Polymec Rollers Limited - Abbreviated accounts 16.3

REGISTERED NUMBER: 02856090 (England and Wales)

ABBREVIATED UNAUDITED ACCOUNTS

FOR THE YEAR ENDED 31 MARCH 2016

FOR

POLYMEC ROLLERS LIMITED

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

3

DIRECTORS:

T I Perfect

Mrs J M Perfect

M Powell

SECRETARY:

Mrs J M Perfect

REGISTERED OFFICE:

First Floor

5 Doolittle Yard

Froghall Road

Ampthill

Bedfordshire

LU1 3HN

REGISTERED NUMBER:

02856090 (England and Wales)

ACCOUNTANTS:

GKP (Ampthill) Limited

Chartered Accountants

First Floor

5 Doolittle Yard

Froghall Road

Ampthill

Bedfordshire

MK45 2NW

FIXED ASSETS

Tangible assets

2

2,262

2,350

CURRENT ASSETS

Stocks

11,649

9,815

Debtors

29,304

21,082

Cash at bank

112,581

59,806

153,534

90,703

CREDITORS

Amounts falling due within one year

114,639

105,764

NET CURRENT ASSETS/(LIABILITIES)

38,895

(15,061

)

TOTAL ASSETS LESS CURRENT
LIABILITIES

41,157

(12,711

)

CAPITAL AND RESERVES

Called up share capital

3

400

Profit and loss account

40,757

(13,111

)

SHAREHOLDERS' FUNDS

41,157

(12,711

)

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 28 March 2017 and were signed on its
behalf by:

Mrs J M Perfect - 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

-

25% on reducing balance

Fixtures and fittings

-

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.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 April 2015

38,976

Additions

928

At 31 March 2016

39,904

DEPRECIATION

At 1 April 2015

36,626

Charge for year

1,016

At 31 March 2016

37,642

NET BOOK VALUE

At 31 March 2016

2,262

At 31 March 2015

2,350

3.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2016

2015

value:

£

400

Ordinary

£1

400

4.	RELATED PARTY DISCLOSURES

During the year, the company paid rent of £6,000 (2015 - £6,000) and management charges of

£1,200 (2015 - £1,500) to Kombi Services Limited, a company in which Mr T I and Mrs J M Perfect

are also directors and shareholders.

At the balance sheet date, the company owed £63,725 (2015 - £68,316) to Kombi Services Limited

by way of an inter-company loan.

At the balance sheet date, an amount of £8,179 (2015 - £15,548) was due to the directors.