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Registered number: 01781726









POLYTEC PERSONNEL LIMITED

UNAUDITED

FINANCIAL STATEMENTS
INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MARCH 2025

 
POLYTEC PERSONNEL LIMITED
REGISTERED NUMBER: 01781726

BALANCE SHEET
AS AT 31 MARCH 2025

2025
2024
Note
£
£

Fixed assets
  

Tangible assets
 4 
35,410
44,266

Current assets
  

Stocks
  
36,998
32,843

Debtors: amounts falling due within one year
 5 
207,123
294,693

Cash at bank and in hand
 6 
1,152,440
1,159,286

  
1,396,561
1,486,822

Creditors: amounts falling due within one year
 7 
(379,561)
(387,106)

Net current assets
  
 
 
1,017,000
 
 
1,099,716

Total assets less current liabilities
  
1,052,410
1,143,982

Provisions for liabilities
  

Deferred Taxation
  
(8,062)
(10,259)

  
 
 
(8,062)
 
 
(10,259)

Net assets
  
1,044,348
1,133,723


Capital and reserves
  

Called up share capital 
 9 
9,400
9,400

Capital redemption reserve
  
600
600

Profit and loss account
  
1,034,348
1,123,723

  
1,044,348
1,133,723


Page 1

 
POLYTEC PERSONNEL LIMITED
REGISTERED NUMBER: 01781726

BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2025

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 income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 8 June 2025.




K R Young
Director

The notes on pages 3 to 9 form part of these financial statements.

Page 2

 
POLYTEC PERSONNEL LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025

1.


General information

Polytec Personnel Limited is a private company limited by shares incorporated in England and Wales, United Kingdom. The address of the registered office is Orwell House, Cowley Road, Cambridge, CB4 0PP. The nature of the company's operations continue to be that of employment agents for the supply of permanent and temporary engineering staff.

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 Company's functional and presentational currency is pound sterling. 
The level of rounding applied by the Company is to the nearest £.

The following principal accounting policies have been applied:

 
2.2

Going concern

The directors consider that the resources available to the Company will be sufficient for it to be able
to continue as a going concern for a period of at least twelve months from approval of the financial
statements.

 
2.3

Turnover

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the Company and the turnover can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before turnover is recognised:

Rendering of services

Turnover from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of turnover can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.4

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

 
2.5

Interest income

Interest income is recognised in profit or loss using the effective interest method.

Page 3

 
POLYTEC PERSONNEL LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025

2.Accounting policies (continued)

 
2.6

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.7

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
2.8

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. 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 corporation 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.


 
2.9

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Page 4

 
POLYTEC PERSONNEL LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025

2.Accounting policies (continued)


2.9
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Motor vehicles
-
8 years straight line
Fixtures and fittings
-
6.5  years straight line
Office equipment
-
4 years straight line
Computer equipment and software
-
3 years straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.10

Work in progress

Work in progress is valued at the lower of cost and net realisable value.

 
2.11

Debtors

Short-term debtors are measured at transaction price, less any impairment. 

 
2.12

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.

 
2.13

Creditors

Short-term creditors are measured at the transaction price. 

 
2.14

Holiday pay accrual

A liability is recognised to the extent of any unused holiday pay entitlement which is accrued at the balance sheet date and carried forward to future periods. This is measured at the undiscounted salary cost of the future holiday entitlement so accrued at the balance sheet date.

 
2.15

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.

Page 5

 
POLYTEC PERSONNEL LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025

2.Accounting policies (continued)

 
2.16

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the Company's Balance Sheet when the Company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include trade and other debtors, cash and bank balances, are initially measured at their transaction price (adjusted for transaction costs except in the initial measurement of financial assets that are subsequently measured at fair value through profit and loss) and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other debtors due with the operating cycle fall into this category of financial instruments.

 
2.17

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 53 (2024 - 64).

Page 6

 
POLYTEC PERSONNEL LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025

4.


Tangible fixed assets





Plant and machinery etc

£



Cost


At 1 April 2024
246,949


Additions
15,990


Disposals
(70,322)



At 31 March 2025

192,617



Depreciation


At 1 April 2024
202,683


Charge for the year on owned assets
24,846


Disposals
(70,322)



At 31 March 2025

157,207



Net book value



At 31 March 2025
35,410



At 31 March 2024
44,266


5.


Debtors

2025
2024
£
£


Trade debtors
158,677
246,807

Other debtors
15,200
20,300

Prepayments and accrued income
33,246
27,586

207,123
294,693



6.


Cash and cash equivalents

2025
2024
£
£

Cash at bank and in hand
1,152,440
1,159,286


Page 7

 
POLYTEC PERSONNEL LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025

7.


Creditors: Amounts falling due within one year

2025
2024
£
£

Trade creditors
1,147
3,013

Corporation tax
37,169
67,342

Other taxation and social security
112,021
149,670

Other creditors
167,117
117,824

Accruals and deferred income
62,107
49,257

379,561
387,106



8.


Deferred taxation




2025


£






At beginning of year
(10,259)


Charged to profit or loss
2,197



At end of year
(8,062)

The provision for deferred taxation is made up as follows:

2025
2024
£
£


Accelerated capital allowances
8,853
11,124

Other timing differences
(791)
(865)

8,062
10,259

Page 8

 
POLYTEC PERSONNEL LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025

9.


Share capital

2025
2024
£
£
Allotted, called up and fully paid



4,700 (2024 - 4,700) Ordinary shares of £1.00 each
4,700
4,700
4,700 (2024 - 4,700) Ordinary A shares of £1.00 each
4,700
4,700

9,400

9,400



10.


Pension commitments

The company operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. The pension cost charge represents contributions payable by the company to the fund and amounted to £88,586 (2024 - £92,628).
Contributions of £3,163 (2024 - £3,458) were payable to the fund at the balance sheet date and are included in creditors.


11.


Related party transactions

The company has a loan outstanding payable to K R Young, a director of the company.
During the year, funds totalling £54,700 were introduced and funds totalling £59,313 were repaid to K R Young. The amount due to K R Young at the year end was £32,513 (2024 - £37,126) and is included in other creditors. There are no formal terms for this loan which is interest free and repayable on demand.
The company has a loan outstanding payable to C A Ward, a director of the company.
During the year, funds totalling £157,250 were introduced and funds totalling £107,096 were repaid to C A Ward. The amount due to C A Ward at the year end was £99,358 (2024 - £49,204) and is included in other creditors. There are no formal terms for this loan which is interest free and repayable on demand.
During the year the company paid dividends of £43,000 (2024 - £72,000) to K R Young, a director of the company.
During the year the company paid dividends of £157,250 (2024 - £75,500) to C A Ward, a director of the company.


12.


Post balance sheet events

Since the year end, the Company has had no significant events.


13.


Controlling party

There is no ultimate controlling party. 


Page 9