PALLET RECYCLING SOUTH WALES LIMITED

Registered number

07639190

Filleted Accounts

31 March 2025

PALLET RECYCLING SOUTH WALES LIMITED
Registered number:		07639190
Balance Sheet
as at 31 March 2025

Notes			2025			2024
£				£
Fixed assets
Tangible assets	3		2,582,772			2,249,212

Current assets
Stocks		111,497			143,278
Debtors	4	1,446,680			1,575,572
Investments held as current assets	5	-			1,790
Cash at bank and in hand		929,659			540,205
		2,487,836			2,260,845

Creditors: amounts falling due within one year	6	(1,779,377)			(1,724,307)

Net current assets			708,459			536,538

Total assets less current liabilities			3,291,231			2,785,750

Creditors: amounts falling due after more than one year	7		(728,269)			(562,102)

Provisions for liabilities			(209,645)			(142,592)


Net assets			2,353,317			2,081,056

Capital and reserves
Called up share capital			100			100
Profit and loss account			2,353,217			2,080,956

Shareholders' funds			2,353,317			2,081,056

The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.



Mr L Ross
Director
Approved by the board on 10 December 2025

PALLET RECYCLING SOUTH WALES LIMITED
Notes to the Accounts
for the year ended 31 March 2025


1	Accounting policies

	Basis of preparation
	The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).

	Turnover
	Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.

	Tangible fixed assets
	Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:

	Freehold property			25% straight line
	Plant and machinery			20% reducing balance
	Fixtures, fittings, tools and equipment			20% reducing balance

	Stocks
	Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.

	Debtors
	Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.

	Creditors
	Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.


	Taxation
	A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.

	Pensions
	Contributions to defined contribution plans are expensed in the period to which they relate.


2	Employees					2025		2024
Number							Number

	Average number of persons employed by the company					39		77


3	Tangible fixed assets
		Land and buildings		Plant and machinery etc		Motor vehicles		Total
£			£		£		£
	Cost
	At 1 April 2024	1,643,700		1,057,291		24,700		2,725,691
	Additions	61,576		502,272		47,000		610,848
	Disposals	(2,206)		(41,020)		-		(43,226)
	At 31 March 2025	1,703,070		1,518,543		71,700		3,293,313

	Depreciation
	At 1 April 2024	143,182		330,827		2,470		476,479
	Charge for the year	81,208		156,406		27,713		265,327
	On disposals	(698)		(30,567)		-		(31,265)
	At 31 March 2025	223,692		456,666		30,183		710,541

	Net book value
	At 31 March 2025	1,479,378		1,061,877		41,517		2,582,772
	At 31 March 2024	1,500,518		726,464		22,230		2,249,212


4	Debtors					2025		2024
£							£

	Trade debtors					1,196,242		1,346,468
	Other debtors					250,438		229,104
						1,446,680		1,575,572


5	Investments held as current assets					2025		2024
£							£
	Fair value
	Unlisted investments					-		1,790



6	Creditors: amounts falling due within one year					2025		2024
£							£

	Bank loans and overdrafts					36,817		36,817
	Obligations under finance lease and hire purchase contracts					64,977		-
	Trade creditors					861,118		899,590
	Taxation and social security costs					600,951		510,583
	Other creditors					215,514		277,317
						1,779,377		1,724,307


7	Creditors: amounts falling due after one year					2025		2024
£							£

	Bank loans					465,528		506,214
	Obligations under finance lease and hire purchase contracts					241,147		-
	Other creditors					21,594		55,888
						728,269		562,102


8	Loans					2025		2024
£							£
	Creditors include:

	Secured bank loans					502,344		543,031

	Lloyds Bank Plc security includes fixed charge and negative pledge. Also floating charge covers all the property or undertaking of the company.


9	Loans to directors
	Description and conditions	B/fwd	Paid		Repaid		C/fwd
£			£		£		£
	Mr L Ross
	Directors loan account	(4,451)		395,524		(399,274)		(8,201)

	Mr L P Szade
	Directors loan account	(291)		383,856		(383,616)		(51)

		(4,742)		779,380		(782,890)		(8,252)


10	Related party transactions

	Mr L Ross, being a director and shareholder of Pallet Recycling South Wales Limited is also a director and shareholder of Edwards & Ross Pallets Limited. At 31st March 2025, £91,575.99 (2024: £99,440.39) was owed to Edwards & Ross Pallets Limited in respect of goods for resale. At 31st March 2025, £75,138.94 (2024: £51,109.47) was owed to Pallet Recycling South Wales Limited in respect of goods for resale.

11	Controlling party

	The company is ultimately controlled by the directors by virtue of their shareholding.


12	Other information

	PALLET RECYCLING SOUTH WALES LIMITED is a private company limited by shares and incorporated in England. Its registered office is:
	Traston House
	Corporation Road
	Newport
	South Wales
	NP19 4RD