Company registration number 00657549 (England and Wales)
PALLETT HILL SAND & GRAVEL CO LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2025
PAGES FOR FILING WITH REGISTRAR
PALLETT HILL SAND & GRAVEL CO LTD
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 9
PALLETT HILL SAND & GRAVEL CO LTD
BALANCE SHEET
AS AT
30 JUNE 2025
30 June 2025
- 1 -
2025
2024
Notes
£
£
£
£
Fixed assets
Tangible assets
3
187,038
225,931
Investment property
4
2,373,900
1,775,000
Investments
5
504,394
557,900
3,065,332
2,558,831
Current assets
Debtors
6
1,095,771
665,876
Cash at bank and in hand
418,739
608,973
1,514,510
1,274,849
Creditors: amounts falling due within one year
7
(426,211)
(237,371)
Net current assets
1,088,299
1,037,478
Total assets less current liabilities
4,153,631
3,596,309
Creditors: amounts falling due after more than one year
8
(188,050)
(377,943)
Provisions for liabilities
(307,835)
(145,352)
Net assets
3,657,746
3,073,014
Capital and reserves
Called up share capital
20,073
20,073
Profit and loss reserves
3,637,673
3,052,941
Total equity
3,657,746
3,073,014
PALLETT HILL SAND & GRAVEL CO LTD
BALANCE SHEET (CONTINUED)
AS AT
30 JUNE 2025
30 June 2025
- 2 -

For the financial year ended 30 June 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

T he 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 Companies Act 2006 with respect to accounting records and the preparation of financial statements.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

The financial statements were approved by the board of directors and authorised for issue on 5 February 2026 and are signed on its behalf by:
D Robinson
C G Simpson
Director
Director
Company registration number 00657549 (England and Wales)
PALLETT HILL SAND & GRAVEL CO LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2025
- 3 -
1
Accounting policies
Company information

Pallett Hill Sand & Gravel Co Ltd is a private company limited by shares incorporated in England and Wales. The registered office is 9 St Paulinus Crescent, Catterick Village, Richmond, North Yorkshire, DL10 7UB.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

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

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.

1.2
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for rentals and goods provided in the normal course of business excluding VAT. Rental income is recognised when receivable.

1.3
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost of assets less their residual values over their useful lives on the following bases:

Buildings
4% SL
Plant and machinery
15% - 20% RB

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.4
Investment property

Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value a t the reporting end date. Changes in fair value are recognised in profit or loss.

1.5
Fixed asset investments

Other financial assets, including investments in equity instruments which are not subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the transaction price. Such assets are subsequently carried at fair value and the changes in fair value are recognised in profit or loss, except that investments in equity instruments that are not publicly traded and whose fair values cannot be measured reliably are measured at cost less impairment.

PALLETT HILL SAND & GRAVEL CO LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2025
1
Accounting policies
(Continued)
- 4 -
1.6
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the 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 an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.

If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to apply. Where an impairment loss subsequently reverses, the carrying amount of the asset (or cash-generating unit) is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset (or cash-generating unit) in prior years. A reversal of an impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase.

1.7
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.8
Financial instruments
Other financial assets

Other financial assets, including investments in equity instruments which are not subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the transaction price. Such assets are subsequently carried at fair value and the changes in fair value are recognised in profit or loss, except that investments in equity instruments that are not publicly traded and whose fair values cannot be measured reliably are measured at cost less impairment.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

PALLETT HILL SAND & GRAVEL CO LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2025
1
Accounting policies
(Continued)
- 5 -
Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future paymen ts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. A m ounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

1.9
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.10
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and 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. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

PALLETT HILL SAND & GRAVEL CO LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2025
1
Accounting policies
(Continued)
- 6 -
1.11
Leases
As lessee

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.

Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the balance sheet as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to profit or loss so as to produce a constant periodic rate of interest on the remaining balance of the liability.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2025
2024
Number
Number
Total
2
1
3
Tangible fixed assets
Land and buildings
Plant and machinery etc
Total
£
£
£
Cost
At 1 July 2024 and 30 June 2025
116,303
334,551
450,854
Depreciation and impairment
At 1 July 2024
105,692
119,231
224,923
Depreciation charged in the year
4,652
34,241
38,893
At 30 June 2025
110,344
153,472
263,816
Carrying amount
At 30 June 2025
5,959
181,079
187,038
At 30 June 2024
10,611
215,320
225,931
4
Investment property
2025
£
Fair value
At 1 July 2024
1,775,000
Revaluations
598,900
At 30 June 2025
2,373,900
PALLETT HILL SAND & GRAVEL CO LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2025
4
Investment property
(Continued)
- 7 -

The fair value of the quarry investment property has been arrived at on the basis of a valuation by Thomlinsons Chartered Surveyors, 24 High Street, Wetherby on 26 January 2026. The valuation of other investment properties were made on an open market value basis by reference to market evidence of transaction prices for similar properties by the director.

5
Fixed asset investments
2025
2024
£
£
Other investments other than loans
504,394
557,900
Fixed asset investments revalued

Fixed asset investments includes unlisted and listed shares. Listed investments have been revalued according to the share price as at 30 June 2025. The historic cost of these shares are £435,102.

Movements in fixed asset investments
Investments
£
Cost or valuation
At 1 July 2024
557,900
Additions
42,677
Valuation changes
(76,524)
Disposals
(19,659)
At 30 June 2025
504,394
Carrying amount
At 30 June 2025
504,394
At 30 June 2024
557,900
6
Debtors
2025
2024
Amounts falling due within one year:
£
£
Other debtors
1,095,771
665,876
PALLETT HILL SAND & GRAVEL CO LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2025
- 8 -
7
Creditors: amounts falling due within one year
2025
2024
£
£
Bank loans
169,986
20,800
Trade creditors
40
1,164
Taxation and social security
178,502
137,074
Other creditors
77,683
78,333
426,211
237,371

Net obligations under finance lease and hire purchase contracts, included in other creditors 2025 - £16,699 (2024 - £16,699), are secured by fixed charges on the assets concerned.

The bank loans are secured on the assets of the company.

8
Creditors: amounts falling due after more than one year
2025
2024
£
£
Bank loans and overdrafts
162,017
326,044
Other creditors
26,033
51,899
188,050
377,943

Net obligations under finance lease and hire purchase contracts, included in other creditors 2025 - £26,033 (2024 - £42,732), are secured by fixed charges on the assets concerned.

The loans are secured on the assets of the company.

PALLETT HILL SAND & GRAVEL CO LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2025
- 9 -
10
Directors' transactions

Dividends totalling £0 (2024 - £100,000) were paid in the year in respect of shares held by the company's directors.

Interest free loans have been granted by the company to its directors as follows:

Description
% Rate
Opening balance
Amounts advanced
Amounts repaid
Closing balance
£
£
£
£
Loan to director
-
450,887
307,103
(4,695)
753,295
450,887
307,103
(4,695)
753,295
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