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REGISTERED NUMBER: 07759445 (England and Wales)















Unaudited Financial Statements

for the Year Ended

31 July 2017

for

Palmers At Ullesthorpe Limited

Palmers At Ullesthorpe Limited (Registered number: 07759445)

Contents of the Financial Statements
for the Year Ended 31 July 2017










Page

Company Information 1

Chartered Accountants' Report 2

Balance Sheet 3

Notes to the Financial Statements 5


Palmers At Ullesthorpe Limited

Company Information
for the Year Ended 31 July 2017







DIRECTORS: Mrs C F J Jackson
Mrs F J Palmer
R B Palmer





REGISTERED OFFICE: 77 St Johns
Enderby
Leicester
Leicestershire
LE19 2BS





REGISTERED NUMBER: 07759445 (England and Wales)





ACCOUNTANTS: The Rowleys Partnership Ltd
Chartered Accountants
Charnwood House
Harcourt Way
Meridian Business Park
Leicester
Leicestershire
LE19 1WP

Chartered Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
Palmers At Ullesthorpe Limited


The following reproduces the text of the report prepared for the directors 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 Balance Sheet. Readers are cautioned that the Income Statement and certain
other primary statements and the Report of the Directors 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 Palmers At Ullesthorpe Limited for the year ended 31 July 2017 which
comprise the Income Statement, Balance Sheet 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 Board of Directors of Palmers At Ullesthorpe Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Palmers At Ullesthorpe Limited and state those matters that we have agreed to state to the Board of Directors of Palmers At Ullesthorpe Limited, as a body, 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 Palmers At Ullesthorpe Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Palmers At Ullesthorpe 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 Palmers At Ullesthorpe Limited. You consider that Palmers At Ullesthorpe 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 Palmers At Ullesthorpe 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.






The Rowleys Partnership Ltd
Chartered Accountants
Charnwood House
Harcourt Way
Meridian Business Park
Leicester
Leicestershire
LE19 1WP


20 April 2018

Palmers At Ullesthorpe Limited (Registered number: 07759445)

Balance Sheet
31 July 2017

31.7.17 31.7.16
as restated
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 289,592 357,697
Investment property 5 105,000 97,500
394,592 455,197

CURRENT ASSETS
Stocks 343,931 331,316
Debtors 6 42,566 54,980
Cash at bank and in hand 376,039 312,626
762,536 698,922
CREDITORS
Amounts falling due within one year 7 671,399 805,360
NET CURRENT ASSETS/(LIABILITIES) 91,137 (106,438 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

485,729

348,759

CREDITORS
Amounts falling due after more than
one year

8

(57,992

)

(70,620

)

PROVISIONS FOR LIABILITIES (36,948 ) (41,226 )
NET ASSETS 390,789 236,913

Palmers At Ullesthorpe Limited (Registered number: 07759445)

Balance Sheet - continued
31 July 2017

31.7.17 31.7.16
as restated
Notes £    £    £    £   
CAPITAL AND RESERVES
Called up share capital 10 1,000 1,000
Revaluation reserve 11 43,992 37,124
Retained earnings 345,797 198,789
SHAREHOLDERS' FUNDS 390,789 236,913

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2017 in accordance with Section 476 of the Companies Act 2006.

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.

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.

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

The financial statements were approved by the Board of Directors on 20 April 2018 and were signed on its
behalf by:





Mrs C F J Jackson - Director


Palmers At Ullesthorpe Limited (Registered number: 07759445)

Notes to the Financial Statements
for the Year Ended 31 July 2017


1. STATUTORY INFORMATION

Palmers At Ullesthorpe 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.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" 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 cost convention as modified by the revaluation of certain assets.

First year adoption of Financial Reporting Standard 102 ( FRS 102) Section 1A
These financial statements for the year ended 31 July 2017 are the first that are prepared in
accordance with FRS 102 Section 1A. The previous financial statements were prepared in
accordance with UK GAAP, the date of transition to FRS 102 Section 1A is 1 August 2015.

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

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Long leasehold - 15% on cost
Fixtures and fittings - 15%/33% straight line
Motor vehicles - 25% on reducing balance

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising
from changes in fair value is recognised in profit or loss.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for
obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income
Statement, 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 balance sheet date.


