ACCOUNTS - Final Accounts preparation

Operating profit

The operating profit is stated after charging:

Registered number: 13564644

POLYSTAR PRIVATE TRADING ESTATES LTD

ANNUAL REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2025

POLYSTAR PRIVATE TRADING ESTATES LTD

COMPANY INFORMATION

Directors	J Talwar
	R Talwar
	S Talwar
	S Talwar


Registered number	13564644


Registered office	Peel House
	Peel Street
	Northam
	Southampton
	England
	SO14 5QT


Independent auditors	James Cowper Kreston Audit
	Chartered Accountants and Statutory Auditor
	Apex
	Forbury Road
	Reading
	Berkshire
	RG1 1AX

POLYSTAR PRIVATE TRADING ESTATES LTD

CONTENTS

	Page
Group Strategic Report	1 - 8
Directors' Report	9 - 10
Independent Auditors' Report	11 - 14
Consolidated Statement of Comprehensive Income	15
Consolidated Balance Sheet	16
Company Balance Sheet	17
Consolidated Statement of Changes in Equity	18 - 19
Company Statement of Changes in Equity	20 - 21
Consolidated Statement of Cash Flows	22
Consolidated Analysis of Net Debt	23
Notes to the Financial Statements	24 - 43

POLYSTAR PRIVATE TRADING ESTATES LTD

GROUP STRATEGIC REPORT

FOR THE YEAR ENDED 31 JULY 2025

Introduction

The directors are pleased to present their strategic report with the audited financial statements of Polystar Private Trading Estates Limited for the period ending 31 July 2025.

Business review

The principal activities of the Group during the year, remained the extrusion, print and conversion of industrial and consumer flexible polythene packaging, across a variety of markets and industries.

With the impending Plastic Packaging Tax (PPT) and the market drive to introduce recyclable materials, the business units focused on introducing new products that either mitigated PPT or enabled our customers to declare their flexible packaging to be fully recyclable. This work will continue into 2026 and will represent a significant proportion of sales moving forwards.

This was also demanding and exciting year for Polystar, as we continued to invest in new extruders and state of the art conversion equipment. Polystar’s investment strategy won us an award, at The Plastic Industry Awards - Best Business Initiative 2022 and Processor of the Year 2024.

Key Performance Indicators (KPIs):

In conjunction with the management of costs and working capital to improve profit, the group uses a number of KPIs to monitor performance. These KPIs are monitored both on a product-by-product basis and also for the group as a whole, compared to the budget.

The key performance indicators for the business are turnover, ASP, margin over blend by product category and operating profit.t

Page 1

POLYSTAR PRIVATE TRADING ESTATES LTD

GROUP STRATEGIC REPORT (CONTINUED)

FOR THE YEAR ENDED 31 JULY 2025

Financial key performance indicators

Turnover

Despite challenging market conditions, the Group delivered a strong performance in 2025, achieving a turnover of £54m. The year’s impressive performance has been the result of a number of factors including innovative product developments for a number of different markets, and a whole range of other technical and performance films containing PCW (Post Consumer Waste) or industrial recycled content). We have also increased the customer base by high levels of pro activity, especially in food related markets.

This was despite tough market conditions, as many of the other markets supplied, slowed down production, and ordered reduced volumes. We have a robust pipeline in place, which is monitored quarterly, and our success to prediction is running significantly above expectation.

Operating profit

Despite volatile market conditions, where the raw material prices are changing on a regular basis, as well the energy cost has risen considerably compared to the previous period, the group still managed to achieve a reasonable operating profit. The overall profit before tax for the year was £5.3m (2024 - £5.4m).

Page 2

POLYSTAR PRIVATE TRADING ESTATES LTD

GROUP STRATEGIC REPORT (CONTINUED)

FOR THE YEAR ENDED 31 JULY 2025

This report was approved by the board and signed on its behalf..

J Talwar

Director

Date: 28 July 2026

Page 8

POLYSTAR PRIVATE TRADING ESTATES LTD

DIRECTORS' REPORT

FOR THE YEAR ENDED 31 JULY 2025

The Directors present their report and the financial statements for the year ended 31 July 2025.

Directors

The Directors who served during the year were:

J Talwar

R Talwar

S Talwar

Directors' responsibilities statement

The Directors are responsible for preparing the Group Strategic Report, the Directors' Report and the consolidated financial statements in accordance with applicable law and regulations.

Company law requires the Directors to prepare financial statements for each financial year. Under that law the Directors have elected to prepare the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland'. Under company law the Directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the Company and the Group and of the profit or loss of the Group for that period.

In preparing these financial statements, the Directors are required to:

∙select suitable accounting policies for the Group's financial statements and then apply them consistently;

∙make judgments and accounting estimates that are reasonable and prudent;

∙state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements;

∙prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Group will continue in business.

