Company No: 03023715 (England and Wales)

Contents

• Balance Sheet
• Notes to the Financial Statements

	Note	2025		2024
		£		£
Fixed assets
Tangible assets	3	48,374		61,816
		48,374		61,816
Current assets
Stocks	4	319,367		410,601
Debtors	5	1,019,264		422,314
Cash at bank and in hand		214,310		552,022
		1,552,941		1,384,937
Creditors: amounts falling due within one year	6	( 583,592)		( 574,469)
Net current assets		969,349		810,468
Total assets less current liabilities		1,017,723		872,284
Provision for liabilities		( 7,961)		( 11,201)
Net assets		1,009,762		861,083
Capital and reserves
Called-up share capital		100		100
Capital redemption reserve		4		4
Profit and loss account		1,009,658		860,979
Total shareholder's funds		1,009,762		861,083

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 member has 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 Profit and Loss Account has not been delivered.

The financial statements of Polham Controls Ltd (registered number: 03023715) were approved and authorised for issue by the Board of Directors on 08 December 2025. They were signed on its behalf by:

P Kimber Director		D J Durant Director
G Deaton 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

Polham Controls Ltd (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 Block E Bath Bridge, Business Park, 98a Bath Road Bridgwater, TA6 4SZ, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include 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 comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Employee benefits

Defined contribution schemes
The Company operates a defined contribution scheme. The amount charged to the Profit and Loss Account in respect of pension costs and other post-retirement benefits is the contributions payable in the financial year. Differences between contributions payable in the financial year and contributions actually paid are included as either accruals or prepayments in the Balance Sheet.

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. Tax is recognised in the profit and loss account, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

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 tax rates and laws that have been enacted or substantively enacted by the Balance Sheet date that are expected to apply when the timing differences reverse. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit. Deferred tax liabilities are presented within provisions for liabilities on the balance sheet.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation. 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:

Plant and machinery	25 % reducing balance
Vehicles	5 years straight line
Fixtures and fittings	25 % reducing balance

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.

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.

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 Profit and Loss Account 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.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Profit and Loss Account as described below.

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 includes materials, direct labour and an attributable proportion of manufacturing overheads based on normal levels of activity. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

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. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

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	15		12

3. Tangible assets

	Plant and machinery		Vehicles		Fixtures and fittings		Total
	£		£		£		£
Cost
At 01 April 2024	225,058		34,505		108,390		367,953
Additions	0		0		2,376		2,376
At 31 March 2025	225,058		34,505		110,766		370,329
Accumulated depreciation
At 01 April 2024	201,097		34,505		70,535		306,137
Charge for the financial year	5,990		0		9,828		15,818
At 31 March 2025	207,087		34,505		80,363		321,955
Net book value
At 31 March 2025	17,971		0		30,403		48,374
At 31 March 2024	23,961		0		37,855		61,816

4. Stocks

	2025		2024
	£		£
Stocks	319,367		410,601

5. Debtors

	2025		2024
	£		£
Trade debtors	866,519		360,496
Amounts owed by directors	51,692		1,080
Prepayments	7,407		4,394
Other debtors	93,646		56,344
	1,019,264		422,314

6. Creditors: amounts falling due within one year

	2025		2024
	£		£
Trade creditors	348,168		310,749
Accruals	7,998		18,062
Taxation and social security	227,322		242,855
Other creditors	104		2,803
	583,592		574,469

7. Financial commitments

Commitments

The total amount of financial commitments not included in the balance sheet is £35,795 (2024 - £29,316). The commitments relate the lease of the company's motor vehicles

8. Related party transactions

Transactions with the entity's directors

The Directors' loan account is repayable on demand, and interest is charged on overdrawn balances exceeding £10,000 at the official HMRC rates.

At 1 April 2024, the balance owed by director 1 was £360 (2024: £360). During the year, £564 (2024: £360) was advanced to the director, and £360 (2024: £360) was repaid by the director. At 31 March 2025, the balance owed by director 1 was £564 (2024: £360).

At 1 April 2024, the balance owed by director 2 was £360 (2024: £360). During the year, £564 (2024: £360) was advanced to the director, and £360 (2024: £360) was repaid by the director. At 31 March 2025, the balance owed by director 2 was £564 (2024: £360).

At 1 April 2024, the balance owed by director 3 was £360 (2024: £360). During the year, £50,564 (2024: £360) was advanced to the director, and £360 (2024: £360) was repaid by the director. At 31 March 2025, the balance owed by director 3 was £50,564 (2024: £360).