REGISTERED NUMBER: 06080597 (England and Wales)

Financial Statements for the Year Ended 31st March 2025

for

Polymer (UK) Limited

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

A Nehme

SECRETARY:

Mrs H Nehme

REGISTERED OFFICE:

First Floor

87 Kenton Road

Harrow

Middlesex

HA3 0AH

REGISTERED NUMBER:

06080597 (England and Wales)

FIXED ASSETS

Intangible assets

4

41,330

51,537

Tangible assets

5

310,842

317,549

Investment property

6

3,474,853

3,428,218

3,827,025

3,797,304

CURRENT ASSETS

Stocks

1,244,190

1,097,762

Debtors

1,091,402

1,207,958

Cash at bank and in hand

2,269,441

1,566,677

4,605,033

3,872,397

CREDITORS

Amounts falling due within one year

879,692

926,973

NET CURRENT ASSETS

3,725,341

2,945,424

TOTAL ASSETS LESS CURRENT LIABILITIES

7,552,366

6,742,728

CREDITORS

Amounts falling due after more than one year

7

(363,600

)

(424,200

)

PROVISIONS FOR LIABILITIES

(35,002

)

(23,343

)

NET ASSETS

7,153,764

6,295,185

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

7,153,664

6,295,085

SHAREHOLDERS' FUNDS

7,153,764

6,295,185

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

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

The director acknowledges his 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.

All the members have consented to the preparation of an abridged Income Statement and an abridged Balance Sheet for the year ended 31st March 2025 in accordance with Section 444(2A) of the Companies Act 2006.

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

The financial statements were approved by the director and authorised for issue on 30th December 2025 and were signed by:

A Nehme - Director

1.	STATUTORY INFORMATION

Polymer (UK) 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 as modified by the revaluation of certain assets.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2007, is being amortised evenly over its estimated useful life of twenty years.

Website development costs

Website development costs are capitalised over 10 years.

Tangible fixed assets

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

Short leasehold

-

10% on cost

Plant and machinery

-

15% on reducing balance

Fixtures and fittings

-

15% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer Equipment

-

33.3% on cost

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Stocks

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

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 29 (2024 - 27 ) .

4.	INTANGIBLE FIXED ASSETS

Totals

£

COST

At 1st April 2024

308,280

Additions

6,178

At 31st March 2025

314,458

AMORTISATION

At 1st April 2024

256,743

Amortisation for year

16,385

At 31st March 2025

273,128

NET BOOK VALUE

At 31st March 2025

41,330

At 31st March 2024

51,537

5.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1st April 2024

687,890

Additions

60,845

At 31st March 2025

748,735

DEPRECIATION

At 1st April 2024

370,341

Charge for year

67,552

At 31st March 2025

437,893

NET BOOK VALUE

At 31st March 2025

310,842

At 31st March 2024

317,549

6.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1st April 2024

3,428,218

Revaluations

46,635

At 31st March 2025

3,474,853

NET BOOK VALUE

At 31st March 2025

3,474,853

At 31st March 2024

3,428,218

The company has three investment properties. The values for the properties have been provided by the director who believes that they represent the market values at the year end date.

Fair value at 31st March 2025 is represented by:

£

Valuation in 2019

(34,470

)

Valuation in 2020

27,237

Valuation in 2021

96,577

Valuation in 2022

85,311

Valuation in 2023

(97,940

)

Valuation in 2024

34,503

Valuation in 2025

46,635

Cost

3,317,000

3,474,853

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN FIVE YEARS

31.3.25

31.3.24

£

£

Repayable by instalments

Bank loans more 5 yr by instal

121,200

181,800

8.

LOANS

9.	SECURED DEBTS

The following secured debts are included within creditors:

31.3.25

31.3.24

£

£

Bank loans

424,200

484,800

The company obtained a bank loan for £909,000 to purchase investment properties. This is repayable over 15 years. The bank has a legal charge over all the three properties.

10.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

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

31.3.25

31.3.24

£

£

A Nehme

Balance outstanding at start of year

10,850

10,910

Amounts advanced

200,000

295,000

Amounts repaid

(187,383

)

(295,060

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

23,467

10,850