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REGISTERED NUMBER: 07759445 (England and Wales)















Unaudited Financial Statements

for the Year Ended

31 July 2018

for

Palmers At Ullesthorpe Limited

Palmers At Ullesthorpe Limited (Registered number: 07759445)

Contents of the Financial Statements
for the Year Ended 31 July 2018










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 2018







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 2018 which
comprise the Income Statement, Balance Sheet, Statement of Changes in Equity 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


15 April 2019

Palmers At Ullesthorpe Limited (Registered number: 07759445)

Balance Sheet
31 July 2018

31.7.18 31.7.17
as restated
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 245,444 289,592
Investment property 5 105,000 105,000
350,444 394,592

CURRENT ASSETS
Stocks 369,419 343,931
Debtors 6 43,861 42,566
Cash at bank and in hand 310,991 376,039
724,271 762,536
CREDITORS
Amounts falling due within one year 7 511,300 693,597
NET CURRENT ASSETS 212,971 68,939
TOTAL ASSETS LESS CURRENT
LIABILITIES

563,415

463,531

CREDITORS
Amounts falling due after more than
one year

8

(55,000

)

(57,992

)

PROVISIONS FOR LIABILITIES (31,169 ) (36,948 )
NET ASSETS 477,246 368,591

Palmers At Ullesthorpe Limited (Registered number: 07759445)

Balance Sheet - continued
31 July 2018

31.7.18 31.7.17
as restated
Notes £    £    £    £   
CAPITAL AND RESERVES
Called up share capital 10 1,000 1,000
Revaluation reserve 43,992 43,992
Retained earnings 432,254 323,599
SHAREHOLDERS' FUNDS 477,246 368,591

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2018 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 15 April 2019 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 2018


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 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
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 2018


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 48 (2017 - 49 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Long and Motor
leasehold fittings vehicles Totals
£    £    £    £   
COST
At 1 August 2017 375,331 329,431 1,250 706,012
Additions 28,748 4,275 - 33,023
At 31 July 2018 404,079 333,706 1,250 739,035
DEPRECIATION
At 1 August 2017 270,935 144,457 1,028 416,420
Charge for year 46,612 30,337 222 77,171
At 31 July 2018 317,547 174,794 1,250 493,591
NET BOOK VALUE
At 31 July 2018 86,532 158,912 - 245,444
At 31 July 2017 104,396 184,974 222 289,592

Palmers At Ullesthorpe Limited (Registered number: 07759445)

Notes to the Financial Statements - continued
for the Year Ended 31 July 2018


5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 August 2017
and 31 July 2018 105,000
NET BOOK VALUE
At 31 July 2018 105,000
At 31 July 2017 105,000

Fair value at 31 July 2018 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:

31.7.18 31.7.17
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 2018 would not be materially different.

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.18 31.7.17
as
restated
£    £   
Trade debtors 2,015 1,783
Prepayments and accrued income 41,846 40,783
43,861 42,566

Palmers At Ullesthorpe Limited (Registered number: 07759445)

Notes to the Financial Statements - continued
for the Year Ended 31 July 2018


7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.18 31.7.17
as
restated
£    £   
Hire purchase contracts 2,991 12,628
Trade creditors 164,391 108,372
Corporation tax 34,379 45,232
Social security and other taxes 5,690 6,103
VAT 80,023 121,081
Other creditors 205,598 351,956
Net wages - 377
Directors' current accounts - 1,250
Accruals and deferred income 18,228 46,598
511,300 693,597

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.7.18 31.7.17
as
restated
£    £   
Other loans - 2-5 years 55,000 55,000
Hire purchase contracts - 2,992
55,000 57,992

9. SECURED DEBTS

The following secured debts are included within creditors:

31.7.18 31.7.17
as
restated
£    £   
Hire purchase contracts 2,991 15,620

The hire purchase contracts are secured on the assets to which they relate.
There is a legal charge on the Investment Property know as Windy Ridge.

Palmers At Ullesthorpe Limited (Registered number: 07759445)

Notes to the Financial Statements - continued
for the Year Ended 31 July 2018


10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number: Class: Nominal 31.7.18 31.7.17
value: £ £
450 Ordinary A £1 450 450
50 Ordinary B £1 50 50
50 Ordinary C £1 50 50
450 Ordinary D £1 450 450
1,000 1,000

11. OTHER FINANCIAL COMMITMENTS

The company has total guarantees and commitments at the balance sheet date of £1,181,250 (2017
£1,350,000).