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Company Registration No. 11702305 (England and Wales)
Polydentic Ltd Filleted unaudited accounts for the year ended 30 November 2021
Polydentic Ltd Filleted unaudited accounts Contents
Page
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Polydentic Ltd Statement of financial position as at 30 November 2021
2021 
2020 
Notes
£ 
£ 
Fixed assets
Tangible assets
382 
575 
Current assets
Inventories
13,164 
15,788 
Debtors
348 
1,971 
Cash at bank and in hand
741 
4,573 
14,253 
22,332 
Creditors: amounts falling due within one year
(20,440)
(13,064)
Net current (liabilities)/assets
(6,187)
9,268 
Total assets less current liabilities
(5,805)
9,843 
Creditors: amounts falling due after more than one year
(8,750)
(8,833)
Net (liabilities)/assets
(14,555)
1,010 
Capital and reserves
Called up share capital
100 
100 
Profit and loss account
(14,655)
910 
Shareholders' funds
(14,555)
1,010 
For the year ending 30 November 2021 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 24 August 2022 and were signed on its behalf by
Ahmed Kalil Theyab Director Company Registration No. 11702305
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Polydentic Ltd Notes to the Accounts for the year ended 30 November 2021
1
Statutory information
Polydentic Ltd is a private company, limited by shares, registered in England and Wales, registration number 11702305. The registered office is 20 Fir Grove, New Malden, Surrey, KT3 6RH, United Kingdom.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention.
Presentation currency
The accounts are presented in £ sterling.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates and value added tax. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them.
Government grants
Government grants are recognised using the accrual model. Under the accrual model, government grants relating to revenue are recognised on a systematic basis over the periods in which the company recognises the related costs for which the grant is intended to compensate. Grants that are receivable as compensation for expenses or losses already incurred or for the purpose of giving immediate financial support to the entity with no future related costs are recognised in income in the period in which it becomes receivable.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
- 20% straight line
Inventories
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell.
Foreign exchange
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rates of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
Financial instruments
The Company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors. Basic financial instruments are recognised at amortised cost, with changes recognised in profit or loss.
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Polydentic Ltd Notes to the Accounts for the year ended 30 November 2021
Debtors
Basic financial assets, including trade and other debtors, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Such assets are subsequently carried at amortised cost using the effective interest method, less any impairment.
Cash and cash equivalents
Cash and cash equivalents are represented by cash in hand, deposits held at call with financial institutions, and other short-term highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.
Creditors
Basic financial liabilities, including trade and other creditors are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Such instruments are subsequently carried at amortised cost using the effective interest method, less any impairment.
4
Tangible fixed assets
Plant & machinery 
£ 
Cost or valuation
At cost 
At 1 December 2020
961 
At 30 November 2021
961 
Depreciation
At 1 December 2020
386 
Charge for the year
193 
At 30 November 2021
579 
Net book value
At 30 November 2021
382 
At 30 November 2020
575 
5
Debtors: amounts falling due within one year
2021 
2020 
£ 
£ 
Trade debtors
348 
1,971 
6
Creditors: amounts falling due within one year
2021 
2020 
£ 
£ 
Bank loans and overdrafts
2,500 
2,198 
VAT
1,192 
395 
Trade creditors
1,385 
1,096 
Taxes and social security
- 
82 
Loans from directors
14,063 
8,643 
Accruals
1,300 
650 
20,440 
13,064 
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Polydentic Ltd Notes to the Accounts for the year ended 30 November 2021
7
Creditors: amounts falling due after more than one year
2021 
2020 
£ 
£ 
Bank loans
8,750 
8,833 
Aggregate of amounts that fall due for payment after five years
- 
1,000 
Included in creditors amounts falling due after more than one year is the Bounce Back Loan of £8,750 (2020: £8,833). The loan is 100% guaranteed by the government and the interest rate is fixed at 2.5% per annum.
8
Share capital
2021 
2020 
£ 
£ 
Allotted, called up and fully paid:
100 Ordinary shares of £1 each
100 
100 
9
Transactions with related parties
Included within creditors due within one year is a loan of £14,063 (2020: £8,643) from the director. This loan is interest-free and has no fixed repayment term.
10
Average number of employees
During the year the average number of employees was 1 (2020: 1).
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