Polyline Group Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 07739325 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 March 2021

for

Polyline Group Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

Mrs H M Mason

G Mason

REGISTERED OFFICE:

Unit 4-8 Widnes Business Park

Foundry Lane

Widnes

Cheshire

WA8 8UD

REGISTERED NUMBER:

07739325 (England and Wales)

ACCOUNTANTS:

Jones Rotherham Limited

FIXED ASSETS

Tangible assets

4

1,989

2,651

CURRENT ASSETS

Stocks

125,862

78,555

Debtors

5

53,915

132,341

Cash at bank and in hand

192,417

118,783

372,194

329,679

CREDITORS

Amounts falling due within one year

6

352,396

313,387

NET CURRENT ASSETS

19,798

16,292

TOTAL ASSETS LESS CURRENT LIABILITIES

21,787

18,943

CAPITAL AND RESERVES

Called up share capital

109

109

Retained earnings

21,678

18,834

SHAREHOLDERS' FUNDS

21,787

18,943

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2021 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 applicable to companies subject to the small companies regime.

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 and authorised for issue on 23 November 2021 and were signed on its behalf by:

G Mason - Director

1.	STATUTORY INFORMATION

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

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates,

value added tax and other sales taxes.

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 etc

-

20% on cost and 15% 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.

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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss 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 profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 26 (2020 - 22 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 April 2020

and 31 March 2021

12,350

DEPRECIATION

At 1 April 2020

9,699

Charge for year

662

At 31 March 2021

10,361

NET BOOK VALUE

At 31 March 2021

1,989

At 31 March 2020

2,651

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.21

31.3.20

£

£

Trade debtors

-

52,496

Other debtors

53,915

79,845

53,915

132,341

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.21

31.3.20

£

£

Bank loans and overdrafts

154,242

-

Trade creditors

1

167,711

Taxation and social security

118,630

65,076

Other creditors

79,523

80,600

352,396

313,387

7.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is G Mason.