REGISTERED NUMBER: 02461800 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

FOR

J.P. POLYMER SHEETINGS LIMITED

Page

Balance Sheet

1

Notes to the Financial Statements

3

FIXED ASSETS

Tangible assets

4

124,825

112,440

CURRENT ASSETS

Stocks

564,775

456,569

Debtors

5

417,606

697,945

Cash at bank and in hand

758

1,680

983,139

1,156,194

CREDITORS

Amounts falling due within one year

6

642,479

770,296

NET CURRENT ASSETS

340,660

385,898

TOTAL ASSETS LESS CURRENT LIABILITIES

465,485

498,338

CREDITORS

Amounts falling due after more than one year

7

(37,018

)

(30,891

)

PROVISIONS FOR LIABILITIES

(8,000

)

(14,000

)

NET ASSETS

420,467

453,447

CAPITAL AND RESERVES

Called up share capital

15,000

15,000

Capital redemption reserve

25,000

25,000

Retained earnings

380,467

413,447

420,467

453,447

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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 16 December 2025 and were signed on its behalf by:

P Fenton - Director

1.	STATUTORY INFORMATION

J.P. Polymer Sheetings Limited is a private company limited by shares and incorporated in England, registered number 02461800. Its registered office is 26 Coneygre Industrial Estate, Birmingham New Road, Tipton, West Midlands, England, DY4 8XP.

The financial statements are presented in Sterling, which is the functional currency of the company.

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

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

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

Plant and machinery etc

-

33% on cost, 25% on cost and over the term of the lease

Stocks

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

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

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.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the

lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Basic financial instruments

Basic financial liabilities, including trade and other debtors, bank loans and other loans 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 receipts discounted at a market rate of interest.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 14 (2024 - 15 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 April 2024

336,745

Additions

74,574

Disposals

(74,159

)

At 31 March 2025

337,160

DEPRECIATION

At 1 April 2024

224,305

Charge for year

45,882

Eliminated on disposal

(57,852

)

At 31 March 2025

212,335

NET BOOK VALUE

At 31 March 2025

124,825

At 31 March 2024

112,440

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.25

31.3.24

£

£

Trade debtors

377,935

488,409

Other debtors

39,671

209,536

417,606

697,945

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.25

31.3.24

£

£

Bank loans and overdrafts

371,762

369,610

Finance leases (see note 8)

38,927

41,827

Trade creditors

115,469

177,533

Taxation and social security

89,628

103,026

Other creditors

26,693

78,300

642,479

770,296

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.3.25

31.3.24

£

£

Bank loans

-

13,750

Finance leases (see note 8)

37,018

17,141

37,018

30,891

8.	LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Finance leases

31.3.25

31.3.24

£

£

Net obligations repayable:

Within one year

38,927

41,827

Between one and five years

37,018

17,141

75,945

58,968

Non-cancellable

operating leases

31.3.25

31.3.24

£

£

Within one year

64,700

64,700

Between one and five years

124,008

188,708

188,708

253,408

9.	SECURED DEBTS

The following secured debts are included within creditors:

31.3.25

31.3.24

£

£

Bank loans

371,762

383,360

Finance Leases

75,945

58,968

447,707

442,328

The bank loans and overdraft were secured by way of a fixed and floating charge against the assets of the company.

The hire purchase liabilities are secured against the assets financed.

10.	RELATED PARTY DISCLOSURES

During the year, total dividends of £12,000 were paid to the directors .

During the year the company made loans to a company controlled by one of the directors. At the balance sheet date the amount outstanding from that company was £0 (2024 - £163,387).