IRIS Accounts Production v24.3.2.46 SC231303 Board of Directors 1.5.23 30.4.24 30.4.24 false true false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWhSC2313032023-04-30SC2313032024-04-30SC2313032023-05-012024-04-30SC2313032022-04-30SC2313032022-05-012023-04-30SC2313032023-04-30SC231303ns15:Scotland2023-05-012024-04-30SC231303ns14:PoundSterling2023-05-012024-04-30SC231303ns10:Director12023-05-012024-04-30SC231303ns10:PrivateLimitedCompanyLtd2023-05-012024-04-30SC231303ns10:SmallEntities2023-05-012024-04-30SC231303ns10:AuditExempt-NoAccountantsReport2023-05-012024-04-30SC231303ns10:SmallCompaniesRegimeForDirectorsReport2023-05-012024-04-30SC231303ns10:SmallCompaniesRegimeForAccounts2023-05-012024-04-30SC231303ns10:FullAccounts2023-05-012024-04-30SC231303ns10:Director22023-05-012024-04-30SC231303ns10:CompanySecretary12023-05-012024-04-30SC231303ns10:RegisteredOffice2023-05-012024-04-30SC231303ns5:CurrentFinancialInstruments2024-04-30SC231303ns5:CurrentFinancialInstruments2023-04-30SC231303ns5:ShareCapital2024-04-30SC231303ns5:ShareCapital2023-04-30SC231303ns5:RetainedEarningsAccumulatedLosses2024-04-30SC231303ns5:RetainedEarningsAccumulatedLosses2023-04-30SC231303ns5:PlantMachinery2023-05-012024-04-30SC231303ns5:PlantMachinery2023-04-30SC231303ns5:PlantMachinery2024-04-30SC231303ns5:PlantMachinery2023-04-30SC231303ns5:WithinOneYearns5:CurrentFinancialInstruments2024-04-30SC231303ns5:WithinOneYearns5:CurrentFinancialInstruments2023-04-30SC231303ns5:CurrentFinancialInstruments2023-05-012024-04-30
REGISTERED NUMBER: SC231303 (Scotland)















Unaudited Financial Statements for the Year Ended 30 April 2024

for

Polytech Metals Limited

Polytech Metals Limited (Registered number: SC231303)






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


Polytech Metals Limited

Company Information
for the Year Ended 30 April 2024







DIRECTORS: M Grant
Mrs F Grant





SECRETARY: Mrs F Grant





REGISTERED OFFICE: Block E, Unit 3
50 Glenwood Place
Glenwood Business Park
Glasgow
G45 9UH





REGISTERED NUMBER: SC231303 (Scotland)





ACCOUNTANTS: Clements
Chartered Accountants
39 St Vincent Place
Glasgow
G1 2ER

Polytech Metals Limited (Registered number: SC231303)

Balance Sheet
30 April 2024

30.4.24 30.4.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 294 1,092

CURRENT ASSETS
Stocks 15,775 13,396
Debtors 5 25,417 40,298
Cash at bank 49,692 46,073
90,884 99,767
CREDITORS
Amounts falling due within one year 6 32,106 42,692
NET CURRENT ASSETS 58,778 57,075
TOTAL ASSETS LESS CURRENT
LIABILITIES

59,072

58,167

PROVISIONS FOR LIABILITIES 56 207
NET ASSETS 59,016 57,960

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 59,014 57,958
SHAREHOLDERS' FUNDS 59,016 57,960

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.

Polytech Metals Limited (Registered number: SC231303)

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 29 January 2025 and were signed on its behalf by:





M Grant - Director


Polytech Metals Limited (Registered number: SC231303)

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

1. STATUTORY INFORMATION

Polytech Metals Limited is a private company, limited by shares , registered in Scotland. 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
The turnover shown in the profit and loss account represents revenue recognised by the company in respect of the sale of woven and wire mesh products during the period, exclusive of Value Added Tax. Revenue is recognised when the company has the right to receive it.

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.
Plant and machinery etc - 33% on cost and 25% on reducing balance

Stocks
Stocks are valued at the lower of cost and selling price less costs to complete and sell.

Financial instruments
The company only has basic financial assets and liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value.

Taxation
Taxation for the year comprises current and deferred tax.

The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on all timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period.

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 ) .

Polytech Metals Limited (Registered number: SC231303)

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

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 May 2023
and 30 April 2024 9,206
DEPRECIATION
At 1 May 2023 8,114
Charge for year 798
At 30 April 2024 8,912
NET BOOK VALUE
At 30 April 2024 294
At 30 April 2023 1,092

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.4.24 30.4.23
£    £   
Trade debtors 24,085 38,886
Other debtors 1,332 1,412
25,417 40,298

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.4.24 30.4.23
£    £   
Trade creditors 14,741 25,195
Taxation and social security 3,357 3,012
Other creditors 14,008 14,485
32,106 42,692

Included in other creditors above is a director's current account which is unsecured, interest free and repayable on demand.

7. RELATED PARTY DISCLOSURES

During the year, total dividends of £2,000 (2022 - £2,000) were paid to the director, Martin Grant.