Registration number:
Polymer Depolymerisation Limited
Filleted
for the Year Ended 30 September 2017
Severn House
Hazell Drive
Newport
South Wales
NP10 8FY
Polymer Depolymerisation Limited
Contents
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Company Information |
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Accountants' Report |
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Balance Sheet |
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Statement of Changes in Equity |
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Notes to the Financial Statements |
Polymer Depolymerisation Limited
Company Information
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Directors |
Mr M R Thatcher Mr D J Highgate |
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Company secretary |
Mrs J Highgate |
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Registered office |
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Accountants |
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Page 1 |
Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
Polymer Depolymerisation Limited
for the Year Ended 30 September 2017
As described on the balance sheet you are responsible for the compilation of the accounts for the year ended 30 September 2017, as set out on pages 3 to 7, and you consider that the company is exempt from an audit. In accordance with your instructions we have compiled the unaudited accounts from the accounting records and from information and explanations supplied to us.
Hazell Drive
Newport
South Wales
NP10 8FY
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Page 2 |
Polymer Depolymerisation Limited
(Registration number: 07376116)
Balance Sheet as at 30 September 2017
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Note |
2017 |
2016 |
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Current assets |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
( |
( |
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Net liabilities |
( |
( |
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Capital and reserves |
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Called up share capital |
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Profit and loss account |
( |
( |
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Total equity |
( |
( |
For the financial year ending 30 September 2017 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
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• |
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The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.
Approved and authorised by the
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Mr M R Thatcher
Director
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Page 3 |
Polymer Depolymerisation Limited
Statement of Changes in Equity for the Year Ended 30 September 2017
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Share capital |
Profit and loss account |
Total |
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At 1 October 2016 |
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( |
( |
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Loss for the year |
- |
( |
( |
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Total comprehensive income |
- |
( |
( |
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At 30 September 2017 |
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( |
( |
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Share capital |
Profit and loss account |
Total |
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At 1 October 2015 |
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( |
( |
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Loss for the year |
- |
( |
( |
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Total comprehensive income |
- |
( |
( |
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At 30 September 2016 |
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( |
( |
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Page 4 |
Polymer Depolymerisation Limited
Notes to the Financial Statements for the Year Ended 30 September 2017
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General information |
The company registration number is: 07376116
The company is a private company limited by share capital incorporated in England and Wales.
The address of its registered office is:
These financial statements were authorised for issue by the
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Accounting policies |
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.
Basis of preparation
These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
Going concern
The company balance sheet is showing negative reserves due to the losses made in the previous financial periods. Although the company has not traded during the year the directors remain fully committed to the company and forecasts that in the future it will be able to meet its day to day working capital requirements. The company intends to recommence trading in the future with the continued support of its directors. For these reasons, the going concern basis remains appropriate.
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
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Page 5 |
Polymer Depolymerisation Limited
Notes to the Financial Statements for the Year Ended 30 September 2017
Trade creditors
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.
Borrowings
Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the Profit and Loss Account over the period of the relevant borrowing.
Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.
Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.
Share capital
Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.
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Creditors |
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Note |
2017 |
2016 |
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Due within one year |
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Other borrowings |
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Trade creditors |
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Accruals |
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Page 6 |
Polymer Depolymerisation Limited
Notes to the Financial Statements for the Year Ended 30 September 2017
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Loans and borrowings |
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2017 |
2016 |
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Current loans and borrowings |
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Directors' current accounts |
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Share capital |
Allotted, called up and fully paid shares
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2017 |
2016 |
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No. |
£ |
No. |
£ |
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100 |
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100 |
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Related party transactions |
Summary of transactions with key management
Relationship: Director
During the year the director made unsecured, interest free, repayable on demand loans to the company. At the balance sheet date the amount owed to the director was £9,249 (2016- £9,249).
Mr M R Thatcher
Relationship: Director
During the year the director made unsecured, interest free, repayable on demand loans to the company. At the balance sheet date the amount owed to the director was £8,100 (2016- £8,100).
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Transition to FRS 102 |
The transition to FRS 102 Section 1A small entities has resulted in no changes to the accounting policies to those used previously. There were also no restatements or remeasurements required to the profit and loss account or the balance sheet for the previous or current accounting periods.
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Page 7 |