Registered number
07580529
Trademark Polythene Ltd
Filleted Accounts
31 January 2025
Trademark Polythene Ltd
Registered number: 07580529
Balance Sheet
as at 31 January 2025
Notes 2025 2024
£ £
Fixed assets
Tangible assets 3 9,537 11,921
Current assets
Stocks 391,342 427,255
Debtors 4 657,958 623,436
Cash at bank and in hand 461,322 332,572
1,510,622 1,383,263
Creditors: amounts falling due within one year 5 (702,993) (615,039)
Net current assets 807,629 768,224
Total assets less current liabilities 817,166 780,145
Creditors: amounts falling due after more than one year 6 - (10,000)
Net assets 817,166 770,145
Capital and reserves
Called up share capital 100 100
Profit and loss account 817,066 770,045
Shareholder's funds 817,166 770,145
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
M S Dodge
Director
Approved by the board on 7 April 2025
Trademark Polythene Ltd
Notes to the Accounts
for the year ended 31 January 2025
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Fixtures and fittings 20% reducing balance
Computer equipment 20% reducing balance
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2025 2024
Number Number
Average number of persons employed by the company 3 2
3 Tangible fixed assets
Fixtures and fittings Computer equipment Total
£ £ £
Cost
At 1 February 2024 3,208 23,794 27,002
At 31 January 2025 3,208 23,794 27,002
Depreciation
At 1 February 2024 2,368 12,713 15,081
Charge for the year 168 2,216 2,384
At 31 January 2025 2,536 14,929 17,465
Net book value
At 31 January 2025 672 8,865 9,537
At 31 January 2024 840 11,081 11,921
4 Debtors 2025 2024
£ £
Trade debtors 548,616 514,094
Director's loan 58,113 58,113
Other debtors 51,229 51,229
657,958 623,436
5 Creditors: amounts falling due within one year 2025 2024
£ £
Bank loans and overdrafts 10,000 20,000
Trade creditors 626,705 494,804
Director's loan 20,714 -
Taxation and social security costs 42,175 96,816
Other creditors 3,399 3,419
702,993 615,039
6 Creditors: amounts falling due after one year 2025 2024
£ £
Bank loans - 10,000
7 Controlling party
The controlling party was the director and majority shareholder of the holding company M S Dodge.
8 Other information
Trademark Polythene Ltd is a private company limited by shares and incorporated in England. Its registered office is:
23 Cottingham Way
Thrapston
Kettering
Northants
NN14 4PL
Trademark Polythene Ltd 07580529 false 2024-02-01 2025-01-31 2025-01-31 VT Final Accounts April 2024 M S Dodge No description of principal activity 07580529 2023-02-01 2024-01-31 07580529 core:WithinOneYear 2024-01-31 07580529 core:AfterOneYear 2024-01-31 07580529 core:ShareCapital 2024-01-31 07580529 core:RetainedEarningsAccumulatedLosses 2024-01-31 07580529 2024-02-01 2025-01-31 07580529 bus:PrivateLimitedCompanyLtd 2024-02-01 2025-01-31 07580529 bus:AuditExemptWithAccountantsReport 2024-02-01 2025-01-31 07580529 bus:Director40 2024-02-01 2025-01-31 07580529 1 2024-02-01 2025-01-31 07580529 2 2024-02-01 2025-01-31 07580529 core:LandBuildings 2024-02-01 2025-01-31 07580529 core:PlantMachinery 2024-02-01 2025-01-31 07580529 countries:England 2024-02-01 2025-01-31 07580529 bus:FRS102 2024-02-01 2025-01-31 07580529 bus:FilletedAccounts 2024-02-01 2025-01-31 07580529 2025-01-31 07580529 core:WithinOneYear 2025-01-31 07580529 core:AfterOneYear 2025-01-31 07580529 core:ShareCapital 2025-01-31 07580529 core:RetainedEarningsAccumulatedLosses 2025-01-31 07580529 core:LandBuildings 2025-01-31 07580529 core:PlantMachinery 2025-01-31 07580529 2024-01-31 07580529 core:LandBuildings 2024-01-31 07580529 core:PlantMachinery 2024-01-31 iso4217:GBP xbrli:pure