Polymer Industries Limited - Abbreviated accounts 16.3

REGISTERED NUMBER: 08721277 (England and Wales)

Abbreviated Unaudited Accounts

for the Year Ended 31 March 2016

for

Polymer Industries Limited

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTORS:

J A Goozee

J M Gibbins

G D T Coombs

I Botwright

REGISTERED OFFICE:

14a Albany Road

Weymouth

Dorset

DT4 9TH

REGISTERED NUMBER:

08721277 (England and Wales)

ACCOUNTANTS:

Advoco

Chartered Certified Accountants

Chartered Tax Advisers

14a Albany Road

Weymouth

Dorset

DT4 9TH

FIXED ASSETS

Tangible assets

2

18,288

-

CURRENT ASSETS

Stocks

61,025

3,000

Debtors

55,347

122,116

Cash at bank

6,225

3,422

122,597

128,538

CREDITORS

Amounts falling due within one
year

96,098

67,737

NET CURRENT ASSETS

26,499

60,801

TOTAL ASSETS LESS CURRENT
LIABILITIES

44,787

60,801

CREDITORS

Amounts falling due after more
than one year

30,483

23,496

NET ASSETS

14,304

37,305

CAPITAL AND RESERVES

Called up share capital

3

4

Profit and loss account

14,300

37,301

SHAREHOLDERS' FUNDS

14,304

37,305

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2016 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 22 December 2016
and were signed on its behalf by:

J A Goozee - Director

J M Gibbins - Director

G D T Coombs - Director

I Botwright - 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.

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

-

15% on reducing balance

Fixtures and fittings

-

15% 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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to the profit and loss account on

a straight line basis over the period of the lease.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

Additions

21,484

At 31 March 2016

21,484

DEPRECIATION

Charge for year

3,196

At 31 March 2016

3,196

NET BOOK VALUE

At 31 March 2016

18,288

3.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2016

2015

value:

£

2

Ordinary

£1

4