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REGISTERED NUMBER: 05101708 (England and Wales)















FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2024

FOR

POLYMAX LIMITED

POLYMAX LIMITED (REGISTERED NUMBER: 05101708)

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


POLYMAX LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 APRIL 2024







DIRECTORS: R NIJHAWAN
Mrs S S Nijhawan





SECRETARY: A & S Consultants Limited





REGISTERED OFFICE: Building 75
Whitehill And Bordon Enterprise Park
Budds Lane
Bordon
Hampshire
GU35 0FJ





REGISTERED NUMBER: 05101708 (England and Wales)





ACCOUNTANTS: E Dessai & Co Limited
Chartered Accountants
Congress House Office 10
4th Floor, 14 Lyon Road
Harrow
Middlesex
HA1 2EN

POLYMAX LIMITED (REGISTERED NUMBER: 05101708)

BALANCE SHEET
30 APRIL 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 102,420 140,012

CURRENT ASSETS
Stocks 5 958,350 1,208,203
Debtors 6 3,169,528 3,309,520
Cash at bank and in hand 7,162,097 5,106,186
11,289,975 9,623,909
CREDITORS
Amounts falling due within one year 7 703,697 1,170,697
NET CURRENT ASSETS 10,586,278 8,453,212
TOTAL ASSETS LESS CURRENT
LIABILITIES

10,688,698

8,593,224

PROVISIONS FOR LIABILITIES 4,312 2,992
NET ASSETS 10,684,386 8,590,232

CAPITAL AND RESERVES
Called up share capital 2 2
Capital redemption reserve 2 2
Retained earnings 10,684,382 8,590,228
SHAREHOLDERS' FUNDS 10,684,386 8,590,232

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 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.

POLYMAX LIMITED (REGISTERED NUMBER: 05101708)

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 Board of Directors and authorised for issue on 13 January 2025 and were signed on its behalf by:





R NIJHAWAN - Director


POLYMAX LIMITED (REGISTERED NUMBER: 05101708)

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


1. STATUTORY INFORMATION

POLYMAX 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 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 the cost less estimated residual value of each asset over its estimated useful life.
Improvements to property - at varying rates on cost
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 25% on reducing balance

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.

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.

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 23 (2023 - 24 ) .

POLYMAX LIMITED (REGISTERED NUMBER: 05101708)

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


4. TANGIBLE FIXED ASSETS
Improvements Fixtures
to Plant and and Motor
property machinery fittings vehicles Totals
£    £    £    £    £   
COST
At 1 May 2023 63,991 130,796 142,342 220,548 557,677
Additions - 1,543 - - 1,543
Disposals - (1,700 ) - - (1,700 )
At 30 April 2024 63,991 130,639 142,342 220,548 557,520
DEPRECIATION
At 1 May 2023 59,069 98,009 106,030 154,557 417,665
Charge for year 4,922 8,565 9,078 16,498 39,063
Eliminated on disposal - (1,628 ) - - (1,628 )
At 30 April 2024 63,991 104,946 115,108 171,055 455,100
NET BOOK VALUE
At 30 April 2024 - 25,693 27,234 49,493 102,420
At 30 April 2023 4,922 32,787 36,312 65,991 140,012

5. STOCKS
2024 2023
£    £   
Finished goods 958,350 1,208,203

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 810,935 571,612
Bad debt provision (5,496 ) -
Amounts owed by group undertakings 2,338,011 2,737,908
Directors' current accounts 4,500 -
Prepayments 21,578 -
3,169,528 3,309,520

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 463,812 505,061
Taxation and social security 320,699 286,632
Other creditors (80,814 ) 379,004
703,697 1,170,697

POLYMAX LIMITED (REGISTERED NUMBER: 05101708)

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


8. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 30 April 2024 and 30 April 2023:

2024 2023
£    £   
R NIJHAWAN
Balance outstanding at start of year - -
Amounts advanced 4,500 -
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 4,500 -

The loan was repaid by the director on 27 September 2024.