Polymec Rollers Limited - Limited company - abbreviated - 11.6

REGISTERED NUMBER: 02856090 (England and Wales)

ABBREVIATED UNAUDITED ACCOUNTS

FOR THE YEAR ENDED 31 MARCH 2014

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

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:

Graham Keeble Partnership LLP

Chartered Accountants

First Floor

5 Doolittle Yard

Froghall Road

Ampthill

Bedfordshire

MK45 2NW

FIXED ASSETS

Tangible assets

2

3,135

3,625

CURRENT ASSETS

Stocks

7,672

7,934

Debtors

16,098

21,487

Cash at bank

35,017

26,780

58,787

56,201

CREDITORS

Amounts falling due within one year

106,365

110,007

NET CURRENT LIABILITIES

(47,578

)

(53,806

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(44,443

)

(50,181

)

CAPITAL AND RESERVES

Called up share capital

3

2

2

Profit and loss account

(44,445

)

(50,183

)

SHAREHOLDERS' FUNDS

(44,443

)

(50,181

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2014.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2014 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 15 November 2014 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 April 2008).

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.

Deferred tax

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

reversed at the balance sheet date.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 April 2013

38,528

Additions

448

At 31 March 2014

38,976

DEPRECIATION

At 1 April 2013

34,903

Charge for year

938

At 31 March 2014

35,841

NET BOOK VALUE

At 31 March 2014

3,135

At 31 March 2013

3,625

3.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2014

2013

value:

£

£

2

Ordinary

£1

2

2

4.	RELATED PARTY DISCLOSURES

During the year, the company paid rent of £6,000 (2013 - £6,000) and management charges of £1,500

(2013 - £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 £69,255 (2013 - £70,209) to Kombi Services Limited by

way of an inter-company loan.

At the balance sheet date, an amount of £21,842 (2013 - £26,456) was due to the directors.