Polystrop Limited - Abbreviated accounts 16.1
Polystrop Limited - Abbreviated accounts 16.1
| REGISTERED NUMBER: |
| POLYSTROP LIMITED |
| ABBREVIATED UNAUDITED ACCOUNTS FOR THE YEAR ENDED 31 JULY 2016 |
| POLYSTROP LIMITED (REGISTERED NUMBER: 01323404) |
| CONTENTS OF THE ABBREVIATED ACCOUNTS |
| for the Year Ended 31 July 2016 |
| Page |
| Company Information | 1 |
| Abbreviated Balance Sheet | 2 |
| Notes to the Abbreviated Accounts | 4 |
| Chartered Accountants' Report | 6 |
| POLYSTROP LIMITED |
| COMPANY INFORMATION |
| for the Year Ended 31 July 2016 |
| DIRECTORS: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| BANKERS: |
| POLYSTROP LIMITED (REGISTERED NUMBER: 01323404) |
| ABBREVIATED BALANCE SHEET |
| 31 July 2016 |
| 2016 | 2015 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Tangible assets | 2 |
| CURRENT ASSETS |
| Stocks |
| Debtors |
| Cash at bank and in hand |
| CREDITORS |
| Amounts falling due within one year | 3 |
| NET CURRENT LIABILITIES | ( |
) | ( |
) |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year |
3 |
( |
) |
( |
) |
| PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital | 4 |
| Capital redemption reserve |
| Profit and loss account |
| SHAREHOLDERS' FUNDS |
| 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. |
| POLYSTROP LIMITED (REGISTERED NUMBER: 01323404) |
| ABBREVIATED BALANCE SHEET - continued |
| 31 July 2016 |
| The financial statements were approved by the Board of Directors on |
| POLYSTROP LIMITED (REGISTERED NUMBER: 01323404) |
| NOTES TO THE ABBREVIATED ACCOUNTS |
| for the Year Ended 31 July 2016 |
| 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 |
| Plant and machinery etc | - |
| 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 |
| Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held |
| under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases |
| are depreciated over their estimated useful lives or the lease term, whichever is the shorter. |
| The interest element of these obligations is charged to the profit and loss account over the relevant period. The |
| capital element of the future payments is treated as a liability. |
| Rentals paid under operating leases are charged to the profit and loss account on a straight line basis over the |
| period of the lease. |
| Pension costs and other post-retirement benefits |
| The company operates a defined contribution pension scheme. Contributions payable to the company's pension |
| scheme are charged to the profit and loss account in the period to which they relate. |
| Going concern |
| The directors have assessed whether the company is a going concern and have considered all available |
| information about the future and are confident of the company's ability to continue as a going concern. |
| POLYSTROP LIMITED (REGISTERED NUMBER: 01323404) |
| NOTES TO THE ABBREVIATED ACCOUNTS - continued |
| for the Year Ended 31 July 2016 |
| 2. | TANGIBLE FIXED ASSETS |
| Total |
| £ |
| COST |
| At 1 August 2015 |
| Additions |
| At 31 July 2016 |
| DEPRECIATION |
| At 1 August 2015 |
| Charge for year |
| At 31 July 2016 |
| NET BOOK VALUE |
| At 31 July 2016 |
| At 31 July 2015 |
| 3. | CREDITORS |
| Creditors include an amount of £ |
| 4. | CALLED UP SHARE CAPITAL |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 2016 | 2015 |
| value: | £ | £ |
| Ordinary | 1.00 |
| 5. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
| At the year end the company owed £nil (2015 - £2,000) to Mr N S Bradshaw under the fixed profit car scheme. |
| The directors of the company received dividends during the year as follows: |
| Mr C L Porter | £29,120 |
| Mr N S Bradshaw | £29,120 |
| Mrs J Porter | £28,180 |
| Mrs E Bradshaw | £28,180 |
| CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS |
| ON THE UNAUDITED FINANCIAL STATEMENTS OF |
| POLYSTROP LIMITED |
| The following reproduces the text of the report prepared for the directors in respect of the company's annual |
| unaudited financial statements, from which the unaudited abbreviated accounts (set out on pages two to five) |
| have been prepared. |
| In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the |
| financial statements of Polystrop Limited for the year ended 31 July 2016 which comprise the Profit and Loss Account, |
| the Balance Sheet and the related notes from the company's accounting records and from information and explanations |
| you have given us. |
| As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at icaew.com/membershandbook. |
| This report is made solely to the Board of Directors of Polystrop Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Polystrop Limited and state those matters that we have agreed to state to the Board of Directors of Polystrop Limited, as a body, in this report in accordance with AAF 2/10 as detailed at icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report. |
| It is your duty to ensure that Polystrop Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Polystrop Limited. You consider that Polystrop Limited is exempt from the statutory audit requirement for the year. |
| We have not been instructed to carry out an audit or a review of the financial statements of Polystrop Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements. |
| 11 January 2017 |