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REGISTERED NUMBER: 07231075















FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST DECEMBER 2024

FOR

PALETTI UK LIMITED

PALETTI UK LIMITED (REGISTERED NUMBER: 07231075)

CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 31st December 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


PALETTI UK LIMITED

COMPANY INFORMATION
for the Year Ended 31st December 2024







DIRECTOR: Mr S Reinke





REGISTERED OFFICE: Unit 4 Britannia Way
The Valley
Bolton
BL2 2HH





REGISTERED NUMBER: 07231075





AUDITORS: Xeinadin Audit Limited
100 Barbirolli Square
Manchester
M2 3BD

PALETTI UK LIMITED (REGISTERED NUMBER: 07231075)

BALANCE SHEET
31st December 2024

2024 2023
Notes £    £   
FIXED ASSETS
Tangible assets 4 7,272 12,223

CURRENT ASSETS
Stocks 159,529 192,444
Debtors 5 224,896 306,297
Cash at bank and in hand 99,567 110,105
483,992 608,846
CREDITORS
Amounts falling due within one year 6 (206,534 ) (325,637 )
NET CURRENT ASSETS 277,458 283,209
TOTAL ASSETS LESS CURRENT
LIABILITIES

284,730

295,432

CREDITORS
Amounts falling due after more than one
year

7

(20,726

)

(43,373

)

PROVISIONS FOR LIABILITIES 9 (1,818 ) (3,056 )
NET ASSETS 262,186 249,003

CAPITAL AND RESERVES
Called up share capital 10 1 1
Share premium 15,000 15,000
Retained earnings 247,185 234,002
SHAREHOLDERS' FUNDS 262,186 249,003

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 director and authorised for issue on 28th March 2025 and were signed by:





Mr S Reinke - Director


PALETTI UK LIMITED (REGISTERED NUMBER: 07231075)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 31st December 2024


1. STATUTORY INFORMATION

Paletti UK Limited is a private company, limited by shares, registered in England and Wales, registration number 07231075. The address of the registered office and principal place of business is Unit 4 Britannia Way, The Valley, Bolton , BL2 2HH.

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.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

Turnover
Turnover represents amounts recognised by the company in respect of goods supplied, exclusive of Value Added Tax and trade discounts. Turnover principally consists of the provision of aluminium profiles and accessories, which are recognised at the point of which the goods are provided.

Tangible fixed assets
Tangible fixed assets are stated at cost less accumulated depreciation and accumulated impairment losses.

Depreciation on tangible fixed assets is charged to the profit and loss so as to write off their value, over their estimated useful lives, using the following methods:

Plant and machinery-20% on cost
Fixtures and fittings-20% and 25% on cost

At each balance sheet date, the Company reviews the carrying amounts of its fixed assets to determine whether there is any indication that any items have suffered an impairment loss. If any such indication exists, the recoverable amount of an asset is estimated in order to determine the extent of the impairment loss, if any. Where it is not possible to estimate the recoverable amount of the asset, the Company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

If the recoverable amount of an asset is estimated to be less than its carrying amount, the carrying amount of the asset is reduced to its recoverable amount. Impairment loss is recognised as an expense immediately.

Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Costs, which comprise direct production costs, are based on the method most appropriate to the type of inventory class, but usually on a first-in-first-out basis. Overheads are charged to profit or loss as incurred.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the profit and loss account, 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.


PALETTI UK LIMITED (REGISTERED NUMBER: 07231075)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31st December 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.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

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.

Trade and other debtors
Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method, less impairment losses for bad and doubtful debts except where the effect of discounting would be immaterial. In such cases, the receivables are stated at cost less impairment losses for bad and doubtful debts.

Trade and other creditors
Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method unless the effect of discounting would be immaterial, in which case they are stated at cost.

Cash and cash equivalents
Cash and cash equivalents comprise cash at bank and in hand.

Operating leases
Leases that do not transfer all the risks and rewards of ownership are classified as operating leases. Payments under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 13 (2023 - 13 ) .

PALETTI UK LIMITED (REGISTERED NUMBER: 07231075)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31st December 2024


4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and
machinery fittings Totals
£    £    £   
COST
At 1st January 2024
and 31st December 2024 26,096 47,652 73,748
DEPRECIATION
At 1st January 2024 24,143 37,382 61,525
Charge for year 1,429 3,522 4,951
At 31st December 2024 25,572 40,904 66,476
NET BOOK VALUE
At 31st December 2024 524 6,748 7,272
At 31st December 2023 1,953 10,270 12,223

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 180,575 261,263
Other debtors - 259
Prepayments and accrued income 44,321 44,775
224,896 306,297

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 44,194 51,939
Amounts owed to group undertakings 76,158 52,865
Tax 5,148 1,156
Social security and other taxes 11,093 13,966
VAT 53,808 28,709
Other creditors 2,935 4,309
Accruals and deferred income 13,198 172,693
206,534 325,637

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Amounts owed to group undertakings 20,726 43,373

8. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2024 2023
£    £   
Within one year 23,056 63,051
Between one and five years 4,168 8,562
27,224 71,613

PALETTI UK LIMITED (REGISTERED NUMBER: 07231075)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31st December 2024


9. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax 1,818 3,056

Deferred
tax
£   
Balance at 1st January 2024 3,056
Accelerated capital allowances (1,238 )
Balance at 31st December 2024 1,818

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
1 Ordinary £1 1 1

11. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Michael Garrett (Senior Statutory Auditor)
for and on behalf of Xeinadin Audit Limited

12. RELATED PARTY DISCLOSURES

During the period the company had the following balance and transactions with their parent company Paletti Profilsysteme GmbH & Co.KG:
2024 2023
£    £   
Amounts due to related party 96,884 96,239

Purchases 451,774 430,560

Sales 4,706 3,931

13. ULTIMATE PARENT COMPANY

The immediate parent company throughout the current and preceding year is Paletti Profilsysteme GmbH & Co.KG, a company registered in Germany. The registered address of the immediate parent company is Gewerbepark Meißen 17, 32423 Minden, Germany.

The parent company of the largest and smallest group that includes the company and for which group financial statements are prepared is MIB Industriebeteiligungen GmbH & Co. KG. Copies of these financial statements can be obtained from the company's registered office atHeinz-Fangman-Straße 2, 42287 Wuppertal, Germany.

The ultimate controlling party are the shareholders of MIB Industriebeteiligungen GmbH & Co. KG by virtue of their shareholding in the company.