The trunk coloration of yellow-orange is normal (thus the species name, lutescens), so are the spots, normal. These palms are not among the easiest though indoors..., they need full sun and heat in the growing season.

Hi, thank you for your reply. It gets a lot if natural light (we don't get too much sun in this part of Scotland). Do you have any suggestions regarding watering? With the cones or another way?

I think these Palms are pretty. I've had mine for at least 25 years. It gets some sun but it's mostly indirect bright light. If the top of the soil feels pretty wet I won't water it that week. After the week is up it gets watered enough until I see it come out the bottom and then use a turkey if need be 2 take out the excess water in the high plastic tray the clay pot sits in. You don't want to keep the soil soaking wet, it's best if you let the top feel almost or close to dry before watering again.

once it goes outside it'll grow a lot better. Might be time for a new pot.. You can also thin out a few stems.

We bought it as an indoor plant, mainly because it wouldn't survive Scottish weather. Do I need to mist the leaves at all to stop the leaves growing brown? Or is watering it moderately all that's needed?

Do you guys think the soil structure is ok, given how quickly it lets water to seep out at the bottom?