Registration number: 08013885

Glasby Pallets Limited

Contents

Company Information	1
Balance Sheet	2 to 3
Notes to the Unaudited Financial Statements	4 to 9

Glasby Pallets Limited

Company Information

Director

Ms N Glasby

Registered office

35 Thorne Road Doncaster South Yorkshire DN1 2HD

Glasby Pallets Limited

(Registration number: 08013885)
Balance Sheet as at 31 March 2026

	Note	2026 £	2025 £
Fixed assets
Tangible assets	4	2,319,095	1,728,647
Current assets
Stocks	5	299,292	298,210
Debtors	6	2,156,432	2,032,182
Cash at bank and in hand		85,545	107,828
		2,541,269	2,438,220
Creditors: Amounts falling due within one year	7	(3,128,029)	(2,794,912)
Net current liabilities		(586,760)	(356,692)
Total assets less current liabilities		1,732,335	1,371,955
Creditors: Amounts falling due after more than one year	7	(488,614)	(217,834)
Net assets		1,243,721	1,154,121
Capital and reserves
Called up share capital		5,000	5,000
Retained earnings		1,238,721	1,149,121
Shareholders' funds		1,243,721	1,154,121

For the financial year ending 31 March 2026 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 her 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 and 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 31 July 2026
 

Glasby Pallets Limited

(Registration number: 08013885)
Balance Sheet as at 31 March 2026

......................................... Ms N Glasby Director

Glasby Pallets Limited

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

1	General information

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

The address of its registered office is:
35 Thorne Road
Doncaster
South Yorkshire
DN1 2HD

These financial statements were authorised for issue by the director on 31 July 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 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.

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.

Glasby Pallets Limited

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

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
Furniture and fittings	20% reducing balance

Investment property

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

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.

Glasby Pallets Limited

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

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.

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.

Glasby Pallets Limited

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

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 44 (2025 - 39).

4	Tangible assets

	Land and buildings £	Furniture, fittings and equipment  £	Motor vehicles  £	Other tangible assets £	Total £
Cost or valuation
At 1 April 2025	48,000	57,263	314,730	1,935,984	2,355,977
Additions	18,645	-	71,250	966,123	1,056,018
Disposals	-	-	(198,060)	(135,817)	(333,877)
At 31 March 2026	66,645	57,263	187,920	2,766,290	3,078,118
Depreciation
At 1 April 2025	-	30,659	44,537	552,134	627,330
Charge for the year	-	7,567	25,085	229,074	261,726
Eliminated on disposal	-	-	(38,567)	(91,466)	(130,033)
At 31 March 2026	-	38,226	31,055	689,742	759,023
Carrying amount
At 31 March 2026	66,645	19,037	156,865	2,076,548	2,319,095
At 31 March 2025	48,000	26,604	270,193	1,383,850	1,728,647

Included within the net book value of land and buildings above is £66,645 (2025 - £48,000) in respect of freehold land and buildings.
 

Glasby Pallets Limited

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

5

Stocks

	2026 £	2025 £
Work in progress	19,178	20,140
Other inventories	280,114	278,070
	299,292	298,210

6

Debtors

Current	Note	2026 £	2025 £
Trade debtors		1,904,072	1,668,226
Amounts owed by related parties		225,063	163,056
Prepayments		18,080	27,280
Other debtors		9,217	173,620
		2,156,432	2,032,182

Glasby Pallets Limited

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

7

Creditors

Creditors: amounts falling due within one year

	Note	2026 £	2025 £
Due within one year
Loans and borrowings	8	1,712,110	1,380,513
Trade creditors		1,217,595	1,246,075
Taxation and social security		188,254	160,599
Accruals and deferred income		4,725	7,725
Other creditors		5,345	-
		3,128,029	2,794,912

Creditors: amounts falling due after more than one year

	Note	2026 £	2025 £
Due after one year
Loans and borrowings	8	488,614	217,834

8	Loans and borrowings

Non-current loans and borrowings

	2026 £	2025 £
Bank borrowings	-	4,882
Hire purchase contracts	488,614	212,952
	488,614	217,834

Current loans and borrowings

	2026 £	2025 £
Bank borrowings	5,000	10,000
Hire purchase contracts	428,764	196,751
Other borrowings	1,278,346	1,173,762
	1,712,110	1,380,513