25 false false false false false false false false false false true false false false false true false No description of principal activity 2023-09-01 Sage Accounts Production Advanced 2023 - FRS102_2023 150,000 141,667 8,333 150,000 8,333 xbrli:pure xbrli:shares iso4217:GBP 06347352 2023-09-01 2024-08-31 06347352 2024-08-31 06347352 2023-08-31 06347352 2022-09-01 2023-08-31 06347352 2023-08-31 06347352 2022-08-31 06347352 core:LandBuildings core:ShortLeaseholdAssets 2023-09-01 2024-08-31 06347352 core:PlantMachinery 2023-09-01 2024-08-31 06347352 core:MotorVehicles 2023-09-01 2024-08-31 06347352 bus:Director1 2023-09-01 2024-08-31 06347352 bus:Director2 2023-09-01 2024-08-31 06347352 core:NetGoodwill 2023-08-31 06347352 core:NetGoodwill 2024-08-31 06347352 core:LandBuildings 2023-08-31 06347352 core:PlantMachinery 2023-08-31 06347352 core:FurnitureFittings 2023-08-31 06347352 core:MotorVehicles 2023-08-31 06347352 core:LandBuildings 2024-08-31 06347352 core:PlantMachinery 2024-08-31 06347352 core:FurnitureFittings 2024-08-31 06347352 core:MotorVehicles 2024-08-31 06347352 core:FurnitureFittings 2023-09-01 2024-08-31 06347352 core:WithinOneYear 2024-08-31 06347352 core:WithinOneYear 2023-08-31 06347352 core:ShareCapital 2024-08-31 06347352 core:ShareCapital 2023-08-31 06347352 core:RetainedEarningsAccumulatedLosses 2024-08-31 06347352 core:RetainedEarningsAccumulatedLosses 2023-08-31 06347352 core:NetGoodwill 2023-09-01 2024-08-31 06347352 core:NetGoodwill 2023-08-31 06347352 core:PlantMachinery 2023-08-31 06347352 core:FurnitureFittings 2023-08-31 06347352 core:MotorVehicles 2023-08-31 06347352 bus:Director1 2023-08-31 06347352 bus:Director1 2024-08-31 06347352 bus:Director1 2022-08-31 06347352 bus:Director1 2023-08-31 06347352 bus:Director1 2022-09-01 2023-08-31 06347352 bus:SmallEntities 2023-09-01 2024-08-31 06347352 bus:AuditExemptWithAccountantsReport 2023-09-01 2024-08-31 06347352 bus:SmallCompaniesRegimeForAccounts 2023-09-01 2024-08-31 06347352 bus:PrivateLimitedCompanyLtd 2023-09-01 2024-08-31 06347352 bus:FullAccounts 2023-09-01 2024-08-31 06347352 core:ComputerEquipment 2023-08-31 06347352 core:ComputerEquipment 2023-09-01 2024-08-31 06347352 core:ComputerEquipment 2024-08-31
COMPANY REGISTRATION NUMBER: 06347352
P & R Pallets & Cases Ltd
Filleted Unaudited Financial Statements
31 August 2024
P & R Pallets & Cases Ltd
Statement of Financial Position
31 August 2024
2024
2023
Note
£
£
£
Fixed assets
Intangible assets
5
8,333
Tangible assets
6
98,040
110,200
--------
---------
98,040
118,533
Current assets
Stocks
123,074
163,976
Debtors
7
468,790
613,726
Cash at bank and in hand
716,189
563,869
------------
------------
1,308,053
1,341,571
Creditors: amounts falling due within one year
8
362,727
468,980
------------
------------
Net current assets
945,326
872,591
------------
---------
Total assets less current liabilities
1,043,366
991,124
Provisions
Taxation including deferred tax
16,760
19,942
------------
---------
Net assets
1,026,606
971,182
------------
---------
P & R Pallets & Cases Ltd
Statement of Financial Position (continued)
31 August 2024
2024
2023
Note
£
£
£
Capital and reserves
Called up share capital
2,000
2,000
Profit and loss account
1,024,606
969,182
------------
---------
Shareholders funds
1,026,606
971,182
------------
---------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 31 August 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 28 May 2025 , and are signed on behalf of the board by:
