Black Country Pallets (Midlands) Limited 11732194 false 2024-01-01 2024-12-31 2024-12-31 The principal activity of the company is Selling & repurposing wooden pallets Digita Accounts Production Advanced 6.30.9574.0 true true 11732194 2024-01-01 2024-12-31 11732194 2024-12-31 11732194 bus:Director1 1 2024-12-31 11732194 core:RetainedEarningsAccumulatedLosses 2024-12-31 11732194 core:ShareCapital 2024-12-31 11732194 core:CurrentFinancialInstruments 2024-12-31 11732194 core:CurrentFinancialInstruments core:WithinOneYear 2024-12-31 11732194 core:FurnitureFittingsToolsEquipment 2024-12-31 11732194 core:MotorVehicles 2024-12-31 11732194 bus:SmallEntities 2024-01-01 2024-12-31 11732194 bus:AuditExemptWithAccountantsReport 2024-01-01 2024-12-31 11732194 bus:FilletedAccounts 2024-01-01 2024-12-31 11732194 bus:SmallCompaniesRegimeForAccounts 2024-01-01 2024-12-31 11732194 bus:RegisteredOffice 2024-01-01 2024-12-31 11732194 bus:Director1 2024-01-01 2024-12-31 11732194 bus:Director1 1 2024-01-01 2024-12-31 11732194 bus:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31 11732194 core:FurnitureFittingsToolsEquipment 2024-01-01 2024-12-31 11732194 core:MotorVehicles 2024-01-01 2024-12-31 11732194 countries:EnglandWales 2024-01-01 2024-12-31 11732194 2023-12-31 11732194 bus:Director1 1 2023-12-31 11732194 core:FurnitureFittingsToolsEquipment 2023-12-31 11732194 core:MotorVehicles 2023-12-31 11732194 2023-01-01 2023-12-31 11732194 2023-12-31 11732194 bus:Director1 1 2023-12-31 11732194 core:RetainedEarningsAccumulatedLosses 2023-12-31 11732194 core:ShareCapital 2023-12-31 11732194 core:CurrentFinancialInstruments 2023-12-31 11732194 core:CurrentFinancialInstruments core:WithinOneYear 2023-12-31 11732194 core:FurnitureFittingsToolsEquipment 2023-12-31 11732194 core:MotorVehicles 2023-12-31 11732194 bus:Director1 1 2023-01-01 2023-12-31 11732194 bus:Director1 1 2022-12-31 iso4217:GBP xbrli:pure

Registration number: 11732194

Black Country Pallets (Midlands) Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 December 2024

 

Black Country Pallets (Midlands) Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 8

 

Black Country Pallets (Midlands) Limited

Company Information

Director

Mr L S Moore

Registered office

11c Kingswood Road
Hampton Lovett
Droitwich
Worcestershire
WR9 0QH

Accountants

Ballards LLP
Chartered Accountants
Oakmoore Court
11c Kingswood Road
Hampton Lovett
Droitwich
Worcestershire
WR9 0QH

 

Black Country Pallets (Midlands) Limited

(Registration number: 11732194)
Balance Sheet as at 31 December 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

65,321

41,631

Current assets

 

Stocks

5

80,000

100,520

Debtors

6

163,321

113,927

Cash at bank and in hand

 

291,340

167,139

 

534,661

381,586

Creditors: Amounts falling due within one year

7

(176,833)

(172,325)

Net current assets

 

357,828

209,261

Net assets

 

423,149

250,892

Capital and reserves

 

Called up share capital

2

2

Retained earnings

423,147

250,890

Shareholders' funds

 

423,149

250,892

For the financial year ending 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 20 June 2025
 

.........................................
Mr L S Moore
Director

   
     
 

Black Country Pallets (Midlands) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
11c Kingswood Road
Hampton Lovett
Droitwich
Worcestershire
WR9 0QH

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

Black Country Pallets (Midlands) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

 

Black Country Pallets (Midlands) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 7 (2023 - 7).

 

Black Country Pallets (Midlands) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

4

Tangible assets

Furniture, fittings and equipment
 £

Motor vehicles
 £

Total
£

Cost or valuation

At 1 January 2024

80,802

16,120

96,922

Additions

45,463

-

45,463

At 31 December 2024

126,265

16,120

142,385

Depreciation

At 1 January 2024

43,102

12,189

55,291

Charge for the year

20,791

982

21,773

At 31 December 2024

63,893

13,171

77,064

Carrying amount

At 31 December 2024

62,372

2,949

65,321

At 31 December 2023

37,700

3,931

41,631

Included within the net book value of land and buildings above is £Nil (2023 - £Nil) in respect of freehold land and buildings.
 

5

Stocks

2024
£

2023
£

Other inventories

80,000

100,520

6

Debtors

Current

2024
£

2023
£

Trade debtors

159,954

109,411

Prepayments

3,367

3,328

Other debtors

-

1,188

 

163,321

113,927

 

Black Country Pallets (Midlands) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

7

Creditors

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

8

-

20,000

Taxation and social security

 

115,586

107,339

Accruals and deferred income

 

22,994

29,456

Other creditors

 

38,253

15,530

 

176,833

172,325

8

Loans and borrowings

Current loans and borrowings

2024
£

2023
£

Other borrowings

-

20,000

 

Black Country Pallets (Midlands) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

9

Related party transactions

Transactions with the director

2024

At 1 January 2024
£

Advances to director
£

Repayments by director
£

At 31 December 2024
£

Mr L S Moore

1,188

37,560

(37,000)

1,748

2023

At 1 January 2023
£

Advances to director
£

Repayments by director
£

At 31 December 2023
£

Mr L S Moore

(7,712)

58,470

(49,570)

1,188