D&K Pallets Limited - Accounts to registrar (filleted) - small 17.3

REGISTERED NUMBER: 08200122 (England and Wales)

D&K Pallets Limited

Unaudited Financial Statements

for the Year Ended 30 September 2017

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

D L Brown

D A Brown

REGISTERED OFFICE:

Unit C3A

Carlinghow Mills

Bradford Road

Batley

West Yorkshire

WF17 8LN

REGISTERED NUMBER:

08200122 (England and Wales)

ACCOUNTANTS:

Howard & Co. Accountants LLP

6 Market Street

Birstall

West Yorkshire

WF17 9EN

FIXED ASSETS

Tangible assets

4

30,363

27,140

CURRENT ASSETS

Stocks

27,587

14,755

Debtors

5

77,001

63,081

Cash at bank

25,683

20,198

130,271

98,034

CREDITORS

Amounts falling due within one year

6

99,766

108,064

NET CURRENT ASSETS/(LIABILITIES)

30,505

(10,030

)

TOTAL ASSETS LESS CURRENT LIABILITIES

60,868

17,110

CREDITORS

Amounts falling due after more than one year

7

(3,141

)

-

PROVISIONS FOR LIABILITIES

(5,451

)

(4,860

)

NET ASSETS

52,276

12,250

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

52,176

12,150

SHAREHOLDERS' FUNDS

52,276

12,250

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2017 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

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 21 March 2018 and were signed on its behalf by:

D A Brown - Director

1.	STATUTORY INFORMATION

D&K Pallets 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.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

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

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates,

value added tax and other sales taxes.

Tangible fixed assets

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

Plant and machinery etc

-

25% on reducing balance and 15% on reducing balance

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow

moving items.

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.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension

scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 October 2016

38,400

Additions

11,796

Disposals

(3,500

)

At 30 September 2017

46,696

DEPRECIATION

At 1 October 2016

11,260

Charge for year

7,204

Eliminated on disposal

(2,131

)

At 30 September 2017

16,333

NET BOOK VALUE

At 30 September 2017

30,363

At 30 September 2016

27,140

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Trade debtors

73,321

58,296

Other debtors

3,680

4,785

77,001

63,081

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Hire purchase contracts

1,300

2,313

Trade creditors

11,185

15,895

Taxation and social security

24,785

13,318

Other creditors

62,496

76,538

99,766

108,064

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2017

2016

£

£

Hire purchase contracts

3,141

-

8.	SECURED DEBTS

The following secured debts are included within creditors:

2017

2016

£

£

Hire purchase contracts

4,441

-

The hire purchase was secured on the asset to which it relates.

9.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

Included within creditors: amounts falling due within one year, were loans from the directors of £60,520 (2016:

£74,610). The loans were interest free, with no fixed date for repayment.