The Directors are responsible for keeping adequate accounting records that are sufficient to show and explain the Company's transactions and disclose with reasonable accuracy at any time the financial position of the Company and the Group and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the Company and the Group and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Results and dividends

The profit for the year, after taxation, amounted to £5,135,025 (2024 - £4,575,972).

The total distribution of dividends for the year ended 31 July 2025 was £1,500,000 (2024 - £1,000,000).

Disclosure of information to auditors

Each of the persons who are Directors at the time when this Directors' Report is approved has confirmed that:

∙so far as the Director is aware, there is no relevant audit information of which the Company and the Group's auditors are unaware, and

∙the Director has taken all the steps that ought to have been taken as a Director in order to be aware of any relevant audit information and to establish that the Company and the Group's auditors are aware of that information.

Page 9

POLYSTAR PRIVATE TRADING ESTATES LTD

DIRECTORS' REPORT (CONTINUED)

FOR THE YEAR ENDED 31 JULY 2025

Auditors

The auditors, James Cowper Kreston Audit, will be proposed for reappointment in accordance with section 485 of the Companies Act 2006.

This report was approved by the board and signed on its behalf.

J Talwar

Director

Date: 28 July 2026

Page 10

POLYSTAR PRIVATE TRADING ESTATES LTD

INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF POLYSTAR PRIVATE TRADING ESTATES LTD

Opinion

We have audited the financial statements of Polystar Private Trading Estates Ltd (the 'Parent Company') and its subsidiaries (the 'Group') for the year ended 31 July 2025, which comprise the Consolidated Statement of Comprehensive Income, the Consolidated Analysis of Net Debt, the Consolidated Balance Sheet, the Company Balance Sheet, the Consolidated Statement of Cash Flows, the Consolidated Statement of Changes in Equity, the Company Statement of Changes in Equity and the related notes, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

∙give a true and fair view of the state of the Group's and of the Parent Company's affairs as at 31 July 2025 and of the Group's profit for the year then ended;

∙have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and

∙have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the Group in accordance with the ethical requirements that are relevant to our audit of the financial statements in the United Kingdom, including the Financial Reporting Council's Ethical Standard and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the Directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the Group's or the Parent Company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the Directors with respect to going concern are described in the relevant sections of this report.

Page 11

POLYSTAR PRIVATE TRADING ESTATES LTD

INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF POLYSTAR PRIVATE TRADING ESTATES LTD (CONTINUED)

Other information

The other information comprises the information included in the Annual Report other than the financial statements and our Auditors' Report thereon. The Directors are responsible for the other information contained within the Annual Report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

Opinion on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

∙the information given in the Group Strategic Report and the Directors' Report for the financial year for which the financial statements are prepared is consistent with the financial statements; and

∙the Group Strategic Report and the Directors' Report have been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the Group and the Parent Company and its environment obtained in the course of the audit, we have not identified material misstatements in the Group Strategic Report or the Directors' Report.

We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:

∙adequate accounting records have not been kept by the Parent Company, or returns adequate for our audit have not been received from branches not visited by us; or

∙the Parent Company financial statements are not in agreement with the accounting records and returns; or

∙certain disclosures of Directors' remuneration specified by law are not made; or

∙we have not received all the information and explanations we require for our audit.

Responsibilities of directors

As explained more fully in the Directors' Responsibilities Statement set out on page 9, the Directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the Directors determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the Directors are responsible for assessing the Group's and the Parent Company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the Directors either intend to liquidate the Group or the Parent Company or to cease operations, or have no realistic alternative but to do so.

Page 12

POLYSTAR PRIVATE TRADING ESTATES LTD

INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF POLYSTAR PRIVATE TRADING ESTATES LTD (CONTINUED)

Auditors' responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an Auditors' Report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these Group financial statements.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance.

The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.

The specific procedures for this engagement that we designed and performed to detect material misstatements in respect of irregularities, including fraud, were as follows:

∙Enquiry of management and those charged with governance around actual and potential litigation and claims;

∙Enquiry of management and those charged with governance to identify any material instances of non-compliance with laws and regulations;

∙Reviewing financial statement disclosures and testing to supporting documentation to assess compliance with applicable laws and regulations;

∙Performing audit work to address the risk of irregularities due to management override of controls, including testing of journal entries and other adjustments for appropriateness, evaluating the business rationale of significant transactions outside the normal course of business and reviewing accounting estimates for evidence of bias.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our Auditors' Report.

Page 13

POLYSTAR PRIVATE TRADING ESTATES LTD

INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF POLYSTAR PRIVATE TRADING ESTATES LTD (CONTINUED)

Use of our report

This report is made solely to the Company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the Company's members those matters we are required to state to them in an Auditors' Report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the Company and the Company's members, as a body, for our audit work, for this report, or for the opinions we have formed.

