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REGISTERED NUMBER: 07203165 (England and Wales)















Report of the Director and

Unaudited Financial Statements for the Year Ended 31 March 2023

for

Fourway Pallet Recycling Ltd

Fourway Pallet Recycling Ltd (Registered number: 07203165)






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




Page

Company Information 1

Report of the Director 2

Income Statement 3

Balance Sheet 4

Notes to the Financial Statements 5


Fourway Pallet Recycling Ltd

Company Information
for the Year Ended 31 March 2023







DIRECTOR: Mr R Harris





REGISTERED OFFICE: C/o BSM (UK) Accounants
Unit 9, Creekmouth Industrial Estate
57 River Road
Barking
Essex
IG11 0DA





REGISTERED NUMBER: 07203165 (England and Wales)





ACCOUNTANTS: BSM (U.K) Accountants Ltd
Unit 9 Creekmouth Industrial Estate
57 River Road
Barking
Essex
IG11 0DA

Fourway Pallet Recycling Ltd (Registered number: 07203165)

Report of the Director
for the Year Ended 31 March 2023

The director presents his report with the financial statements of the company for the year ended 31 March 2023.

INCORPORATION
The company was incorporated on 25 March 2010 .

DIRECTOR
Mr R Harris held office during the whole of the period from 1 April 2022 to the date of this report.

The director, being eligible, offers himself for election at the forthcoming first Annual General Meeting.

This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

ON BEHALF OF THE BOARD:





Mr R Harris - Director


22 December 2023

Fourway Pallet Recycling Ltd (Registered number: 07203165)

Income Statement
for the Year Ended 31 March 2023

Notes £    £   

TURNOVER 939,820

Cost of sales 549,184
GROSS PROFIT 390,636

Distribution costs 5,956
Administrative expenses 279,680
285,636
OPERATING PROFIT and
PROFIT BEFORE TAXATION 105,000

Tax on profit -
PROFIT FOR THE FINANCIAL YEAR 105,000

Fourway Pallet Recycling Ltd (Registered number: 07203165)

Balance Sheet
31 March 2023

Notes £    £   
FIXED ASSETS
Tangible assets 5 120,850

CURRENT ASSETS
Stocks 6 1,000
Debtors 7 83,016
Cash at bank 320,772
404,788
CREDITORS
Amounts falling due within one year 8 143,285
NET CURRENT ASSETS 261,503
TOTAL ASSETS LESS CURRENT
LIABILITIES

382,353

CREDITORS
Amounts falling due after more than one year 9 22,000
NET ASSETS 360,353

CAPITAL AND RESERVES
Called up share capital 100
Retained earnings 360,253
SHAREHOLDERS' FUNDS 360,353

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the director and authorised for issue on 22 December 2023 and were signed by:



Mr R Harris - Director


Fourway Pallet Recycling Ltd (Registered number: 07203165)

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

1. STATUTORY INFORMATION

Fourway Pallet Recycling Ltd 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 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.
Plant and machinery - 20% on reducing balance
Motor vehicles - 20% on reducing balance

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.

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.

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

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 .

Fourway Pallet Recycling Ltd (Registered number: 07203165)

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

4. OPERATING PROFIT

The operating profit is stated after charging:

£   
Depreciation - owned assets 23,593

5. TANGIBLE FIXED ASSETS
Short Plant and Motor
leasehold machinery vehicles Totals
£    £    £    £   
COST
At 1 April 2022
and 31 March 2023 13,368 35,618 95,457 144,443
DEPRECIATION
Charge for year - 6,411 17,182 23,593
At 31 March 2023 - 6,411 17,182 23,593
NET BOOK VALUE
At 31 March 2023 13,368 29,207 78,275 120,850
At 31 March 2022 13,368 35,618 95,457 144,443

6. STOCKS
£   
Stocks 1,000

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
£   
Trade debtors 76,016
Other debtors 7,000
83,016

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
£   
Bank loans and overdrafts 32,172
VAT 33,023
Directors' loan accounts 76,490
Accrued expenses 1,600
143,285

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
£   
Hire purchase contracts 22,000