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Registered number: 08495431










POLYSTAR PLASTICS (HOLDINGS) LIMITED








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 JULY 2024

 
POLYSTAR PLASTICS (HOLDINGS) LIMITED
REGISTERED NUMBER: 08495431

BALANCE SHEET
AS AT 31 JULY 2024

2024
2023
Note
£
£

Fixed assets
  

Investment property
 4 
9,178,526
9,195,526

  
9,178,526
9,195,526

Current liablities
  

Debtors: amounts falling due after more than one year
 5 
-
250,000

Debtors: amounts falling due within one year
 5 
53,998
66,964

Cash at bank and in hand
 6 
147,744
186,724

Current liablities
  
201,742
503,688

Creditors: amounts falling due within one year
 7 
(898,651)
(974,232)

Net current liabilities
  
 
 
(696,909)
 
 
(470,544)

Total assets less current liabilities
  
8,481,617
8,724,982

Creditors: amounts falling due after more than one year
 8 
(5,733,323)
(6,066,573)

Net assets
  
2,748,294
2,658,409


Capital and reserves
  

Called up share capital 
 10 
100
100

Profit and loss account
  
2,748,194
2,658,309

  
2,748,294
2,658,409


The Directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

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 financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

Page 1

 
POLYSTAR PLASTICS (HOLDINGS) LIMITED
REGISTERED NUMBER: 08495431

BALANCE SHEET (CONTINUED)
AS AT 31 JULY 2024

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 


J Talwar
Director

Date: 25 April 2025

The notes on pages 3 to 8 form part of these financial statements.

Page 2

 
POLYSTAR PLASTICS (HOLDINGS) LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

1.


General information

Polystar Plastics Holdings Limited is a limited liability company incorporated in England and Wales. The address of its registered office and principal place of business is Peel House, Peel Street, Northam, Southampton, SO14 5QT.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. 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 preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies.

 
2.2

Revenue

Revenue comprises rental income and is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. 

 
2.3

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


 
2.4

Investment property

Investment property is carried at fair value determined annually by external valuers and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in profit or loss.

Page 3

 
POLYSTAR PLASTICS (HOLDINGS) LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

2.Accounting policies (continued)

 
2.5

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.6

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.7

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.8

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liablities like trade and other debtors and creditors, loans from banks and other third parties and loans to related parties.

 
2.9

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Employees

The average monthly number of employees, including directors, during the year was 4 (2023 - 4).

Page 4

 
POLYSTAR PLASTICS (HOLDINGS) LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

4.


Investment property


Freehold investment property

£



Valuation


At 1 August 2023
9,195,526


Transfers
(17,000)



At 31 July 2024
9,178,526


Comprising


Cost
12,583,941



Annual revaluation (deficit): 2022
(478,415)

Transfers
(2,927,000)

At 31 July 2024
9,178,526

The 2024 valuations were made by the Directors, on an open market value for existing use basis.




Page 5

 
POLYSTAR PLASTICS (HOLDINGS) LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

5.


Debtors

2024
2023
£
£

Due after more than one year

Amounts due from related companies
-
250,000


2024
2023
£
£

Trade debtors
36,735
39,972

Other debtors
10,100
10,100

Prepayments and accrued income
7,163
16,892

53,998
66,964



6.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
147,744
186,724



7.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank loans
770,808
770,808

Trade creditors
20,781
17,185

Corporation tax
40,198
101,726

Other taxation and social security
13,608
16,765

Other creditors
53,256
67,748

898,651
974,232



8.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Bank loans
5,423,323
6,066,573

Amounts owed to related companies
310,000
-

5,733,323
6,066,573


Page 6

 
POLYSTAR PLASTICS (HOLDINGS) LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

9.


Loans


Analysis of the maturity of loans is given below:


2024
2023
£
£

Amounts falling due within one year

Bank loans
770,808
770,808


770,808
770,808

Amounts falling due 1-2 years

Bank loans
812,876
812,876


812,876
812,876

Amounts falling due 2-5 years

Bank loans
2,481,586
2,643,004


2,481,586
2,643,004

Amounts falling due after more than 5 years

Bank loans
2,128,861
2,610,693

2,128,861
2,610,693

6,194,131
6,837,381


Secured loans
Bank loans are secured by fixed and floating charges over the assets of the Company.

Page 7

 
POLYSTAR PLASTICS (HOLDINGS) LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

10.


Share capital

2024
2023
£
£
Allotted, called up and partly paid



100 (2023 - 100) Ordinary shares of £1 each
100
100



11.


Related party transactions

Talwars Private Estates Limited is the holding company of Polystar Plastics (Holdings) Limited. At the balance sheet date £10,000 (2023 - £NIL) was due from Polystar Plastics (Holdings) Limited to Talwars Private Estates Limited. These amounts are without security and are interest free.
Polystar Plastics (Holdings) Limited and Polystar Plastics Limited are companies under common control. At the balance sheet date £300,000 (2023 - £250,000 owed from Polystar Plastics Limited) was due from Polystar Plastics (Holdings) Limited to Polystar Plastics Limited. These amounts are without security and are interest free.
Polystar Plastics (Holdings) Limited received rent and other income of £NIL (2023 - £216,733) from Polystar Plastics Limited.



Page 8