Darren O'Connor BSc (Hons) ACA FCCA (Senior Statutory Auditor)

for and on behalf of

James Cowper Kreston Audit

Chartered Accountants and Statutory Auditor

Apex

Forbury Road

Reading

Berkshire

RG1 1AX

28 July 2026

Page 14

POLYSTAR PRIVATE TRADING ESTATES LTD

CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME

FOR THE YEAR ENDED 31 JULY 2025

	2025	2024
Note	£	£


Turnover	4	54,450,131	53,257,961
Cost of sales		(46,346,358)	(45,957,914)
Gross profit		8,103,773	7,300,047
Administrative expenses		(3,495,016)	(2,453,857)
Other operating income	5	538,635	414,845
Operating profit	6	5,147,392	5,261,035
Interest receivable and similar income		146,382	124,877
Interest payable and similar expenses		-	(23,860)
Profit before tax		5,293,774	5,362,052
Tax on profit	10	(158,749)	(786,080)
Profit for the financial year		5,135,025	4,575,972

Other comprehensive income for the year
Total comprehensive income for the year		5,135,025	4,575,972

Profit for the year attributable to:
Owners of the Parent Company	(5,135,025)	(4,575,972)
	(5,135,025)	(4,575,972)

The notes on pages 24 to 43 form part of these financial statements.

Page 15

POLYSTAR PRIVATE TRADING ESTATES LTD

REGISTERED NUMBER: 13564644

CONSOLIDATED BALANCE SHEET

AS AT 31 JULY 2025

		As restated
	2025	2024
Note	£	£

Fixed assets
Intangible assets	11		(4,724,976)		(6,765,362)
Tangible fixed assets	12		17,163,949		16,163,492
			12,438,973		9,398,130
Current assets
Stocks	15	6,864,955		2,026,062
Debtors	16	15,184,558		15,877,566
Cash at bank and in hand	17	4,013,301		6,314,464
		26,062,814		24,218,092
Creditors: amounts falling due within one year	18	(11,555,805)		(10,326,802)
Net current assets			14,507,009		13,891,290
Total assets less current liabilities			26,945,982		23,289,420
Provisions for liabilities
Deferred tax	19	(1,863,765)		(1,842,228)
			(1,863,765)		(1,842,228)
Net assets			25,082,217		21,447,192

Capital and reserves
Called up share capital	20	16,712,861	16,712,861
Capital redemption reserve	21	2,773,000	2,773,000
Profit and loss account	21	5,596,356	1,961,331
		25,082,217	21,447,192

The financial statements were approved and authorised for issue by the board and were signed on its behalf by:

J Talwar

Director

Date: 28 July 2026

The notes on pages 24 to 43 form part of these financial statements.

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POLYSTAR PRIVATE TRADING ESTATES LTD

REGISTERED NUMBER: 13564644

COMPANY BALANCE SHEET

AS AT 31 JULY 2025

		As restated
	2025	2024
Note	£	£

Fixed assets
Tangible assets	12		6,987,730		4,807,004
Investments	13		13,802,861		13,802,861
			20,790,591		18,609,865
Current assets
Debtors	16	2,222,184		2,998,540
Cash at bank and in hand	17	1,022,452		709,349
		3,244,636		3,707,889
Creditors: amounts falling due within one year	18	(2,736,569)		(1,756,046)
Net current assets			508,067		1,951,843
Total assets less current liabilities			21,298,658		20,561,708

Provisions for liabilities
Deferred taxation	19	(72,934)		-
			(72,934)		-
Net assets			21,225,724		20,561,708

Capital and reserves
Called up share capital	20	16,712,861	16,712,861
Capital redemption reserve	21	2,773,000	2,773,000
Profit and loss account	21	1,739,863	1,075,847
		21,225,724	20,561,708

The financial statements were approved and authorised for issue by the board and were signed on its behalf by:

J Talwar

Director

Date: 28 July 2026

The notes on pages 24 to 43 form part of these financial statements.

Page 17

POLYSTAR PRIVATE TRADING ESTATES LTD

CONSOLIDATED STATEMENT OF CHANGES IN EQUITY

FOR THE YEAR ENDED 31 JULY 2025

	Called up share capital	Capital redemption reserve	Profit and loss account	Equity attributable to owners of Parent Company	Total equity
	£	£	£	£	£
At 1 August 2024	16,712,861	2,773,000	1,961,331	21,447,192	21,447,192
Comprehensive income for the year
Profit for the year	-	-	5,135,025	5,135,025	5,135,025
Other comprehensive income for the year	-	-	-	-	-
Total comprehensive income for the year	-	-	5,135,025	5,135,025	5,135,025
Contributions by and distributions to owners
Dividends: Equity capital	-	-	(1,500,000)	(1,500,000)	(1,500,000)
Total transactions with owners	-	-	(1,500,000)	(1,500,000)	(1,500,000)
At 31 July 2025	16,712,861	2,773,000	5,596,356	25,082,217	25,082,217

The notes on pages 24 to 43 form part of these financial statements.

