Polino (UK) Ltd
Polino (UK) Ltd
Registered number: 06732304
Financial Statements
For The Year Ended
31 October 2020
JR Accounts
Chartered Certified Accountants
164-166 High Road
Ilford
Essex
IG1 1LL
Polino (UK) Ltd
Financial Statements
For The Year Ended
31 October 2020
Financial Statements
| Contents | |
| Page | |
|---|---|
| Balance Sheet | 1—2 |
| Notes to the Financial Statements | 3—4 |
Polino (UK) Ltd
Balance Sheet
As at
31 October 2020
Balance Sheet
Registered number:
06732304
For the year ending 31 October 2020 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
| 2020 | 2019 | ||||
|---|---|---|---|---|---|
| Notes | £ | £ | £ | £ | |
| FIXED ASSETS | |||||
| Tangible Assets | 4 |
|
|
||
|
|
|
||||
| CURRENT ASSETS | |||||
| Debtors | 5 |
|
|
||
| Cash at bank and in hand |
|
|
|||
|
|
|
||||
| Creditors: Amounts Falling Due Within One Year | 6 |
( |
( |
||
| NET CURRENT ASSETS (LIABILITIES) |
|
|
|||
| TOTAL ASSETS LESS CURRENT LIABILITIES |
|
|
|||
| Creditors: Amounts Falling Due After More Than One Year | 7 |
( |
( |
||
| NET ASSETS |
|
|
|||
| CAPITAL AND RESERVES | |||||
| Called up share capital | 8 |
|
|
||
| Profit and Loss Account |
|
|
|||
| SHAREHOLDERS' FUNDS | 22,371 | 87,320 | |||
Page 1
Polino (UK) Ltd
Balance Sheet (continued)
As at
31 October 2020
Directors' responsibilities:
-
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. -
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. -
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime. - The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
|
Director
|
|
|
The notes on pages 3 to 4 form part of these financial statements.
Page 2
Polino (UK) Ltd
Notes to the Financial Statements
For The Year Ended
31 October 2020
Notes to the Financial Statements
1.
Accounting Policies
1.1.
Basis of Preparation of Financial Statements
The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).
1.2.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
1.3.
Tangible Fixed Assets and Depreciation
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
| Fixtures & Fittings |
|
| Computer Equipment |
|
2.
Average Number of Employees
Average number of employees, including directors, during the year was as follows: 9 (2019: 9)
4.
Tangible Assets
| Fixtures & Fittings | Computer Equipment | Total | |
|---|---|---|---|
| £ | £ | £ | |
| Cost | |||
| As at
|
|
|
|
| Additions |
|
|
|
| As at
|
|
|
|
| Depreciation | |||
| As at
|
|
|
|
| Provided during the period |
|
|
|
| As at
|
|
|
|
| Net Book Value | |||
| As at
|
|
|
|
| As at
|
|
|
|
Page 3
Polino (UK) Ltd
Notes to the Financial Statements (continued)
For The Year Ended
31 October 2020
5.
Debtors
| 2020 | 2019 | ||
|---|---|---|---|
| £ | £ | ||
| Due within one year | |||
| Trade debtors |
|
|
|
| Other debtors |
|
|
|
| Directors' loan accounts |
|
- | |
|
|
|
||
6.
Creditors: Amounts Falling Due Within One Year
| 2020 | 2019 | ||
|---|---|---|---|
| £ | £ | ||
| Trade creditors |
|
|
|
| Corporation tax |
|
|
|
| Other creditors |
|
|
|
| Accruals and deferred income |
|
|
|
|
|
|
||
7.
Creditors: Amounts Falling Due After More Than One Year
| 2020 | 2019 | ||
|---|---|---|---|
| £ | £ | ||
| Other loans |
|
|
|
|
|
|
||
8.
Share Capital
| 2020 | 2019 | ||
|---|---|---|---|
| Allotted, Called up and fully paid |
|
|
|
9.
Directors Advances, Credits and Guarantees
Included within Debtors are the following loans to directors:
The above loan is unsecured, interest free and repayable on demand.
Page 4