Company registration number 01972709 (England and Wales)
POLYHOSE (UK) LIMITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31 MARCH 2026
PAGES FOR FILING WITH REGISTRAR
Waverley House
115-119 Holdenhurst Road
Bournemouth
Dorset
BH8 8DY
POLYHOSE (UK) LIMITED
CONTENTS
Page
Company information
1
Balance sheet
2
Statement of changes in equity
3
Notes to the financial statements
4 - 10
POLYHOSE (UK) LIMITED
COMPANY INFORMATION
- 1 -
Directors
Mr M J L Whibley
Mrs S Bingham
Secretary
Mr M J L Whibley
Company number
01972709
Registered office
Waverley House
115-119 Holdenhurst Road
Bournemouth
Dorset
BH8 8DY
Auditor
TC Group
Waverley House
115-119 Holdenhurst Road
Bournemouth
Dorset
BH8 8DY
POLYHOSE (UK) LIMITED
BALANCE SHEET
AS AT 31 MARCH 2026
31 March 2026
- 2 -
2026
2025
Notes
£
£
£
£
Fixed assets
Tangible assets
4
934,835
900,302
Current assets
Stocks
1,053,751
1,269,664
Debtors
5
784,297
509,144
Cash at bank and in hand
610,846
506,030
2,448,894
2,284,838
Creditors: amounts falling due within one year
6
(747,194)
(685,510)
Net current assets
1,701,700
1,599,328
Total assets less current liabilities
2,636,535
2,499,630
Creditors: amounts falling due after more than one year
7
(396,788)
(460,922)
Net assets
2,239,747
2,038,708
Capital and reserves
Called up share capital
200,000
200,000
Profit and loss reserves
2,039,747
1,838,708
Total equity
2,239,747
2,038,708

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.

The financial statements were approved by the board of directors and authorised for issue on 29 May 2026 and are signed on its behalf by:
Mr M J L Whibley
Mrs S Bingham
Director
Director
Company Registration No. 01972709
The notes on pages 4 to 10 form part of these financial statements
POLYHOSE (UK) LIMITED
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 MARCH 2026
- 3 -
Share capital
Profit and loss reserves
Total
Notes
£
£
£
Balance at 1 April 2024
200,000
1,679,998
1,879,998
Year ended 31 March 2025:
Profit and total comprehensive income
-
158,710
158,710
Balance at 31 March 2025
200,000
1,838,708
2,038,708
Year ended 31 March 2026:
Profit and total comprehensive income
-
258,004
258,004
Dividends
-
(56,965)
(56,965)
Balance at 31 March 2026
200,000
2,039,747
2,239,747
POLYHOSE (UK) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2026
- 4 -
1
Accounting policies
Company information

Polyhose (UK) Limited is a private company limited by shares incorporated in England and Wales. The registered office is Waverley House, 115-119 Holdenhurst Road, Bournemouth, Dorset, BH8 8DY.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary a mounts in these financial statements are rounded to the nearest £.

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 financial instruments at fair value. The principal accounting policies adopted are set out below.

1.2
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

1.3
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Leasehold land and buildings
2% on cost
Fixtures and fittings
15% reducing balance
Computers
25% on cost
Motor vehicles
25% reducing balance

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.

No depreciation is provided on assets in the course of construction until the asset is brought into use. Freehold land is not depreciated.

POLYHOSE (UK) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2026
1
Accounting policies
(Continued)
- 5 -
1.4
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

1.5
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition. A provision is made in full for any stock the directors assess to be unlikely to sell for the foreseeable future.

Stock is valuated using the weighted average cost method.

1.6
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 current liabilities.

1.7
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, 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 paymen ts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. A m ounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

POLYHOSE (UK) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2026
1
Accounting policies
(Continued)
- 6 -
1.8
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.9
Taxation

The tax expense represents the sum of the tax currently payable.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

1.10
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

1.11
Retirement benefits

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

1.12
Leases

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the lease s asset are consumed.

Rental income from operating leases is recognised on a straight line basis over the term of the relevant lease. Initial direct costs incurred in negotiating and arranging an operating lease are added to the carrying amount of the leased asset and recognised on a straight line basis over the lease term.

