Polystrop Limited - Limited company - abbreviated - 11.6

Polystrop Limited - Limited company - abbreviated - 11.6


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REGISTERED NUMBER: 01323404















POLYSTROP LIMITED

ABBREVIATED UNAUDITED ACCOUNTS FOR THE YEAR ENDED 31 JULY 2014






POLYSTROP LIMITED (REGISTERED NUMBER: 01323404)






CONTENTS OF THE ABBREVIATED ACCOUNTS
for the Year Ended 31 July 2014




Page

Company Information 1

Abbreviated Balance Sheet 2

Notes to the Abbreviated Accounts 4

Chartered Accountants' Report 6

POLYSTROP LIMITED

COMPANY INFORMATION
for the Year Ended 31 July 2014







DIRECTORS: N S Bradshaw
Mrs E Bradshaw
Mrs J Porter
C L Porter



REGISTERED OFFICE: 1 Abacus House
Newlands Road
Corsham
Wiltshire
SN13 0BH



REGISTERED NUMBER: 01323404



ACCOUNTANTS: Clear Vision Accountancy Limited
1 Abacus House
Newlands Road
Corsham
Wiltshire
SN13 0BH



BANKERS: Barclays Bank Plc
PO Box 415
14-16 Queens Square
Bristol
BS99 2DG

POLYSTROP LIMITED (REGISTERED NUMBER: 01323404)

ABBREVIATED BALANCE SHEET
31 July 2014

2014 2013
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 2 136,051 67,407

CURRENT ASSETS
Stocks 144,886 147,983
Debtors 548,676 468,528
Cash at bank and in hand 161 194
693,723 616,705
CREDITORS
Amounts falling due within one year 3 717,301 611,819
NET CURRENT (LIABILITIES)/ASSETS (23,578 ) 4,886
TOTAL ASSETS LESS CURRENT
LIABILITIES

112,473

72,293

CREDITORS
Amounts falling due after more than one year 3 (29,157 ) -

PROVISIONS FOR LIABILITIES (27,045 ) (13,279 )
NET ASSETS 56,271 59,014

CAPITAL AND RESERVES
Called up share capital 4 122 122
Capital redemption reserve 50 50
Profit and loss account 56,099 58,842
SHAREHOLDERS' FUNDS 56,271 59,014

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 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.

POLYSTROP LIMITED (REGISTERED NUMBER: 01323404)

ABBREVIATED BALANCE SHEET - continued
31 July 2014


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 16 January 2015 and were signed on its behalf by:





C L Porter - Director


POLYSTROP LIMITED (REGISTERED NUMBER: 01323404)

NOTES TO THE ABBREVIATED ACCOUNTS
for the Year Ended 31 July 2014

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 or, if held under a finance lease, over the lease term, whichever is the shorter.

Plant and machinery etc - 33% on cost, 25% on reducing balance, 15% on reducing balance and in accordance with the property

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 timing differences that have originated but not reversed at the balance sheet date.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire
purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their
estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to the profit and loss account over the relevant period. The capital element of
the future payments is treated as a liability.

Rentals paid under operating leases are charged to the profit and loss account on a straight line basis over the period of the lease.

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 the profit and loss account in the period to which they relate.

Going concern
The directors have assessed whether the company is a going concern and have considered all available information about the
future and are confident of the company's ability to continue as a going concern.

POLYSTROP LIMITED (REGISTERED NUMBER: 01323404)

NOTES TO THE ABBREVIATED ACCOUNTS - continued
for the Year Ended 31 July 2014

2. TANGIBLE FIXED ASSETS
Total
£   
COST
At 1 August 2013 155,531
Additions 83,052
At 31 July 2014 238,583
DEPRECIATION
At 1 August 2013 88,124
Charge for year 14,408
At 31 July 2014 102,532
NET BOOK VALUE
At 31 July 2014 136,051
At 31 July 2013 67,407

3. CREDITORS

Creditors include an amount of £ 274,869 (2013 - £ 246,900 ) for which security has been given.

4. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2014 2013
value: £    £   
122 Ordinary 1.00 122 122

5. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

At the year end the company owed £1,976 (2013 - £1,019) to Mr N S Bradshaw under the fixed profit car scheme.

The directors of the company received dividends during the year as follows:

Mr C L Porter £29,120
Mr N S Bradshaw £29,120
Mrs J Porter £28,180
Mrs E Bradshaw £28,180


CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS
ON THE UNAUDITED FINANCIAL STATEMENTS OF
POLYSTROP LIMITED

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial
statements, from which the unaudited abbreviated accounts (set out on pages two to five) have been prepared.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of
Polystrop Limited for the year ended 31 July 2014 which comprise the Profit and Loss Account, the Balance Sheet and the related notes
from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and
other professional requirements which are detailed at icaew.com/membershandbook.

This report is made solely to the Board of Directors of Polystrop Limited, as a body, in accordance with our terms of engagement. Our
work has been undertaken solely to prepare for your approval the financial statements of Polystrop Limited and state those matters that we
have agreed to state to the Board of Directors of Polystrop Limited, as a body, in this report in accordance with AAF 2/10 as detailed at
icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the
company and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Polystrop Limited has kept adequate accounting records and to prepare statutory financial statements that give
a true and fair view of the assets, liabilities, financial position and profit of Polystrop Limited. You consider that Polystrop Limited is
exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Polystrop Limited. For this reason, we have not
verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not,
therefore, express any opinion on the statutory financial statements.






Clear Vision Accountancy Limited
1 Abacus House
Newlands Road
Corsham
Wiltshire
SN13 0BH


Date: .............................................