Abbreviated Company Accounts - PALMS PALACE LIMITED

Abbreviated Company Accounts - PALMS PALACE LIMITED

PALMS PALACE LIMITED - Company Information

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Registered Number 04674712

PALMS PALACE LIMITED

Abbreviated Accounts

31 July 2014

PALMS PALACE LIMITED Registered Number 04674712

Abbreviated Balance Sheet as at 31 July 2014

Notes 2014 2013
£ £
Fixed assets
Intangible assets 2 13,000 14,000
Tangible assets 3 14,591 15,954
27,591 29,954
Current assets
Stocks 2,560 4,150
Debtors 84,079 92,443
Cash at bank and in hand 27,618 2,455
114,257 99,048
Creditors: amounts falling due within one year (129,822) (126,171)
Net current assets (liabilities) (15,565) (27,123)
Total assets less current liabilities 12,026 2,831
Total net assets (liabilities) 12,026 2,831
Capital and reserves
Called up share capital 2 2
Profit and loss account 12,024 2,829
Shareholders' funds 12,026 2,831
  • For the year ending 31 July 2014 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 26 November 2014

And signed on their behalf by:
Qais Majeed Ali, Director

PALMS PALACE LIMITED Registered Number 04674712

Notes to the Abbreviated Accounts for the period ended 31 July 2014

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 the total invoice value, excluding value added tax, of sales made during the year and derives from the provision of goods falling within the company's ordinary activities.

2Intangible fixed assets
£
Cost
At 1 August 2013 20,000
Additions -
Disposals -
Revaluations -
Transfers -
At 31 July 2014 20,000
Amortisation
At 1 August 2013 6,000
Charge for the year 1,000
On disposals -
At 31 July 2014 7,000
Net book values
At 31 July 2014 13,000
At 31 July 2013 14,000
3Tangible fixed assets
£
Cost
At 1 August 2013 194,438
Additions 3,500
Disposals -
Revaluations -
Transfers -
At 31 July 2014 197,938
Depreciation
At 1 August 2013 178,484
Charge for the year 4,863
On disposals -
At 31 July 2014 183,347
Net book values
At 31 July 2014 14,591
At 31 July 2013 15,954