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REGISTERED NUMBER: 13169464 (England and Wales)















Polar Transport Ltd

Unaudited Financial Statements

for the Period 1 February 2021 to 28 February 2022






Polar Transport Ltd (Registered number: 13169464)






Contents of the Financial Statements
for the Period 1 February 2021 to 28 February 2022




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


Polar Transport Ltd

Company Information
for the Period 1 February 2021 to 28 February 2022







DIRECTORS: A E Moore
I R Ross





REGISTERED OFFICE: 71-75 Shelton Street
London
Greater London
United Kingdom
WC2H 9JQ





BUSINESS ADDRESS: 48 Brabourne Avenue
Gillingham
Kent
ME8 6RB





REGISTERED NUMBER: 13169464 (England and Wales)





ACCOUNTANTS: Aggarwal & Co Limited
Chartered Accountants
5 London Road
Rainham
Gillingham
Kent
ME8 7RG

Polar Transport Ltd (Registered number: 13169464)

Statement of Financial Position
28 February 2022

Notes £    £   
FIXED ASSETS
Tangible assets 4 236

CURRENT ASSETS
Debtors 5 27,374
Cash at bank 17,968
45,342
CREDITORS
Amounts falling due within one year 6 45,435
NET CURRENT LIABILITIES (93 )
TOTAL ASSETS LESS CURRENT LIABILITIES 143

CAPITAL AND RESERVES
Called up share capital 100
Retained earnings 43
143

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 28 February 2022.

The members have not required the company to obtain an audit of its financial statements for the period ended 28 February 2022 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.

Polar Transport Ltd (Registered number: 13169464)

Statement of Financial Position - continued
28 February 2022


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 7 July 2022 and were signed on its behalf by:




I R Ross - Director



A E Moore - Director


Polar Transport Ltd (Registered number: 13169464)

Notes to the Financial Statements
for the Period 1 February 2021 to 28 February 2022

1. STATUTORY INFORMATION

Polar Transport Ltd 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

Income recognition
Income represents the fair value of consideration received or receivable derived from the provision of goods and services to customers during the year (excluding value added tax) and is recognised when the company becomes entitled to it, usually on the rendering of an invoice.

Income is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.

Financial instruments
The Company enters into basic financial instruments that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third parties and loans to related parties.

Taxation
Taxation for the period 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 statement of financial position date.

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.

Going concern
The financial statements have been prepared on a going concern basis. While the impact of the COVID-19 virus has been assessed by the directors, so far as reasonably possible, due to its unprecedented impact on the wider economy, it is difficult to evaluate with any certainty the potential outcomes on the company's trade, its customers and suppliers. However, taking into consideration the UK Government's response/financial support and the company's planning, the directors have a reasonable expectation that the company will continue in operational existence for the foreseeable future.

Polar Transport Ltd (Registered number: 13169464)

Notes to the Financial Statements - continued
for the Period 1 February 2021 to 28 February 2022

3. EMPLOYEES AND DIRECTORS

The average number of employees during the period was 2 .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
Additions 258
At 28 February 2022 258
DEPRECIATION
Charge for period 22
At 28 February 2022 22
NET BOOK VALUE
At 28 February 2022 236

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
£   
Trade debtors 24,674
Other debtors 2,700
27,374

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
£   
Taxation and social security 12,479
Other creditors 32,956
45,435

7. LEASING AGREEMENTS

The company has lease agreements of £100,273