Palmera Capital Limited - Accounts to registrar (filleted) - small 23.1.2

Palmera Capital Limited - Accounts to registrar (filleted) - small 23.1.2

PALMERA CAPITAL LIMITED - Company Information

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REGISTERED NUMBER: 09224076 (England and Wales)


Palmera Capital Limited

Abridged Unaudited Financial Statements

for the Year Ended 30 September 2022





Alton & Co
Chartered Accountants
239-241 Kennington Lane
London
SE11 5QU








Palmera Capital Limited (Registered number: 09224076)






Contents of the Financial Statements
for the year ended 30 September 2022




Page

Company Information 1

Chartered Accountants' Report 2

Abridged Statement of Financial Position 3

Notes to the Financial Statements 5


Palmera Capital Limited

Company Information
for the year ended 30 September 2022







DIRECTOR: Mr G Tezcan





REGISTERED OFFICE: 27 Old Gloucester Street
London
WC1N 3AX





REGISTERED NUMBER: 09224076 (England and Wales)





ACCOUNTANTS: Alton & Co
Chartered Accountants
239-241 Kennington Lane
London
SE11 5QU
Page 1
Chartered Accountants' Report to the Director
on the Unaudited Financial Statements of
Palmera Capital Limited

The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Statement of Financial Position. Readers are cautioned that the Abridged Income Statement and certain other primary statements and the Report of the Director are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Palmera Capital Limited for the year ended 30 September 2022 which comprise the Abridged Statement of Income and Retained Earnings, Abridged Statement of Financial Position and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the director of Palmera Capital Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Palmera Capital Limited and state those matters that we have agreed to state to the director of Palmera Capital Limited in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Palmera Capital Limited and its director for our work or for this report.

It is your duty to ensure that Palmera Capital Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Palmera Capital Limited. You consider that Palmera Capital Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Palmera Capital Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Alton & Co
Chartered Accountants
239-241 Kennington Lane
London
SE11 5QU


10 April 2023

This page does not form part of the statutory financial statements

Page 2
Palmera Capital Limited (Registered number: 09224076)

Abridged Statement of Financial Position
30 September 2022

2022 2021
Notes £    £    £    £   
FIXED ASSETS
Property, plant and equipment 4 2,619 1,263
Investments 5 333,508 100,911
336,127 102,174

CURRENT ASSETS
Debtors - 1,080
Cash at bank and in hand 17,420 100,981
17,420 102,061
CREDITORS
Amounts falling due within one year 56,970 29,884
NET CURRENT (LIABILITIES)/ASSETS (39,550 ) 72,177
TOTAL ASSETS LESS CURRENT
LIABILITIES
296,577
174,351

PROVISIONS FOR LIABILITIES 6 498 240
NET ASSETS 296,079 174,111

CAPITAL AND RESERVES
Called up share capital 7 100 100
Retained earnings 8 295,979 174,011
SHAREHOLDERS' FUNDS 296,079 174,111

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2022 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 notes form part of these financial statements

Page 3 continued...
Palmera Capital Limited (Registered number: 09224076)

Abridged Statement of Financial Position - continued
30 September 2022


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

All the members have consented to the preparation of an abridged Statement of Income and Retained Earnings and an abridged Statement of Financial Position for the year ended 30 September 2022 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 10 April 2023 and were signed by:





Mr G Tezcan - Director


The notes form part of these financial statements

Page 4
Palmera Capital Limited (Registered number: 09224076)

Notes to the Financial Statements
for the year ended 30 September 2022

1. STATUTORY INFORMATION

Palmera Capital 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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 as modified by the revaluation of certain assets.

Turnover
Revenue is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Turnover is derived from the ordinary trading activities of the business and is recognised when customers obtain the right to consideration.

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 - 25% on reducing balance
Computer equipment - 25% on reducing balance

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Page 5 continued...
Palmera Capital Limited (Registered number: 09224076)

Notes to the Financial Statements - continued
for the year ended 30 September 2022

2. ACCOUNTING POLICIES - continued

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2021 - 1 ) .

4. PROPERTY, PLANT AND EQUIPMENT
Totals
£   
COST
At 1 October 2021 5,751
Additions 2,229
At 30 September 2022 7,980
DEPRECIATION
At 1 October 2021 4,488
Charge for year 873
At 30 September 2022 5,361
NET BOOK VALUE
At 30 September 2022 2,619
At 30 September 2021 1,263

5. FIXED ASSET INVESTMENTS

Information on investments other than loans is as follows:
Totals
£   
COST OR VALUATION
At 1 October 2021 100,911
Additions 459,257
Disposals (192,782 )
Revaluations (37,440 )
Dividends received 3,562
At 30 September 2022 333,508
NET BOOK VALUE
At 30 September 2022 333,508
At 30 September 2021 100,911

Page 6 continued...
Palmera Capital Limited (Registered number: 09224076)

Notes to the Financial Statements - continued
for the year ended 30 September 2022

5. FIXED ASSET INVESTMENTS - continued

Cost or valuation at 30 September 2022 is represented by:
Totals
£   
Valuation in 2021 311
Valuation in 2022 (40,017 )
Cost 373,214
333,508

If fixed asset investments had not been revalued they would have been included at the following historical cost:

2022 2021
£    £   
Cost 373,214 100,600

Fixed asset investments were valued on an open market basis on 30 September 2022 by Interactive Brokers .

6. PROVISIONS FOR LIABILITIES
2022 2021
£    £   
Deferred tax 498 240

Deferred
tax
£   
Balance at 1 October 2021 240
Charge to Statement of Income and Retained Earnings during year 258
Balance at 30 September 2022 498

7. CALLED UP SHARE CAPITAL


Allotted, issued and fully paid:
Number: Class: Nominal 2022 2021
value: £    £   
100 Ordinary £1 100 100

Page 7 continued...
Palmera Capital Limited (Registered number: 09224076)

Notes to the Financial Statements - continued
for the year ended 30 September 2022

8. RESERVES
Retained
earnings
£   

At 1 October 2021 174,011
Profit for the year 121,968
At 30 September 2022 295,979

9. RELATED PARTY DISCLOSURES

Included in creditors are amounts owed to key management personnel of £18,981 (2021: £28,870) at balance sheet date.This is an interest free loan and is repayable on demand.

Page 8