PALLETFORCE LIMITED
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Cash
£4.2M
-31.1% vs 2023
Net assets
£31M
+31.8% vs 2023
Employees
197
+9.4% vs 2023
Profit before tax
£11M
+98.3% vs 2023
Watch the reel
Our short-form breakdown of PALLETFORCE LIMITED's latest filing
Palletforce delivers steady growth with £173m revenue, as lower taxes boost the bottom line. 📦🚛
Net assets
2-year trend · vs Industrials median
Accounts
2-year trend · Δ = latest vs prior filed period · latest reflected 2024-12-31
| Metric | Trend | 2023-12-31 | 2024-12-31 | Δ vs prior |
|---|---|---|---|---|
| Turnover | £149,907,000 | £164,932,000 | +10% | |
| Operating profit | £5,252,000 | £9,156,000 | +74.3% | |
| Profit before tax | £5,309,000 | £10,527,000 | +98.3% | |
| Net profit | £4,156,000 | £7,577,000 | +82.3% | |
| Cash | £6,138,000 | £4,230,000 | -31.1% | |
| Total assets less current liabilities | £24,258,000 | £31,853,000 | +31.3% | |
| Net assets | £23,818,000 | £31,395,000 | +31.8% | |
| Equity | £23,818,000 | £31,395,000 | +31.8% | |
| Average employees | 180 | 197 | +9.4% | |
| Wages | £6,891,000 | £8,045,000 | +16.7% | |
| Directors' remuneration | £1,056,000 | £1,030,000 | -2.5% |
Values shown as filed in the company's annual accounts. — indicates the figure wasn't present under that line item in that period. The Δ column is the change from the prior filed period as a percentage of |prior|; lines a company doesn't report show —. About these numbers
Ratios
Computed from the line items above — sparklines read oldest → newest
| Ratio | Trend | 2023-12-31 | 2024-12-31 |
|---|---|---|---|
| Operating margin | 3.5% | 5.6% | |
| Net margin | 2.8% | 4.6% | |
| Return on capital employed | 21.7% | 28.7% | |
| Current ratio | 1.53x | 1.72x | |
| Interest cover | 17.05x | — |
Margins divide P&L lines by turnover. Gearing is liabilities over total assets. Current ratio is current assets over creditors falling due within one year. Interest cover is operating profit over absolute finance costs. Sector-distribution context coming next.
Name history
Renamed 2 times since incorporation
- PALLETFORCE LIMITED 2015-10-13 → present
- PALLETFORCE PLC 2000-12-21 → 2015-10-13
- SEVCO 1208 PLC 2000-10-11 → 2000-12-21
Audit & accounting basis
- Accounting basis
- FRS 102
- Reporting scope
- Standalone (parent only)
- Auditor
- Cooper Parry Group Limited
- Audit opinion
- Unqualified (clean)
- Going concern
- Affirmed
“In considering the going concern assessment, the Board has undertaken a rigorous assessment of going concern assumptions using the base case financial forecasts and a severe but plausible downside scenario covering the 12 months from the date of signing these financial statements. The base case projections prepared for the going concern assessment are derived from the actual and budgeted volume activity for the 2024 and 2025 calendar years, extended to encompass a period of assessment for 12 months from the date of signing these financial statements. Downside scenario sensitivity tests incorporated into the Group's modelling include a drop in average selling prices and volumes, resulting in lower revenues, operating profit margins and free cashflow due to reduced customer activity and a macro-economic recession. The Board incorporated assessment of Group debt arrangements, banking covenants and projected headroom into its scenario analysis. Management and the Board are confident that the business will continue to generate sufficient cash flows from their operations to meet future obligations as they fall due, as well as the Group's ability to secure equivalent financing from its lenders or via the continued support of the shareholders. Based on these assessments and the performance of the Group through to the date of signing these financial statements, the directors believe that it remains appropriate to prepare the financial statements on a going concern basis.”
Group structure
- PALLETFORCE LIMITED · parent
- Ovimore Limited 100%
- Palletforce Logistics Sussex Limited 100%
- Palletforce Logistics Kent and Berkshire Limited 100%
Significant events
- “The road freight market in the UK saw a fragile recovery compared to the low points of 2023 as consumer confidence grew and economic conditions improved particularly in the second half of the year.”
- “In recognition of its strong commitment to safety, in 2024 Palletforce received its 16th Gold RoSPA award in recognition of the excellent health and safety culture embedded throughout the business.”
