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REGISTERED NUMBER: 09977174 (England and Wales)



















Financial Statements

for the Year Ended 31 January 2023

for

Pallet Price Limited

Pallet Price Limited (Registered number: 09977174)






Contents of the Financial Statements
for the Year Ended 31 January 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Pallet Price Limited

Company Information
for the Year Ended 31 January 2023







DIRECTORS: G S Balaghan
B S Sohal





REGISTERED OFFICE: The Mills
Canal Street
Derby
DE1 2RJ





BUSINESS ADDRESS: Unit 3
Prime Industrial Park
Shaftesbury Street
Derby
DE23 8YB





REGISTERED NUMBER: 09977174 (England and Wales)





ACCOUNTANTS: Bates Weston LLP
Chartered Accountants
The Mills
Canal Street
Derby
DE1 2RJ

Pallet Price Limited (Registered number: 09977174)

Balance Sheet
31 January 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 27,943 12,607
Investments 5 2,000 -
29,943 12,607

CURRENT ASSETS
Stocks 604,475 42,365
Debtors 6 505,645 90,845
Cash at bank and in hand 203,201 14,016
1,313,321 147,226
CREDITORS
Amounts falling due within one year 7 1,283,971 123,504
NET CURRENT ASSETS 29,350 23,722
TOTAL ASSETS LESS CURRENT
LIABILITIES

59,293

36,329

CREDITORS
Amounts falling due after more than one
year

8

4,470

28,315
NET ASSETS 54,823 8,014

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 54,723 7,914
54,823 8,014

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2023 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.

Pallet Price Limited (Registered number: 09977174)

Balance Sheet - continued
31 January 2023


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

In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 18 October 2023 and were signed on its behalf by:





G S Balaghan - Director


Pallet Price Limited (Registered number: 09977174)

Notes to the Financial Statements
for the Year Ended 31 January 2023

1. STATUTORY INFORMATION

Pallet Price 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.

Turnover
Turnover represents the amounts excluding value added tax derived from the provision of goods to customers during the period. Turnover is recognised when the company has transferred the significant risks and rewards of ownership to the buyer and it is probable that the company will receive the agreed upon payment.

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 - 15% on reducing balance
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 33% on cost

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

Leasing commitments
Rentals paid under operating leases are charged to profit and loss on a straight line basis over the period of the lease.

Invoice discounting
Debts under a discounting arrangement are included within trade debtors and amounts received against such invoices are included within creditors. The interest element and other discount charges are recognised within the profit and loss account as they accrue.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2022 - 3 ) .

Pallet Price Limited (Registered number: 09977174)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2023

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 February 2022 2,723 6,768 5,200 3,677 18,368
Additions - 1,975 - 23,535 25,510
At 31 January 2023 2,723 8,743 5,200 27,212 43,878
DEPRECIATION
At 1 February 2022 408 1,015 1,300 3,038 5,761
Charge for year 347 1,159 975 7,693 10,174
At 31 January 2023 755 2,174 2,275 10,731 15,935
NET BOOK VALUE
At 31 January 2023 1,968 6,569 2,925 16,481 27,943
At 31 January 2022 2,315 5,753 3,900 639 12,607

5. FIXED ASSET INVESTMENTS
Other
investments
£   
COST
Additions 2,000
At 31 January 2023 2,000
NET BOOK VALUE
At 31 January 2023 2,000

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 399,630 65,436
Other debtors 92,839 10,200
Directors' current accounts 8,023 6,893
Prepayments 5,153 8,316
505,645 90,845

Pallet Price Limited (Registered number: 09977174)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2023

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 46,138 21,686
Advances under invoice
discounting arrangements 154,121 9,376
Trade creditors 1,049,364 69,608
Tax 23,243 13,503
Social security and other taxes 784 5,248
Other creditors 7,504 2,286
Directors' current accounts 952 607
Accrued expenses 1,865 1,190
1,283,971 123,504

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans - 1-5 years 4,470 28,315

Amounts falling due in more than five years:

Repayable by instalments
Bank loans - 1-5 years 4,470 28,315

9. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Advances under invoice
discounting arrangements 154,121 9,376
154,121 9,376

10. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

During the year net advances were made to one director totalling £1,130 (2022: £6,893). This is interest free and repayable on demand.