Polygon Business Solutions Ltd
Polygon Business Solutions Ltd
Registered number: 4240818
Financial Statements
For The Year Ended 30 June 2018
Maple Accounting Services Ltd
62 Heol Briwnant
Cardiff
CF14 6QH
Polygon Business Solutions Ltd
Financial Statements
For The Year Ended 30 June 2018
Financial Statements
| Contents | |
| Page | |
|---|---|
| Balance Sheet | 1—2 |
| Notes to the Financial Statements | 3—4 |
Polygon Business Solutions Ltd
Balance Sheet
As at
30 June 2018
Balance Sheet
Registered number:
4240818
For the year ending 30 June 2018 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
| 2018 | 2017 | ||||
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| Notes | £ | £ | £ | £ | |
| FIXED ASSETS | |||||
| Tangible Assets | 6 |
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| CURRENT ASSETS | |||||
| Debtors | 7 |
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| Cash at bank and in hand |
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| Creditors: Amounts Falling Due Within One Year | 8 |
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| NET CURRENT ASSETS (LIABILITIES) |
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| TOTAL ASSETS LESS CURRENT LIABILITIES |
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| NET ASSETS |
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| CAPITAL AND RESERVES | |||||
| Called up share capital | 9 |
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| Profit and Loss Account |
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| SHAREHOLDERS' FUNDS | 16,113 | 37,929 | |||
Page 1
Polygon Business Solutions Ltd
Balance Sheet (continued)
As at
30 June 2018
Directors' responsibilities:
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The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. -
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. -
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime. - The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
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The notes on pages 3 to 4 form part of these financial statements.
Page 2
Polygon Business Solutions Ltd
Notes to the Financial Statements
For The Year Ended 30 June 2018
Notes to the Financial Statements
1.
Accounting Policies
1.1.
Basis of Preparation of Financial Statements
The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).
1.2.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
1.3.
Tangible Fixed Assets and Depreciation
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
| Fixtures & Fittings |
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1.4.
Taxation
The charge for taxation takes into account taxation deferred as a result of timing differences between the treatment of certain items for taxation and accounting purposes. In general, deferred taxation is recognised in respect of timing differences that have originated but not reversed at the balance sheet date. However, deferred tax assets are recognised only to the extent that the directors consider that it is more likely than not that there will be suitable taxable profits from which the future reversal of the underlying timing differences can be deducted. Deferred taxation is measured on a non-discounted basis at the tax rates that are expected to apply in periods in which the timing differences reverse, based on tax rates and the law enacted or substantively enacted at the balance sheet date.
1.5.
Registrar Filing Requirements
The company has taken advantage of Companies Act 2006 section 444(1) and opted not to file the profit and loss account, directors report, and notes to the financial statements relating to the profit and loss account. The notes which are not included have been hidden but original note numbering has remained the same for those that are present.
4.
Average Number of Employees
Average number of employees, including directors, during the year was as follows:
6.
Tangible Assets
| Fixtures & Fittings | |
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| £ | |
| Cost | |
| As at |
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| As at |
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| Depreciation | |
| As at |
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| Provided during the period |
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| As at |
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| Net Book Value | |
| As at |
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| As at |
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Page 3
Polygon Business Solutions Ltd
Notes to the Financial Statements (continued)
For The Year Ended 30 June 2018
7.
Debtors
| 2018 | 2017 | ||
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| £ | £ | ||
| Due within one year | |||
| Trade debtors |
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8.
Creditors: Amounts Falling Due Within One Year
| 2018 | 2017 | ||
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| £ | £ | ||
| Trade creditors |
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| Corporation tax |
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| Other taxes and social security |
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| Directors' loan accounts |
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10.
Directors Advances, Credits and Guarantees
Dividends paid to directors
11.
Dividends
| 2018 | 2017 | ||
|---|---|---|---|
| £ | £ | ||
| On equity shares: | |||
| Interim dividend paid |
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| 11,226 | 16,892 | ||
12.
Ultimate Controlling Party
The company's ultimate controlling party is Julia Davies and Michael Knight by virtue of their ownership of 75% of the issued share capital in the company.
13.
General Information
Polygon Business Solutions Ltd Registered number 4240818 is a limited by shares company incorporated in England & Wales. The Registered Office is 44 Copperfield Drive, Thornhill, Cardiff, CF14 9DD.
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