POLYFAB COATINGS AND SYSTEMS LIMITED

Company Registration Number:
04800534 (England and Wales)

Unaudited abridged accounts for the year ended 30 June 2023

Period of accounts

Start date: 01 July 2022

End date: 30 June 2023

POLYFAB COATINGS AND SYSTEMS LIMITED

Contents of the Financial Statements

for the Period Ended 30 June 2023

Balance sheet
Notes

POLYFAB COATINGS AND SYSTEMS LIMITED

Balance sheet

As at 30 June 2023


Notes

2023

2022


£

£
Fixed assets
Intangible assets: 3 6,930 730
Tangible assets: 4 2,380,898 2,403,788
Total fixed assets: 2,387,828 2,404,518
Current assets
Stocks: 590,983 621,329
Debtors:   939,093 1,068,207
Cash at bank and in hand: 2,471,925 2,018,467
Total current assets: 4,002,001 3,708,003
Creditors: amounts falling due within one year:   (1,045,101) (1,035,295)
Net current assets (liabilities): 2,956,900 2,672,708
Total assets less current liabilities: 5,344,728 5,077,226
Creditors: amounts falling due after more than one year:   (76,657) (73,775)
Total net assets (liabilities): 5,268,071 5,003,451
Capital and reserves
Called up share capital: 105 105
Revaluation reserve:5228,131228,131
Profit and loss account: 5,039,835 4,775,215
Shareholders funds: 5,268,071 5,003,451

The notes form part of these financial statements

POLYFAB COATINGS AND SYSTEMS LIMITED

Balance sheet statements

For the year ending 30 June 2023 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 05 September 2023
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 2023

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 is measured at the fair value of the consideration received/receivable for goods supplied and services rendered, net of discounts and VAT

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-33.33%

Intangible fixed assets and amortisation policy

Patents,trademarks and licences-10% straight line basis

Valuation and information policy

Stocks are valued at the lower of cost or net realisable value,allowing for slow moving or obsolete items,net of VAT

POLYFAB COATINGS AND SYSTEMS LIMITED

Notes to the Financial Statements

for the Period Ended 30 June 2023

2. Employees

2023 2022
Average number of employees during the period 34 33

POLYFAB COATINGS AND SYSTEMS LIMITED

Notes to the Financial Statements

for the Period Ended 30 June 2023

3. Intangible Assets

Total
Cost £
At 01 July 2022 14,406
Additions 8,490
At 30 June 2023 22,896
Amortisation
At 01 July 2022 13,676
Charge for year 2,290
At 30 June 2023 15,966
Net book value
At 30 June 2023 6,930
At 30 June 2022 730

POLYFAB COATINGS AND SYSTEMS LIMITED

Notes to the Financial Statements

for the Period Ended 30 June 2023

4. Tangible Assets

Total
Cost £
At 01 July 2022 3,332,022
Additions 65,629
At 30 June 2023 3,397,651
Depreciation
At 01 July 2022 928,234
Charge for year 88,519
At 30 June 2023 1,016,753
Net book value
At 30 June 2023 2,380,898
At 30 June 2022 2,403,788

POLYFAB COATINGS AND SYSTEMS LIMITED

Notes to the Financial Statements

for the Period Ended 30 June 2023

5. Revaluation reserve

2023
£
Balance at 01 July 2022 228,131
Surplus or deficit after revaluation 0
Balance at 30 June 2023 228,131

POLYFAB COATINGS AND SYSTEMS LIMITED

Notes to the Financial Statements

for the Period Ended 30 June 2023

6. Loans to directors

Monies owed by Company to directors:-N Mullarkey-£6454MS Tickle-£5386Monies owed by directors to Compny:-J Mullarkey-£72Mrs K Mullarkey-£4846