1.13
Foreign exchange

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.

POLYHOSE (UK) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2026
- 7 -
2
Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. The judgements (apart from those involving estimations) that management has made in the process of applying the entity's accounting policies and that have the most significant effect on the amounts recognised in the financial statements are described below.

Accounting estimates and assumptions are made concerning the future and, by their nature, will rarely equal the related actual outcome. The key assumptions and other sources of estimation uncertainty that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are as follows:

The fixed asset depreciation charge is derived from the estimated useful economic life and residual value of the asset. These are reviewed annually alongside any impairment indicators.

The directors assess the closing debtor balances for recoverability and those not considered probable of recovery are provided for in full. For the current year, the directors have assessed the balances outstanding and consider no provision to be required against these.

Accruals for goods or services not yet invoiced are estimated based on historic activity with the supplier or quotations received ahead of invoicing.

Prepayments are based on actual invoices received and costs allocated across the relevant accounting period on a straight line basis of the time period in which the service relates to.

Stock is held at the lower of cost and net realisable value which is based on the estimated sales value of the asset at the year end.

3
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2026
2025
Number
Number
Total
13
13
POLYHOSE (UK) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2026
- 8 -
4
Tangible fixed assets
Leasehold land and buildings
Fixtures and fittings
Computers
Motor vehicles
Total
£
£
£
£
£
Cost
At 1 April 2025
953,362
187,795
23,836
42,336
1,207,329
Additions
46,986
18,139
1,299
27,174
93,598
Disposals
-
0
-
0
-
0
(42,336)
(42,336)
At 31 March 2026
1,000,348
205,934
25,135
27,174
1,258,591
Depreciation and impairment
At 1 April 2025
132,922
133,315
22,268
18,522
307,027
Depreciation charged in the year
19,347
10,754
1,178
5,616
36,895
Eliminated in respect of disposals
-
0
-
0
-
0
(20,166)
(20,166)
At 31 March 2026
152,269
144,069
23,446
3,972
323,756
Carrying amount
At 31 March 2026
848,079
61,865
1,689
23,202
934,835
At 31 March 2025
820,440
54,480
1,568
23,814
900,302
5
Debtors
2026
2025
Amounts falling due within one year:
£
£
Trade debtors
556,304
431,494
Corporation tax recoverable
-
0
23,421
Amounts owed by group undertakings
196,773
18,327
Other debtors
31,220
35,902
784,297
509,144
POLYHOSE (UK) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2026
- 9 -
6
Creditors: amounts falling due within one year
2026
2025
£
£
Bank loans
61,861
59,158
Trade creditors
58,232
63,171
Amounts owed to group undertakings
376,333
362,133
Corporation tax
34,737
-
0
Other taxation and social security
136,126
124,099
Other creditors
79,905
76,949
747,194
685,510
7
Creditors: amounts falling due after more than one year
2026
2025
£
£
Bank loans and overdrafts
396,788
460,922
8
Loans and overdrafts
2026
2025
£
£
Bank loans
458,649
520,080
Payable within one year
61,861
59,158
Payable after one year
396,788
460,922

The bank loans are secured by a fixed and floating charge on all assets held by the company.

9
Audit report information

As the income statement has been omitted from the filing copy of the financial statements, the following information in relation to the audit report on the statutory financial statements is provided in accordance with s444(5B) of the Companies Act 2006:

The auditor's report was unqualified.

Senior Statutory Auditor:
Ian Rodd BSC FCA FCCA
Statutory Auditor:
TC Group
Date of audit report:
3 June 2026
POLYHOSE (UK) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2026
- 10 -
10
Operating lease commitments
Lessee

At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:

2026
2025
£
£
118,009
157,512
11
Parent company

The company is controlled by Exitflex SA, a company registered in Switzerland. The ultimate controlling party is Polyhose India PVT Limited, of which Exitflex SA is a wholly owned subsidiary. Copies of the consolidated accounts may be obtained from Polyhose Towers, 8th floor – Western Wing, #86, Mount Road, Guindy, Chennai – 600 032.India.

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