Palmer Squared Limited,Ltd - AccountsLtd - Accounts

Palmer Squared Limited,Ltd - AccountsLtd - Accounts

PALMER SQUARED LIMITED - Company Information

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2019-04-01 05415226 2020-03-31 05415226 2019-04-01 2020-03-31 05415226 2019-03-31 05415226 2018-04-01 2019-03-31 05415226 uk-core:WithinOneYear 2019-03-31 05415226 uk-core:WithinOneYear 2020-03-31 05415226 uk-core:ShareCapital 2020-03-31 05415226 uk-core:ShareCapital 2019-03-31 05415226 uk-core:RetainedEarningsAccumulatedLosses 2020-03-31 05415226 uk-core:RetainedEarningsAccumulatedLosses 2019-03-31 05415226 uk-bus:Director1 2019-04-01 2020-03-31 05415226 uk-bus:Director2 2019-04-01 2020-03-31 05415226 uk-core:ComputerEquipment 2019-04-01 2020-03-31 05415226 uk-core:CommercialMotorVehicles 2019-04-01 2020-03-31 05415226 uk-core:FurnitureFittings 2019-04-01 2020-03-31 iso4217:GBP xbrli:pure 05415226 uk-bus:AuditExemptWithAccountantsReport 2019-04-01 2020-03-31 05415226 uk-bus:FRS102 2019-04-01 2020-03-31 05415226 uk-bus:FullAccounts 2019-04-01 2020-03-31 05415226 uk-bus:PrivateLimitedCompanyLtd 2019-04-01 2020-03-31
Palmer Squared Limited
Registered Number:05415226
For the year ended 31 March 2020
England and Wales
Unaudited Financial Statements
2
For the year ended 31 March 2020
Palmer Squared Limited
Contents Page
1
Statement of Financial Position
2 to 3
Notes to the Financial Statements
3
Registered Number :
05415226
As at 31 March 2020
Palmer Squared Limited
Statement of Financial Position
£
£
2019
2020
Notes
Fixed assets
Property, plant and equipment
1,295
1,523
2
1,295
1,523
Current assets
14,789
Cash and cash equivalents
22,441
22,441
14,789
Trade and other payables: amounts falling due within one
year
(15,533)
(23,262)
3
(744)
(821)
Net current liabilities
Total assets less current liabilities
474
779
474
Net assets
779
Capital and reserves
Called up share capital
2
2
Retained earnings
472
777
474
779
Shareholders' funds
For the year ended 31 March 2020 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 year ended 31 March 2020 in accordance with Section 476 of the Companies Act 2006
The directors acknowledge their 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 applicable to companies subject to the small companies regime.
Mr Andrew Palmer Director
Miss Helen Palmer Director
These financial statements were approved and authorised for issue by the Board on 10 September 2020 and were signed by:
The notes form part of these financial statements
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4
For the year ended 31 March 2020
Palmer Squared Limited
Notes to the Financial Statements
Statutory Information
Palmer Squared Limited is a private limited company, limited by shares, domiciled in England and Wales, registration
number 05415226.
Principal place of business:
Cliftonville
83 Victoria Road
Elland
HX5 0QA
Registered address:
103 Bradley House
Radcliffe Moor Road
Bolton
Lancs
BL2 6RT
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:
15% Reducing balance
Computer Equipment
25% Reducing balance
Motor Vehicles
15% Reducing balance
Furniture and Fittings
Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straightline basis over the period of the lease.
2 of 3
5
For the year ended 31 March 2020
Palmer Squared Limited
Notes to the Financial Statements Continued
2. Property, plant and equipment
Computer
Equipment
£
Cost or
valuation
At 01 April 2019
11,691
At 31 March 2020
11,691
Provision for depreciation and impairment
At 01 April 2019
10,168
Charge for year
228
At 31 March 2020
10,396
At 31 March 2020
Net book value
1,295
At 31 March 2019
1,523
3. Trade and other payables: amounts falling due within one year
2019
2020
£
£
Trade creditors
(1)
5,237
Taxation and social security
5,331
8,172
Other creditors
17,932
2,124
23,262
15,533
4. Average number of persons employed
During the year the average number of employees was 2 (2019 : 2)
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