Abbreviated Company Accounts - PALM NEW PRODUCTS LIMITED

PALM NEW PRODUCTS LIMITED - Company Information

07508031 PALM NEW PRODUCTS LIMITED 2016-05-31 false 2015-06-01 2016-05-31 true 07508031 2015-06-01 2016-05-31 07508031 2016-05-31 07508031 2015-05-31 07508031 uk-gaap-cd-bus:Director1 2015-06-01 2016-05-31 07508031 uk-gaap-cd-bus:Director2 2015-06-01 2016-05-31 uk-gaap-cd-bus:OrdinaryShareClass1 2015-06-01 2016-05-31 uk-gaap-cd-bus:OrdinaryShareClass1 2016-05-31 uk-gaap-cd-bus:OrdinaryShareClass1 2015-05-31 iso4217:GBP shares

Registered Number 07508031

PALM NEW PRODUCTS LIMITED

Abbreviated Accounts

31 May 2016

PALM NEW PRODUCTS LIMITED Registered Number 07508031

Abbreviated Balance Sheet as at 31 May 2016

	Notes	2016	2015
		£	£
Current assets
Debtors		158,833	284
Cash at bank and in hand		94,388	16,277
		253,221	16,561
Creditors: amounts falling due within one year		(231,829)	(3,859)
Net current assets (liabilities)		21,392	12,702
Total assets less current liabilities		21,392	12,702
Total net assets (liabilities)		21,392	12,702
Capital and reserves
Called up share capital	2	1	1
Profit and loss account		21,391	12,701
Shareholders' funds		21,392	12,702

For the year ending 31 May 2016 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

Approved by the Board on 23 August 2016

And signed on their behalf by:
S R Pringle, Director

PALM NEW PRODUCTS LIMITED Registered Number 07508031

Notes to the Abbreviated Accounts for the period ended 31 May 2016

1Accounting Policies

Basis of measurement and preparation of accounts
The accounts have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities effective April 2008.

Turnover policy
Turnover represents amounts receivable for goods and services net of VAT and trade discounts.

Other accounting policies
Foreign currency translation
Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. All differences are taken to profit and loss account.

Ultimate parent company
The company is controlled by Palm Advisory Limited.

2Called Up Share Capital
Allotted, called up and fully paid:

	2016 £	2015 £
1 Ordinary shares of £1 each	1	1