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REGISTERED NUMBER: 05460446 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024

FOR

PALLET HANDLING PENSHURST LIMITED

PALLET HANDLING PENSHURST LIMITED (REGISTERED NUMBER: 05460446)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


PALLET HANDLING PENSHURST LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 JUNE 2024







DIRECTORS: R Coulstock
S Baldwin





REGISTERED OFFICE: C/O Galloways Accounting
The Mill Building
31-35 Chatsworth Road
Worthing
West Sussex
BN11 1LY





REGISTERED NUMBER: 05460446 (England and Wales)





ACCOUNTANTS: Galloways Accounting (Hove) Limited
15 West Street
Brighton
East Sussex
BN1 2RL

PALLET HANDLING PENSHURST LIMITED (REGISTERED NUMBER: 05460446)

BALANCE SHEET
30 JUNE 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 3 7,415 9,434

CURRENT ASSETS
Stocks 4 112,343 109,076
Debtors 5 579,192 531,197
Cash at bank 322,622 250,045
1,014,157 890,318
CREDITORS
Amounts falling due within one year 6 325,648 272,311
NET CURRENT ASSETS 688,509 618,007
TOTAL ASSETS LESS CURRENT
LIABILITIES

695,924

627,441

PROVISIONS FOR LIABILITIES 1,602 1,559
NET ASSETS 694,322 625,882

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings 694,321 625,881
SHAREHOLDERS' FUNDS 694,322 625,882

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 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.

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 Board of Directors and authorised for issue on 21 March 2025 and were signed on its behalf by:




R Coulstock - Director



S Baldwin - Director


PALLET HANDLING PENSHURST LIMITED (REGISTERED NUMBER: 05460446)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

1. 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 sales of goods net of VAT and trade discounts. Turnover is recognised when the goods are physically delivered to the customer.

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 - 20% on reducing balance
Computer equipment - 33% on cost

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or is there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are 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.

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.

PALLET HANDLING PENSHURST LIMITED (REGISTERED NUMBER: 05460446)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024

1. ACCOUNTING POLICIES - continued

Financial instruments
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

2. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 8 (2023 - 8 ) .

3. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 July 2023
and 30 June 2024 59,558 6,556 35,981 1,625 103,720
DEPRECIATION
At 1 July 2023 56,012 6,154 31,575 545 94,286
Charge for year 534 61 882 542 2,019
At 30 June 2024 56,546 6,215 32,457 1,087 96,305
NET BOOK VALUE
At 30 June 2024 3,012 341 3,524 538 7,415
At 30 June 2023 3,546 402 4,406 1,080 9,434

4. STOCKS
2024 2023
£    £   
Stocks 112,343 109,076

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 147,879 166,922
Amounts owed by group undertakings 397,207 336,032
Other debtors 1,075 240
Directors' loan accounts 716 119
Prepayments 32,315 27,884
579,192 531,197

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 286,677 238,526
Tax 19,948 5,425
Social security and other taxes 3,199 4,636
VAT 8,547 18,555
Other creditors 1,964 -
Accrued expenses 5,313 5,169
325,648 272,311

PALLET HANDLING PENSHURST LIMITED (REGISTERED NUMBER: 05460446)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024

7. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2024 2023
£    £   
Within one year 45,000 45,000

8. RELATED PARTY DISCLOSURES

Chase Fencing Supplies Limited
During the year the parent company, Chase Fencing Supplies Limited, increased their loan to the company. At the year end Pallet Handling Penhurst Limited was owed £397,207 (2023: £336,032). This balance represented the maximum amount outstanding during the year and the loan is interest free and repayable on demand.

R Coulstock and S Baldwin hold 100% control of Chase Fencing Supplies Limited, who owns 100% of the shares held in Pallet Handling Penhurst Limited.

9. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Chase Fencing Supplies Limited.

Chase Fencing Supplies Limited issued share capital were 100% held by R Coulstock and S Baldwin.