REGISTERED NUMBER: 02635598 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 March 2025

for

Polysafe Level Crossing Systems Limited

Page

Company Information

1

Chartered Accountants' Report

2

Balance Sheet

3

Notes to the Financial Statements

5

DIRECTORS:

M G Austin

R E Hiblin

SECRETARY:

R E Hiblin

REGISTERED OFFICE:

King Street Industrial Estate

Langtoft

Peterborough

Cambridgeshire

PE6 9NF

REGISTERED NUMBER:

02635598 (England and Wales)

ACCOUNTANTS:

Wright Vigar Limited

Chartered Accountants & Business Advisers

15 Newland

Lincoln

Lincolnshire

LN1 1XG

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Polysafe Level Crossing Systems Limited for the year ended 31 March 2025 which comprise the Income Statement, Balance Sheet, Statement of Changes in Equity 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 Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Polysafe Level Crossing Systems Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Polysafe Level Crossing Systems Limited and state those matters that we have agreed to state to the Board of Directors of Polysafe Level Crossing Systems Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Polysafe Level Crossing Systems Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Polysafe Level Crossing Systems 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 loss of Polysafe Level Crossing Systems Limited. You consider that Polysafe Level Crossing Systems 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 Polysafe Level Crossing Systems 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.

Wright Vigar Limited

Chartered Accountants & Business Advisers

15 Newland

Lincoln

Lincolnshire

LN1 1XG

11 December 2025

FIXED ASSETS

Intangible assets

4

1,562

3,212

Tangible assets

5

51,409

64,530

52,971

67,742

CURRENT ASSETS

Stocks

416,956

506,500

Debtors

6

1,751,778

1,536,229

Cash at bank and in hand

461,783

789,743

2,630,517

2,832,472

CREDITORS

Amounts falling due within one year

7

384,954

343,268

NET CURRENT ASSETS

2,245,563

2,489,204

TOTAL ASSETS LESS CURRENT LIABILITIES

2,298,534

2,556,946

CREDITORS

Amounts falling due after more than one year

8

(6,667

)

(16,667

)

PROVISIONS FOR LIABILITIES

(3,323

)

(6,202

)

NET ASSETS

2,288,544

2,534,077

CAPITAL AND RESERVES

Called up share capital

9

60

60

Capital redemption reserve

40

40

Retained earnings

2,288,444

2,533,977

SHAREHOLDERS' FUNDS

2,288,544

2,534,077

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2025 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 11 December 2025 and were signed on its behalf by:

M G Austin - Director

1.	STATUTORY INFORMATION

Polysafe Level Crossing Systems Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

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" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

The turnover in the profit and loss account represents sales and work done during the year, exclusive of Value Added Tax. Turnover in respect of long-term contracts and contracts for on-going services is recognised by reference to the stage of completion.

Intangible assets - website

The intangible asset relates to the development of a website. The asset is amortised over its useful life of 3 years.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Improvements to property

-

20% on cost

Plant and machinery

-

25% on reducing balance

Motor vehicles

-

25% on reducing balance

Office equipment

-

25% on reducing balance

Stocks

Stocks and work in progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Cost includes all direct expenditure and an appropriate proportion of fixed and variable overheads.

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of Comprehensive Income.

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and best estimate of the recoverable amount, which is an approximation of the amount that the Company would receive for the asset if it were to be sold at the balance sheet date.

Taxation

Taxation for the year 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 year end and that are expected to apply to the reversal of the timing difference.

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.

Operating lease agreements

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profits on a straight line basis over the period of the lease.

Pension costs

The company operates a defined contribution pension scheme for its employees. The assets of the scheme are held separately from those of the company. The annual contributions payable are charged to the profit and loss account.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 10 (2024 - 10 ) .

4.	INTANGIBLE FIXED ASSETS

Other

intangible

assets

£

COST

At 1 April 2024

and 31 March 2025

6,029

AMORTISATION

At 1 April 2024

2,817

Charge for year

1,650

At 31 March 2025

4,467

NET BOOK VALUE

At 31 March 2025

1,562

At 31 March 2024

3,212

5.	TANGIBLE FIXED ASSETS

Improvements

to

Plant and

Motor

Office

property

machinery

vehicles

equipment

Totals

£

£

£

£

£

COST

At 1 April 2024

46,900

181,854

72,043

56,231

357,028

Additions

-

2,425

-

1,525

3,950

At 31 March 2025

46,900

184,279

72,043

57,756

360,978

DEPRECIATION

At 1 April 2024

46,900

174,882

24,209

46,507

292,498

Charge for year

-

2,284

11,959

2,828

17,071

At 31 March 2025

46,900

177,166

36,168

49,335

309,569

NET BOOK VALUE

At 31 March 2025

-

7,113

35,875

8,421

51,409

At 31 March 2024

-

6,972

47,834

9,724

64,530

6.

DEBTORS

2025

2024

£

£

Amounts falling due within one year:

Trade debtors

314,811

152,829

Other debtors

868,927

925,001

1,183,738

1,077,830

Amounts falling due after more than one year:

Other debtors

568,040

458,399

Aggregate amounts

1,751,778

1,536,229

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Bank loans and overdrafts

10,000

10,000

Trade creditors

262,808

243,076

Taxation and social security

68,159

80,495

Other creditors

43,987

9,697

384,954

343,268

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2025

2024

£

£

Bank loans

6,667

16,667

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2025

2024

value:

£

£

60

Ordinary

£1

60

60

10.	TRANSACTIONS WITH THE DIRECTORS

The following advances and credits to directors subsisted during the years ended 31 March 2025 and 31 March 2024:

2025

2024

£

£

R E Hiblin

Balance outstanding at start of year

476,896

178,473

Amounts advanced

276,044

478,423

Amounts repaid

(371,640

)

(180,000

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

381,300

476,896

M G Austin

Balance outstanding at start of year

39,499

28,463

Amounts advanced

50,788

11,036

Amounts repaid

(18,540

)

-

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

71,747

39,499

Interest has been charged on the loans at the rate prescribed by HMRC.