Page 18

POLYSTAR PRIVATE TRADING ESTATES LTD

CONSOLIDATED STATEMENT OF CHANGES IN EQUITY

FOR THE YEAR ENDED 31 JULY 2024

	Called up share capital	Capital redemption reserve	Profit and loss account	Equity attributable to owners of Parent Company	Total equity
	£	£	£	£	£
At 1 August 2023	16,712,861	2,773,000	(1,614,641)	17,871,220	17,871,220
Comprehensive income for the year
Profit for the year	-	-	4,575,972	4,575,972	4,575,972
Other comprehensive income for the year	-	-	-	-	-
Total comprehensive income for the year	-	-	4,575,972	4,575,972	4,575,972
Contributions by and distributions to owners
Dividends: Equity capital	-	-	(1,000,000)	(1,000,000)	(1,000,000)
Total transactions with owners	-	-	(1,000,000)	(1,000,000)	(1,000,000)
At 31 July 2024	16,712,861	2,773,000	1,961,331	21,447,192	21,447,192

The notes on pages 24 to 43 form part of these financial statements.

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POLYSTAR PRIVATE TRADING ESTATES LTD

COMPANY STATEMENT OF CHANGES IN EQUITY

FOR THE YEAR ENDED 31 JULY 2025

	Called up share capital	Capital redemption reserve	Profit and loss account	Total equity
	£	£	£	£
At 1 August 2024	16,712,861	2,773,000	(1,697,153)	17,788,708
Prior year adjustment - correction of error	-	-	2,773,000	2,773,000
At 1 August 2024 (as restated)	16,712,861	2,773,000	1,075,847	20,561,708
Comprehensive income for the year
Profit for the year	-	-	2,164,016	2,164,016
Total comprehensive income for the year	-	-	2,164,016	2,164,016
Contributions by and distributions to owners
Dividends: Equity capital	-	-	(1,500,000)	(1,500,000)
Total transactions with owners	-	-	(1,500,000)	(1,500,000)
At 31 July 2025	16,712,861	2,773,000	1,739,863	21,225,724

The notes on pages 24 to 43 form part of these financial statements.

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POLYSTAR PRIVATE TRADING ESTATES LTD

COMPANY STATEMENT OF CHANGES IN EQUITY

FOR THE YEAR ENDED 31 JULY 2024

	Called up share capital	Capital redemption reserve	Profit and loss account	Total equity
	£	£	£	£
At 1 August 2023 (as previously stated)	16,712,861	2,773,000	(2,454,256)	17,031,605
Prior year adjustment - correction of error	-	-	2,773,000	2,773,000
At 1 August 2023 (as restated)	16,712,861	2,773,000	318,744	19,804,605
Comprehensive income for the year
Profit for the year	-	-	1,757,103	1,757,103
Total comprehensive income for the year	-	-	1,757,103	1,757,103
Contributions by and distributions to owners
Dividends: Equity capital	-	-	(1,000,000)	(1,000,000)
Total transactions with owners	-	-	(1,000,000)	(1,000,000)
At 31 August 2024	16,712,861	2,773,000	1,075,847	20,561,708

The notes on pages 24 to 43 form part of these financial statements.

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POLYSTAR PRIVATE TRADING ESTATES LTD

CONSOLIDATED STATEMENT OF CASH FLOWS

FOR THE YEAR ENDED 31 JULY 2025

			2025	2024
			£	£

Cash flows from operating activities
Profit for the financial year	5,135,025	4,575,972
Adjustments for:
Amortisation of intangible assets	(1,946,144)	(1,946,144)
Depreciation of tangible assets	4,229,418	4,091,665
Profit on disposal of tangible assets	(89,183)	(389,878)
Interest paid	-	23,860
Interest received	(146,382)	(124,877)
Taxation charge	158,749	786,080
(Increase) in stocks	(4,838,893)	(847,508)
Decrease/(increase) in debtors	693,008	(2,730,840)
Increase/(decrease) in creditors	1,094,819	(911,643)
Corporation tax (paid)/received	(3,028)	84,238
Net cash generated from operating activities	4,287,389	2,610,925

Cash flows from investing activities
Purchase of intangible fixed assets	(94,242)	(46,143)
Purchase of tangible fixed assets	(5,240,692)	(3,106,221)
Sale of tangible fixed assets	100,000	630,000
Interest received	146,382	124,877
HP interest paid	-	(23,860)
Net cash from investing activities	(5,088,552)	(2,421,347)
Cash flows from financing activities
Dividends paid	(1,500,000)	(1,000,000)
Net cash used in financing activities	(1,500,000)	(1,000,000)
Net (decrease) in cash and cash equivalents	(2,301,163)	(810,422)
Cash and cash equivalents at beginning of year	6,314,464	7,124,886
Cash and cash equivalents at the end of year	4,013,301	6,314,464

Cash and cash equivalents at the end of year comprise:
Cash at bank and in hand	4,013,301	6,314,464
	4,013,301	6,314,464

The notes on pages 24 to 43 form part of these financial statements.

