Company registration number 04670592 (England and Wales)
DOVETAIL POLYMERS LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
PAGES FOR FILING WITH REGISTRAR
DOVETAIL POLYMERS LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 6
DOVETAIL POLYMERS LIMITED (REGISTERED NUMBER: 04670592)
BALANCE SHEET
AS AT
31 DECEMBER 2024
31 December 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
334
646
Current assets
Stocks
638,694
343,854
Debtors
4
1,715,585
2,293,725
Cash at bank and in hand
9,922
11,691
2,364,201
2,649,270
Creditors: amounts falling due within one year
5
(1,660,507)
(2,039,361)
Net current assets
703,694
609,909
Total assets less current liabilities
704,028
610,555
Provisions for liabilities
(83)
(161)
Net assets
703,945
610,394
Capital and reserves
Called up share capital
1,000
1,000
Profit and loss reserves
702,945
609,394
Total equity
703,945
610,394

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

DOVETAIL POLYMERS LIMITED (REGISTERED NUMBER: 04670592)
BALANCE SHEET (CONTINUED)
AS AT
31 DECEMBER 2024
31 December 2024
- 2 -
The financial statements were approved by the board of directors and authorised for issue on 25 February 2025 and are signed on its behalf by:
T Dove
Director
DOVETAIL POLYMERS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
- 3 -
1
Accounting policies
Company information

DoveTail Polymers Limited is a private company limited by shares incorporated in England and Wales. The registered office is The Old Post Office, Stalisfield Green, Faversham, Kent, ME13 0HY.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of 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 show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £1.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Going concern

Atruet the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

 

Turnover for the sale of goods is recognised when all of the following conditions are satisfied:

1.4
Intangible fixed assets - goodwill

Goodwill represents the excess of the cost of acquisition of unincorporated businesses over the fair value of net assets acquired. It is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is considered to have a finite useful life and is amortised on a systematic basis over its expected life, which is 10 years.

1.5
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Fixtures, fittings & equipment
33% on cost
DOVETAIL POLYMERS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
1
Accounting policies
(Continued)
- 4 -

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.6
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

 

Stocks held for distribution at no or nominal consideration are measured at the lower of cost and replacement cost, adjusted where applicable for any loss of service potential.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

1.7
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

1.8
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.9
Foreign exchange

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
3
3
DOVETAIL POLYMERS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 5 -
3
Tangible fixed assets
Fixtures, fittings & equipment
£
Cost
At 1 January 2024 and 31 December 2024
62,507
Depreciation and impairment
At 1 January 2024
61,861
Depreciation charged in the year
312
At 31 December 2024
62,173
Carrying amount
At 31 December 2024
334
At 31 December 2023
646
4
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
740,527
841,624
Amounts owed by group undertakings
846,666
1,309,926
Other debtors
128,392
142,175
1,715,585
2,293,725
5
Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts
41,074
29,854
Trade creditors
167,742
108,739
Amounts owed to group undertakings
1,283,860
1,708,633
Taxation and social security
163,922
188,505
Other creditors
3,909
3,630
1,660,507
2,039,361
6
Financial commitments, guarantees and contingent liabilities

Bank loans are secured by way of fixed and floating charges over the company's assets.

DOVETAIL POLYMERS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 6 -
7
Related party transactions

At the year end the company owed £1,283,860 (2023: £1,708,633) to the parent company. During the year the company incurred management charges of £120,000 (2023: £120,000) from the parent company. During the year the company paid dividends of £30,000 (2023: £120,000) to the parent company.

 

At the year end the company was owed £846,666 (2023: £1,309,926) from a group company. During the year the company sold goods totalling £114,911 (2023: £178,942) to a group company.

 

The parent company has provided security guarantees in respect of balances included in other creditors.

 

The directors have provided a personal guarantee up to a maximum of £50,000 in respect of balances included in other creditors.

8
Parent company

The parent company is DoveTail Holdings Limited.

2024-12-312024-01-01falsefalsefalse25 February 2025CCH SoftwareCCH Accounts Production 2024.301No description of principal activityM DoveT DoveM Dove046705922024-01-012024-12-31046705922024-12-31046705922023-12-3104670592core:FurnitureFittings2024-12-3104670592core:FurnitureFittings2023-12-3104670592core:CurrentFinancialInstrumentscore:WithinOneYear2024-12-3104670592core:CurrentFinancialInstrumentscore:WithinOneYear2023-12-3104670592core:CurrentFinancialInstruments2024-12-3104670592core:CurrentFinancialInstruments2023-12-3104670592core:ShareCapital2024-12-3104670592core:ShareCapital2023-12-3104670592core:RetainedEarningsAccumulatedLosses2024-12-3104670592core:RetainedEarningsAccumulatedLosses2023-12-3104670592bus:Director12024-01-012024-12-3104670592core:Goodwill2024-01-012024-12-3104670592core:FurnitureFittings2024-01-012024-12-31046705922023-01-012023-12-3104670592core:FurnitureFittings2023-12-3104670592core:WithinOneYear2024-12-3104670592core:WithinOneYear2023-12-3104670592bus:PrivateLimitedCompanyLtd2024-01-012024-12-3104670592bus:SmallCompaniesRegimeForAccounts2024-01-012024-12-3104670592bus:FRS1022024-01-012024-12-3104670592bus:AuditExemptWithAccountantsReport2024-01-012024-12-3104670592bus:Director22024-01-012024-12-3104670592bus:CompanySecretary12024-01-012024-12-3104670592bus:FullAccounts2024-01-012024-12-31xbrli:purexbrli:sharesiso4217:GBP