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REGISTERED NUMBER: 04380650 (England and Wales)











Polythene Solutions Limited

Unaudited Financial Statements

for the Year Ended 30 April 2024






Polythene Solutions Limited (Registered number: 04380650)






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


Polythene Solutions Limited

Company Information
for the Year Ended 30 April 2024







DIRECTORS: D Martin
Mrs R M Martin
M A Stubbs
S L Martin





SECRETARY: S L Martin





REGISTERED OFFICE: Brunel House
Brunel Road
Leominster Enterprise Park
Leominster
Herefordshire
HR6 0LX





REGISTERED NUMBER: 04380650 (England and Wales)





ACCOUNTANTS: Streets Dyke Ruscoe Ltd
110 Corve Street
Ludlow
SHROPSHIRE
SY8 1DJ

Polythene Solutions Limited (Registered number: 04380650)

Balance Sheet
30 April 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 436 500
Tangible assets 5 13,128 15,826
13,564 16,326

CURRENT ASSETS
Stocks 2,500 2,500
Debtors 6 326,763 354,132
Prepayments and accrued income 2,227 4,048
Cash at bank and in hand 350,124 321,607
681,614 682,287
CREDITORS
Amounts falling due within one year 7 320,612 358,432
NET CURRENT ASSETS 361,002 323,855
TOTAL ASSETS LESS CURRENT
LIABILITIES

374,566

340,181

PROVISIONS FOR LIABILITIES (2,364 ) (2,689 )

ACCRUALS AND DEFERRED INCOME (3,283 ) (4,318 )
NET ASSETS 368,919 333,174

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 368,819 333,074
SHAREHOLDERS' FUNDS 368,919 333,174

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.

Polythene Solutions Limited (Registered number: 04380650)

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 27 January 2025 and were signed on its behalf by:





S L Martin - Director


Polythene Solutions Limited (Registered number: 04380650)

Notes to the Financial Statements
for the Year Ended 30 April 2024

1. STATUTORY INFORMATION

Polythene Solutions 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.

No profit and loss account is filed

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.

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.

Patents and licences are being amortised evenly over their estimated useful life of nil years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Improvements to property - 20% on cost and Straight line over 3 years
Plant and machinery - 20% on reducing balance
Fixtures and fittings - 20% on reducing balance
Motor vehicles - 20% on reducing balance
Computer equipment - 25% on cost

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.

Polythene Solutions Limited (Registered number: 04380650)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
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 AND DIRECTORS

The average number of employees during the year was 7 (2023 - 7 ) .

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1 May 2023
and 30 April 2024 635
AMORTISATION
At 1 May 2023 135
Charge for year 64
At 30 April 2024 199
NET BOOK VALUE
At 30 April 2024 436
At 30 April 2023 500

5. TANGIBLE FIXED ASSETS
Improvements Fixtures
to Plant and and
property machinery fittings
£    £    £   
COST
At 1 May 2023 21,508 11,724 9,059
Additions - - -
At 30 April 2024 21,508 11,724 9,059
DEPRECIATION
At 1 May 2023 18,025 1,280 8,081
Charge for year 1,304 2,089 194
At 30 April 2024 19,329 3,369 8,275
NET BOOK VALUE
At 30 April 2024 2,179 8,355 784
At 30 April 2023 3,483 10,444 978

Polythene Solutions Limited (Registered number: 04380650)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024

5. TANGIBLE FIXED ASSETS - continued

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 May 2023 548 3,938 46,777
Additions - 1,659 1,659
At 30 April 2024 548 5,597 48,436
DEPRECIATION
At 1 May 2023 532 3,033 30,951
Charge for year 3 767 4,357
At 30 April 2024 535 3,800 35,308
NET BOOK VALUE
At 30 April 2024 13 1,797 13,128
At 30 April 2023 16 905 15,826

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 326,169 353,161
Directors' current accounts 594 971
326,763 354,132

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 257,800 306,289
Tax 37,714 31,633
Social security and other taxes 688 1,732
VAT 20,691 17,448
Other creditors 1,163 847
Directors' current accounts 2,556 483
320,612 358,432

Polythene Solutions Limited (Registered number: 04380650)

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 directors subsisted during the years ended 30 April 2024 and 30 April 2023:

2024 2023
£    £   
Mrs R M Martin
Balance outstanding at start of year 971 (29 )
Amounts advanced - 1,000
Amounts repaid (980 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (9 ) 971

M A Stubbs
Balance outstanding at start of year - -
Amounts advanced 702 -
Amounts repaid (108 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 594 -

Loans to directors are repayable on demand and no interest charged on this loan.

No repayment terms have been set for the loan within creditors and no interest has been charged by the director.

9. ULTIMATE CONTROLLING PARTY

The controlling party is D Martin.