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REGISTERED NUMBER: 11933731 (England and Wales)

















POLYPHONIA LTD

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 APRIL 2024






POLYPHONIA LTD (REGISTERED NUMBER: 11933731)






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




Page

Balance Sheet 1

Notes to the Financial Statements 3


POLYPHONIA LTD (REGISTERED NUMBER: 11933731)

BALANCE SHEET
30 APRIL 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 23,485 19,854

CURRENT ASSETS
Debtors 5 17,606 23,651
Cash at bank 214,404 315,573
232,010 339,224
CREDITORS
Amounts falling due within one year 6 85,658 203,466
NET CURRENT ASSETS 146,352 135,758
TOTAL ASSETS LESS CURRENT
LIABILITIES

169,837

155,612

PROVISIONS FOR LIABILITIES 4,462 3,772
NET ASSETS 165,375 151,840

CAPITAL AND RESERVES
Called up share capital 7 102 102
Retained earnings 8 165,273 151,738
SHAREHOLDERS' FUNDS 165,375 151,840

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.

POLYPHONIA LTD (REGISTERED NUMBER: 11933731)

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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 20 January 2025 and were signed on its behalf by:




Miss J E Pybus - Director



A J Theakstone - Director


POLYPHONIA LTD (REGISTERED NUMBER: 11933731)

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

1. STATUTORY INFORMATION

Polyphonia 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: 11933731

Registered office: 71 Knowl Piece
Wilbury Way
Hitchin
Hertfordshire
SG4 0TY

The presentation currency of the financial statements is the Pound Sterling (£).


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.

Going concern
The directors have a reasonable expectation that the company will continue to operate for the foreseeable future and so these financial statements are prepared on the going concern basis.

Significant judgements and estimates
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported for assets and liabilities as at the balance sheet date and the amounts reported for revenues and expenses during the year. However, the nature of estimation means that actual outcomes could differ from those estimates. In the Director's opinion, there are no significant judgements or key sources of estimation uncertainty.

Turnover
Turnover is derived from artistic creation and is recognised when the services are delivered to the customer. 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 each asset over its estimated useful life.
Plant and machinery - 25% on reducing balance
Computer equipment - 33% on cost

Financial instruments
The company only enters into basic financial instruments that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Profit and Loss Account.

Financial assets and liabilities are offset and the net amount reported in the Balance Sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.


POLYPHONIA LTD (REGISTERED NUMBER: 11933731)

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

2. ACCOUNTING POLICIES - continued
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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 2 (2023 - 2 ) .

4. TANGIBLE FIXED ASSETS
Plant and Computer
machinery equipment Totals
£    £    £   
COST
At 1 May 2023 729 31,074 31,803
Additions - 15,269 15,269
At 30 April 2024 729 46,343 47,072
DEPRECIATION
At 1 May 2023 194 11,755 11,949
Charge for year 134 11,504 11,638
At 30 April 2024 328 23,259 23,587
NET BOOK VALUE
At 30 April 2024 401 23,084 23,485
At 30 April 2023 535 19,319 19,854

POLYPHONIA LTD (REGISTERED NUMBER: 11933731)

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

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 17,071 22,060
Other debtors 535 1,591
17,606 23,651

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 2,132 8,846
Taxation and social security 64,833 43,628
Other creditors 18,693 150,992
85,658 203,466

7. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
100 Ordinary 1 100 100
1 Ordinary A 1 1 1
1 Ordinary B 1 1 1
102 102

8. RESERVES
Retained
earnings
£   

At 1 May 2023 151,738
Profit for the year 173,535
Dividends (160,000 )
At 30 April 2024 165,273

POLYPHONIA LTD (REGISTERED NUMBER: 11933731)

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

9. RELATED PARTY DISCLOSURES

Andy Theakstone Studio Ltd

A company which A Theakstone is a shareholder and director.

Purchases totalling £36,884 (2023: £38,695) were made from Andy Theakstone Studio Ltd during the year.

Dividends totalling £80,000 (2023: £60,000) were paid to Andy Theakstone Studio Ltd during the year.

Amount due to related party at the balance sheet date £212 (2023: £43,218).


Jade Pybus Studio Ltd

A company which J Pybus is a shareholder and director.

Purchases totalling £80,816 (2023: £78,207) were made from Jade Pybus Studio Ltd during the year.

Dividends totalling £80,000 (2023: £60,000) were paid to Jade Pybus Studio Ltd during the year.

Amount due to related party at the balance sheet date £13,437 (2023: £103,474).