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REGISTERED NUMBER: 10436246 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2024

FOR

POLY SOLUTIONS UK LTD

POLY SOLUTIONS UK LTD (REGISTERED NUMBER: 10436246)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024




Page

Balance Sheet 1

Notes to the Financial Statements 3


POLY SOLUTIONS UK LTD (REGISTERED NUMBER: 10436246)

BALANCE SHEET
31 OCTOBER 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 3,000 3,500
Tangible assets 5 69,088 34,493
72,088 37,993

CURRENT ASSETS
Stocks 26,742 19,352
Debtors 6 510,277 283,569
Cash at bank 29,339 -
566,358 302,921
CREDITORS
Amounts falling due within one year 7 439,360 244,025
NET CURRENT ASSETS 126,998 58,896
TOTAL ASSETS LESS CURRENT
LIABILITIES

199,086

96,889

CREDITORS
Amounts falling due after more than one year 8 (32,932 ) (38,904 )

PROVISIONS FOR LIABILITIES (16,023 ) -
NET ASSETS 150,131 57,985

CAPITAL AND RESERVES
Called up share capital 10 30,300 30,300
Retained earnings 119,831 27,685
SHAREHOLDERS' FUNDS 150,131 57,985

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2024 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.

POLY SOLUTIONS UK LTD (REGISTERED NUMBER: 10436246)

BALANCE SHEET - continued
31 OCTOBER 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 7 January 2025 and were signed on its behalf by:





Mr J Shipley - Director


POLY SOLUTIONS UK LTD (REGISTERED NUMBER: 10436246)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024

1. STATUTORY INFORMATION

Poly Solutions Uk Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 10436246

Registered office: Unit 2c Sapphire Way
Rhombus Business Park
Norwich
Norfolk
NR6 6NN

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.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2021, is being amortised evenly over its estimated useful life of ten years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery etc - 25% on reducing balance and 15% on reducing balance

Stocks
Stocks and work in progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.


POLY SOLUTIONS UK LTD (REGISTERED NUMBER: 10436246)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 OCTOBER 2024

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
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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

The average number of employees during the year was 5 (2023 - 5 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 November 2023
and 31 October 2024 5,000
AMORTISATION
At 1 November 2023 1,500
Charge for year 500
At 31 October 2024 2,000
NET BOOK VALUE
At 31 October 2024 3,000
At 31 October 2023 3,500

POLY SOLUTIONS UK LTD (REGISTERED NUMBER: 10436246)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 OCTOBER 2024

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 November 2023 47,686
Additions 53,037
Disposals (8,500 )
At 31 October 2024 92,223
DEPRECIATION
At 1 November 2023 13,193
Charge for year 11,713
Eliminated on disposal (1,771 )
At 31 October 2024 23,135
NET BOOK VALUE
At 31 October 2024 69,088
At 31 October 2023 34,493

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and
machinery
etc
£   
COST
At 1 November 2023 25,450
Additions 17,678
Transfer to ownership (8,500 )
At 31 October 2024 34,628
DEPRECIATION
At 1 November 2023 7,471
Charge for year 3,571
Transfer to ownership (1,771 )
At 31 October 2024 9,271
NET BOOK VALUE
At 31 October 2024 25,357
At 31 October 2023 17,979

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 415,936 216,465
Amounts owed by group undertakings 65,154 54,680
Other debtors 29,187 12,424
510,277 283,569

POLY SOLUTIONS UK LTD (REGISTERED NUMBER: 10436246)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 OCTOBER 2024

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 6,441 21,559
Hire purchase contracts 12,071 5,111
Trade creditors 369,300 182,293
Taxation and social security 46,859 25,379
Other creditors 4,689 9,683
439,360 244,025

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans 21,835 24,823
Hire purchase contracts 11,097 12,841
Other creditors - 1,240
32,932 38,904

9. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Hire purchase contracts 23,168 17,952

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
NIL Ordinary £1 - 30,300
30,000 Ordinary A £1 30,000 -
300 Ordinary B £1 300 -
30,300 30,300

11. OTHER FINANCIAL COMMITMENTS

The total amount of commitments, guarantees and contingencies is £216,690.

12. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 October 2024 and 31 October 2023:

2024 2023
£    £   
Mr P J Edmunds
Balance outstanding at start of year 6,345 6,345
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 6,345 6,345