Registration number: 08322731

R Ingham (Pallets) Ltd

Contents

Balance Sheet	1 to 2
Notes to the Unaudited Financial Statements	3 to 10

R Ingham (Pallets) Ltd

(Registration number: 08322731)
Balance Sheet as at 31 January 2026

	Note	2026 £	2025 £
Fixed assets
Tangible assets	4	1,111,926	1,111,446
Investment property	5	138,499	138,499
		1,250,425	1,249,945
Current assets
Stocks	6	44,500	44,500
Debtors	7	401,053	359,796
Cash at bank and in hand		157,917	114,615
		603,470	518,911
Creditors: Amounts falling due within one year	8	(440,072)	(412,380)
Net current assets		163,398	106,531
Total assets less current liabilities		1,413,823	1,356,476
Creditors: Amounts falling due after more than one year	8	(86,379)	(100,645)
Provisions for liabilities		(65,481)	(61,979)
Net assets		1,261,963	1,193,852
Capital and reserves
Called up share capital		100	100
Revaluation reserve		546,902	546,902
Retained earnings		714,961	646,850
Shareholders' funds		1,261,963	1,193,852

R Ingham (Pallets) Ltd

(Registration number: 08322731)
Balance Sheet as at 31 January 2026

For the financial year ending 31 January 2026 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 accounts for the year in question in accordance with section 476; and
•	The directors acknowledge their 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 directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 18 May 2026 and signed on its behalf by:
 

......................................... P Ingham Director

R Ingham (Pallets) Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2026

1	General information

The company is a private company limited by share capital, incorporated in United Kingdom.

The address of its registered office is:
The Sawmills
Gorse Street
Blackburn
Lancashire
BB1 3EU
England

These financial statements were authorised for issue by the Board on 18 May 2026.

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 - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared in sterling (£) 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 and deferred 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.

R Ingham (Pallets) Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2026

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.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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.

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:

Asset class	Depreciation method and rate
Plant and machinery	20% reducing balance
Office equipment	25% reducing balance
Furniture and fittings	20% reducing balance
Motor vehicles	25% reducing balance
Land and buildings	2% straight line

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

Business combinations

Business combinations are accounted for using the purchase method. The consideration for each acquisition is measured at the aggregate of the fair values at acquisition date of assets given, liabilities incurred or assumed, and equity instruments issued by the group in exchange for control of the acquired, plus any costs directly attributable to the business combination. When a business combination agreement provides for an adjustment to the cost of the combination contingent on future events, the group includes the estimated amount of that adjustment in the cost of the combination at the acquisition date if the adjustment is probable and can be measured reliably.

R Ingham (Pallets) Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2026

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.


Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

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.

R Ingham (Pallets) Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2026

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.

Leases

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

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

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 directors) during the year, was 14 (2025 - 19).

R Ingham (Pallets) Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2026

4	Tangible assets

	Land and buildings £	Furniture, fittings and equipment  £	Motor vehicles  £	Other tangible assets £	Total £
Cost or valuation
At 1 February 2025	850,000	31,238	127,249	223,663	1,232,150
Additions	-	15,025	49,421	4,649	69,095
Disposals	-	-	(13,913)	-	(13,913)
At 31 January 2026	850,000	46,263	162,757	228,312	1,287,332
Depreciation
At 1 February 2025	-	24,245	31,662	64,796	120,703
Charge for the year	-	2,626	33,382	27,129	63,137
Eliminated on disposal	-	-	(8,434)	-	(8,434)
At 31 January 2026	-	26,871	56,610	91,925	175,406
Carrying amount
At 31 January 2026	850,000	19,392	106,147	136,387	1,111,926
At 31 January 2025	850,000	6,993	95,587	158,866	1,111,446

Revaluation

The fair value of the company's property was revalued on 5 December 2024 by an independent valuer . The name and qualification of the independent valuer are Brent Forbes (BSc MRICS).
Had this class of asset been measured on a historical cost basis, the carrying amount would have been £295,887 (2025 - £303,097).

5	Investment properties

	2026 £
At 1 February	138,499
At 31 January	138,499

6

Stocks

	2026 £	2025 £
Other inventories	44,500	44,500

R Ingham (Pallets) Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2026

7

Debtors

Current	2026 £	2025 £
Trade debtors	314,464	287,145
Prepayments	25,009	23,954
Other debtors	61,580	48,697
	401,053	359,796

8

Creditors

Creditors: amounts falling due within one year

	Note	2026 £	2025 £
Due within one year
Loans and borrowings	10	49,203	46,419
Trade creditors		286,749	282,057
Taxation and social security		98,247	76,552
Accruals and deferred income		1,995	1,900
Other creditors		3,878	5,452
		440,072	412,380

Creditors include bank loans and overdrafts and net obligations under finance lease and hire purchase contracts which are secured of £49,203 (2025 - £46,419)

Creditors: amounts falling due after more than one year

	Note	2026 £	2025 £
Due after one year
Loans and borrowings	10	86,379	100,645

Creditors include bank loans and overdrafts and net obligations under finance lease and hire purchase contracts which are secured of £86,379 (2025 - £100,645).

R Ingham (Pallets) Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2026

9

Reserves

The changes to each component of equity resulting from items of other comprehensive income for the prior year were as follows:

	Revaluation reserve £	Total £
Surplus/deficit on property, plant and equipment revaluation	546,902	546,902

10	Loans and borrowings

	2026 £	2025 £
Non-current loans and borrowings
Bank borrowings	44,657	65,905
Hire purchase contracts	41,722	34,740
	86,379	100,645

	2026 £	2025 £
Current loans and borrowings
Bank borrowings	19,078	16,908
Hire purchase contracts	30,125	29,511
	49,203	46,419

Bank loans and hire purchase contracts are secured on the assets to which they relate.

R Ingham (Pallets) Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2026

11	Related party transactions

Transactions with directors

2026	At 1 February 2025 £	Advances to director £	Repayments by director £	At 31 January 2026 £
P Ingham
Director loan account	(25,621)	(107,749)	108,697	(24,674)

2025	At 1 February 2024 £	Advances to director £	Repayments by director £	At 31 January 2025 £
P Ingham
Director loan account	78	(117,699)	92,000	(25,621)