Polybond Limited - Period Ending 2017-04-30

Registration number: 04323529

Polybond Limited

Unaudited Abbreviated Accounts

for the Year Ended 30 April 2016
 

CRK Accounting Limited
12a Fleet Business Park
Fleet
Hants
GU52 8BF

Polybond Limited
Contents

Abbreviated Balance Sheet 1

Notes to the Abbreviated Accounts 2 to 3

Polybond Limited
(Registration number: 04323529)
Abbreviated Balance Sheet at 30 April 2016

		Note			2016 £			2015 £
Fixed assets
Tangible fixed assets					958,695			706,783
Current assets
Stocks					121,554			123,745
Debtors					542,697			524,055
Cash at bank and in hand					2,739,211			2,751,344
					3,403,462			3,399,144
Creditors: Amounts falling due within one year					(461,191)			(479,634)
Net current assets					2,942,271			2,919,510
Total assets less current liabilities					3,900,966			3,626,293
Creditors: Amounts falling due after more than one year					(39,131)			-
Provisions for liabilities					(13,063)			(13,548)
Net assets					3,848,772			3,612,745
Capital and reserves
Called up share capital		3			1			1
Profit and loss account					3,848,771			3,612,744
Shareholders' funds					3,848,772			3,612,745

For the year ending 30 April 2016 the company was entitled to exemption 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 director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime .

Approved by the director on 30 January 2017

.........................................
H E Brown
Director

The notes on pages 2 to 3 form an integral part of these financial statements.
Page 1

Polybond Limited
Notes to the Abbreviated Accounts for the Year Ended 30 April 2016
......... continued

1	Accounting policies

Basis of preparation

The full financial statements, from which these abbreviated accounts have been extracted, 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 amounts chargeable, net of value added tax, in respect of the sale of goods and services to customers.

Goodwill

Positive goodwill is capitalised, classified as an asset on the balance sheet and amortised on a straight line basis over its useful economic life. It is reviewed for impairment at the end of the first full financial year following the acquisition and in other periods if events or changes in circumstances indicate that the carrying value may not be recoverable.

Amortisation

Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows:

Asset class	Amortisation method and rate
Goodwill	20 years
Intellectual property	20 years

Depreciation

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

Asset class	Depreciation method and rate
Plant and machinery	25% on reducing balance
Fixtures and fittings	25% on reducing balance
Motor vehicles	25% on reducing balance
Office equipment	33% on cost
Freehold land and buildings	2% on cost

Stock

Stock is valued at the lower of cost and net realisable value, after due regard for obsolete and slow moving stocks. Net realisable value is based on selling price less anticipated costs to completion and selling costs.

Deferred tax

Deferred tax is recognised, without discounting, in respect of all timing differences between the treatment of certain items for taxation and accounting purposes, which have arisen but not reversed by the balance sheet date, except as required by the FRSSE. Deferred tax is measured at the rates that are expected to apply in the periods when the timing differences are expected to reverse, based on the tax rates and law enacted at the balance sheet date.

Page 2

Polybond Limited
Notes to the Abbreviated Accounts for the Year Ended 30 April 2016
......... continued

2	Fixed assets

		Intangible assets £			Tangible assets £			Total £
Cost
At 1 May 2015		893,600			1,068,570			1,962,170
Additions		-			297,925			297,925
At 30 April 2016		893,600			1,366,495			2,260,095
Depreciation
At 1 May 2015		893,600			361,787			1,255,387
Charge for the year		-			46,013			46,013
At 30 April 2016		893,600			407,800			1,301,400
Net book value
At 30 April 2016		-			958,695			958,695
At 30 April 2015		-			706,783			706,783

3	Share capital

Allotted, called up and fully paid shares

	2016						2015
		No.			£			No.			£
Ordinary of £1 each		1			1			1			1

Page 3