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POLYSTAR PRIVATE TRADING ESTATES LTD

CONSOLIDATED ANALYSIS OF NET DEBT

FOR THE YEAR ENDED 31 JULY 2025


At 1 August 2024	Cash flows	At 31 July 2025
£	£	£

Cash at bank and in hand	6,314,464	(2,301,163)	4,013,301
Debt due within 1 year	(2,984,514)	336,896	(2,647,618)
	3,329,950	(1,964,267)	1,365,683

The notes on pages 24 to 43 form part of these financial statements.

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POLYSTAR PRIVATE TRADING ESTATES LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2025

1.	General information

Polystar Private Trading Estates Limited is a limited liability company incorporated in England and Wales. The address of its registered office and principal place of business is the Peel House, Peel Street, Northam, Southampton, England, SO14 5QT.

2.Accounting policies

2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires Group management to exercise judgment in applying the Group's accounting policies (see note 3).

The Company has taken advantage of the exemption allowed under section 408 of the Companies Act 2006 and has not presented its own Statement of Comprehensive Income in these financial statements.

The following principal accounting policies have been applied:

2.2

Basis of consolidation

The consolidated financial statements present the results of the Company and its own subsidiaries ("the Group") as if they form a single entity. Intercompany transactions and balances between group companies are therefore eliminated in full.

The consolidated financial statements incorporate the results of business combinations using the purchase method. In the Balance Sheet, the acquiree's identifiable assets, liabilities and contingent liabilities are initially recognised at their fair values at the acquisition date. The results of acquired operations are included in the Consolidated Statement of Comprehensive Income from the date on which control is obtained. They are deconsolidated from the date control ceases.

2.3

Turnover

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Group and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:

∙the Group has transferred the significant risks and rewards of ownership to the buyer;

∙the Group retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;

∙the amount of revenue can be measured reliably;

∙it is probable that the Group will receive the consideration due under the transaction; and

∙the costs incurred or to be incurred in respect of the transaction can be measured reliably.

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POLYSTAR PRIVATE TRADING ESTATES LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2025

2.Accounting policies (continued)

2.4

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Investment property rented to other group entities and accounted for under the cost model is stated at historical cost less accumulated depreciation and any accumulated impairment losses.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Leasehold property	-		over the term of the lease
Short-term leasehold property	-	2%	per annum
Plant and machinery	-	20%	per annum
Motor vehicles	-	25%	per annum
Fixtures and fittings	-	10%	per annum
Computer equipment	-	25%	per annum

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

2.5

Investment property

Investment property is carried at fair value determined annually by external valuers and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in profit or loss.

2.6

Stocks

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 balance sheet 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.

2.7

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

In the Consolidated Statement of Cash Flows, cash and cash equivalents are shown net of bank overdrafts that are repayable on demand and form an integral part of the Group's cash management.

Page 25

POLYSTAR PRIVATE TRADING ESTATES LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2025

2.Accounting policies (continued)

2.8

Financial instruments

Basic 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 Group after the deduction of all its liabilities.

Basic financial liabilities, which include trade and other creditors, bank loans, other loans and loans due to fellow group companies are initially measured at their transaction price (adjusting for transaction costs except in the initial measurement of financial liabilities that are subsequently measured at fair value through profit and loss). When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future payments discounted at a market rate of interest, discounting is omitted where the effect of discounting is immaterial.

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

Trade creditors are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade creditors are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.

Other financial instruments

Derivatives, including forward exchange contracts, futures contracts and interest rate swaps, are not classified as basic financial instruments. These are initially recognised at fair value on the date the derivative contract is entered into, with costs being charged to the profit or loss. They are subsequently measured at fair value with changes in the profit or loss.

Debt instruments that do not meet the conditions as set out in FRS 102 paragraph 11.9 are subsequently measured at fair value through the profit or loss. This recognition and measurement would also apply to financial instruments where the performance is evaluated on a fair value basis as with a documented risk management or investment strategy.

Derecognition of financial assets

Financial assets are derecognised when their contractual right to future cash flow expire, or are settled, or when the Group transfers the asset and substantially all the risks and rewards of ownership to another party. If significant risks and rewards of ownership are retained after the transfer to another party, then the Group will continue to recognise the value of the portion of the risks and rewards retained.

Page 26

POLYSTAR PRIVATE TRADING ESTATES LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2025

2.Accounting policies (continued)

2.9

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.

2.10

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

2.11

Operating leases: the Group as lessee

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

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

2.12

Pensions

Defined contribution pension plan

The Group operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Group pays fixed contributions into a separate entity. Once the contributions have been paid the Group has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately from the Group in independently administered funds.

Page 27

POLYSTAR PRIVATE TRADING ESTATES LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2025

2.Accounting policies (continued)

2.13

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company and the Group operate and generate income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:

∙The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and

∙Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

2.14

Research and development

In the research phase of an internal project it is not possible to demonstrate that the project will generate future economic benefits and hence all expenditure on research shall be recognised as an expense when it is incurred. Intangible assets are recognised from the development phase of a project if and only if certain specific criteria are met in order to demonstrate the asset will generate probable future economic benefits and that its cost can be reliably measured. The capitalised development costs are subsequently amortised on a straight-line basis over their useful economic lives, which range from 3 to 6 years.

