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REGISTERED NUMBER: 04348291 (England and Wales)







UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST MARCH 2024

FOR

B AND M PALLETS LIMITED

B AND M PALLETS LIMITED (REGISTERED NUMBER: 04348291)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST MARCH 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


B AND M PALLETS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31ST MARCH 2024







DIRECTOR: B G Martin





SECRETARY: S Martin





REGISTERED OFFICE: Oundle Road Industrial Estate
Oundle Road
Thrapston
Kettering
Northamptonshire
NN14 4PQ





REGISTERED NUMBER: 04348291 (England and Wales)





ACCOUNTANTS: Bewers Turner & Co LLP
Chartered Accountants
Portland House
11-13 Station Road
Kettering
Northamptonshire
NN15 7HH

B AND M PALLETS LIMITED (REGISTERED NUMBER: 04348291)

BALANCE SHEET
31ST MARCH 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 289,484 484,271

CURRENT ASSETS
Stocks 106,850 247,547
Debtors 5 1,325,593 585,334
Cash at bank 95,833 311,762
1,528,276 1,144,643
CREDITORS
Amounts falling due within one year 6 492,830 349,289
NET CURRENT ASSETS 1,035,446 795,354
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,324,930

1,279,625

CREDITORS
Amounts falling due after more than one
year

7

(246,802

)

(67,252

)

PROVISIONS FOR LIABILITIES (59,670 ) (79,911 )
NET ASSETS 1,018,458 1,132,462

CAPITAL AND RESERVES
Called up share capital 110 110
Retained earnings 1,018,348 1,132,352
1,018,458 1,132,462

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

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

B AND M PALLETS LIMITED (REGISTERED NUMBER: 04348291)

BALANCE SHEET - continued
31ST MARCH 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 15th November 2024 and were signed by:





B G Martin - Director


B AND M PALLETS LIMITED (REGISTERED NUMBER: 04348291)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST MARCH 2024


1. STATUTORY INFORMATION

B And M 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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 etc - 25% on cost, 25% on reducing balance and 15% 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.

Financial instruments
The company is party to only basic financial instruments such as cash, trade debtors and creditors and loans. Instruments such as trade debtors and trade creditors are initially recognised at their transaction cost and reviewed at the year end for impairment. Debt instruments not repayable on demand or due within one year, such as bank loans, are measured at amortised cost using the effective interest rate.

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.


B AND M PALLETS LIMITED (REGISTERED NUMBER: 04348291)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST MARCH 2024


2. ACCOUNTING POLICIES - continued
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.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 23 (2023 - 27 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1st April 2023 1,052,837
Disposals (204,933 )
At 31st March 2024 847,904
DEPRECIATION
At 1st April 2023 568,566
Charge for year 39,719
Eliminated on disposal (49,865 )
At 31st March 2024 558,420
NET BOOK VALUE
At 31st March 2024 289,484
At 31st March 2023 484,271

B AND M PALLETS LIMITED (REGISTERED NUMBER: 04348291)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST MARCH 2024


5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 484,867 542,668
Amounts owed by group undertakings 794,533 -
Other debtors 46,193 42,666
1,325,593 585,334

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 66,462 25,000
Hire purchase contracts 10,287 16,922
Trade creditors 103,654 128,371
Taxation and social security 161,678 173,995
Other creditors 150,749 5,001
492,830 349,289

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans 241,228 50,000
Hire purchase contracts 5,574 17,252
246,802 67,252

8. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 307,690 75,000

Loans are secured against the assets of the company.

9. RELATED PARTY DISCLOSURES

All material related party transactions with owners holding a participating interest, companies in which the entity has a participating interest and directors were all concluded under normal market conditions.