| REGISTERED NUMBER: |
| Financial Statements for the Period 21 August 2023 to 31 December 2024 |
| for |
| Polene UK Ltd |
| REGISTERED NUMBER: |
| Financial Statements for the Period 21 August 2023 to 31 December 2024 |
| for |
| Polene UK Ltd |
| Polene UK Ltd (Registered number: 15085469) |
| Contents of the Financial Statements |
| for the Period 21 August 2023 to 31 December 2024 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 3 |
| Polene UK Ltd |
| Company Information |
| for the Period 21 August 2023 to 31 December 2024 |
| DIRECTOR: |
| SECRETARY: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| AUDITORS: |
| Chartered Accountants |
| 114 St Martin’s Lane |
| Covent Garden |
| London |
| WC2N 4BE |
| Polene UK Ltd (Registered number: 15085469) |
| Balance Sheet |
| 31 December 2024 |
| Notes | £ | £ |
| FIXED ASSETS |
| Tangible assets | 5 |
| CURRENT ASSETS |
| Stocks |
| Debtors | 6 |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 7 |
| NET CURRENT LIABILITIES | ( |
) |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year |
8 |
| NET LIABILITIES | ( |
) |
| CAPITAL AND RESERVES |
| Called up share capital |
| Retained earnings | ( |
) |
| ( |
) |
| The financial statements were approved by the director and authorised for issue on |
| Polene UK Ltd (Registered number: 15085469) |
| Notes to the Financial Statements |
| for the Period 21 August 2023 to 31 December 2024 |
| 1. | STATUTORY INFORMATION |
| Polene UK Ltd is a |
| The presentation currency of the financial statements is the Pound Sterling (£). |
| 2. | CRITICAL ACCOUNTING JUDGEMENTS & KEY SOURCES OF ESTIMATION UNCERTAINTY |
| In the application of the company's accounting policies, the directors are required to make |
| judgements, estimates and assumptions about the carrying amount of assets and liabilities |
| that are not readily apparent from other sources. The estimates and associated assumptions |
| are based on historical experience and other factors that are considered to be relevant. |
| Actual results may differ from these estimates. |
| The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to |
| accounting estimates are recognized in the period in which the estimate is revised where the |
| revision affects only that period, or in the period of the revision and future periods where the |
| revision affects both current and future periods. |
| 3. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| The financial statements have been prepared under the historical cost convention. |
| These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" relevant to a company following the small entity regime and the Companies Act 2006. |
| These accounts are individual financial statements and do not form part of a group accounts. |
| All amounts are rounded to the nearest £ |
| Turnover |
| Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
| Tangible fixed assets |
| Improvements to Property - Straight Line over 5, 8 or 10 years. |
| Computer Equipment - Straight Line over 3 years. |
| Polene UK Ltd (Registered number: 15085469) |
| Notes to the Financial Statements - continued |
| for the Period 21 August 2023 to 31 December 2024 |
| 3. | ACCOUNTING POLICIES - continued |
| Stocks |
| Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. |
| Stocks are stated at the lower of cost and net realisable value, being the estimated selling |
| price less costs to complete and sell. Cost Is based on the cost of purchase on a first in, first |
| out basis. Work in progress and finished goods include labour and attributable overheads. |
| At each reporting date, stocks are assessed for impairment. If stock is impaired, the carrying |
| amount is reduced to its selling price less costs to complete and sell. The impairment loss is |
| recognised immediately in profit or loss. |
| Polene UK Ltd (Registered number: 15085469) |
| Notes to the Financial Statements - continued |
| for the Period 21 August 2023 to 31 December 2024 |
| 3. | ACCOUNTING POLICIES - continued |
| 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, loans to fellow group companies, 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, accruals and loans from fellow group companies 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. |
| Basic financial liabilities - continued |
| Trade creditors are obligations to pay for goods and 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. |
| Polene UK Ltd (Registered number: 15085469) |
| Notes to the Financial Statements - continued |
| for the Period 21 August 2023 to 31 December 2024 |
| 3. | ACCOUNTING POLICIES - continued |
| Taxation |
| Taxation for the period comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
| Current or deferred taxation assets and liabilities are not discounted. |
| Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date. |
| Deferred tax |
| Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. |
| Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the period end and that are expected to apply to the reversal of the timing difference. |
| 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. |
| Foreign currencies |
| Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result. |
| The non-monetary items are measured at historical cost and translated at the exchange rate on the date of transaction. |
| Hire purchase and leasing commitments |
| Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease. |
| Going concern |
| The directors have a reasonable expectation that the Company has adequate resources to |
| continue in operational existence for the foreseeable future and as such, consider it |
| appropriate to prepare financial statements on the going concern basis. |
| 4. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the period was |
| Polene UK Ltd (Registered number: 15085469) |
| Notes to the Financial Statements - continued |
| for the Period 21 August 2023 to 31 December 2024 |
| 5. | TANGIBLE FIXED ASSETS |
| Improvements | Fixtures |
| to | and |
| property | fittings | Totals |
| £ | £ | £ |
| COST |
| Additions |
| At 31 December 2024 |
| DEPRECIATION |
| Charge for period |
| At 31 December 2024 |
| NET BOOK VALUE |
| At 31 December 2024 |
| 6. | DEBTORS |
| £ |
| Amounts falling due within one year: |
| Trade debtors |
| Other debtors |
| Amounts falling due after more than one year: |
| Other debtors |
| Aggregate amounts |
| 7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| £ |
| Bank loans and overdrafts |
| Trade creditors |
| Amounts owed to group undertakings |
| PAYE | 10,418 |
| VAT | 496,752 |
| Other creditors |
| Accruals |
| Deferred income |
| Amounts owed to Group Undertakings are unsecured, interest free and are repayable on demand. |
| Polene UK Ltd (Registered number: 15085469) |
| Notes to the Financial Statements - continued |
| for the Period 21 August 2023 to 31 December 2024 |
| 8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| £ |
| Accruals |
| 9. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
| The Report of the Auditors was unqualified. |
| for and on behalf of |
| 10. | RELATED PARTY DISCLOSURES |
| The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group. |
| 11. | ULTIMATE CONTROLLING PARTY |
| The company's immediate and ultimate controlling parent company is La Casette SAS, a company incorporated in France, whose registered address is 5 Rue de la Rochefoucauld, 75009, Paris, France. |
| 12. | DIVIDENDS |
| The dividends declared and paid during the period was nil. |