Company Registration No. 05329341 (England and Wales)
POLYBLANK DESIGNS LIMITED
UNAUDITED ABBREVIATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2015
POLYBLANK DESIGNS LIMITED
CONTENTS
Page
Abbreviated balance sheet
1
Notes to the abbreviated accounts
2 - 3
POLYBLANK DESIGNS LIMITED
ABBREVIATED BALANCE SHEET
AS AT
31 DECEMBER 2015
31 December 2015
- 1 -
2015
2014
Notes
£
£
£
£
Fixed assets
Intangible assets
2
15,248
7,429
Tangible assets
2
2,765
3,687
18,013
11,116
Current assets
Debtors
7,763
26,924
Cash at bank and in hand
3,856
147
11,619
27,071
Creditors: amounts falling due within one year
(14,063)
(25,869)
Net current liabilities/(assets)
(2,444)
1,202
Total assets less current liabilities
15,569
12,318
Capital and reserves
Called up share capital
3
100
100
Profit and loss account
15,469
12,218
Shareholders' funds
15,569
12,318
For the financial year ended 31 December 2015 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
-
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
-
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.
Approved by the Board for issue on 28 July 2016
Mrs V Polyblank
Director
Company Registration No. 05329341
POLYBLANK DESIGNS LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 DECEMBER 2015
- 2 -
1
Accounting policies
1.1
Accounting convention
The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).
1.2
Compliance with accounting standards
The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied consistently (except as otherwise stated).
1.3
Turnover
Turnover represents amounts receivable for goods and services net of VAT and trade discounts.
1.4
Patents and Trademark
Trademark are valued at cost less accumulated amortization. Amortization is calculated to write off the cost in equal annual installments over 10 years on a straight-line basis of its effective lives.
1.5
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:
Fixtures, fittings & equipment
25% Reducing balance
1.6
Foreign currency translation
Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. All differences are taken to profit and loss account.
2
Fixed assets
Intangible assets
Tangible assets
Total
£
£
£
Cost
At 1 January 2015
11,144
8,426
19,570
Additions
9,926
-
9,926
At 31 December 2015
21,070
8,426
29,496
Depreciation
At 1 January 2015
3,715
4,739
8,454
Charge for the year
2,107
922
3,029
At 31 December 2015
5,822
5,661
11,483
Net book value
At 31 December 2015
15,248
2,765
18,013
At 31 December 2014
7,429
3,687
11,116
POLYBLANK DESIGNS LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2015
- 3 -
3
Share capital
2015
2014
£
£
Allotted, called up and fully paid
100 Ordinary shares of £1 each
100
100