Caseware UK (AP4) 2021.0.152 2021.0.152 2022-03-312022-03-31No description of principal activity2truetrue2021-04-01false2The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 07234695 2021-04-01 2022-03-31 07234695 2020-04-01 2021-03-31 07234695 2022-03-31 07234695 2021-03-31 07234695 c:Director1 2021-04-01 2022-03-31 07234695 d:PatentsTrademarksLicencesConcessionsSimilar 2022-03-31 07234695 d:PatentsTrademarksLicencesConcessionsSimilar 2021-03-31 07234695 d:CurrentFinancialInstruments 2022-03-31 07234695 d:CurrentFinancialInstruments 2021-03-31 07234695 d:CurrentFinancialInstruments d:WithinOneYear 2022-03-31 07234695 d:CurrentFinancialInstruments d:WithinOneYear 2021-03-31 07234695 d:ShareCapital 2022-03-31 07234695 d:ShareCapital 2021-03-31 07234695 d:RetainedEarningsAccumulatedLosses 2022-03-31 07234695 d:RetainedEarningsAccumulatedLosses 2021-03-31 07234695 c:OrdinaryShareClass1 2021-04-01 2022-03-31 07234695 c:OrdinaryShareClass1 2022-03-31 07234695 c:OrdinaryShareClass1 2021-03-31 07234695 c:EntityNoLongerTradingButTradedInPast 2021-04-01 2022-03-31 07234695 c:FRS102 2021-04-01 2022-03-31 07234695 c:AuditExempt-NoAccountantsReport 2021-04-01 2022-03-31 07234695 c:FullAccounts 2021-04-01 2022-03-31 07234695 c:PrivateLimitedCompanyLtd 2021-04-01 2022-03-31 07234695 2 2021-04-01 2022-03-31 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 07234695









POLECROSS LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MARCH 2022

 
POLECROSS LIMITED
REGISTERED NUMBER: 07234695

BALANCE SHEET
AS AT 31 MARCH 2022

2022
2021
Note
£
£

  

Current assets
  

Debtors: amounts falling due within one year
 5 
-
1,512

Cash at bank and in hand
  
3,407
2,664

  
3,407
4,176

Creditors: amounts falling due within one year
 6 
(3,774)
(4,049)

Net current (liabilities)/assets
  
 
 
(367)
 
 
127

Total assets less current liabilities
  
(367)
127

  

Net (liabilities)/assets
  
(367)
127


Capital and reserves
  

Called up share capital 
 7 
2
2

Profit and loss account
  
(369)
125

  
(367)
127


Page 1

 
POLECROSS LIMITED
REGISTERED NUMBER: 07234695
    
BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2022

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 9 September 2022.




C K A Lam
Director

The notes on pages 3 to 6 form part of these financial statements.

Page 2

 
POLECROSS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2022

1.


General information

The Company is a private company, limited by shares, incorporated and domiciled in England within the United Kingdom, registration number 07234695.  The Company's registered office is Sterling House, 71 Francis Road, Edgbaston, Birmingham, B16 8SP.
The financial statements are presented in sterling which is the functional currency of the company and the financial statements are rounded to the nearest £1.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

Cash flow
Under Financial Reporting Standard 102, the company is exempt from the requirement to prepare a cash flow statement on the grounds that it qualifies as a small company..

The following principal accounting policies have been applied:

 
2.2

Going concern

The directors have prepared the accounts on a going concern basis.

 
2.3

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.4

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Page 3

 
POLECROSS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2022

2.Accounting policies (continued)

 
2.5

Intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

At each reporting date the company assesses whether there is any indication of impairment. If such indication exists, the recoverable amount of the asset is determined which is the higher of its fair value less costs to sell and its value in use. An impairment loss is recognised where the carrying amount exceeds the recoverable amount.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

 
2.6

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.7

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.8

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.9

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at present value of the future cash flows and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received. However, if the arrangements of a short-term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or in case of an out-right short-term loan that is not at market rate, the financial asset or liability is measured, initially at the present value of future cash flows discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost, unless it qualifies as a loan from a director in the case of a small company, or a public benefit entity concessionary loan.

Page 4

 
POLECROSS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2022

3.


Employees

The average monthly number of employees, including directors, during the year was 2 (2021 - 2).


4.


Intangible assets




Patents

£



Cost


At 1 April 2021
8,681



At 31 March 2022

8,681



Amortisation


At 1 April 2021
8,681



At 31 March 2022

8,681



Net book value



At 31 March 2022
-



At 31 March 2021
-



Page 5

 
POLECROSS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2022

5.


Debtors

2022
2021
£
£


Other debtors
-
1,512

-
1,512



6.


Creditors: Amounts falling due within one year

2022
2021
£
£

Other creditors
3,179
3,179

Accruals and deferred income
595
870

3,774
4,049



7.


Share capital

2022
2021
£
£
Allotted, called up and fully paid



2 (2021 - 2) Ordinary shares of £1.00 each
2
2



8.


Related party transactions

The total amount outstanding and due to the director at 31 March 2022 was £3,179 (2021 - £3,179). The loan is interest free and repayable on demand.

 
Page 6