Mr R W & C Lightfoot
Mrs C Lightfoot
Director
Director
Company registration number: 06347352
P & R Pallets & Cases Ltd
Notes to the Financial Statements
Year ended 31 August 2024
1. General information
The company is a private company limited by shares, registered in England & Wales. The address of the registered office is 15 Chapel Lane, Harriseahead, Stoke-on-Trent, Staffs, ST7 4JN.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Disclosure exemptions
The entity satisfies the criteria of being a qualifying entity as defined in FRS 102.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
Goodwill
-
5 to 10 years straight line
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Short Leasehold Property
-
100% straight line
Plant & Machinery
-
25% reducing balance
Fixtures & Fittings
-
10% Reducing balance and 33% straight line
Motor Vehicles
-
25% reducing balance
Office Equipment
-
10% Reducing balance and 33% straight line
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 25 (2023: 23 ).
5. Intangible assets
Goodwill
£
Cost
At 1 September 2023 and 31 August 2024
150,000
---------
Amortisation
At 1 September 2023
141,667
Charge for the year
8,333
---------
At 31 August 2024
150,000
---------
Carrying amount
At 31 August 2024
---------
At 31 August 2023
8,333
---------
6. Tangible assets
Land and buildings
Plant and machinery
Fixtures and fittings
Motor vehicles
Equipment
Total
£
£
£
£
£
£
Cost
At 1 Sep 2023
13,508
97,282
17,219
62,470
17,068
207,547
Additions
9,974
104
1,531
11,609
Disposals
( 7,400)
( 10,000)
( 17,400)
--------
--------
--------
--------
--------
---------
At 31 Aug 2024
13,508
99,856
17,323
52,470
18,599
201,756
--------
--------
--------
--------
--------
---------
Depreciation
At 1 Sep 2023
13,508
45,430
9,387
23,901
5,121
97,347
Charge for the year
14,481
977
1,708
1,965
19,131
Disposals
( 3,498)
( 9,264)
( 12,762)
--------
--------
--------
--------
--------
---------
At 31 Aug 2024
13,508
56,413
10,364
16,345
7,086
103,716
--------
--------
--------
--------
--------
---------
Carrying amount
At 31 Aug 2024
43,443
6,959
36,125
11,513
98,040
--------
--------
--------
--------
--------
---------
At 31 Aug 2023
51,852
7,832
38,569
11,947
110,200
--------
--------
--------
--------
--------
---------
7. Debtors
2024
2023
£
£
Trade debtors
446,235
594,753
Other debtors
22,555
18,973
---------
---------
468,790
613,726
---------
---------
8. Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
45,128
78,532
Corporation tax
39,250
65,808
Social security and other taxes
124,604
133,269
Other creditors
153,745
191,371
---------
---------
362,727
468,980
---------
---------
9. Directors' advances, credits and guarantees
During the year the directors entered into the following advances and credits with the company:
2024
Balance brought forward
Advances/ (credits) to the directors
Amounts repaid
Balance outstanding
£
£
£
£
Mr R W & C Lightfoot
( 144,079)
90,369
( 57,828)
( 111,538)
---------
--------
--------
---------
2023
Balance brought forward
Advances/ (credits) to the directors
Amounts repaid
Balance outstanding
£
£
£
£
Mr R W & C Lightfoot
( 143,943)
55,139
( 55,275)
( 144,079)
---------
--------
--------
---------
10. Related party transactions
The company was under the control of Mr R W Lightfoot throughout the current period. Interest is paid on the director's loan account credit balance at the rate of 6% per annum.