If it is not possible to distinguish between the research phase and the development phase of an internal project, the expenditure is treated as if it were all incurred in the research phase only.

Page 28

POLYSTAR PRIVATE TRADING ESTATES LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2025

2.Accounting policies (continued)

2.15

Intangible assets

Goodwill

Goodwill represents the difference between amounts paid on the cost of a business combination and the acquirer’s interest in the fair value of the Group's share of its identifiable assets and liabilities of the acquiree at the date of acquisition. Subsequent to initial recognition, goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is amortised on a straight-line basis to the Consolidated Statement of Comprehensive Income over its useful economic life.

Other intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

2.16

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

Investments in unlisted Group shares, whose market value can be reliably determined, are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in the Consolidated Statement of Comprehensive Income for the period. Where market value cannot be reliably determined, such investments are stated at historic cost less impairment.

Investments in listed company shares are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in profit or loss for the period.

Page 29

POLYSTAR PRIVATE TRADING ESTATES LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2025

3.	Judgments in applying accounting policies and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgments, estimates and assumptions that affect the amounts reported for assets and liabilities as at the balance sheet date and the amounts reported for revenues and expenses during the year. However, the nature of estimation means that actual outcomes could differ from those estimates. The following judgments (apart from those involving estimates) have had the most significant effect on amounts recognised in the financial statements.

Revenue recognition

The key judgment made by management in respect of revenue is the point at which that revenue should be recognised. Management consider that revenue is to be recognised at the point that the customer has signed for the delivery of the goods as this is when the risks and rewards of ownership are transferred.

Tangible fixed assets

Tangible fixed assets are depreciated over their useful lives taking into account residual values, where appropriate. The actual lives of the assets and residual values are assessed annually and may vary depending on a number of factors. Residual value assessments consider issues such as the remaining life of the asset and projected disposal values.

Taxation

The Company establishes provisions based on reasonable estimates, for possible consequences of audits by the tax authorities. The amount of such provisions is based on various factors, such as experience with previous tax submissions. Management estimation is required to determine the amount of deferred tax assets that can be recognised, based upon likely timing and level of future taxable profits together with an assessment of the effect of future tax planning strategies.

Operating lease commitments

The Company has entered into commercial lease contracts and as a lessee it obtains use of property, plant and equipment. The classification of such leases as operating or finance lease requires the Company to determine, based on an evaluation of the terms and conditions of the arrangements, whether it retains or acquires the significant risks and rewards of ownership of these assets and accordingly whether the lease requires an asset and liability to be recognised in the Balance Sheet.

Page 30

POLYSTAR PRIVATE TRADING ESTATES LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2025

4.	Turnover
		2025	2024
		£	£

Sales	54,450,131	53,257,961
	54,450,131	53,257,961

Analysis of turnover by country of destination:

					2025	2024
					£	£

United Kingdom	51,890,071	50,788,758
Rest of Europe	2,560,060	2,469,203
	54,450,131	53,257,961

5.	Other operating income
		2025	2024
		£	£

Sundry income	538,635	414,845
	538,635	414,845

Research & development charged as an expense	32,110	166,492
Exchange differences	79,422	(53,281)
Other operating lease rentals	699,134	647,417
Depreciation	4,229,418	4,091,655
Amortisation	(1,946,144)	(1,946,144)
	2,870,876	2,679,717

Page 31

POLYSTAR PRIVATE TRADING ESTATES LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2025

Fees payable to the Company's auditors and their associates for the audit of the consolidated and parent Company's financial statements	26,700	26,350
Fees payable to the Company's auditors and their associates in respect of:
Taxation compliance services	4,950	4,650

8.	Employees
	Staff costs, including Directors' remuneration, were as follows:

		Group	Group
		2025	2024
		£	£


Wages and salaries	9,301,059	8,379,665
Social security costs	1,059,402	854,672
Cost of defined contribution scheme	174,630	176,845
	10,535,091	9,411,182

The average monthly number of employees, including the Directors, during the year was as follows:

	2025	2024
	No.	No.

Office	38	38
Factory	210	202
Directors	4	4

	252	244

9.	Directors' remuneration

	The highest paid Director received remuneration of £30,000 (2024 - £30,000).
	The value of the Group's contributions paid to a defined contribution pension scheme in respect of the highest paid Director amounted to £40,000 (2024 - £40,000).

Key management personel are deemed to be the directors as disclosed above.

