Palmer Industries Limited,Ltd - AccountsLtd - Accounts

Palmer Industries Limited,Ltd - AccountsLtd - Accounts

PALMER INDUSTRIES LIMITED - Company Information

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2016-05-09 10169851 2017-05-31 10169851 2016-05-09 2017-05-31 10169851 uk-core:WithinOneYear 2017-05-31 10169851 uk-core:ShareCapital 2017-05-31 10169851 uk-core:RetainedEarningsAccumulatedLosses 2017-05-31 10169851 uk-bus:Director1 2016-05-09 2017-05-31 10169851 uk-core:ComputerEquipment 2016-05-09 2017-05-31 10169851 2 uk-bus:Director1 2016-05-09 2017-05-31 10169851 2 uk-bus:Director1 2017-05-31 iso4217:GBP 10169851 uk-bus:AuditExempt-NoAccountantsReport 2016-05-09 2017-05-31 10169851 uk-bus:FRS102 2016-05-09 2017-05-31 10169851 uk-bus:FullAccounts 2016-05-09 2017-05-31 10169851 uk-bus:PrivateLimitedCompanyLtd 2016-05-09 2017-05-31
Palmer Industries Limited
Registered Number:10169851
For the period ended 31 May 2017
England and Wales
Unaudited Financial Statements
2
For the period ended 31 May 2017
Palmer Industries Limited
Contents Page
1
Statement of Financial Position
2 to 3
Notes to the Financial Statements
3
As at 31 May 2017
Palmer Industries Limited
Statement of Financial Position
Registered Number :
10169851
£
2017
Notes
Fixed assets
Property, plant and equipment
1,274
2
1,274
Current assets
Trade and other receivables
11,847
3
Cash and cash equivalents
386
12,233
Trade and other payables: amounts falling due within one
year
(7,819)
4
4,414
Net current assets
Total assets less current liabilities
5,688
5,688
Net assets/liabilities
Capital and reserves
Called up share capital
100
Retained earnings
5,588
5,688
Shareholders' funds
For the period ended 31 May 2017 the company was entitled to exemption from audit under Section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit of its financial statements for the period ended 31 May 2017 in accordance with Section 476 of the Companies Act 2006
The director acknowledges his responsibilities for:a) ensuring that the company keeps proper 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 Section
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.
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.
The financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.
Mr Nicholas Palmer Director
These financial statements were approved and authorised for issue by the Board on 04 July 2017 and were signed by:
The notes form part of these financial statements
1 of 3
4
For the period ended 31 May 2017
Palmer Industries Limited
Notes to the Financial Statements
Statutory Information
Palmer Industries Limited is a private limited company, limited by shares, domiciled in England and Wales, registration
number 10169851.
Registered address:
1 Derwent Business Centre
Clarke street
Derby
DE1 2BU
The presentation currency is £ sterling.
1. Accounting policies
Basis of preparing the financial statements
These financial statements have been prepared in accordance with the provisions of Section 1A of Financial
Reporting Standard 102 ''The Financial Reporting Standard applicable in the UK and Republic of Ireland'' and the
Companies Act 2006. The financial statements have been prepared under the historical costs convention as
modified by the revaluation of certain assets.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax or other similar sales taxes.
Property, plant and equipment
Property, plant and equipment, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
25% Straight line
Computer Equipment
2. Property, plant and equipment
Computer
Equipment
£
Cost or
valuation
1,699
Additions
At 31 May 2017
1,699
Provision for depreciation and impairment
Charge for period
425
At 31 May 2017
425
At 31 May 2017
Net book value
1,274
2 of 3
5
For the period ended 31 May 2017
Palmer Industries Limited
Notes to the Financial Statements Continued
3. Trade and other receivables
2017
£
Other debtors
11,847
4. Trade and other payables: amounts falling due within one year
2017
£
Taxation and social security
7,819
5. Directors advances and guarantees
Loaned
Repaid
At 31/05/2017
£
£
£
Mr Nicholas Palmer
Interest free loan
11,634
15,222
3,588
11,634
15,222
3,588
6. Average number of persons employed
During the year the average number of employees was 1
3 of 3