Company registration number 02801277 (England and Wales)
POLYMER COMPOUNDERS LIMITED
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
PAGES FOR FILING WITH REGISTRAR
POLYMER COMPOUNDERS LIMITED
COMPANY INFORMATION
Directors
Mr J Gibson
Mr G Houlder
Mr AJ Fallows
Company number
02801277
Registered office
Unit 21
Belasis Court
Belasis Hall Technology Park
Billingham
TS23 4AZ
Accountants
Benson Wood Ltd
Unit 21
Belasis Court
Belasis Hall Technology Park
Billingham
TS23 4AZ
Business address
Edwardson Road
Meadowfield Industrial Estate
Durham
Co. Durham
DH7 8RL
POLYMER COMPOUNDERS LIMITED
CONTENTS
Page
Directors' report
1
Accountants' report
2
Balance sheet
3 - 4
Notes to the financial statements
5 - 11
POLYMER COMPOUNDERS LIMITED
DIRECTORS' REPORT
FOR THE YEAR ENDED 31 MARCH 2025
- 1 -
The directors present their annual report and financial statements for the year ended 31 March 2025.
Principal activities
The principal activity of the company continued to be that of plastic and polymer production.
Directors
The directors who held office during the year and up to the date of signature of the financial statements were as follows:
Mr J Gibson
Mr G Houlder
Mr AJ Fallows
Small companies exemption
This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.
On behalf of the board
Mr J Gibson
Director
8 August 2025
POLYMER COMPOUNDERS LIMITED
REPORT TO THE DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY ACCOUNTS OF POLYMER COMPOUNDERS LIMITED
- 2 -
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Polymer Compounders Limited for the year ended 31 March 2025 which comprise, the balance sheet and the related notes from the company’s accounting records and from information and explanations you have given us.
As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at https://www.accaglobal.com/gb/en/member/standards/rules-and-standards/rulebook.html.
This report is made solely to the board of directors of Polymer Compounders Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the financial statements of Polymer Compounders Limited and state those matters that we have agreed to state to the board of directors of Polymer Compounders Limited, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at https://www.accaglobal.com/content/dam/ACCA_Global/Technical/fact/technical-factsheet-163.pdf. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Polymer Compounders Limited and its board of directors as a body for our work or for this report.
It is your duty to ensure that Polymer Compounders Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Polymer Compounders Limited. You consider that Polymer Compounders Limited is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the financial statements of Polymer Compounders Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
Benson Wood Ltd
Chartered Certified Accountants
Unit 21
Belasis Court
Belasis Hall Technology Park
Billingham
TS23 4AZ
8 August 2025
POLYMER COMPOUNDERS LIMITED
BALANCE SHEET
AS AT
31 MARCH 2025
31 March 2025
- 3 -
2025
2024
Notes
£
£
£
£
Fixed assets
Tangible assets
4
434,676
462,981
Investments
3
30,000
464,676
462,981
Current assets
Stocks
1,093,472
974,021
Debtors
5
1,657,393
1,220,372
Cash at bank and in hand
281,357
586,564
3,032,222
2,780,957
Creditors: amounts falling due within one year
6
(1,180,783)
(1,049,707)
Net current assets
1,851,439
1,731,250
Total assets less current liabilities
2,316,115
2,194,231
Creditors: amounts falling due after more than one year
7
(100,000)
(100,000)
Provisions for liabilities
(58,547)
(65,097)
Net assets
2,157,568
2,029,134
Capital and reserves
Called up share capital
100,000
100,000
Profit and loss reserves
2,057,568
1,929,134
Total equity
2,157,568
2,029,134
POLYMER COMPOUNDERS LIMITED
BALANCE SHEET (CONTINUED)
AS AT
31 MARCH 2025
31 March 2025
- 4 -
For the financial year ended 31 March 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
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.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true
The financial statements were approved by the board of directors and authorised for issue on 8 August 2025 and are signed on its behalf by:
Mr J Gibson
Director
Company registration number 02801277 (England and Wales)
POLYMER COMPOUNDERS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
- 5 -
1
Accounting policies
Company information
Polymer Compounders Limited is a private company limited by shares incorporated in England and Wales. The registered office is Unit 21, Belasis Court, Belasis Hall Technology Park, Billingham, TS23 4AZ.
