W L Polymer Limited


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Registered number: 12047777
W L Polymer Limited
Unaudited Financial Statements
For The Year Ended 30 June 2023
Morgan Keen Limited
70b High Street
Bassingbourn
Royston
SG8 5LF
Unaudited Financial Statements
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—4
Page 1
Balance Sheet
Registered number: 12047777
2023 2022
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 531,200 538,535
531,200 538,535
CURRENT ASSETS
Stocks 5 121,255 -
Debtors 6 - 113,068
Cash at bank and in hand 1,240,373 9,015
1,361,628 122,083
Creditors: Amounts Falling Due Within One Year 7 (3,925 ) (108,480 )
NET CURRENT ASSETS (LIABILITIES) 1,357,703 13,603
TOTAL ASSETS LESS CURRENT LIABILITIES 1,888,903 552,138
Creditors: Amounts Falling Due After More Than One Year 8 (1,880,227 ) (550,000 )
NET ASSETS 8,676 2,138
CAPITAL AND RESERVES
Called up share capital 9 100 100
Profit and Loss Account 8,576 2,038
SHAREHOLDERS' FUNDS 8,676 2,138
Page 1
Page 2
For the year ending 30 June 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
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
Ms Kai Ma
Director
13/12/2023
The notes on pages 3 to 4 form part of these financial statements.
Page 2
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Notes to the Financial Statements
1. General Information
W L Polymer Limited is a private company, limited by shares, incorporated in England & Wales, registered number 12047777 . The registered office is Unit 70b - The Gashouse, High Street, Bassingbourn, Cambridgeshire, SG8 5LF.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. 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:
Plant & Machinery 20% pa in written down value
Computer Equipment 20% pa on written down value
2.4. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
2.5. Foreign Currencies
Monetary 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 ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
3. Average Number of Employees
Average number of employees, including directors, during the year was: NIL (2022: NIL)
- -
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4. Tangible Assets
Plant & Machinery Computer Equipment Total
£ £ £
Cost
As at 1 July 2022 545,625 395 546,020
As at 30 June 2023 545,625 395 546,020
Depreciation
As at 1 July 2022 7,275 210 7,485
Provided during the period 7,275 60 7,335
As at 30 June 2023 14,550 270 14,820
Net Book Value
As at 30 June 2023 531,075 125 531,200
As at 1 July 2022 538,350 185 538,535
5. Stocks
2023 2022
£ £
Materials 121,255 -
6. Debtors
2023 2022
£ £
Due within one year
Trade debtors - 101,379
Other debtors - 11,689
- 113,068
7. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Trade creditors 3,925 108,480
3,925 108,480
8. Creditors: Amounts Falling Due After More Than One Year
2023 2022
£ £
Other loans 1,880,227 550,000
1,880,227 550,000
9. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 100 100
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