Page 32

POLYSTAR PRIVATE TRADING ESTATES LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2025

Corporation tax
Current tax on profits for the year	167,915	70,046
Adjustments in respect of previous periods	(30,703)	(168,941)
	137,212	(98,895)

Total current tax	137,212	(98,895)

Deferred tax
Origination and reversal of timing differences	21,537	884,975
Total deferred tax	21,537	884,975


		158,749	786,080

Page 33

POLYSTAR PRIVATE TRADING ESTATES LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2025

10.Taxation (continued)

Profit on ordinary activities before tax

5,293,774

5,362,052

Profit on ordinary activities multiplied by standard rate of corporation tax in the UK of 25% (2024 - 25%)	1,323,443	1,340,513
Effects of:
Expenses not deductible for tax purposes	48,308	48,046
Capital allowances for year in excess of depreciation	49,566	49,381
Adjustments to tax charge in respect of prior periods	(30,703)	(167,941)
Remeasurement of deferred tax for changes in tax rate	-	(246,802)
Adjustments to tax charge in respect of previous periods - deferred tax	(783,178)	-
Movement in deferred tax not recognised	11,250	149,374
Dividends from UK companies	(375,000)	(250,000)
Other differences leading to an increase (decrease) in the tax charge	(73,687)	(136,491)
Chargeable gains/(losses)	(11,250)	-
Total tax charge for the year	158,749	786,080

Page 34

POLYSTAR PRIVATE TRADING ESTATES LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2025

10.Taxation (continued)

Factors that may affect future tax charges

There were no factors that may affect future tax charges.

11.	Intangible assets
	Group and Company

	Computer software	Goodwill	Total
	£	£	£
Cost
At 1 August 2024	46,143	(9,730,721)	(9,684,578)
Additions	94,242	-	94,242
At 31 July 2025	140,385	(9,730,721)	(9,590,336)
Amortisation
At 1 August 2024	-	(2,919,216)	(2,919,216)
Charge for the year	-	(1,946,144)	(1,946,144)
At 31 July 2025	-	(4,865,360)	(4,865,360)
Net book value
At 31 July 2025	140,385	(4,865,361)	(4,724,976)
At 31 July 2024	46,143	(6,811,505)	(6,765,362)

Page 35

POLYSTAR PRIVATE TRADING ESTATES LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2025

12.	Tangible fixed assets
	Group

	Short-term leasehold property	Plant and machinery	Motor vehicles	Fixtures and fittings	Computer equipment	Total
	£	£	£	£	£	£
Cost or valuation
At 1 August 2024	7,863,183	23,631,020	304,093	252,903	90,433	32,141,632
Additions	2,210,580	2,894,653	-	17,956	117,503	5,240,692
Disposals	-	(59,000)	-	-	-	(59,000)
At 31 July 2025	10,073,763	26,466,673	304,093	270,859	207,936	37,323,324
Depreciation
At 1 August 2024	1,859,247	13,710,052	185,408	142,554	80,879	15,978,140
Charge for the year on owned assets	352,853	3,815,460	11,286	24,650	25,169	4,229,418
Disposals	-	(48,183)	-	-	-	(48,183)
At 31 July 2025	2,212,100	17,477,329	196,694	167,204	106,048	20,159,375
Net book value
At 31 July 2025	7,861,663	8,989,344	107,399	103,655	101,888	17,163,949
At 31 July 2024	6,003,936	9,920,968	118,685	110,349	9,554	16,163,492

The net book value of land and buildings may be further analysed as follows:
	2025	2024
	£	£

Short leasehold	7,861,663	6,003,937
	7,861,663	6,003,937

Page 36

POLYSTAR PRIVATE TRADING ESTATES LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2025

12.Tangible fixed assets (continued)

	Company

		Short-term leasehold property
		£
	Cost or valuation
	Prior Year Adjustment	4,807,004
	At 1 August 2024 (as restated)	4,807,004
	Additions	2,180,726
	At 31 July 2025	6,987,730

	At 31 July 2025	-
	Net book value
	At 31 July 2025	6,987,730
	At 31 July 2024 (as restated)	4,807,004

Page 37

POLYSTAR PRIVATE TRADING ESTATES LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2025

13.	Fixed asset investments

	Company

		Investments in subsidiary companies
		£
	Cost or valuation
	At 1 August 2024	13,802,861
	At 31 July 2025	13,802,861

Subsidiary undertaking
The following was a subsidiary undertaking of the Company:
Name	Class of shares	Holding

Polystar Plastics Limited

Ordinary

100%

	The aggregate of the share capital and reserves as at 31 July 2025 and the profit or loss for the year ended on that date for the subsidiary undertaking were as follows:
	Name	Aggregate of share capital and reserves	Profit/(Loss)

Polystar Plastics Limited

22,585,298

2,585,448

Page 38

POLYSTAR PRIVATE TRADING ESTATES LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2025

14.	Investment property

	Company

		Freehold investment property
		£

	At 1 August 2024 (as previously stated)	3,179,152
	Prior year adjustment	(3,179,152)
	At 31 July 2025	-

15.	Stocks
		Group	Group
		2025	2024
		£	£

Raw materials and consumables	3,679,077	1,681,537
Finished goods and goods for resale	3,185,878	344,525
	6,864,955	2,026,062

The difference between purchase price or production cost of stocks and their replacement cost is not material.

