Company No: 07260621 (England and Wales)

Contents

• Balance Sheet
• Notes to the Financial Statements

	Note	2025		2024
		£		£
Fixed assets
Intangible assets	3	1		1
Tangible assets	4	6,505,063		2,590,896
		6,505,064		2,590,897
Current assets
Stocks	5	22,794		24,558
Debtors	6	18,060		49,678
Cash at bank and in hand		922,711		751,536
		963,565		825,772
Creditors: amounts falling due within one year	7	( 3,242,155)		( 762,322)
Net current (liabilities)/assets		(2,278,590)		63,450
Total assets less current liabilities		4,226,474		2,654,347
Creditors: amounts falling due after more than one year	8	( 1,191,667)		( 115,500)
Provision for liabilities		( 257,841)		( 288,536)
Net assets		2,776,966		2,250,311
Capital and reserves
Called-up share capital	9	101		101
Profit and loss account		2,776,865		2,250,210
Total shareholders' funds		2,776,966		2,250,311

For the financial year ending 31 March 2025 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

• The members have not required the Company to obtain an audit of its financial statements for the financial year 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; and
• These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Statement of Income and Retained Earnings has not been delivered.

The financial statements of Polmanter Limited (registered number: 07260621) were approved and authorised for issue by the Board of Directors on 03 October 2025. They were signed on its behalf by:

Mr P Osborne Director

1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Polmanter Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Lowin House, Tregolls Road, Truro, TR1 2NA, United Kingdom. The principal place of business is Polmanter Touring Park, St Ives, Cornwall, TR26 3LX.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Turnover

Turnover is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer. Turnover from the sale of goods is recognised when the goods are physically delivered to the customer. Revenue from services is recognised as they are delivered.

Employee benefits

Defined contribution schemes
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

Finance costs

Finance costs are charged to the Statement of Income and Retained Earnings over the term of the debt using the effective interest method so 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.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on tax rates and laws substantively enacted at the balance sheet date. Deferred tax assets and liabilities are not discounted.

Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Goodwill

not amortised

Goodwill

Goodwill arises on business combination and represents any excess of consideration given over the fair value of the identifiable assets and liabilities acquired. Goodwill is initially recognised as an intangible asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Land and buildings	not depreciated
Leasehold improvements	4 - 10 years straight line
Plant and machinery	10 % reducing balance
	3 years straight line
Vehicles	20 % reducing balance
Fixtures and fittings	10 % reducing balance
Computer equipment	3 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Leases

The Company as lessee
Assets held under finance leases, hire purchase contracts and other similar arrangements, which confer rights and obligations similar to those attached to owned assets, are capitalised as tangible fixed assets at the fair value of the leased asset (or, if lower, the present value of the minimum lease payments as determined at the inception of the lease) and are depreciated over the shorter of the lease terms and their useful lives. The capital elements of future lease obligations are recorded as liabilities, while the interest elements are charged to the Statement of Income and Retained Earnings over the period of the leases to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

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 creditors: amounts falling due within one year.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

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.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets receivable within one year, such as trade debtors and bank balances, are measured at transaction price less any impairment.

Basic financial assets receivable within more than one year are measured at amortised cost less any impairment.

Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Basic financial liabilities
Basic financial liabilities that have no stated interest rate and are payable within one year, such as trade creditors, are measured at transaction price.

Other basic financial liabilities are measured at amortised cost.

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

Ordinary share capital

The ordinary share capital of the Company is presented as equity.

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.

2. Employees

	2025		2024
	Number		Number
Monthly average number of persons employed by the Company during the year, including directors	29		25

3. Intangible assets

	Goodwill		Total
	£		£
Cost
At 01 April 2024	1		1
At 31 March 2025	1		1
Accumulated amortisation
At 01 April 2024	0		0
At 31 March 2025	0		0
Net book value
At 31 March 2025	1		1
At 31 March 2024	1		1

4. Tangible assets

	Land and buildings		Leasehold improve- ments		Plant and machinery		Vehicles		Fixtures and fittings		Computer equipment		Total
	£		£		£		£		£		£		£
Cost
At 01 April 2024	1,197,691		2,325,402		567,855		150,740		536,081		34,242		4,812,011
Additions	4,063,348		9,499		28,216		21,618		6,960		7,218		4,136,859
Disposals	0		0		0		( 45,251)		0		0		( 45,251)
At 31 March 2025	5,261,039		2,334,901		596,071		127,107		543,041		41,460		8,903,619
Accumulated depreciation
At 01 April 2024	0		1,607,100		254,616		92,788		242,450		24,161		2,221,115
Charge for the financial year	0		128,665		32,625		12,205		29,363		6,548		209,406
Disposals	0		0		0		( 31,965)		0		0		( 31,965)
At 31 March 2025	0		1,735,765		287,241		73,028		271,813		30,709		2,398,556
Net book value
At 31 March 2025	5,261,039		599,136		308,830		54,079		271,228		10,751		6,505,063
At 31 March 2024	1,197,691		718,302		313,239		57,952		293,631		10,081		2,590,896

5. Stocks

	2025		2024
	£		£
Stocks	22,794		24,558

6. Debtors

	2025		2024
	£		£
Other debtors	18,060		49,678

7. Creditors: amounts falling due within one year

	2025		2024
	£		£
Bank loans (secured)	86,667		99,000
Trade creditors	24,974		56,878
Taxation and social security	295,601		156,354
Obligations under finance leases and hire purchase contracts (secured)	0		8,047
Other creditors	2,834,913		442,043
	3,242,155		762,322

The bank loan is secured by way of fixed and floating charges and a negative pledge held by Handelsbanken plc. The chargor is also acting as a bare trustee for the property held by Polmanter Limited.

Assets held under finance leases and hire purchase contracts are secured on the assets to which they relate.

8. Creditors: amounts falling due after more than one year

	2025		2024
	£		£
Bank loans (secured)	1,191,667		115,500

The bank loan is secured by way of fixed and floating charges and a negative pledge held by Handelsbanken plc. The chargor also is also acting as a bare trustee for the property held by Polmanter Limited.

9. Called-up share capital

	2025		2024
	£		£
Allotted, called-up and fully-paid
1,000 Ordinary shares of £ 0.10 each	100		100
1 Preference share of £ 1.00	1		1
	101		101

10. Related party transactions

Mr J B Osborne

	2025		2024
	£		£
Balance brought forward	1,044		30,980
Capital introduced	(680,183)		(77,927)
Drawings	528,614		47,991
	(150,525)		1,044

The loan is interest free, unsecured and repayable on demand.