REGISTERED NUMBER: 15085469 (England and Wales)

Financial Statements for the Year Ended 31 December 2025

for

Polene UK Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

A Mothay

SECRETARY:

Pramex International Ltd

REGISTERED OFFICE:

8th Floor South

11 Old Jewry

London

EC2R 8DU

REGISTERED NUMBER:

15085469 (England and Wales)

AUDITORS:

Bourner Bullock

Chartered Accountants

114 St Martin’s Lane

Covent Garden

London

WC2N 4BE

FIXED ASSETS

Tangible assets

4

1,633,483

1,609,873

CURRENT ASSETS

Stocks

536,381

256,665

Debtors

5

553,117

931,419

Cash at bank and in hand

1,657,429

2,379,037

2,746,927

3,567,121

CREDITORS

Amounts falling due within one year

6

4,113,169

4,970,280

NET CURRENT LIABILITIES

(1,366,242

)

(1,403,159

)

TOTAL ASSETS LESS CURRENT LIABILITIES

267,241

206,714

CREDITORS

Amounts falling due after more than one year

7

-

255,208

NET ASSETS/(LIABILITIES)

267,241

(48,494

)

CAPITAL AND RESERVES

Called up share capital

5,000

5,000

Retained earnings

262,241

(53,494

)

267,241

(48,494

)

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 director and authorised for issue on 27 March 2026 and were signed by:

A Mothay - Director

1.	STATUTORY INFORMATION

Polene UK Ltd 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.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared under the historical cost convention.

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" relevant to a company following the small entity regime and the Companies Act 2006.

These accounts are individual financial statements and do not form part of a group accounts.

All amounts are rounded to the nearest £

Going concern

The director has a reasonable expectation that the Company has adequate resources to

continue in operational existence for the foreseeable future and as such, considers it

appropriate to prepare financial statements on the going concern basis.

Critical accounting judgements and key sources of estimation uncertainty

In the application of the company's accounting policies, the director is required to make

judgements, estimates and assumptions about the carrying amount of assets and liabilities

that are not readily apparent from other sources. The estimates and associated assumptions

are based on historical experience and other factors that are considered to be relevant.

Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to

accounting estimates are recognized in the period in which the estimate is revised where the

revision affects only that period, or in the period of the revision and future periods where the

revision affects both current and future periods.

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 the cost less estimated residual value of each asset over its estimated useful life.

Land and buildings

-

in accordance with the lease

Plant and machinery etc

-

33% on cost, 20% on cost and in accordance with the lease

Improvements to Property - Over duration of the lease

Computer Equipment - Straight Line over 3 years.

Stocks

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

Stocks are stated at the lower of cost and net realisable value, being the estimated selling

price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first

out basis. Work in progress and finished goods include labour and attributable overheads.

At each reporting date, stocks are assessed for impairment. If stock is impaired, the carrying

amount is reduced to its selling price less costs to complete and sell. The impairment loss is

recognised immediately in profit or loss.

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.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements , when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors, loans to fellow group companies, 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.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including creditors, accruals and loans from fellow group companies 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 payments 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.

Basic financial liabilities - continued

Trade creditors are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Amounts 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.

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.

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.

The non-monetary items are measured at historical cost and translated at the exchange rate on the date of transaction.

Hire purchase and leasing commitments

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

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 22 (2024 - 1 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Leasehold

Improvements

and

Computer

costs

to property

fittings

equipment

Totals

£

£

£

£

£

COST

At 1 January 2025

-

1,611,740

-

11,953

1,623,693

Additions

70,252

131,610

67,268

-

269,130

Disposals

-

(52,615

)

-

-

(52,615

)

Reclassification/transfer

220,593

(272,500

)

33,886

18,021

-

At 31 December 2025

290,845

1,418,235

101,154

29,974

1,840,208

DEPRECIATION

At 1 January 2025

-

13,488

-

332

13,820

Charge for year

28,969

141,369

12,110

10,795

193,243

Eliminated on disposal

-

(338

)

-

-

(338

)

Reclassification/transfer

11,308

(11,308

)

-

-

-

At 31 December 2025

40,277

143,211

12,110

11,127

206,725

NET BOOK VALUE

At 31 December 2025

250,568

1,275,024

89,044

18,847

1,633,483

At 31 December 2024

-

1,598,252

-

11,621

1,609,873

5.

DEBTORS

31.12.25

31.12.24

£

£

Amounts falling due within one year:

Trade debtors

-

60

Other debtors

240,617

618,859

240,617

618,919

Amounts falling due after more than one year:

Other debtors

312,500

312,500

Aggregate amounts

553,117

931,419

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.25

31.12.24

£

£

Bank loans and overdrafts

-

370

Trade creditors

420,534

103,621

Amounts owed to group undertakings

1,966,281

3,383,659

Tax

115,209

-

PAYE

20,449

10,418

VAT

1,058,337

496,752

Other creditors

35,845

116,718

Accruals

12,896

392,117

Deferred income

483,618

466,625

4,113,169

4,970,280

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.12.25

31.12.24

£

£

Accruals

-

255,208

8.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

31.12.25

31.12.24

£

£

Within one year

625,000

625,000

Between one and five years

1,979,452

2,500,000

In more than five years

-

104,452

2,604,452

3,229,452

9.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

David Wheeler (Senior Statutory Auditor)

for and on behalf of Bourner Bullock

10.	RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

11.	ULTIMATE CONTROLLING PARTY

The company's immediate and ultimate controlling parent company is La Cadette SAS, a company incorporated in France, whose registered address is 5 Rue de la Rochefoucauld, 75009, Paris, France.

12.	PRIOR YEAR ADJUSTMENTS

The company's prior year Balance sheet has been restated to correct the understatement of an intercompany balance from Polene Espana for £17,479 and a reversal for a deposit on a defective machine for the amount of £40,617 returned to creditors.These are now presented with the correct amounts.

The impact of the restatement is as follows:

As previously stated

Restatement

As restated

31 December 2024

31 December 2024

£

£

£

Amount owed to group undertakings (Note 7)

(3,325,564

)

(58,095

)

(3,383,659

)

Trade creditors (Note 7)

(161,716

)

58,095

(103,621

)