Polyportables Limited - Accounts to registrar (filleted)

REGISTERED NUMBER: 03304051 (England and Wales)

Unaudited Financial Statements

For The Year Ended 31 March 2018

for

Polyportables Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

R J Philpot

M V Kempthorne

SECRETARY:

Miss A J Philpot

REGISTERED OFFICE:

Unit 22 Hartlebury Trading Estate

Crown Lane

Hartlebury

Worcestershire

DY10 4JB

REGISTERED NUMBER:

03304051 (England and Wales)

ACCOUNTANTS:

Kingscott Dix Limited

Chartered Accountants

Goodridge Court

Goodridge Avenue

Gloucester

Gloucestershire

GL2 5EN

BANKERS:

Lloyds TSB Plc

130 High Street

Cheltenham

Gloucestershire

GL50 1EW

FIXED ASSETS

Tangible assets

4

142

265

CURRENT ASSETS

Stocks

59,225

75,832

Debtors

5

213,605

151,566

Cash at bank

4,476

2,291

277,306

229,689

CREDITORS

Amounts falling due within one year

6

63,264

78,565

NET CURRENT ASSETS

214,042

151,124

TOTAL ASSETS LESS CURRENT
LIABILITIES

214,184

151,389

CAPITAL AND RESERVES

Called up share capital

7

100

Retained earnings

214,084

151,289

SHAREHOLDERS' FUNDS

214,184

151,389

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2018 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 financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors on 10 September 2018 and were signed on
its behalf by:

R J Philpot - Director

1.	STATUTORY INFORMATION

Polyportables Limited is a private company, limited by shares , registered in England and Wales. The

company's registered number and registered office address can be found on the Company Information

page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods

and services provided in the normal course of business, and is shown net of VAT and other

sales related taxes. The fair value of consideration takes into account trade discounts,

settlement discounts and volume rebates.

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

-

20% on cost

Fixtures and fittings

-

20% on cost

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for

obsolete and slow moving items.

Financial instruments

The company has elected to apply the provisions of Section 11 'Basic Financial Instruments'

and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial

instruments.

Financial instruments are recognised in the company's balance sheet when the company

becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial

statements, when there is a legally enforceable right to set off the recognised amounts and

there is an intention to settle on a net basis or to realise the asset and settle the liability

simultaneously.

Basic financial assets

Basic financial assets, which include trade and other debtors and cash and bank balances, are

initially measured at transaction price including transaction costs and are subsequently carried

at amortised cost using the effective interest method unless the arrangement constitutes a

financing transaction, where the transaction is measured at the present value of the future

receipts discounted at a market rate of interest.

Impairment of financial assets

Financial assets, other than those held at fair value through profit and loss, are assessed for

indicators of impairment at each reporting end date.

Financial assets are impaired where there is objective evidence that, as a result of one or

more events that occurred after the initial recognition of the financial asset, the estimated

future cash flows have been affected. The impairment loss is recognised in profit or loss.

Derecognition of financial assets

Financial assets are derecognised only when the contractual rights to the cash flows from the

asset expire, or when it transfers the financial asset and substantially all the risks and rewards

of ownership to another entity.

Basic financial liabilities

Basic financial liabilities, including trade and other creditors, bank loans, loans from fellow

group companies and preference shares that are classified as debt, are initially recognised at

transaction price unless the arrangement constitutes a financing transaction, where the debt

instrument is measured at the present value of the future receipts discounted at a market rate

of interest.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate

method.

Trade creditors are obligations to pay for goods or services that have been acquired in the

ordinary course of business from suppliers. Trade creditors are classified as current liabilities if

payment is due within one year. If not, they are presented as creditors falling due after more than

one year. Trade creditors are recognised initially at transaction price and subsequently measured

at amortised cost using the effective interest method.

Derecognition of financial liabilities

Financial liabilities are derecognised when, and only when, the company's obligations are

discharged, cancelled, or they expire.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement,

except to the extent that it relates to items recognised in other comprehensive income or directly in

equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been

enacted or substantively enacted by the balance sheet date.

Deferred tax

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

the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods

different from those in which they are recognised in financial statements. Deferred tax is measured

using tax rates and laws that have been enacted or substantively enacted by the year end and that are

expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable

that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at

the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of

exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at

the operating result.

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 profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2017 - 3 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

machinery

fittings

Totals

£

COST

At 1 April 2017

and 31 March 2018

1,640

1,371

3,011

DEPRECIATION

At 1 April 2017

1,640

1,106

2,746

Charge for year

-

123

At 31 March 2018

1,640

1,229

2,869

NET BOOK VALUE

At 31 March 2018

-

142

At 31 March 2017

-

265

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.18

31.3.17

£

Trade debtors

81,442

44,423

Amounts Owed By Group Company

111,670

-

VAT

1,616

60,223

Prepayments and accrued income

18,877

46,920

213,605

151,566

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.18

31.3.17

£

Trade creditors

43,004

62,991

Corporation Tax

14,802

9,971

Social security and other taxes

1,279

1,678

Other creditors

59

794

Accrued expenses

4,120

3,131

63,264

78,565

7.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.3.18

31.3.17

value:

£

100

Ordinary Shares

£1

100

8.	ULTIMATE HOLDING COMPANY

Andy Loos Limited is the the 100% parent company of Polyportables Limited.

Polyportables Limited - Accounts to registrar (filleted) - small 18.2

Polyportables Limited - Accounts to registrar (filleted) - small 18.2