Page 39

POLYSTAR PRIVATE TRADING ESTATES LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2025

16.

Debtors

Group	Group As restated	Company	Company As restated
2025	2024	2025	2024
£	£	£	£

Due after more than one year
Other debtors	1,477,449	1,482,357	-	-
	1,477,449	1,482,357	-	-
Due within one year
Trade debtors	12,474,218	10,788,400	-	-
Amounts owed by group undertakings	-	-	2,214,422	2,994,995
Other debtors	1,084,076	1,522,323	-	-
Prepayments and accrued income	148,815	2,084,486	7,762	3,545
	15,184,558	15,877,566	2,222,184	2,998,540

17.	Cash and cash equivalents
		Group	Group	Company	Company
		2025	2024	2025	2024
		£	£	£	£

	Cash at bank and in hand	4,013,301	6,314,464	1,022,452	709,349

18.	Creditors: Amounts falling due within one year
		Group	Group As restated	Company	Company As restated
		2025	2024	2025	2024
		£	£	£	£

Trade creditors	6,051,875	5,445,144	-	-
Corporation tax	204,230	70,046	204,230	70,046
Other taxation and social security	1,600,321	487,298	-	-
Other creditors	3,210,460	3,762,507	2,523,535	1,677,000
Accruals and deferred income	488,919	561,807	8,804	9,000
	11,555,805	10,326,802	2,736,569	1,756,046

Page 40

POLYSTAR PRIVATE TRADING ESTATES LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2025

19.	Deferred taxation
	Group

		2025
		£

	At beginning of year	(1,842,228)
	Charged to profit or loss	(21,537)
	At end of year	(1,863,765)

Company


		£

	Charged to profit or loss	(72,934)
	At end of year	(72,934)

The provision for deferred taxation is made up as follows:
	Group	Group	Company
	2025	2024	2025
	£	£	£

Fixed asset timing differences	(1,970,493)	(2,039,294)	(72,934)
Losses and other deductions	5,739	191,373	-
Short term timing differences	100,989	5,693	-
	(1,863,765)	(1,842,228)	(72,934)

20.	Share capital
		2025	2024
		£	£

Allotted, called up and fully paid

16,712,861 (2024 - 16,712,861) Ordinary shares of £1.00 each	16,712,861	16,712,861

Page 41

POLYSTAR PRIVATE TRADING ESTATES LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2025

21.

Reserves

Capital redemption reserve

The capital redemption reserve of £2,773,000 relates to a reduction in share capital during the year ended 31 July 2023.

Profit and loss account

The profit and loss account represents cumulative profits available for distribution.

22.	Prior year adjustment

During the year a detailed review into the new warehouse was undertaken. As the new warehouse is owned by Polystar Private Tradng Estates Limited, all costs relating to the development of this should be shown in these accounts. £1,627,852 previously shown in Polystar Plastics Limited was transferred to PPTE via an intercompany account. There was no impact on reserves or profit and loss.

A review identified properties totalling £3,179,152 previously treated as investment properties in the company accounts needed to be transfered to property plant and equipment to match the postion on consolidation as the properties are not held for investment but for trading activites and rented to its trading subsidary Polystar Plastics Limited. There has been no impact on reserves or profit and loss.

A review has identified that a dividend on re-structure that should of been recieved from Polystar Plastics Limited in 2023 was excluded totalling £2,773,000. This has increased the reserves in the company.

23.	Capital commitments
	At 31 July 2025 the Group and Company had capital commitments as follows:
		Group	Group
		2025	2024
		£	£

	Contracted for but not provided in these financial statements	564,947	2,329,927
		564,947	2,329,927

24.	Pension commitments

The Group operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £174,630 (2024: £176,845). There was a balance of £61,216 (2024: £53,394) payable to the fund at the balance sheet date.

Page 42

POLYSTAR PRIVATE TRADING ESTATES LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2025

25.	Commitments under operating leases
	At 31 July 2025 the Group and the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:
		Group	Group
		2025	2024
		£	£

Not later than 1 year	1,444,479	1,341,665
Later than 1 year and not later than 5 years	410,439	1,125,390
	1,854,918	2,467,055

26.

Related party transactions

Rent of £228,834 (2024: £201,905), based on the current market values, was paid in respect of property owned by the directors.

Included in other creditors are loans from the directors amounting to £124,083 (2024: £301,514).

The Company paid rent and other fees of £559,000 (2024: £767,500) to Polystar Plastics (Holdings) Limited, a company related through common ownership. Rent was paid at a commerical market rate. During the year Polystar Plastics Limited paid expenses on behalf of Polystar Plastics (Holdings) Limited of £NIL (2024: £NIL). At the year end date £880,000 (2024: £750,000) was owed to Polystar Plastics Limited.

27.	Controlling party

No individual controls Polystar Private Trading Estates Limited.

Page 43