Palmers At Ullesthorpe Limited (Registered number: 07759445)

Notes to the Financial Statements - continued
for the Year Ended 31 July 2017


2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed
at the balance sheet 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.

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 49 (2016 - 51 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Long and Motor
leasehold fittings vehicles Totals
£    £    £    £   
COST
At 1 August 2016 375,331 328,193 1,250 704,774
Additions - 22,814 - 22,814
Disposals - (21,576 ) - (21,576 )
At 31 July 2017 375,331 329,431 1,250 706,012
DEPRECIATION
At 1 August 2016 214,635 131,488 954 347,077
Charge for year 56,300 33,720 74 90,094
Eliminated on disposal - (20,751 ) - (20,751 )
At 31 July 2017 270,935 144,457 1,028 416,420
NET BOOK VALUE
At 31 July 2017 104,396 184,974 222 289,592
At 31 July 2016 160,696 196,705 296 357,697

Palmers At Ullesthorpe Limited (Registered number: 07759445)

Notes to the Financial Statements - continued
for the Year Ended 31 July 2017


5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 August 2016 97,500
Revaluations 7,500
At 31 July 2017 105,000
NET BOOK VALUE
At 31 July 2017 105,000
At 31 July 2016 97,500

Fair value at 31 July 2017 is represented by:

£   
Valuation in 2016 45,000
Valuation in 2017 7,500
Cost 52,500
105,000

If investment property had not been revalued it would have been included at the following historical
cost:

31.7.17 31.7.16
as
restated
£    £   
Cost 52,500 52,500

Investment property was valued on an open market basis on 31 July 2016 by Auriga Associates .

The Directors are of the opinion that the value at 31 July 2017 would not be materially different.

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.17 31.7.16
as
restated
£    £   
Trade debtors 1,783 13,632
Other debtors - 2,009
Directors' current accounts - 1,250
Prepayments and accrued income 40,783 38,089
42,566 54,980

Palmers At Ullesthorpe Limited (Registered number: 07759445)

Notes to the Financial Statements - continued
for the Year Ended 31 July 2017


7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.17 31.7.16
as
restated
£    £   
Hire purchase contracts 12,628 12,105
Trade creditors 108,372 153,949
Corporation tax 50,439 26,581
Social security and other taxes 6,103 7,169
VAT 93,676 109,523
Other creditors 351,956 437,715
Net wages 377 -
Directors' current accounts 1,250 1,250
Accruals and deferred income 46,598 57,068
671,399 805,360

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.7.17 31.7.16
as
restated
£    £   
Other loans - 2-5 years 55,000 55,000
Hire purchase contracts 2,992 15,620
57,992 70,620

9. SECURED DEBTS

The following secured debts are included within creditors:

31.7.17 31.7.16
as
restated
£    £   
Hire purchase contracts 15,620 27,725

The hire purchase contracts are secured on the assets to which they relate.

Palmers At Ullesthorpe Limited (Registered number: 07759445)

Notes to the Financial Statements - continued
for the Year Ended 31 July 2017


10. CALLED UP SHARE CAPITAL




Allotted, issued and fully paid:
Number: Class: Nominal 31.7.17 31.7.16
value: as
restated
£    £   
450 Ordinary A shares £1 450 450
100 Ordinary C Shares £1 100 100
450 Ordinary D Shares £1 450 450
1,000 1,000

11. RESERVES


Revaluation
reserve
£
At 1 August 2016 37,124
Revaluations 6,868
At 31 July 2017 43,992

12. OTHER FINANCIAL COMMITMENTS

The company has total guarantees and commitments at the balance sheet date of £1,350,000 (2016
£1,485,000).

13. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 July 2017 and
31 July 2016:

31.7.17 31.7.16
as
restated
£    £   
Mrs F J Palmer
Balance outstanding at start of year - -
Amounts advanced 100 -
Amounts repaid (100 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - -

Palmers At Ullesthorpe Limited (Registered number: 07759445)

Notes to the Financial Statements - continued
for the Year Ended 31 July 2017


13. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES - continued

R B Palmer
Balance outstanding at start of year - -
Amounts advanced 450 -
Amounts repaid (450 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - -

The directors loan accounts are interest free and repayable on demand.