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Registration number: 07520925

Polygon Communications Ltd

Annual Report and Unaudited Abridged Financial Statements

for the Year Ended 29 February 2024

 

Polygon Communications Ltd

Contents

Company Information

1

Abridged Balance Sheet

2 to 3

Notes to the Unaudited Abridged Financial Statements

4 to 5

 

Polygon Communications Ltd

Company Information

Directors

M Southern

S Wiltshire

Registered office

Suite 1B1 Argyle House
Northside
Joel Street
Northwood Hills
HA6 1NW

Accountants

Ross + Partners
Chartered Certified Accountants
Suite 1B1 Argyle House
Northside
Joel Street
Northwood Hills
HA6 1NW

 

Polygon Communications Ltd

(Registration number: 07520925)
Abridged Balance Sheet as at 29 February 2024

Note

2024
£

2023
£

Current assets

 

Debtors

40,165

96,881

Cash at bank and in hand

 

111,163

12,498

 

151,328

109,379

Creditors: Amounts falling due within one year

(126,105)

(81,885)

Total assets less current liabilities

 

25,223

27,494

Creditors: Amounts falling due after more than one year

(24,742)

(26,862)

Net assets

 

481

632

Capital and reserves

 

Called up share capital

100

100

Retained earnings

381

532

Shareholders' funds

 

481

632

For the financial year ending 29 February 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

All of the company’s members have consented to the preparation of an Abridged Profit and Loss Account and an Abridged Balance Sheet in accordance with Section 444(2A) of the Companies Act 2006.

 

Polygon Communications Ltd

(Registration number: 07520925)
Abridged Balance Sheet as at 29 February 2024

Approved and authorised by the Board on 28 November 2024 and signed on its behalf by:
 

.........................................
M Southern
Director

.........................................
S Wiltshire
Director

 

Polygon Communications Ltd

Notes to the Unaudited Abridged Financial Statements for the Year Ended 29 February 2024

1

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These abridged financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These abridged financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant and machinery

25% straight line

Fixtures and furnitures

25% straight line

 

Polygon Communications Ltd

Notes to the Unaudited Abridged Financial Statements for the Year Ended 29 February 2024

2

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2023 - 2).

3

Tangible assets

Fixtures and fittings
£

Plant and machinery
£

Total
£

Cost or valuation

At 1 March 2023

240

11,365

11,605

At 29 February 2024

240

11,365

11,605

Depreciation

At 1 March 2023

240

11,365

11,605

At 29 February 2024

240

11,365

11,605

Carrying amount

At 29 February 2024

-

-

-

4

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary of £1 each

100

100

100

100