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REGISTERED NUMBER: 03760565 (England and Wales)












POLYGON COL-MAR LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 APRIL 2024






POLYGON COL-MAR LIMITED (REGISTERED NUMBER: 03760565)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


POLYGON COL-MAR LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 APRIL 2024







DIRECTOR: B Martin



SECRETARY: Mrs S J Martin



REGISTERED OFFICE: Highland House
Mayflower Close
Chandlers Ford
Eastleigh
Hampshire
SO53 4AR



REGISTERED NUMBER: 03760565 (England and Wales)



BANKERS: The Co-operative Bank
P.O. Box 250
Delf House
Southway
Skelmersdale
WN8 6WT

POLYGON COL-MAR LIMITED (REGISTERED NUMBER: 03760565)

BALANCE SHEET
30 APRIL 2024

2024 2023
Notes £ £
FIXED ASSETS
Tangible assets 4 158 235
Investment property 5 249,702 278,600
249,860 278,835

CURRENT ASSETS
Debtors 6 273 64
Cash at bank 2,816 7,819
3,089 7,883
CREDITORS
Amounts falling due within one year 7 (7,907 ) (14,177 )
NET CURRENT LIABILITIES (4,818 ) (6,294 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

245,042

272,541

CREDITORS
Amounts falling due after more than one
year

8

(163,000

)

(163,000

)

PROVISIONS FOR LIABILITIES (17,691 ) (24,934 )
NET ASSETS 64,351 84,607

CAPITAL AND RESERVES
Called up share capital 99 99
Non distributable reserves 55,209 76,883
Retained earnings 9,043 7,625
SHAREHOLDERS' FUNDS 64,351 84,607

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

POLYGON COL-MAR LIMITED (REGISTERED NUMBER: 03760565)

BALANCE SHEET - continued
30 APRIL 2024


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 director and authorised for issue on 28 October 2024 and were signed by:





B Martin - Director


POLYGON COL-MAR LIMITED (REGISTERED NUMBER: 03760565)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024


1. STATUTORY INFORMATION

Polygon Col-Mar 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.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with FRS 102 "The Financial Reporting Standards applicable in the UK and Republic of Ireland" ("FRS 102") and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies' regime.

The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £1.

The financial statements have been prepared under the historical cost convention, modified to include certain financial instruments at fair value. The principal accounting policies adopted are set out below.

Turnover
Turnover represents the total amount receivable by the company in the ordinary course of business, from management, rental and development of properties.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Office equipment - 15% Reducing balance
Furnishings and equipment - 33% Reducing balance
Computer equipment - 33% Reducing balance

Investment property
Investment property is shown at the most recent valuation. Any aggregates 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.

POLYGON COL-MAR LIMITED (REGISTERED NUMBER: 03760565)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024


2. ACCOUNTING POLICIES - continued

Financial assets
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments.

Financial assets are recognised in the company's statement of financial position when the company becomes party to the contractual provisions of the instrument.

Basic financial assets, which include trade and other receivables and cash and bank balances are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method, unless the arrangement constitutes a financial transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Financial liabilities
Basic financial liabilities, which include trade and other payables, are initially measured at transaction price and subsequently measured at amortised cost, unless the arrangement constitutes a financing transaction where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest.

Equity instruments
Equity instruments issued by the company are recorded at the fair value of the proceeds received net of direct issue costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2023 - NIL).

4. TANGIBLE FIXED ASSETS
Furnishings
Office and Computer
equipment equipment equipment Totals
£ £ £ £
COST
At 1 May 2023
and 30 April 2024 734 3,821 6,089 10,644
DEPRECIATION
At 1 May 2023 734 3,821 5,854 10,409
Charge for year - - 77 77
At 30 April 2024 734 3,821 5,931 10,486
NET BOOK VALUE
At 30 April 2024 - - 158 158
At 30 April 2023 - - 235 235

POLYGON COL-MAR LIMITED (REGISTERED NUMBER: 03760565)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024


5. INVESTMENT PROPERTY
Total
£
FAIR VALUE
At 1 May 2023 278,600
Revaluations (28,898 )
At 30 April 2024 249,702
NET BOOK VALUE
At 30 April 2024 249,702
At 30 April 2023 278,600

Fair value at 30 April 2024 is represented by:
£
Valuation in 2011 104,159
Valuation in 2014 29,000
Valuation in 2015 12,000
Valuation in 2017 10,000
Valuation in 2018 13,000
Valuation in 2019 6,875
Valuation in 2021 5,638
Valuation in 2022 5,750
Valuation in 2023 (14,663 )
Valuation in 2024 (28,898 )
Cost 106,841
249,702

If investment properties had not been revalued they would have been included at the following historical cost:

2024 2023
£ £
Cost 106,841 106,841

Investment property was valued on an open market basis on 30 April 2024 by the director .

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£ £
Other debtors 273 64

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£ £
Taxation and social security 346 481
Other creditors 7,561 13,696
7,907 14,177

POLYGON COL-MAR LIMITED (REGISTERED NUMBER: 03760565)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024


8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£ £
Other creditors 163,000 163,000

9. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£ £
Mortgage loans 163,000 163,000

The mortgage loan is secured against the property to which it relates.