Polyverse Ltd - Abbreviated accounts 16.1

REGISTERED NUMBER: 06780102 (England and Wales)

ABBREVIATED UNAUDITED ACCOUNTS

FOR THE YEAR ENDED 31 DECEMBER 2015

FOR

POLYVERSE LTD

Page

Company Information

1

Abbreviated Balance Sheet

2

to

3

Notes to the Abbreviated Accounts

4

to

5

DIRECTORS:

O Charles-Richards

Mrs K R Charles-Richards

Ms A Simcisinova

SECRETARY:

O Charles-Richards

REGISTERED OFFICE:

31 - 37 Friar Lane

Nottingham

United Kingdom

NG1 6DD

REGISTERED NUMBER:

06780102 (England and Wales)

ACCOUNTANTS:

Smith Cooper Limited

Chartered Accountants

St Helen's House

King Street

Derby

DE1 3EE

FIXED ASSETS

Tangible assets

2

135,144

46,004

CURRENT ASSETS

Stocks

5,730

27,840

Debtors

24,932

114,587

Cash at bank and in hand

2,374

98,535

33,036

240,962

CREDITORS

Amounts falling due within one year

91,040

107,604

NET CURRENT (LIABILITIES)/ASSETS

(58,004

)

133,358

TOTAL ASSETS LESS CURRENT LIABILITIES

77,140

179,362

CREDITORS

Amounts falling due after more than one year

(7,906

)

(52,490

)

PROVISIONS FOR LIABILITIES

(26,397

)

(8,673

)

NET ASSETS

42,837

118,199

CAPITAL AND RESERVES

Called up share capital

3

100

100

Profit and loss account

42,737

118,099

SHAREHOLDERS' FUNDS

42,837

118,199

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2015.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2015 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the Board of Directors on 30 September 2016 and were signed on its behalf by:

O Charles-Richards - Director

1.	ACCOUNTING POLICIES

Accounting convention

The financial statements have been prepared under the historical cost convention and in accordance

with the Financial Reporting Standard for Smaller Entities (effective January 2015).

Turnover

Turnover represents net invoiced sales of goods, excluding value added tax.

Turnover is recognised at point of sale.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery etc

-

33% on cost and 25% on reducing balance

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for

obsolete and slow moving items.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at

the balance sheet date.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 January 2015

83,136

Additions

133,364

Disposals

(51,177

)

At 31 December 2015

165,323

DEPRECIATION

At 1 January 2015

37,132

Charge for year

27,224

Eliminated on disposal

(34,177

)

At 31 December 2015

30,179

NET BOOK VALUE

At 31 December 2015

135,144

At 31 December 2014

46,004

3.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2015

2014

value:

£

£

100

Ordinary

1

100

100