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Company Registration No. 08980029 (England and Wales)
Colsterworth Pallets Ltd Unaudited accounts for the year ended 30 June 2024
Colsterworth Pallets Ltd Unaudited accounts Contents
Page
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Colsterworth Pallets Ltd Company Information for the year ended 30 June 2024
Director
Ian Dykes
Company Number
08980029 (England and Wales)
Registered Office
11 Chapel Lane Arnold Nottingham Nottinghamshire NG5 7DR
Accountants
Select Accountancy Ltd FFA/FIPA FFTA 11 Chapel Lane Arnold Nottingham NG5 7DR
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Accountants' report on the preparation of the unaudited statutory statements of Colsterworth Pallets Ltd (The Company) for the year ended 30 June 2024
In order to assist you as the sole director to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of the company for the year ended 30 June 2024 which comprises of the profit and loss account, the balance sheet, and explanatory notes from the company's accounting records and from information and explanations which you have provided us with.
As a member firm of the Institute of Financial Accountants (IFA), we are subject to its ethical and other professional requirements which are detailed at https://ifa.org.uk/about-us/acting-in-the-public-interest/memberregulations.
This report is made solely to you as the sole director of the company, in accordance with the terms of our letter of engagement dated 5 April 2024. Our work has been undertaken solely to prepare for your approval the financial statements of the company, and state those matters that we have agreed to state to you, in this report. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and you as the sole director for our work or for this report.
It is your duty to ensure that the company has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and financial performance of the company. You consider that the company is exempt from the statutory audit requirement for the year ended 30 June 2024.
We have not been instructed to carry out any assurance service on the financial statements of the company. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
Select Accountancy Ltd FFA/FIPA FFTA Financial Accountants 11 Chapel Lane Arnold Nottingham NG5 7DR 15 January 2025
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Colsterworth Pallets Ltd Statement of financial position as at 30 June 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Tangible assets
2,580 
3,332 
Current assets
Inventories
47,148 
18,720 
Debtors
38,989 
38,359 
Cash at bank and in hand
8,259 
879 
94,396 
57,958 
Creditors: amounts falling due within one year
(84,401)
(60,137)
Net current assets/(liabilities)
9,995 
(2,179)
Net assets
12,575 
1,153 
Capital and reserves
Called up share capital
2 
2 
Profit and loss account
12,573 
1,151 
Shareholders' funds
12,575 
1,153 
For the year ending 30 June 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 21 January 2025 and were signed on its behalf by
Ian Dykes Director Company Registration No. 08980029
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Colsterworth Pallets Ltd Notes to the Accounts for the year ended 30 June 2024
1
Statutory information
Colsterworth Pallets Ltd is a private company, limited by shares, registered in England and Wales, registration number 08980029. The registered office is 11 Chapel Lane, Arnold, Nottingham, Nottinghamshire, NG5 7DR.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
Turnover represents the value, net of VAT and discounts, of goods provided to customers and work carried out in respect of services provided to customers.
Tangible fixed assets policy
Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
25% Reducing balance
Motor vehicles
25% Reducing balance
4
Tangible fixed assets
Plant & machinery 
Motor vehicles 
Computer equipment 
Total 
£ 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At cost 
At 1 July 2023
7,322 
2,434 
167 
9,923 
Additions
108 
- 
- 
108 
At 30 June 2024
7,430 
2,434 
167 
10,031 
Depreciation
At 1 July 2023
4,267 
2,251 
73 
6,591 
Charge for the year
791 
46 
23 
860 
At 30 June 2024
5,058 
2,297 
96 
7,451 
Net book value
At 30 June 2024
2,372 
137 
71 
2,580 
At 30 June 2023
3,055 
183 
94 
3,332 
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Colsterworth Pallets Ltd Notes to the Accounts for the year ended 30 June 2024
5
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
Trade debtors
37,430 
36,991 
Accrued income and prepayments
1,559 
1,368 
38,989 
38,359 
6
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
VAT
36,547 
26,614 
Trade creditors
26,893 
21,868 
Taxes and social security
11,659 
6,769 
Other creditors
3,033 
3,612 
Loans from directors
943 
946 
Accruals
5,326 
328 
84,401 
60,137 
7
Share capital
2024 
2023 
£ 
£ 
Allotted, called up and fully paid:
2 Ordinary shares of £1 each
2 
2 
8
Average number of employees
During the year the average number of employees was 5 (2023: 5).
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