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COMPANY REGISTRATION NUMBER: 02899910

Payne Pallet Inverters Limited

Unaudited financial statements

For the year ended

31 July 2025

Payne Pallet Inverters Limited

Statement of financial position

31 July 2025

| 2025 | 2024
Note | £ | £ | £ | £

Fixed assets

Tangible assets | 5 |  | 583,366 |  | 450,020

Current assets

Stocks | 6 | 322,733 |  | 303,240 |
Debtors | 7 | 514,163 |  | 393,121 |
Cash at bank and in hand | 594,731 |  | 716,734 |
| ----------- |  | ----------- |
| 1,431,627 |  | 1,413,095 |

Creditors: Amounts falling due within one year | 8 | ( 233,082) |  | ( 269,135) |
| ----------- |  | ----------- |
Net current assets |  | 1,198,545 |  | 1,143,960
|  | ----------- |  | -----------
Total assets less current liabilities |  | 1,781,911 |  | 1,593,980

Provisions

Taxation including deferred tax |  | ( 115,824) |  | ( 80,629)

Accruals and deferred income |  | ( 23,683) |  | ( 66,869)
|  | ----------- |  | -----------
Net assets |  | 1,642,404 |  | 1,446,482
|  | ----------- |  | -----------

Capital and reserves

Called up share capital | 9 |  | 1,035 |  | 1,035
Share premium account |  | 737,058 |  | 737,058
Profit and loss account |  | 904,311 |  | 708,389
|  | ----------- |  | -----------
Shareholders funds |  | 1,642,404 |  | 1,446,482
|  | ----------- |  | -----------

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 income statement has not been delivered.
For the year ending 31 July 2025 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 .

Payne Pallet Inverters Limited

Statement of financial position (continued)

31 July 2025
These financial statements were approved by the board of directors and authorised for issue on 5 November 2025 , and are signed on behalf of the board by:

Mr D Payne
Director

Company registration number: 02899910

Payne Pallet Inverters Limited

Notes to the financial statements

Year ended 31 July 2025
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Paynes Business Park, Dereham Road, Beeston, Kings Lynn, Norfolk, PE32 2NQ.
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. The financial statements are prepared in sterling, which is the functional currency of the entity.
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.
Foreign currencies
Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.
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:

| Freehold property | - | 2% straight line
| Plant and machinery | - | 20% straight line
| Inverters | - | 20% straight line
| Motor vehicles | - | 25% 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.
Finance leases and hire purchase contracts
Assets held under finance leases and hire purchase contracts are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.
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 employees during the year was 17 (2024: 17 ).
5. Tangible assets

| Freehold property | Plant and machinery | Inverters | Motor vehicles | Total
| £ | £ | £ | £ | £
Cost |  |  |  |  |
At 1 August 2024 | 79,837 | 399,502 | 917,640 | 320,223 | 1,717,202
Additions | – | 55,894 | 213,182 | 118,698 | 387,774
Disposals | – | – | ( 96,337) | ( 65,463) | ( 161,800)
| ------- | --------- | ----------- | --------- | -----------
At 31 July 2025 | 79,837 | 455,396 | 1,034,485 | 373,458 | 1,943,176
| ------- | --------- | ----------- | --------- | -----------
Depreciation |  |  |  |  |
At 1 August 2024 | 47,365 | 372,486 | 679,274 | 168,057 | 1,267,182
Charge for the year | 1,597 | 17,839 | 131,036 | 56,677 | 207,149
Disposals | – | – | ( 75,460) | ( 39,061) | ( 114,521)
| ------- | --------- | ----------- | --------- | -----------
At 31 July 2025 | 48,962 | 390,325 | 734,850 | 185,673 | 1,359,810
| ------- | --------- | ----------- | --------- | -----------
Carrying amount |  |  |  |  |
At 31 July 2025 | 30,875 | 65,071 | 299,635 | 187,785 | 583,366
| ------- | --------- | ----------- | --------- | -----------
At 31 July 2024 | 32,472 | 27,016 | 238,366 | 152,166 | 450,020
| ------- | --------- | ----------- | --------- | -----------

6. Stocks

| 2025 | 2024
| £ | £
Raw materials and consumables | 322,733 | 303,240
| --------- | ---------

7. Debtors

| 2025 | 2024
| £ | £
Trade debtors | 469,406 | 350,568
Amounts owed by group undertakings | 506 | 1,073
Other debtors | 44,251 | 41,480
| --------- | ---------
| 514,163 | 393,121
| --------- | ---------

8. Creditors: Amounts falling due within one year

| 2025 | 2024
| £ | £
Trade creditors | 80,298 | 102,459
Amounts owed to group undertakings | 7,559 | 6,723
Social security and other taxes | 145,225 | 146,635
Other creditors | – | 13,318
| --------- | ---------
| 233,082 | 269,135
| --------- | ---------

Included within other creditors falling due within one year above are finance leases and hire purchase contracts totalling £Nil (2024: £13,318) secured on the assets to which they relate.
9. Called up share capital
Issued, called up and fully paid

| 2025 | 2024
| No. | £ | No. | £
Ordinary shares of £ 1 each | 1,035 | 1,035 | 1,035 | 1,035
| ------ | ------ | ------ | ------

10. Ultimate controlling party
The ultimate parent company is D. Payne Holding Ltd, a company registered in England and Wales, whose registered office is Paynes Business Park, Dereham Road, Beeston, King's Lynn, United Kingdom, PE32 2NQ.