POLYFAB COATINGS AND SYSTEMS LIMITED

Company Registration Number:
04800534 (England and Wales)

Unaudited abridged accounts for the year ended 30 June 2024

Period of accounts

Start date: 01 July 2023

End date: 30 June 2024

POLYFAB COATINGS AND SYSTEMS LIMITED

Contents of the Financial Statements

for the Period Ended 30 June 2024

Balance sheet
Notes

POLYFAB COATINGS AND SYSTEMS LIMITED

Balance sheet

As at 30 June 2024


Notes

2024

2023


£

£
Fixed assets
Intangible assets: 3 4,811 6,930
Tangible assets: 4 3,626,287 2,380,898
Total fixed assets: 3,631,098 2,387,828
Current assets
Stocks: 552,542 590,983
Debtors:   1,258,201 939,093
Cash at bank and in hand: 2,746,037 2,471,925
Total current assets: 4,556,780 4,002,001
Creditors: amounts falling due within one year: 5 (1,600,663) (1,053,568)
Net current assets (liabilities): 2,956,117 2,948,433
Total assets less current liabilities: 6,587,215 5,336,261
Provision for liabilities: (299,946) (74,347)
Total net assets (liabilities): 6,287,269 5,261,914
Capital and reserves
Called up share capital: 105 105
Revaluation reserve:6804,727228,131
Profit and loss account: 5,482,437 5,033,678
Shareholders funds: 6,287,269 5,261,914

The notes form part of these financial statements

POLYFAB COATINGS AND SYSTEMS LIMITED

Balance sheet statements

For the year ending 30 June 2024 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A).

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The directors have chosen to not file a copy of the company’s profit & loss account.

This report was approved by the board of directors on 10 September 2024
and signed on behalf of the board by:

Name: MR N MULLARKEY
Status: Director

The notes form part of these financial statements

POLYFAB COATINGS AND SYSTEMS LIMITED

Notes to the Financial Statements

for the Period Ended 30 June 2024

1. Accounting policies

These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

Turnover policy

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered,net of discounts and VAT

Tangible fixed assets and depreciation policy

Depreciation is calculated to write off the cost of the asset,less its residual value, over the useful economic life of that asset as follows:- Freehold property-0% on a straight line basis Plant and machinery-15% on a reducing balance basis Fiixtures/fittings and equipment-15% on a reducing balance basis Motor vehicles-25% on a reducing balance basis Computer equipment-33.33% on a reducing balance basis Research and development equipment-33.33% on a reducing balance basis

Intangible fixed assets and amortisation policy

Intangible assets are amortised at 10% on a straight line basis

POLYFAB COATINGS AND SYSTEMS LIMITED

Notes to the Financial Statements

for the Period Ended 30 June 2024

2. Employees

2024 2023
Average number of employees during the period 34 34

POLYFAB COATINGS AND SYSTEMS LIMITED

Notes to the Financial Statements

for the Period Ended 30 June 2024

3. Intangible Assets

Total
Cost £
At 01 July 2023 22,896
Additions 190
At 30 June 2024 23,086
Amortisation
At 01 July 2023 15,966
Charge for year 2,309
At 30 June 2024 18,275
Net book value
At 30 June 2024 4,811
At 30 June 2023 6,930

POLYFAB COATINGS AND SYSTEMS LIMITED

Notes to the Financial Statements

for the Period Ended 30 June 2024

4. Tangible Assets

Total
Cost £
At 01 July 2023 3,397,651
Additions 759,772
Revaluations 576,596
At 30 June 2024 4,734,019
Depreciation
At 01 July 2023 1,016,753
Charge for year 90,979
At 30 June 2024 1,107,732
Net book value
At 30 June 2024 3,626,287
At 30 June 2023 2,380,898

POLYFAB COATINGS AND SYSTEMS LIMITED

Notes to the Financial Statements

for the Period Ended 30 June 2024

5. Creditors: amounts falling due within one year note

Trade creditors -£1074986 Accruals -£146456 Corporation tax -£118513 Social security and other taxes -£230917 Directors loan accounts-£15860 Other creditors -£13931

POLYFAB COATINGS AND SYSTEMS LIMITED

Notes to the Financial Statements

for the Period Ended 30 June 2024

6. Revaluation reserve

2024
£
Balance at 01 July 2023 228,131
Surplus or deficit after revaluation 576,596
Balance at 30 June 2024 804,727