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REGISTERED NUMBER: 05709250 (England and Wales)















Unaudited Financial Statements for the Year Ended 28 February 2023

for

Polydesign Limited

Polydesign Limited (Registered number: 05709250)






Contents of the Financial Statements
for the Year Ended 28 February 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Polydesign Limited

Company Information
for the Year Ended 28 February 2023







DIRECTORS: K M Beaman
Mrs H Klarr





SECRETARY: K M Beaman





REGISTERED OFFICE: Unit 7 Wallows Ind. Estate
Fenns Avenue
Brierley Hill
West Midlands
DY5 1QA





REGISTERED NUMBER: 05709250 (England and Wales)





ACCOUNTANTS: Pride Accountants
Polymer Court
Hope Street
Dudley
West Midlands
DY2 8RS

Polydesign Limited (Registered number: 05709250)

Balance Sheet
28 February 2023

28.2.23 28.2.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 13,874 185

CURRENT ASSETS
Stocks 5,508 3,203
Debtors 5 58,164 110,506
Cash at bank 101,484 79,287
165,156 192,996
CREDITORS
Amounts falling due within one year 6 90,522 107,869
NET CURRENT ASSETS 74,634 85,127
TOTAL ASSETS LESS CURRENT
LIABILITIES

88,508

85,312

PROVISIONS FOR LIABILITIES 7 2,636 35
NET ASSETS 85,872 85,277

CAPITAL AND RESERVES
Called up share capital 8 60 60
Retained earnings 85,812 85,217
SHAREHOLDERS' FUNDS 85,872 85,277

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 2023 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.

Polydesign Limited (Registered number: 05709250)

Balance Sheet - continued
28 February 2023


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 14 November 2023 and were signed on its behalf by:




K M Beaman - Director



Mrs H Klarr - Director


Polydesign Limited (Registered number: 05709250)

Notes to the Financial Statements
for the Year Ended 28 February 2023

1. STATUTORY INFORMATION

Polydesign Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

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

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 25% on reducing balance
Office equipment - 33% on reducing balance

Government grants
Government grants are recognised at their fair value received or receivable. Grants are not recognised until there is reasonable assurance that the company will comply with the conditions attaching to them and that the grants will be received.

Government grants are recognised using the accruals model and where relating to revenue are recognised on a systematic basis over the periods in which the company recognises the related cost for which the grant is intended to compensate. Grants including business rates relief funding and JRS furlough grants, that are receivable as compensation for expenses or losses already incurred or for the purpose of giving immediate financial support to the company with no future related costs, are recognised as income for the period in which they become receivable.

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.


Polydesign Limited (Registered number: 05709250)

Notes to the Financial Statements - continued
for the Year Ended 28 February 2023

2. ACCOUNTING POLICIES - continued
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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2022 - 3 ) .

4. TANGIBLE FIXED ASSETS
Plant and Office
machinery equipment Totals
£    £    £   
COST
At 1 March 2022 - 942 942
Additions 18,333 - 18,333
At 28 February 2023 18,333 942 19,275
DEPRECIATION
At 1 March 2022 - 757 757
Charge for year 4,583 61 4,644
At 28 February 2023 4,583 818 5,401
NET BOOK VALUE
At 28 February 2023 13,750 124 13,874
At 28 February 2022 - 185 185

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
28.2.23 28.2.22
£    £   
Trade debtors 56,675 108,824
Other debtors 1,489 1,682
58,164 110,506

Polydesign Limited (Registered number: 05709250)

Notes to the Financial Statements - continued
for the Year Ended 28 February 2023

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
28.2.23 28.2.22
£    £   
Taxation and social security 21,479 45,718
Other creditors 69,043 62,151
90,522 107,869

7. PROVISIONS FOR LIABILITIES
28.2.23 28.2.22
£    £   
Deferred tax 2,636 35

Deferred
tax
£   
Balance at 1 March 2022 35
Provided during year 2,601
Balance at 28 February 2023 2,636

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 28.2.23 28.2.22
value: £    £   
60 Ordinary £1 60 60

9. ULTIMATE CONTROLLING PARTY

The company is under the control of its directors Mrs H K Klarr and Mr K Beaman as they own all of the issued share capital equally.