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REGISTERED NUMBER: 03736903









Unaudited Financial Statements

for the Year Ended 30 April 2024

for

Land Polymers Limited

Land Polymers Limited (Registered number: 03736903)






Contents of the Financial Statements
for the Year Ended 30 April 2024




Page

Balance Sheet 1

Notes to the Financial Statements 3


Land Polymers Limited (Registered number: 03736903)

Balance Sheet
30 April 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 1,171,951 947,496
1,171,951 947,496

CURRENT ASSETS
Stocks 168,147 162,998
Debtors 6 322,123 473,764
Cash at bank - 12
490,270 636,774
CREDITORS
Amounts falling due within one year 7 1,153,792 1,120,555
NET CURRENT LIABILITIES (663,522 ) (483,781 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

508,429

463,715

CREDITORS
Amounts falling due after more than one
year

8

(328,834

)

(270,017

)

PROVISIONS FOR LIABILITIES (56,341 ) (86,905 )
NET ASSETS 123,254 106,793

CAPITAL AND RESERVES
Called up share capital 11 100 100
Retained earnings 123,154 106,693
123,254 106,793

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.

Land Polymers Limited (Registered number: 03736903)

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 31 January 2025 and were signed on its behalf by:





T J Land - Director


Land Polymers Limited (Registered number: 03736903)

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

1. STATUTORY INFORMATION

Land Polymers Limited is a private company, limited by shares , registered in Not specified/Other. The company's registered number and registered office address are as below:

Registered number: 03736903

Registered office: Staincliffe Yard
108 Halifax Road
Staincliffe
Batley
WF17 7RB

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 UK and Republic of Ireland" and the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to give a true and fair view.

The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer. Turnover from the sale of goods is recognised on delivery. Turnover from the supply of services represents the value of services provided under contracts to the extent that there is a right to consideration and is recorded at the fair value of the consideration received or receivable.

Goodwill
Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company's interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the equity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Land Polymers Limited (Registered number: 03736903)

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

2. ACCOUNTING POLICIES - continued

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Tangible fixed assets are stated at purchase cost together with any incidental expenses of acquisition, net of depreciation and any provision for impairment.

Depreciation is provided on all tangible assets, at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life as follows:

Improvement to
property

- 10% straight line

Plant & machinery- 15% reducing balance
Motor vehicles- 25% reducing balance
Freehold land &
buildings

- 2% straight line


Residual value represents the estimated amount which would currently be obtained from disposal of an asset after deducting estimated costs of disposal, if the asset were already at an age and in the condition expected at the end of its estimated useful life.

The gain or loss arising on the disposal of an asset is determined on the difference between the sale proceeds and the carrying value of the asset, and is recognised in the profit and loss account.

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

Taxation
Current tax, including UK corporation tax is provided at amounts expected to be paid (or recovered) using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date where transactions or events that result in an obligation to pay more tax in the future or a right to pay less tax in the future have occurred at the balance sheet date. Timing differences are differences between the company's taxable profits and its results as stated in the financial statements that arise from the inclusion of gains and losses in tax assessments in periods different from those in which they are recognised in the financial statements.

Hire purchase and leasing commitments
Assets held under finance leases, hire purchase contracts and other similar arrangements, which confer rights and obligations similar to those attached to owned assets, are capitalised as tangible fixed assets at the fair value of the leased asset and are depreciated over the shorter of the lease terms and their useful lives. The capital elements of future lease obligations are recorded as liabilities, while the interest elements are charged to the profit and loss account over the period of the leases to produce a constant periodic rate of interest on the remaining balance of the liability.

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 25 (2023 - 24 ) .

Land Polymers Limited (Registered number: 03736903)

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

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 May 2023
and 30 April 2024 59,000
AMORTISATION
At 1 May 2023
and 30 April 2024 59,000
NET BOOK VALUE
At 30 April 2024 -
At 30 April 2023 -

5. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 May 2023 339,292 1,697,023 2,036,315
Additions - 233,987 233,987
Disposals - (13,934 ) (13,934 )
At 30 April 2024 339,292 1,917,076 2,256,368
DEPRECIATION
At 1 May 2023 10,752 1,078,067 1,088,819
Charge for year 768 8,144 8,912
Eliminated on disposal - (13,314 ) (13,314 )
At 30 April 2024 11,520 1,072,897 1,084,417
NET BOOK VALUE
At 30 April 2024 327,772 844,179 1,171,951
At 30 April 2023 328,540 618,956 947,496

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 161,046 301,085
Other debtors 161,077 172,679
322,123 473,764

Land Polymers Limited (Registered number: 03736903)

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

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 115,207 124,483
Hire purchase contracts (see note 9) 61,481 94,739
Trade creditors 560,573 442,154
Taxation and social security 349,611 329,710
Other creditors 66,920 129,469
1,153,792 1,120,555

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans 80,142 51,197
Hire purchase contracts (see note 9) 248,692 218,820
328,834 270,017

9. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
2024 2023
£    £   
Net obligations repayable:
Within one year 61,481 94,739
Between one and five years 248,692 218,820
310,173 313,559

Non-cancellable operating leases
2024 2023
£    £   
Within one year 64,297 64,297
Between one and five years 67,347 131,645
131,644 195,942

Land Polymers Limited (Registered number: 03736903)

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

10. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank overdrafts 94,856 108,057
Hire purchase contracts 310,173 313,559
405,029 421,616

The bank overdraft is secured by fixed and floating charges over the assets of the company.

Liabilities under hire purchase agreements are secured on the assets to which the liabilities relate.

11. CALLED UP SHARE CAPITAL

2024 2023
£ £
Allotted, issued and fully paid 100 100

12. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

Included in other debtors is an amount owed by a director. The amount outstanding at the start of the year was £83,071 and the maximum amount outstanding during the year was £83,196. The balance outstanding at the end of the year was £83,196.

13. RELATED PARTY DISCLOSURES

The company paid rent of £13,500 (2023 - £15,250) to a shareholder of the company in the year.
A balance of £23,315 (2023 - £36,815) was owed by a shareholder at the balance sheet date.