Polyurethane Technology Limited Filleted accounts for Companies House (small and micro)

POLYURETHANE TECHNOLOGY LIMITED - Company Information

0 false false false false false false false false false true false false false false false false No description of principal activity 2021-06-28 Sage Accounts Production Advanced 2021 - FRS102_2021 538 538 xbrli:pure xbrli:shares iso4217:GBP 08099912 2021-06-28 2022-06-27 08099912 2022-06-27 08099912 2021-06-27 08099912 bus:RegisteredOffice 2021-06-28 2022-06-27 08099912 bus:LeadAgentIfApplicable 2021-06-28 2022-06-27 08099912 bus:Director1 2021-06-28 2022-06-27 08099912 core:AfterOneYear 2022-06-27 08099912 core:AfterOneYear 2021-06-27 08099912 core:WithinOneYear 2022-06-27 08099912 core:WithinOneYear 2021-06-27 08099912 core:ShareCapital 2022-06-27 08099912 core:ShareCapital 2021-06-27 08099912 core:RetainedEarningsAccumulatedLosses 2022-06-27 08099912 core:RetainedEarningsAccumulatedLosses 2021-06-27 08099912 bus:SmallEntities 2021-06-28 2022-06-27 08099912 bus:AuditExemptWithAccountantsReport 2021-06-28 2022-06-27 08099912 bus:FullAccounts 2021-06-28 2022-06-27 08099912 bus:SmallCompaniesRegimeForAccounts 2021-06-28 2022-06-27 08099912 bus:PrivateLimitedCompanyLtd 2021-06-28 2022-06-27 08099912 core:ComputerEquipment 2021-06-28 2022-06-27 08099912 core:ComputerEquipment 2022-06-27

COMPANY REGISTRATION NUMBER: 08099912

Polyurethane Technology Limited

Filleted Unaudited Financial Statements

27 June 2022

Polyurethane Technology Limited

Financial Statements

Year Ended 27 June 2022

Contents	Page

Officers and Professional Advisers	1

Statement of Financial Position	2

Notes to the Financial Statements	4

Polyurethane Technology Limited

Officers and Professional Advisers

Director	P J Hindson

Registered Office	The Warren Cottage Church Lane
	Gawsworth
	Macclesfield
	Cheshire
	SK11 9QY

Accountants	Downham Mayer Clarke Limited
	Chartered Accountants
	41 Greek Street
	Stockport
	Cheshire
	SK3 8AX

Polyurethane Technology Limited

Statement of Financial Position

27 June 2022

	2022		2021
Note	£	£	£

Current Assets

Debtors	5	3,336	20,000
Cash at bank and in hand		37,375	15,242
		--------	--------
		40,711	35,242

Creditors: amounts falling due within one year	6	17,733		16,363
		--------		--------
Net Current Assets			22,978	18,879
			--------	--------
Total Assets Less Current Liabilities			22,978	18,879

Creditors: amounts falling due after more than one year	7	11,897	14,734
		--------	--------
Net Assets		11,081	4,145
		--------	--------

Capital and Reserves

Called up share capital	100	100
Profit and loss account	10,981	4,045
	--------	-------
Shareholder Funds	11,081	4,145
	--------	-------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.

For the year ending 27 June 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

- The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;

- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

Polyurethane Technology Limited

Statement of Financial Position (continued)

27 June 2022

These financial statements were approved by the board of directors and authorised for issue on 24 February 2023 , and are signed on behalf of the board by:

P J Hindson
Director

Company registration number: 08099912

Polyurethane Technology Limited

Notes to the Financial Statements

Year Ended 27 June 2022

1. General Information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is The Warren Cottage Church Lane, Gawsworth, Macclesfield, Cheshire, SK11 9QY.

2. Statement of Compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting Policies

Basis of Preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Revenue Recognition

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Income Tax

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.

Tangible Assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

	Equipment	-	25% reducing balance

Impairment of Fixed Assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.

4. Tangible Assets

	Equipment	Total
	£	£
Cost
At 28 June 2021 and 27 June 2022	538	538
	----	----
Depreciation
At 28 June 2021 and 27 June 2022	538	538
	----	----
Carrying amount
At 27 June 2022	–	–
	----	----
At 27 June 2021	–	–
	----	----

5. Debtors

	2022	2021
	£	£
Other debtors	3,336	20,000
	-------	--------

6. Creditors: amounts falling due within one year

	2022	2021
	£	£
Corporation tax	5,925	4,515
Other creditors	11,808	11,848
	--------	--------
	17,733	16,363
	--------	--------

7. Creditors: amounts falling due after more than one year

	2022	2021
	£	£
Bank loans and overdrafts	11,897	14,734
	--------	--------

8. Director's Advances, Credits and Guarantees

There were no directors advances, credits or guarantees in the current or previous year.

9. Related Party Transactions

The company is controlled by P J Hindson by virtue of his controlling interest. Dividends paid to P J Hindson amounted to £8,000 (2021 - £23,000).