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REGISTERED NUMBER: 09977174 (England and Wales)



















Financial Statements

for the Year Ended 31 January 2024

for

Pallet Price Limited

Pallet Price Limited (Registered number: 09977174)






Contents of the Financial Statements
for the Year Ended 31 January 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Pallet Price Limited

Company Information
for the Year Ended 31 January 2024







DIRECTORS: G S Balaghan
B S Sohal





REGISTERED OFFICE: The Mills
Canal Street
Derby
DE1 2RJ





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 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 209,194 27,943
Investments 5 2,000 2,000
211,194 29,943

CURRENT ASSETS
Stocks 199,569 604,475
Debtors 6 473,824 505,645
Cash at bank and in hand 40,191 203,201
713,584 1,313,321
CREDITORS
Amounts falling due within one year 7 591,847 1,283,971
NET CURRENT ASSETS 121,737 29,350
TOTAL ASSETS LESS CURRENT
LIABILITIES

332,931

59,293

CREDITORS
Amounts falling due after more than one
year

8

168,779

4,470
NET ASSETS 164,152 54,823

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 164,052 54,723
164,152 54,823

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2024 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 2024


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 31 October 2024 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 2024

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.

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.

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 5 (2023 - 4 ) .

Pallet Price Limited (Registered number: 09977174)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2024

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 February 2023 2,723 8,743 5,200 27,212 43,878
Additions - - 201,236 5,581 206,817
At 31 January 2024 2,723 8,743 206,436 32,793 250,695
DEPRECIATION
At 1 February 2023 755 2,174 2,275 10,731 15,935
Charge for year 295 986 15,133 9,152 25,566
At 31 January 2024 1,050 3,160 17,408 19,883 41,501
NET BOOK VALUE
At 31 January 2024 1,673 5,583 189,028 12,910 209,194
At 31 January 2023 1,968 6,569 2,925 16,481 27,943

5. FIXED ASSET INVESTMENTS
Other
investments
£   
COST
At 1 February 2023
and 31 January 2024 2,000
NET BOOK VALUE
At 31 January 2024 2,000
At 31 January 2023 2,000

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 385,587 399,630
Other debtors 12,748 92,839
Directors' current accounts 70,319 8,023
Prepayments 5,170 5,153
473,824 505,645

Pallet Price Limited (Registered number: 09977174)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2024

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 4,095 46,138
Advances under invoice
discounting arrangements 200,462 154,121
Hire purchase contracts 26,056 -
Trade creditors 310,061 1,049,364
Tax - 23,243
Social security and other taxes 39,580 784
Other creditors 6,139 7,504
Directors' current accounts 3,404 952
Accrued expenses 2,050 1,865
591,847 1,283,971

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans - 1-5 years - 4,470
Hire purchase contracts 168,779 -
168,779 4,470

9. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Advances under invoice
discounting arrangements 200,462 154,121
200,462 154,121

10. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

At the balance sheet date the amounts owing from one director is shown in the debtors note. The balance is repayable on demand and interest was charged at the official rate.