited - Accounts to registrar (filleted)

REGISTERED NUMBER: 03621894 (England and Wales)

Unaudited Financial Statements for the Year Ended 28 February 2026

for

Palmer Homes Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

S J Palmer

REGISTERED OFFICE:

Aqua

35 Greenhill

Weymouth

Dorset

DT4 7SW

REGISTERED NUMBER:

03621894 (England and Wales)

ACCOUNTANTS:

RWB Tax Consultants Limited

G8 Lynch Lane Offices

79 Lynch Lane

Weymouth

Dorset

DT4 9DN

FIXED ASSETS

Tangible assets

4

15,388

19,451

CURRENT ASSETS

Stocks

5

1,696,225

1,609,619

Debtors

6

45,519

310,494

Cash at bank

146,045

306,238

1,887,789

2,226,351

CREDITORS

Amounts falling due within one year

7

5,063

250,742

NET CURRENT ASSETS

1,882,726

1,975,609

TOTAL ASSETS LESS CURRENT
LIABILITIES

1,898,114

1,995,060

PROVISIONS FOR LIABILITIES

2,924

3,537

NET ASSETS

1,895,190

1,991,523

CAPITAL AND RESERVES

Called up share capital

8

2

Retained earnings

1,895,188

1,991,521

SHAREHOLDERS' FUNDS

1,895,190

1,991,523

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2026.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 2026 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 director and authorised for issue on 14 October 2026 and were signed by:

S J Palmer - Director

1.	STATUTORY INFORMATION

Palmer Homes 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.

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.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery

-

15% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

33% on reducing balance

Stocks

Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2025 - 1 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

Motor

Computer

machinery

vehicles

equipment

Totals

£

COST

At 1 March 2025

and 28 February 2026

39,766

59,439

2,422

101,627

DEPRECIATION

At 1 March 2025

31,101

49,482

1,593

82,176

Charge for year

1,300

2,489

274

4,063

At 28 February 2026

32,401

51,971

1,867

86,239

NET BOOK VALUE

At 28 February 2026

7,365

7,468

555

15,388

At 28 February 2025

8,665

9,957

829

19,451

5.

STOCKS

28.2.26

28.2.25

£

Work-in-progress

1,696,225

1,609,619

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

28.2.26

28.2.25

£

Directors' current accounts

42,385

49,643

VAT

3,134

260,851

45,519

310,494

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

28.2.26

28.2.25

£

Bank loans and overdrafts

1,035

912

Trade creditors

316

243,916

Accrued expenses

3,712

5,914

5,063

250,742

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

28.2.26

28.2.25

value:

£

2

Ordinary

£1

2

9.	OTHER FINANCIAL COMMITMENTS

At the year end, the company had nil charges (2021 - 3) secured against loans.

10.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 28 February 2026 and 28 February 2025:

28.2.26

28.2.25

£

S J Palmer

Balance outstanding at start of year

49,643

32,552

Amounts advanced

47,742

52,091

Amounts repaid

(55,000

)

(35,000

)

Amounts written off

-

Amounts waived

-

Balance outstanding at end of year

42,385

49,643

11.	ULTIMATE CONTROLLING PARTY

The controlling party is S J Palmer.