1.1
Basis of preparation
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. 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 financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Turnover
Revenue comprises sales of goods or services provided to customers net of value added tax and other sales taxes, less an appropriate deduction for actual and expected returns and discounts. Revenue is recognised when performance obligations are satisfied and the control of goods or services is transferred to the buyer. Where the performance obligation is satisfied over time, revenue is recognised in accordance with its progress towards complete satisfaction of that performance obligation.
When cash inflows are deferred and represent a financing arrangement, the promised consideration is adjusted for the effects of the time value of money, which is recognised as interest income.
The nature, timing of satisfaction of performance obligations and significant payment terms of the company's major sources of revenue are as follows:
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.
1.3
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Freehold land and buildings
1% straight line
Plant and equipment
15% on reducing balance, 20% & 25% straight line
Fixtures and fittings
20% on reducing balance
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
POLYMER COMPOUNDERS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
1
Accounting policies
(Continued)
- 6 -
1.4
Fixed asset investments
Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.
A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.
An associate is an entity, being neither a subsidiary nor a joint venture, in which the company holds a long-term interest and where the company has significant influence. The company considers that it has significant influence where it has the power to participate in the financial and operating decisions of the associate.
Entities in which the company has a long term interest and shares control under a contractual arrangement are classified as jointly controlled entities.
1.5
Impairment of fixed assets
At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.
Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.
If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.
1.6
Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.
Stocks held for distribution at no or nominal consideration are measured at the lower of cost and replacement cost, adjusted where applicable for any loss of service potential.
1.7
Cash and cash equivalents
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
POLYMER COMPOUNDERS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
1
Accounting policies
(Continued)
- 7 -
1.8
Financial instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ 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 debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method 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. Financial assets classified as receivable within one year are not amortised.
Classification of financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
1.9
Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.
1.10
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
POLYMER COMPOUNDERS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
1
Accounting policies
(Continued)
- 8 -
Deferred tax
Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.
The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.
1.11
Employee benefits
The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.
Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.
1.12
Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
1.13
Leases
As lessee
Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.
1.14
Foreign exchange
Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2025
2024
Number
Number
Total
31
30
POLYMER COMPOUNDERS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
- 9 -
3
Fixed asset investments
2025
2024
£
£
Other investments other than loans
30,000
Movements in fixed asset investments
Investments
£
Cost or valuation
At 1 April 2024
-
Additions
30,000
At 31 March 2025
30,000
Carrying amount
At 31 March 2025
30,000
At 31 March 2024
-
4
Tangible fixed assets
Land and buildings
Plant and machinery etc
Total
£
£
£
Cost
At 1 April 2024
204,225
1,324,487
1,528,712
Additions
17,676
17,676
Disposals
(28,020)
(28,020)
At 31 March 2025
204,225
1,314,143
1,518,368
Depreciation and impairment
At 1 April 2024
2,042
1,063,689
1,065,729
Depreciation charged in the year
2,042
43,941
45,983
Eliminated in respect of disposals
(28,020)
(28,020)
At 31 March 2025
4,084
1,079,608
1,083,692
Carrying amount
At 31 March 2025
200,141
234,535
434,676
At 31 March 2024
202,183
260,798
462,981
POLYMER COMPOUNDERS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
- 10 -
5
Debtors
2025
2024
Amounts falling due within one year:
£
£
Trade debtors
1,181,668
1,128,867
Other debtors
475,725
91,505
1,657,393
1,220,372
6
Creditors: amounts falling due within one year
2025
2024
£
£
Trade creditors
840,694
673,900
Taxation and social security
168,063
146,243
Other creditors
172,026
229,564
1,180,783
1,049,707
7
Creditors: amounts falling due after more than one year
2025
2024
£
£
Other creditors
100,000
100,000
8
Related party transactions
Transactions with related parties
During the year the company entered into the following transactions with related parties:
Loan interest
2025
2024
£
£
Entities with control, joint control or significant influence over the company
4,496
4,513
2025
2024
Amounts due to related parties
£
£
Entities with control, joint control or significant influence over the company
100,000
100,000
POLYMER COMPOUNDERS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
- 11 -
9
Directors' transactions
At the balance sheet date there was a balance due to the directors of £130,006 (2024: £197,788). The loan is repayable on demand.
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