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REGISTERED NUMBER: 01722241 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 December 2023

for

MOBILE PALLETS LIMITED

MOBILE PALLETS LIMITED (REGISTERED NUMBER: 01722241)

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










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


MOBILE PALLETS LIMITED

Company Information
for the Year Ended 31 December 2023







DIRECTOR: A Hollingworth



SECRETARY: Mrs Mumford



REGISTERED OFFICE: Riverside Works
Egmont Street
Mossley
Ashton Under Lyne
OL5 9PY



REGISTERED NUMBER: 01722241 (England and Wales)



ACCOUNTANTS: BTMR Limited
Century Buildings
14 St Mary's Parsonage
Manchester
M3 2DF



BANKERS: Barclays Bank PLC
1 Yorkshire Street
Rochdale
Lancashire

MOBILE PALLETS LIMITED (REGISTERED NUMBER: 01722241)

Balance Sheet
31 December 2023

31.12.23 31.12.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 56,854 55,193
Investments 5 12,630 12,630
69,484 67,823

CURRENT ASSETS
Stocks 256,700 304,600
Debtors 6 349,098 412,361
Cash at bank 45,682 38,617
651,480 755,578
CREDITORS
Amounts falling due within one year 7 444,543 608,373
NET CURRENT ASSETS 206,937 147,205
TOTAL ASSETS LESS CURRENT
LIABILITIES

276,421

215,028

CREDITORS
Amounts falling due after more than one
year

8

26,047

41,571
NET ASSETS 250,374 173,457

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 250,274 173,357
250,374 173,457

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

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

MOBILE PALLETS LIMITED (REGISTERED NUMBER: 01722241)

Balance Sheet - continued
31 December 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 10 April 2024 and were signed by:





A Hollingworth - Director


MOBILE PALLETS LIMITED (REGISTERED NUMBER: 01722241)

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


1. STATUTORY INFORMATION

Mobile Pallets 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 is accounted for as revenue when, and to the extent that, the company obtains a right to consideration in exchange for its performance of its obligations under the sales contract with the customer. The amount reported as revenue is the fair value of the right to consideration - usually the price specified in the contractual arrangement net of discounts and net of VAT, and after any allowance for credit risk and other uncertainties.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery - 15% on reducing balance
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 25% on reducing balance

Tangible fixed assets are initially recorded at cost.

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

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 Statement of Income and Retained Earnings, 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.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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

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.

MOBILE PALLETS LIMITED (REGISTERED NUMBER: 01722241)

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


2. ACCOUNTING POLICIES - continued

Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 13 (2022 - 15 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor
machinery fittings vehicles Totals
£    £    £    £   
COST
At 1 January 2023 103,715 10,227 29,320 143,262
Additions 13,613 615 - 14,228
At 31 December 2023 117,328 10,842 29,320 157,490
DEPRECIATION
At 1 January 2023 72,059 8,222 7,788 88,069
Charge for year 6,791 393 5,383 12,567
At 31 December 2023 78,850 8,615 13,171 100,636
NET BOOK VALUE
At 31 December 2023 38,478 2,227 16,149 56,854
At 31 December 2022 31,656 2,005 21,532 55,193

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Plant and Motor
machinery vehicles Totals
£    £    £   
COST
At 1 January 2023 18,000 29,320 47,320
Transfer to ownership (18,000 ) - (18,000 )
At 31 December 2023 - 29,320 29,320
DEPRECIATION
At 1 January 2023 8,604 7,788 16,392
Charge for year - 5,383 5,383
Transfer to ownership (8,604 ) - (8,604 )
At 31 December 2023 - 13,171 13,171
NET BOOK VALUE
At 31 December 2023 - 16,149 16,149
At 31 December 2022 9,396 21,532 30,928

MOBILE PALLETS LIMITED (REGISTERED NUMBER: 01722241)

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


5. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 January 2023
and 31 December 2023 12,630
NET BOOK VALUE
At 31 December 2023 12,630
At 31 December 2022 12,630

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade debtors 332,374 395,168
Other debtors 16,724 17,193
349,098 412,361

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Bank loans and overdrafts 10,000 108,386
Hire purchase contracts (see note 9) 5,524 5,524
Trade creditors 293,798 401,924
Amounts owed to group undertakings - 684
Taxation and social security 79,320 57,613
Other creditors 55,901 34,242
444,543 608,373

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.12.23 31.12.22
£    £   
Bank loans 15,000 25,000
Hire purchase contracts (see note 9) 11,047 16,571
26,047 41,571

9. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
31.12.23 31.12.22
£    £   
Net obligations repayable:
Within one year 5,524 5,524
Between one and five years 11,047 16,571
16,571 22,095

MOBILE PALLETS LIMITED (REGISTERED NUMBER: 01722241)

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


9. LEASING AGREEMENTS - continued

Non-cancellable operating leases
31.12.23 31.12.22
£    £   
Within one year 5,662 1,493
Between one and five years 20,760 373
26,422 1,866

10. SECURED DEBTS

The following secured debts are included within creditors:

31.12.23 31.12.22
£    £   
Bank overdraft - 98,386

Bank overdrafts are secured by a fixed and floating charge over all property and undertakings of the company.