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REGISTERED NUMBER: 03522490 (England and Wales)










Unaudited Financial Statements for the Year Ended 31 May 2024

for

Wheatley Pallet Services Limited

Wheatley Pallet Services Limited (Registered number: 03522490)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Wheatley Pallet Services Limited

Company Information
for the Year Ended 31 May 2024







DIRECTOR: Mrs M Faulkner





SECRETARY: Mrs J Bell





REGISTERED OFFICE: Sandall Stones Road
Kirk Sandall
Doncaster
South Yorkshire
DN3 1QR





REGISTERED NUMBER: 03522490 (England and Wales)

Wheatley Pallet Services Limited (Registered number: 03522490)

Balance Sheet
31 May 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 93,805 115,984
Investment property 5 66,901 66,901
160,706 182,885

CURRENT ASSETS
Stocks 64,004 75,982
Debtors 6 424,708 253,790
Cash at bank and in hand 229,694 360,748
718,406 690,520
CREDITORS
Amounts falling due within one year 7 130,833 128,085
NET CURRENT ASSETS 587,573 562,435
TOTAL ASSETS LESS CURRENT
LIABILITIES

748,279

745,320

CREDITORS
Amounts falling due after more than one
year

8

-

(150

)

PROVISIONS FOR LIABILITIES (18,241 ) (21,189 )
NET ASSETS 730,038 723,981

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 730,036 723,979
SHAREHOLDERS' FUNDS 730,038 723,981

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her 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.

Wheatley Pallet Services Limited (Registered number: 03522490)

Balance Sheet - continued
31 May 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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 16 January 2025 and were signed by:





Mrs M Faulkner - Director


Wheatley Pallet Services Limited (Registered number: 03522490)

Notes to the Financial Statements
for the Year Ended 31 May 2024

1. STATUTORY INFORMATION

Wheatley Pallet Services 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 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 or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery etc - 33% on cost, 25% on reducing balance and 5% on reducing balance

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

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.

Wheatley Pallet Services Limited (Registered number: 03522490)

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

2. ACCOUNTING POLICIES - continued

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 makes contributions to pensions in accordance with the auto enrolment legislation.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 29 (2023 - 29 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 June 2023 1,091,481
Additions 4,799
At 31 May 2024 1,096,280
DEPRECIATION
At 1 June 2023 975,497
Charge for year 26,978
At 31 May 2024 1,002,475
NET BOOK VALUE
At 31 May 2024 93,805
At 31 May 2023 115,984

Wheatley Pallet Services Limited (Registered number: 03522490)

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

4. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and
machinery
etc
£   
COST
At 1 June 2023 81,991
Transfer to ownership (81,991 )
At 31 May 2024 -
DEPRECIATION
At 1 June 2023 35,871
Charge for year 11,530
Transfer to ownership (47,401 )
At 31 May 2024 -
NET BOOK VALUE
At 31 May 2024 -
At 31 May 2023 46,120

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 June 2023
and 31 May 2024 66,901
NET BOOK VALUE
At 31 May 2024 66,901
At 31 May 2023 66,901

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 227,455 211,492
Other debtors 197,253 42,298
424,708 253,790

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Hire purchase contracts - 27,280
Trade creditors 10,256 8,667
Taxation and social security 97,855 57,306
Other creditors 22,722 34,832
130,833 128,085

Wheatley Pallet Services Limited (Registered number: 03522490)

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

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Hire purchase contracts - 150

9. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Hire purchase contracts - 27,430

10. OTHER COMMITMENTS

At 31st May 2024, the company had total commitments under non-cancellable operating leases over the remaining life of those leases of £5,702 (2023: £9,124).

11. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 May 2024 and 31 May 2023:

2024 2023
£    £   
Mrs M Faulkner
Balance outstanding at start of year 28,565 27,550
Amounts advanced - 28,565
Amounts repaid (28,565 ) (27,550 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - 28,565

The company loaned monies to the director at 2.25% interest . This was repaid on 18th September 2024.

12. ULTIMATE CONTROLLING PARTY

The controlling party is Mrs M Faulkner.