POLYFAB COATINGS AND SYSTEMS LIMITED

Company Registration Number:
04800534 (England and Wales)

Unaudited abridged accounts for the year ended 30 June 2022

Period of accounts

Start date: 01 July 2021

End date: 30 June 2022

POLYFAB COATINGS AND SYSTEMS LIMITED

Contents of the Financial Statements

for the Period Ended 30 June 2022

Balance sheet
Notes

POLYFAB COATINGS AND SYSTEMS LIMITED

Balance sheet

As at 30 June 2022


Notes

2022

2021


£

£
Fixed assets
Intangible assets: 3 730 2,021
Tangible assets: 4 2,403,788 2,119,434
Total fixed assets: 2,404,518 2,121,455
Current assets
Stocks: 621,329 478,793
Debtors:   1,068,207 960,700
Cash at bank and in hand: 2,018,467 1,568,211
Total current assets: 3,708,003 3,007,704
Creditors: amounts falling due within one year:   (1,035,295) (899,647)
Net current assets (liabilities): 2,672,708 2,108,057
Total assets less current liabilities: 5,077,226 4,229,512
Provision for liabilities: (73,775) (41,987)
Total net assets (liabilities): 5,003,451 4,187,525
Capital and reserves
Called up share capital: 105 105
Revaluation reserve:5228,131228,131
Profit and loss account: 4,775,215 3,959,289
Shareholders funds: 5,003,451 4,187,525

The notes form part of these financial statements

POLYFAB COATINGS AND SYSTEMS LIMITED

Balance sheet statements

For the year ending 30 June 2022 the company was entitled to exemption 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 directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A).

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The directors have chosen to not file a copy of the company’s profit & loss account.

This report was approved by the board of directors on 23 September 2022
and signed on behalf of the board by:

Name: MR N MULLARKEY
Status: Director

The notes form part of these financial statements

POLYFAB COATINGS AND SYSTEMS LIMITED

Notes to the Financial Statements

for the Period Ended 30 June 2022

1. Accounting policies

These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

Turnover policy

Turnover represents amounts receivable net of VATand trde discounts

Tangible fixed assets and depreciation policy

Freehold Property-0% straight line basisPlant and Machinery-15% reducing balance basisFixtures/fittings and equipment-15% reducing balance basisMotor vehicles-25% reducing balance basisComputer equipment-25% reducing balance basis

Intangible fixed assets and amortisation policy

Patents,trademarks and licences-10& on straight line basis

Valuation and information policy

Stocks valued at the lower of cost or net realisable value,allowing for slow moving or obsolete items net of VATCost includes all direct expenditure and overheads

POLYFAB COATINGS AND SYSTEMS LIMITED

Notes to the Financial Statements

for the Period Ended 30 June 2022

2. Employees

2022 2021
Average number of employees during the period 33 36

POLYFAB COATINGS AND SYSTEMS LIMITED

Notes to the Financial Statements

for the Period Ended 30 June 2022

3. Intangible Assets

Total
Cost £
At 01 July 2021 14,256
Additions 150
At 30 June 2022 14,406
Amortisation
At 01 July 2021 12,235
Charge for year 1,441
At 30 June 2022 13,676
Net book value
At 30 June 2022 730
At 30 June 2021 2,021

POLYFAB COATINGS AND SYSTEMS LIMITED

Notes to the Financial Statements

for the Period Ended 30 June 2022

4. Tangible Assets

Total
Cost £
At 01 July 2021 2,953,456
Additions 378,566
At 30 June 2022 3,332,022
Depreciation
At 01 July 2021 834,022
Charge for year 94,212
At 30 June 2022 928,234
Net book value
At 30 June 2022 2,403,788
At 30 June 2021 2,119,434

POLYFAB COATINGS AND SYSTEMS LIMITED

Notes to the Financial Statements

for the Period Ended 30 June 2022

5. Revaluation reserve

2022
£
Balance at 01 July 2021 228,131
Surplus or deficit after revaluation 0
Balance at 30 June 2022 228,131

POLYFAB COATINGS AND SYSTEMS LIMITED

Notes to the Financial Statements

for the Period Ended 30 June 2022

6. Loans to directors

Monies owed by directors to Company:-N Mullarkey-£2657MS Tickle-£4115Mrs K Mullarkey-£9727Monies owed by Company to director:-Mr J Mullarkey-£145