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REGISTERED NUMBER: 09944519 (England and Wales)














Unaudited Financial Statements

for the Year Ended 31 October 2023

for

POLYURETHANE PRODUCTS LTD

POLYURETHANE PRODUCTS LTD (REGISTERED NUMBER: 09944519)






Contents of the Financial Statements
for the Year Ended 31 October 2023




Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4

Accountants' Report 7

POLYURETHANE PRODUCTS LTD

Company Information
for the Year Ended 31 October 2023







Directors: P K Boddy
P A R Stanyon





Registered office: Unit 4 Colburn Business Park
Catterick Road
Catterick Garrison
North Yorkshire
DL9 4QJ





Registered number: 09944519 (England and Wales)





Accountants: Mitchell Gordon LLP
43 Coniscliffe Road
Darlington
Co. Durham
DL3 7EH

POLYURETHANE PRODUCTS LTD (REGISTERED NUMBER: 09944519)

Abridged Balance Sheet
31 October 2023

31/10/23 31/10/22
Notes £    £    £    £   
Fixed assets
Tangible assets 4 - 5,228
Investments 5 - 1
Investment property 6 325,000 325,000
325,000 330,229

Current assets
Debtors - 4,807
Cash at bank and in hand 7,739 6,156
7,739 10,963
Creditors
Amounts falling due within one year 20,560 28,877
Net current liabilities (12,821 ) (17,914 )
Total assets less current liabilities 312,179 312,315

Creditors
Amounts falling due after more than one
year

7

(178,172

)

(180,349

)

Provisions for liabilities (13,058 ) (12,604 )
Net assets 120,949 119,362

Capital and reserves
Called up share capital 100 100
Non-distributable reserve 9 57,939 57,939
Retained earnings 62,910 61,323
120,949 119,362

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 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.

POLYURETHANE PRODUCTS LTD (REGISTERED NUMBER: 09944519)

Abridged Balance Sheet - continued
31 October 2023


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

All the members have consented to the preparation of an abridged Income Statement and an abridged Balance Sheet for the year ended 31 October 2023 in accordance with Section 444(2A) of the Companies Act 2006.

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 21 February 2024 and were signed on its behalf by:





P K Boddy - Director


POLYURETHANE PRODUCTS LTD (REGISTERED NUMBER: 09944519)

Notes to the Financial Statements
for the Year Ended 31 October 2023

1. STATUTORY INFORMATION

Polyurethane Products Ltd 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 as modified by the revaluation of certain assets.

The financial statements have been prepared on the going concern basis of preparation.

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 cost
Computer equipment - 33% on cost

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 2 ) .

POLYURETHANE PRODUCTS LTD (REGISTERED NUMBER: 09944519)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2023

4. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 November 2022 20,350
Disposals (19,228 )
At 31 October 2023 1,122
DEPRECIATION
At 1 November 2022 15,122
Charge for year 3,711
Eliminated on disposal (17,711 )
At 31 October 2023 1,122
NET BOOK VALUE
At 31 October 2023 -
At 31 October 2022 5,228

5. FIXED ASSET INVESTMENTS

Information on investments other than loans is as follows:
Totals
£   
COST
At 1 November 2022 1
Disposals (1 )
At 31 October 2023 -
NET BOOK VALUE
At 31 October 2023 -
At 31 October 2022 1

6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 November 2022
and 31 October 2023 325,000
NET BOOK VALUE
At 31 October 2023 325,000
At 31 October 2022 325,000

Fair value at 31 October 2023 is represented by:
£   
Valuation in 2019 71,530
Cost 253,470
325,000

POLYURETHANE PRODUCTS LTD (REGISTERED NUMBER: 09944519)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2023

6. INVESTMENT PROPERTY - continued

The investment property was valued by Connect Property North East on 28 November 2019.

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN FIVE
YEARS
31/10/23 31/10/22
£    £   
Repayable by instalments
Bank loans 147,092 126,225

8. SECURED DEBTS

The following secured debts are included within creditors:

31/10/23 31/10/22
£    £   
Bank loans 185,612 193,796

The debt is secured by a fixed and floating charge over the property held within the company.

9. RESERVES
Non-distributable
reserve
£   
At 1 November 2022
and 31 October 2023 57,939

10. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 October 2023 and 31 October 2022:

31/10/23 31/10/22
£    £   
P A R Stanyon
Balance outstanding at start of year - -
Amounts advanced 3,416 -
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 3,416 -

The above balances are interest free and repayable on demand.

Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
Polyurethane Products Ltd

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Abridged Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Polyurethane Products Ltd for the year ended 31 October 2023 which comprise the Abridged Income Statement, Abridged Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/rulebook.

This report is made solely to the Board of Directors of Polyurethane Products Ltd, as a body, in accordance with the terms of our engagement letter dated 6 December 2022. Our work has been undertaken solely to prepare for your approval the financial statements of Polyurethane Products Ltd and state those matters that we have agreed to state to the Board of Directors of Polyurethane Products Ltd, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/factsheet163. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Polyurethane Products Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Polyurethane Products Ltd. You consider that Polyurethane Products Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Polyurethane Products Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Mitchell Gordon LLP
43 Coniscliffe Road
Darlington
Co. Durham
DL3 7EH


21 February 2024