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REGISTERED NUMBER: SC288742 (Scotland)















Polybox Limited

Unaudited Financial Statements for the Year Ended 31 December 2021






Polybox Limited (Registered number: SC288742)






Contents of the Financial Statements
for the Year Ended 31 December 2021




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Polybox Limited

Company Information
for the Year Ended 31 December 2021







Directors: C Gillespie
J R Thornberry
J D Macphail





Registered office: 1 Wardpark Road, Wardpark South,
Wardpark South,
Cumberland
North Lincolnshire
G67 3EX





Registered number: SC288742 (Scotland)






Polybox Limited (Registered number: SC288742)

Balance Sheet
31 December 2021

2021 2020
Notes £    £   
Fixed assets
Tangible assets 4 - 366,612

Current assets
Stocks - 227,727
Debtors 5 619,878 177,701
Cash at bank 80,592 284,579
700,470 690,007
Creditors
Amounts falling due within one year 6 (25,755 ) (379,650 )
Net current assets 674,715 310,357
Total assets less current liabilities 674,715 676,969

Provisions for liabilities 7 - (9,306 )
Net assets 674,715 667,663

Capital and reserves
Called up share capital 8 80,000 80,000
Revaluation reserve 9 - 255,597
Retained earnings 9 594,715 332,066
Shareholders' funds 674,715 667,663

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2021 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 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 4 July 2022 and were signed on its behalf by:





J R Thornberry - Director


Polybox Limited (Registered number: SC288742)

Notes to the Financial Statements
for the Year Ended 31 December 2021

1. Statutory information

Polybox Limited is a private company, limited by shares , registered in Scotland. 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 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.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

Going concern
On the 1 January 2021 the trade and assets of Polybox Limited were transferred to its parent, Moulded Foams Limited.

Once final settlement of liabilities due from the company have been made, it is the intention of the directors to wind down the company. Accordingly the directors have not prepared the financial statements on a going concern basis. No adjustments were necessary to the amounts at which the remaining net assets are included in these financial statement.

3. Employees and directors

The average number of employees during the year was NIL (2020 - 14 ).

Polybox Limited (Registered number: SC288742)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2021

4. Tangible fixed assets
Freehold Plant and Motor Computer
property machinery vehicles equipment Totals
£    £    £    £    £   
Cost
At 1 January 2021 275,000 163,173 8,713 6,623 453,509
Reclassification/transfer (275,000 ) (163,173 ) (8,713 ) (6,623 ) (453,509 )
At 31 December 2021 - - - - -
Depreciation
At 1 January 2021 - 72,966 8,713 5,218 86,897
Reclassification/transfer - (72,966 ) (8,713 ) (5,218 ) (86,897 )
At 31 December 2021 - - - - -
Net book value
At 31 December 2021 - - - - -
At 31 December 2020 275,000 90,207 - 1,405 366,612

5. Debtors
2021 2020
£    £   
Amounts falling due within one year:
Trade debtors 1,605 177,701

Amounts falling due after more than one year:
Amounts owed by group undertakings 618,273 -

Aggregate amounts 619,878 177,701

6. Creditors: amounts falling due within one year
2021 2020
£    £   
Hire purchase contracts - 2,217
Trade creditors - 244,960
Tax 25,755 25,755
VAT - 70,745
Other creditors - 35,973
25,755 379,650

7. Provisions for liabilities
2021 2020
£    £   
Deferred tax - 9,306

Deferred
tax
£   
Balance at 1 January 2021 9,306
Credit to Income Statement during year (9,306 )
Balance at 31 December 2021 -

Polybox Limited (Registered number: SC288742)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2021

8. Called up share capital


Allotted and issued:
Number: Class: Nominal 2021 2020
value: £    £   
80,000 Share capital 1 £1 80,000 80,000

9. Reserves
Retained Revaluation
earnings reserve Totals
£    £    £   

At 1 January 2021 332,066 255,597 587,663
Profit for the year 7,052 7,052
Revaluation reserve release 255,597 - 255,597
Revaluation - (255,597 ) (255,597 )
At 31 December 2021 594,715 - 594,715

All tangible fixed assets in the company have been transferred to its parent company, Moulded Foams Limited, as at 1 January 2021. The revaluation reserve relating to these assets has therefore been released to retained earnings.