REGISTERED NUMBER:
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UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30TH APRIL 2020 |
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UNIVERSAL PALLET SERVICES LIMITED |
REGISTERED NUMBER:
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UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30TH APRIL 2020 |
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FOR |
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UNIVERSAL PALLET SERVICES LIMITED |
UNIVERSAL PALLET SERVICES LIMITED (REGISTERED NUMBER: 01334669) |
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CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30TH APRIL 2020 |
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Company Information | 1 |
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Balance Sheet | 2 | to | 3 |
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Notes to the Financial Statements | 4 | to | 7 |
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UNIVERSAL PALLET SERVICES LIMITED |
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COMPANY INFORMATION |
FOR THE YEAR ENDED 30TH APRIL 2020 |
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DIRECTORS: |
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SECRETARY: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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UNIVERSAL PALLET SERVICES LIMITED (REGISTERED NUMBER: 01334669) |
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BALANCE SHEET |
30TH APRIL 2020 |
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30.4.20 | 30.4.19 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
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CURRENT ASSETS |
Stocks |
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Debtors | 5 |
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Cash at bank and in hand |
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CREDITORS |
Amounts falling due within one year | 6 |
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NET CURRENT ASSETS |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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CREDITORS |
Amounts falling due after more than one year | 7 | ( |
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PROVISIONS FOR LIABILITIES | ( |
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NET ASSETS |
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CAPITAL AND RESERVES |
Called up share capital |
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Share premium |
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Retained earnings |
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SHAREHOLDERS' FUNDS |
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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
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(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. |
UNIVERSAL PALLET SERVICES LIMITED (REGISTERED NUMBER: 01334669) |
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BALANCE SHEET - continued |
30TH APRIL 2020 |
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In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
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The financial statements were approved by the Board of Directors and authorised for issue on
on its behalf by: |
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UNIVERSAL PALLET SERVICES LIMITED (REGISTERED NUMBER: 01334669) |
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NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30TH APRIL 2020 |
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1. | STATUTORY INFORMATION |
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Universal Pallet Services Limited is a
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registered number and registered office address can be found on the Company Information page. |
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value |
added tax and other sales taxes. |
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Tangible fixed assets |
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Buildings | - |
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Plant and machinery | - |
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Motor vehicles | - |
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Stocks |
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving |
items. |
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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. |
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Current or deferred taxation assets and liabilities are not discounted. |
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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. |
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Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. |
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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. |
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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. |
UNIVERSAL PALLET SERVICES LIMITED (REGISTERED NUMBER: 01334669) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30TH APRIL 2020 |
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2. | ACCOUNTING POLICIES - continued |
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Hire purchase and leasing commitments |
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire |
purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over |
their estimated useful lives or the lease term, whichever is the shorter. |
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The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the |
future payments is treated as a liability. |
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Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease. |
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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. |
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3. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was
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4. | TANGIBLE FIXED ASSETS |
Plant and | Motor |
Buildings | machinery | vehicles | Totals |
£ | £ | £ | £ |
COST OR VALUATION |
At 1st May 2019 |
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Additions |
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Disposals |
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Revaluations | ( |
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At 30th April 2020 |
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DEPRECIATION |
At 1st May 2019 |
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Charge for year |
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Eliminated on disposal |
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At 30th April 2020 |
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NET BOOK VALUE |
At 30th April 2020 |
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At 30th April 2019 |
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UNIVERSAL PALLET SERVICES LIMITED (REGISTERED NUMBER: 01334669) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30TH APRIL 2020 |
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4. | TANGIBLE FIXED ASSETS - continued |
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Cost or valuation at 30th April 2020 is represented by: |
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Plant and | Motor |
Buildings | machinery | vehicles | Totals |
£ | £ | £ | £ |
Valuation in 2016 | (2,106 | ) | 5,365 | 6,076 | 9,335 |
Valuation in 2017 | (1 | ) | 721 | 15,174 | 15,894 |
Valuation in 2018 | (1,125 | ) | 162 | (9,695 | ) | (10,658 | ) |
Valuation in 2019 | (4,000 | ) | 2,135 | 9,363 | 7,498 |
Valuation in 2020 | (5,298 | ) | 3,103 | 10,739 | 8,544 |
Cost | 93,530 | 91,445 | 182,790 | 367,765 |
81,000 | 102,931 | 214,447 | 398,378 |
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Fixed assets, included in the above, which are held under hire purchase contracts are as follows: |
Motor |
vehicles |
£ |
COST OR VALUATION |
At 1st May 2019 |
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Revaluations |
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At 30th April 2020 |
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DEPRECIATION |
At 1st May 2019 |
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Charge for year |
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At 30th April 2020 |
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NET BOOK VALUE |
At 30th April 2020 |
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At 30th April 2019 |
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5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
30.4.20 | 30.4.19 |
£ | £ |
Trade debtors |
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Amounts owed by connected company | - | 15,041 |
Directors' current accounts | 5,600 | 800 |
Prepayments and accrued income |
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UNIVERSAL PALLET SERVICES LIMITED (REGISTERED NUMBER: 01334669) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30TH APRIL 2020 |
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6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
30.4.20 | 30.4.19 |
£ | £ |
Hire purchase contracts |
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Trade creditors |
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Tax |
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Social security and other taxes |
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VAT | 16,413 | 25,866 |
Other creditors |
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Accrued expenses |
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7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
30.4.20 | 30.4.19 |
£ | £ |
Hire purchase contracts |
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8. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
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The following advances and credits to directors subsisted during the years ended 30th April 2020 and 30th April 2019: |
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30.4.20 | 30.4.19 |
£ | £ |
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Balance outstanding at start of year |
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Amounts advanced |
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Amounts repaid | ( |
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Amounts written off | - | - |
Amounts waived | - | - |
Balance outstanding at end of year |
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