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 2022

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

Mr C J Hillaby

Mr A Lewis

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:

SMH Jolliffe Cork Audit Ltd

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

4

-

1,051,444

Investments

5

1,253,794

1,253,794

1,253,794

2,305,238

CURRENT ASSETS

Debtors

6

945,000

-

Cash at bank

23

66,682

945,023

66,682

CREDITORS

Amounts falling due within one year

7

1,793,522

1,947,013

NET CURRENT LIABILITIES

(848,499

)

(1,880,331

)

TOTAL ASSETS LESS CURRENT LIABILITIES

405,295

424,907

PROVISIONS FOR LIABILITIES

-

7,525

NET ASSETS

405,295

417,382

CAPITAL AND RESERVES

Called up share capital

8

80

80

Capital redemption reserve

20

20

Retained earnings

405,195

417,282

SHAREHOLDERS' FUNDS

405,295

417,382

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 and authorised for issue on 22 September 2022 and were signed on its behalf by:

Mr C J Hillaby - Director

Mr A Lewis - 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.

Going concern

On 25 March 2022, the company sold its property and thereafter ceased to benefit from any rental income. The company was also acquired by Shaw Pallets Group Limited on 25 March 2022 and has, since that date, remained as an interim holding company with no other activities.

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.

Financial instruments

The company has chosen to adopt Sections 11 and 12 of FRS 102 in respect of financial instruments.

All financial assets and liabilities are initially measured at transaction price (including transaction costs), except for those financial assets classified as at fair value through profit or loss, which are initially measured at fair value (which is normally the transaction price excluding transaction costs), unless the arrangement constitutes a financing transaction. If an arrangement constitutes a financing transaction, the financial asset or financial liability is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Financial assets and liabilities are only offset in the balance sheet when and only when there exists a legally enforceable right to set off the recognised amounts and the company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Financial assets are derecognised when and only when; a) the contractual rights to the cash flows from the financial asset expire or are settled, b) the company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or, c) the company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Financial liabilities are derecognised only when the obligation specified in the contract is discharged, cancelled or expires.

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.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2021 - NIL).

4.	TANGIBLE FIXED ASSETS

Freehold

land and

Plant and

buildings

machinery

Totals

£

£

£

COST

At 1 April 2021

1,250,611

59,971

1,310,582

Disposals

(1,250,611

)

(59,971

)

(1,310,582

)

At 31 March 2022

-

-

-

DEPRECIATION

At 1 April 2021

203,670

55,468

259,138

Eliminated on disposal

(203,670

)

(55,468

)

(259,138

)

At 31 March 2022

-

-

-

NET BOOK VALUE

At 31 March 2022

-

-

-

At 31 March 2021

1,046,941

4,503

1,051,444

5.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST

At 1 April 2021

and 31 March 2022

1,253,794

NET BOOK VALUE

At 31 March 2022

1,253,794

At 31 March 2021

1,253,794

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2022

2021

£

£

Amounts owed by group undertakings

945,000

-

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2022

2021

£

£

Amounts owed to group undertakings

1,765,694

1,920,694

Tax

20,368

18,984

VAT

5,460

5,460

Accruals and deferred income

2,000

1,875

1,793,522

1,947,013

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2022

2021

value:

£

£

80

Ordinary

£1

80

80

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

The Report of the Auditors was unqualified.

Claire Lawton FCA DChA (Senior Statutory Auditor)

for and on behalf of SMH Jolliffe Cork Audit Ltd

10.	RELATED PARTY DISCLOSURES