Auditor, going-concern and subsidiary information is drawn from the narrative of the latest annual accounts. About these numbers
People
7 active · 32 resigned
| Name | Role | Appointed | Born | Nationality |
|---|---|---|---|---|
| DAVIS, Mark | Secretary | 2019-05-01 | — | — |
| BREEZE, David Ian | Director | 2017-07-19 | Feb 1963 | British |
| HOLLAND, David | Director | 2008-11-04 | Jan 1971 | British |
| HUGHES, Dean John | Director | 2009-02-09 | Jun 1974 | British |
| PEARSON, Simon Richard | Director | 2015-10-05 | Nov 1967 | British |
| TAPPER, Mark William | Director | 2017-02-28 | Nov 1965 | British |
| ZARIN, Heath Brian | Director | 2015-10-05 | Dec 1975 | Kittitian |
Show 32 resigned officers
| Name | Role | Appointed | Resigned |
|---|---|---|---|
| CARPENTER, Neil Andrew | Secretary | 2010-08-31 | 2019-05-01 |
| BIRKETTS SECRETARIES LIMITED | Corporate Secretary | 2004-11-02 | 2010-08-31 |
| EVERSECRETARY (NO 2) LIMITED | Corporate Secretary | 2002-01-23 | 2004-11-02 |
| SEVERNSIDE SECRETARIAL LIMITED | Corporate Nominee Secretary | 2000-10-11 | 2000-11-27 |
| THE PARTNERS IN THE FIRM OF EVERSHEDS (EAST OF ENGLAND) | Corporate Secretary | 2000-11-27 | 2002-01-23 |
| BACK, Steve John | Director | 2019-02-02 | 2022-12-06 |
| BROTHERTON, John | Director | 2009-01-02 | 2015-10-05 |
| CARPENTER, Neil Andrew | Director | 2001-07-25 | 2019-05-01 |
| CONROY, Michael | Director | 2008-04-14 | 2021-10-14 |
| COOKE, Alan | Director | 2007-09-10 | 2007-12-21 |
| HAMILL, John | Director | 2014-10-01 | 2017-02-28 |
| LEONARD, Adam Randal | Director | 2020-07-30 | 2022-03-14 |
| MCAULAY, Iain Davidson | Director | 2005-09-19 | 2009-01-02 |
| MCFARLANE, David | Director | 2001-08-28 | 2002-06-11 |
| MOH, Chuang Hue | Director | 2015-10-05 | 2020-04-28 |
| SCARLETT, Michael Ian | Director | 2009-02-05 | 2010-11-22 |
| SCARLETT, Michael Ian | Director | 2000-11-27 | 2007-08-31 |
| SMITH, Richard Mark | Director | 2000-11-27 | 2003-07-31 |
| TABOR, Mark Jeremy | Director | 2017-12-01 | 2019-10-01 |
| WORGAN, Carl Malcolm John | Director | 2004-03-02 | 2014-04-07 |
| 7SIDE SECRETARIAL LIMITED | Corporate Director | 2000-10-11 | 2000-11-27 |
| BEDFORDS LIMITED | Corporate Director | 2011-01-13 | 2015-10-05 |
| BEDFORDS LTD | Corporate Director | 2001-10-28 | 2008-01-24 |
| EDWIN C FARRALL (TRANSPORT) LIMITED | Corporate Director | 2008-01-24 | 2015-10-05 |
| HARGRAVE FARMING LIMITED | Corporate Director | 2016-01-01 | 2018-05-18 |
| LOGISTIC MANAGEMENT SERVICES LTD | Corporate Director | 2001-10-28 | 2007-01-25 |
| PASS J HOLDINGS LIMITED | Corporate Director | 2007-02-14 | 2015-10-05 |
| R G BASSETT & SONS LTD | Corporate Director | 2002-06-26 | 2010-01-07 |
| REDHEAD FREIGHT LIMITED | Corporate Director | 2002-04-30 | 2015-10-05 |
| SEVERNSIDE NOMINEES LIMITED | Corporate Nominee Director | 2000-10-11 | 2000-11-27 |
| TRANSACTION INTERNATIONAL LIMITED | Corporate Director | 2008-01-24 | 2015-01-15 |
| WM ARMSTRONG (LONGTOWN) LIMITED | Corporate Director | 2015-01-15 | 2015-10-05 |
Ownership
Persons with significant control
| Name | Kind | Nature of control | Notified | Status |
|---|---|---|---|---|
| Palletforce Intermediate Limited | Corporate entity | Shares 75–100%, Voting 75–100%, Appoints directors | 2016-04-06 | Active |
Filing timeline
Last 20 of 272 total filings
| Date | Type | Category | Description | |
|---|---|---|---|---|
| 2025-09-26 | AA01 | accounts | Change account reference date company previous extended | |
| 2025-09-15 | AA | accounts | Accounts with accounts type full | |
| 2025-09-10 | CS01 | confirmation-statement | Confirmation statement with updates | |
| 2025-04-22 | CH01 | officers | Change person director company with change date | |
| 2025-04-22 | CH01 | officers | Change person director company with change date | |
| 2025-03-19 | AA | accounts | Accounts with accounts type full | |
| 2025-02-14 | PSC05 | persons-with-significant-control | Change to a person with significant control | |
| 2024-12-18 | AA01 | accounts | Change account reference date company previous shortened | |
| 2024-12-17 | MR01 | mortgage | Mortgage create with deed with charge number charge creation date | |
| 2024-10-07 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2024-09-23 | AA01 | accounts | Change account reference date company previous shortened | |
| 2024-02-06 | AA | accounts | Accounts with accounts type full | |
| 2023-12-27 | MR01 | mortgage | Mortgage create with deed with charge number charge creation date | |
| 2023-12-18 | AA01 | accounts | Change account reference date company previous shortened | |
| 2023-09-26 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2023-09-22 | AA01 | accounts | Change account reference date company previous shortened | |
| 2022-12-20 | TM01 | officers | Termination director company with name termination date | |
| 2022-10-06 | AA | accounts | Accounts with accounts type full | |
| 2022-09-13 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2022-03-25 | TM01 | officers | Termination director company with name termination date |
Public-record activity
Raw counts from Companies House — last 12–24 months
- Filings
- 3
- Capital events
- 0
- Officers appointed
- 0
- Officers resigned
- 0
last 12 months
last 24 months
last 12 months
last 12 months
Direct counts from the register. No score, no rating — see the Filing timeline for the underlying events.