Shaw Pallet (Holdings) Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 06272041 (England and Wales)

Shaw Pallet (Holdings) Limited

Financial Statements

for the Year Ended 31 March 2019

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mr C J Hillaby

Mr M M Dragicevic

Mr J M Coupland

SECRETARY:

Mr M M Dragicevic

REGISTERED OFFICE:

Shaw Pallet Building

Bridge Street

Slaithwaite

Huddersfield

West Yorkshire

HD7 5JN

REGISTERED NUMBER:

06272041 (England and Wales)

AUDITORS:

Jolliffe Cork LLP

Chartered Accountants & Statutory Auditor

33 George Street

Wakefield

West Yorkshire

WF1 1LX

BANKERS:

National Westminster Bank Plc

8 Market Place

Huddersfield

HD1 2AN

FIXED ASSETS

Tangible assets

3

1,100,210

1,125,510

Investments

4

1,253,794

1,253,794

2,354,004

2,379,304

CURRENT ASSETS

Cash at bank

7,298

8,974

CREDITORS

Amounts falling due within one year

5

1,853,179

1,834,512

NET CURRENT LIABILITIES

(1,845,881

)

(1,825,538

)

TOTAL ASSETS LESS CURRENT LIABILITIES

508,123

553,766

CREDITORS

Amounts falling due after more than one year

6

(200,000

)

(290,000

)

PROVISIONS FOR LIABILITIES

(7,092

)

(6,663

)

NET ASSETS

301,031

257,103

CAPITAL AND RESERVES

Called up share capital

9

80

80

Capital redemption reserve

20

20

Retained earnings

300,931

257,003

SHAREHOLDERS' FUNDS

301,031

257,103

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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors on 10 October 2019 and were signed on its behalf by:

Mr C J Hillaby - Director

Mr M M Dragicevic - Director

1.	STATUTORY INFORMATION

Shaw Pallet (Holdings) Limited is a private company, limited by shares , registered in England and Wales. The company's

registered number and registered office address can be found on the Company Information page.

The functional and presentation currency for the company is the pound sterling (£). All financial information presented has

been rounded to the nearest (£), unless otherwise stated.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

In 2018 the directors considered the full impact of the FRS 102 Triennial Review Amendments 2017 and decided to early

adopt the provisions in the preparation of those financial statements for the year ended 31 March 2018. Consequently, the

Freehold property was recategorised and transferred back to property, plant and equipment, rather than Investment

property, and the 2017 comparative information was restated. The directors continue to early adopt the provisions in the

preparation of these financial statements, for the year ended 31 March 2019.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Freehold land and buildings

-

2% on cost

Plant and machinery

-

25% on reducing balance

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost less any provision for impairment.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent

that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively

enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in

which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted

or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Operating lease agreements

Where the company retains substantially all the risks and rewards of ownership of the asset subject to the lease, as lessor,

the asset is shown within fixed assets and is depreciated over its useful life. Rental income from these operating leases is

recognised on a straight line basis over the period of the lease.

3.	TANGIBLE FIXED ASSETS

Freehold

land and

Plant and

buildings

machinery

Totals

£

£

£

COST

At 1 April 2018

and 31 March 2019

1,250,611

59,971

1,310,582

DEPRECIATION

At 1 April 2018

135,774

49,298

185,072

Charge for year

22,632

2,668

25,300

At 31 March 2019

158,406

51,966

210,372

NET BOOK VALUE

At 31 March 2019

1,092,205

8,005

1,100,210

At 31 March 2018

1,114,837

10,673

1,125,510

4.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST

At 1 April 2018

and 31 March 2019

1,253,794

NET BOOK VALUE

At 31 March 2019

1,253,794

At 31 March 2018

1,253,794

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Other loans (see note 7)

90,000

90,000

Amounts owed to group undertakings

1,730,694

1,700,694

Tax

14,712

16,021

VAT

3,448

5,460

Other creditors

12,074

-

Directors' loan accounts

-

20,000

Accruals and deferred income

2,251

2,337

1,853,179

1,834,512

6.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2019

2018

£

£

Other loans (see note 7)

200,000

290,000

7.

LOANS

An analysis of the maturity of loans is given below:

2019

2018

£

£

Amounts falling due within one year or on demand:

Other loans

90,000

90,000

Amounts falling due between one and two years:

Other loans - 1-2 years

200,000

90,000

Amounts falling due between two and five years:

Other loans - 2-5 years

-

200,000

8.	SECURED DEBTS

The following secured debts are included within creditors:

2019

2018

£

£

Other loans

290,000

380,000

The rate of interest on the loan is 3.2% above Bank of England base rate. The loan is repayable at a rate of £7,500 per

month with the final instalment of £170,000 payable on 19 July 2020.

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2019

2018

value:

£

£

80

Ordinary

£1

80

80

10.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Timothy Hill FCA (Senior Statutory Auditor)

for and on behalf of Jolliffe Cork LLP

11.	RELATED PARTY DISCLOSURES