2023-07-012024-06-302024-06-30false11423850POLUNIN INK 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POLUNIN INK LIMITED

Registered Number
11423850
(England and Wales)

Unaudited Financial Statements for the Year ended
30 June 2024

POLUNIN INK LIMITED
Company Information
for the year from 1 July 2023 to 30 June 2024

Directors

Zrnka Petrovic
Sergii Polunin

Registered Address

101 New Cavendish Street
1st Floor South
London
W1W 6XH

Registered Number

11423850 (England and Wales)
POLUNIN INK LIMITED
Balance Sheet as at
30 June 2024

Notes

2024

2023

£

£

£

£

Current assets
Debtors31,5011,222
Cash at bank and on hand35921,739
1,86022,961
Creditors amounts falling due within one year4(58,245)(56,817)
Net current assets (liabilities)(56,385)(33,856)
Total assets less current liabilities(56,385)(33,856)
Net assets(56,385)(33,856)
Capital and reserves
Called up share capital11
Profit and loss account(56,386)(33,857)
Shareholders' funds(56,385)(33,856)
The financial statements were approved and authorised for issue by the Board of Directors on 29 April 2025, and are signed on its behalf by:
Zrnka Petrovic
Director
Registered Company No. 11423850
POLUNIN INK LIMITED
Notes to the Financial Statements
for the year ended 30 June 2024

1.Accounting policies
Statutory information
Polunin Ink Limited is a private company, limited by shares, domiciled in England and Wales, (registered number: 11423850). The registered office is 101 New Cavendish Street, 1st Floor South, London, W1W 6XH.
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).
Going concern
In assessing the ability of the company to operate as a going concern, management have evaluated current and forecasted operational results, and the solvency of the company. Given that the company is in a net deficit position the director has obtained assurances from the beneficial owner to continue to provide adequate funds to meets its obligations, and not to demand repayment of any funds due to them, until the company is in a financial position to do so. As a result, the director considers it appropriate to prepare the financial statements on a going concern basis. Accordingly the director has continued to prepare the financial statements on the going concern basis.
Revenue from rendering of services
Revenue 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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
Interest income
Interest income is recognised using the effective interest rate method.
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.
Trade and other 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.
Cash and cash equivalents
Cash and cash equivalents comprise cash at bank and on hand, demand deposits with banks and other short-term highly liquid investments with original maturities of three months or less. Bank overdrafts are disclosed separately. For the purpose of the cash flow statement, bank overdrafts form an integral part of the company's cash management and are included as a component of cash and cash equivalents.
Trade and other 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.
2.Average number of employees

20242023
Average number of employees during the year22
3.Debtors: amounts due within one year

2024

2023

££
Other debtors1,5011,222
Total1,5011,222
4.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables23,32530,115
Other creditors32,81924,202
Accrued liabilities and deferred income2,1012,500
Total58,24556,817
5.Related party transactions
Other creditors includes £7,407 (2023: £7,006) owed to the directors.