Palmtree Enterprises Ltd - Abbreviated accounts 16.1
Palmtree Enterprises Ltd - Abbreviated accounts 16.1
| REGISTERED NUMBER: |
| ABBREVIATED UNAUDITED ACCOUNTS |
| FOR THE YEAR ENDED 31 MAY 2015 |
| FOR |
| PALMTREE ENTERPRISES LTD |
| PALMTREE ENTERPRISES LTD (REGISTERED NUMBER: 04428837) |
| CONTENTS OF THE ABBREVIATED ACCOUNTS |
| FOR THE YEAR ENDED 31 MAY 2015 |
| Page |
| Company Information | 1 |
| Abbreviated Balance Sheet | 2 |
| Notes to the Abbreviated Accounts | 4 |
| PALMTREE ENTERPRISES LTD |
| COMPANY INFORMATION |
| FOR THE YEAR ENDED 31 MAY 2015 |
| DIRECTORS: |
| SECRETARY: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Chartered Accountants |
| PALMTREE ENTERPRISES LTD (REGISTERED NUMBER: 04428837) |
| ABBREVIATED BALANCE SHEET |
| 31 MAY 2015 |
| 31.5.15 | 31.5.14 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Tangible assets | 2 |
| Investment property | 3 |
| CURRENT ASSETS |
| Debtors |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year |
| NET CURRENT LIABILITIES | ( |
) | ( |
) |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year |
4 |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital | 5 |
| Revaluation reserve |
| Profit and loss account |
| SHAREHOLDERS' FUNDS |
| The directors acknowledge their 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. |
| PALMTREE ENTERPRISES LTD (REGISTERED NUMBER: 04428837) |
| ABBREVIATED BALANCE SHEET - continued |
| 31 MAY 2015 |
| The financial statements were approved by the Board of Directors on |
| PALMTREE ENTERPRISES LTD (REGISTERED NUMBER: 04428837) |
| NOTES TO THE ABBREVIATED ACCOUNTS |
| FOR THE YEAR ENDED 31 MAY 2015 |
| 1. | ACCOUNTING POLICIES |
| Accounting convention |
| The financial statements have been prepared under the historical cost convention and in accordance with the |
| Financial Reporting Standard for Smaller Entities (effective April 2008). |
| Turnover |
| Turnover represents net rent receivable, excluding value added tax. |
| Depreciation |
| Fixtures and fittings | - |
| In accordance with Financial Reporting standard for Smaller Entities (effective April 2008), no depreciation or |
| amortisation is provided in respect of freehold investment properties nor on leasehold investment properties |
| having an unexpired term of more than twenty years. This departure from the requirements of the Companies Act |
| 2006, for all properties to be depreciated, is necessary, as the director considers that this accounting policy |
| results in the financial statements giving true and fair view. |
| Investment property |
| Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in |
| market value is transferred to a revaluation reserve. |
| 2. | TANGIBLE FIXED ASSETS |
| Total |
| £ |
| COST |
| At 1 June 2014 |
| and 31 May 2015 |
| DEPRECIATION |
| At 1 June 2014 |
| Charge for year |
| At 31 May 2015 |
| NET BOOK VALUE |
| At 31 May 2015 |
| At 31 May 2014 |
| 3. | INVESTMENT PROPERTY |
| Total |
| £ |
| COST |
| At 1 June 2014 |
| Additions |
| Disposals | ( |
) |
| At 31 May 2015 |
| NET BOOK VALUE |
| At 31 May 2015 |
| At 31 May 2014 |
| PALMTREE ENTERPRISES LTD (REGISTERED NUMBER: 04428837) |
| NOTES TO THE ABBREVIATED ACCOUNTS - continued |
| FOR THE YEAR ENDED 31 MAY 2015 |
| 4. | CREDITORS |
| Creditors include an amount of £ |
| They also include the following debts falling due in more than five years: |
| 31.5.15 | 31.5.14 |
| £ | £ |
| Repayable otherwise than by instalments | 3,455,372 | 4,008,946 |
| Repayable by instalments | 444,422 | 464,015 |
| 3,899,794 | 4,472,961 |
| 5. | CALLED UP SHARE CAPITAL |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 31.5.15 | 31.5.14 |
| value: | £ | £ |
| Ordinary | £1 |