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Company Registration No. 03456845 (England and Wales)
Polestar Interactive Limited Unaudited accounts for the period from 1 March 2022 to 31 December 2022
Polestar Interactive Limited Unaudited accounts Contents
Page
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Polestar Interactive Limited Company Information for the period from 1 March 2022 to 31 December 2022
Director
J M Smith
Secretary
Dr J Read
Company Number
03456845 (England and Wales)
Registered Office
The Sir Colin Campbell Building University of Nottingham Innovation Park Triumph Road Nottingham NG7 2TU United Kingdom
Accountants
Lilley & Co (UK) Limited Suite 8 57 High Street Ibstock Leicestershire LE67 6LH
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Polestar Interactive Limited Accountants' report
Accountants' report to the director of Polestar Interactive Limited on the preparation of the unaudited statutory accounts for the period from 1 March 2022 to 31 December 2022
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Polestar Interactive Limited for the period from 1 March 2022 to 31 December 2022 as set out on pages 5 - 8 from the company's accounting records and from information and explanations you have given us.
This report is made solely to the Board of Directors of Polestar Interactive Limited, as a body, in accordance with the terms of our engagement. Our work has been undertaken solely to prepare for your approval the accounts of Polestar Interactive Limited and state those matters that we have agreed to state to them, as a body, in this report. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Polestar Interactive Limited and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that Polestar Interactive Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and loss of Polestar Interactive Limited. You consider that Polestar Interactive Limited is exempt from the statutory audit requirement for the period.
We have not been instructed to carry out an audit or a review of the accounts of Polestar Interactive Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.
Lilley & Co (UK) Limited Suite 8 57 High Street Ibstock Leicestershire LE67 6LH 23 October 2023
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Polestar Interactive Limited Statement of financial position as at 31 December 2022
31/12/2022 
28/02/2022 
Notes
£ 
£ 
Fixed assets
Tangible assets
6,163 
3,371 
Current assets
Debtors
169,077 
189,726 
Cash at bank and in hand
88,872 
127,307 
257,949 
317,033 
Creditors: amounts falling due within one year
(213,569)
(234,321)
Net current assets
44,380 
82,712 
Total assets less current liabilities
50,543 
86,083 
Creditors: amounts falling due after more than one year
(248,518)
(120,438)
Net liabilities
(197,975)
(34,355)
Capital and reserves
Called up share capital
125 
125 
Profit and loss account
(198,100)
(34,480)
Shareholders' funds
(197,975)
(34,355)
For the period ending 31 December 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered 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 profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 25 October 2023 and were signed on its behalf by
J M Smith Director Company Registration No. 03456845
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Polestar Interactive Limited Notes to the Accounts for the period from 1 March 2022 to 31 December 2022
1
Statutory information
Polestar Interactive Limited is a private company, limited by shares, registered in England and Wales, registration number 03456845. The registered office is The Sir Colin Campbell Building, University of Nottingham Innovation Park, Triumph Road, Nottingham, NG7 2TU, United Kingdom.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous period, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover represents the net invoiced sales of goods and services, excluding value added tax, except in respect of service contracts where turnover is recognised when the company obtains the right to consideration.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Fixtures & fittings
20% straight line
Computer equipment
33% straight line
Foreign exchange
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rates of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
Pension costs
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
Going concern
These accounts have been prepared on a going concern basis. The directors are confident that the company will be able to continue meeting its day to day financial obligations as they arise.
Government grants
Government grants in relation to tangible fixed assets are credited to profit and loss account over the useful lives of the related assets, whereas those in relation to expenditure are credited when the expenditure is charged to profit and loss.
Research and development
Expenditure on research and development is written off in the year in which it is incurred.
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Polestar Interactive Limited Notes to the Accounts for the period from 1 March 2022 to 31 December 2022
4
Tangible fixed assets
Fixtures & fittings 
Computer equipment 
Total 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At 1 March 2022
9,689 
73,801 
83,490 
Additions
- 
5,871 
5,871 
Disposals
(1,500)
- 
(1,500)
At 31 December 2022
8,189 
79,672 
87,861 
Depreciation
At 1 March 2022
9,457 
70,662 
80,119 
Charge for the period
74 
3,005 
3,079 
On disposals
(1,500)
- 
(1,500)
At 31 December 2022
8,031 
73,667 
81,698 
Net book value
At 31 December 2022
158 
6,005 
6,163 
At 28 February 2022
232 
3,139 
3,371 
5
Debtors
31/12/2022 
28/02/2022 
£ 
£ 
Amounts falling due within one year
Trade debtors
42,667 
18,657 
Accrued income and prepayments
5,854 
13,066 
Other debtors
100,041 
119,113 
148,562 
150,836 
Amounts falling due after more than one year
Other debtors
20,515 
38,890 
6
Creditors: amounts falling due within one year
31/12/2022 
28/02/2022 
£ 
£ 
Bank loans and overdrafts
33,334 
22,000 
Trade creditors
35,660 
17,641 
Taxes and social security
12,426 
16,307 
Other creditors
991 
10,879 
Loans from directors
572 
312 
Accruals
4,348 
6,427 
Deferred income
126,238 
160,755 
213,569 
234,321 
7
Creditors: amounts falling due after more than one year
31/12/2022 
28/02/2022 
£ 
£ 
Bank loans
216,666 
73,333 
Deferred income
31,852 
47,105 
248,518 
120,438 
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Polestar Interactive Limited Notes to the Accounts for the period from 1 March 2022 to 31 December 2022
8
Share capital
31/12/2022 
28/02/2022 
£ 
£ 
Allotted, called up and fully paid:
100 Ordinary shares of £1 each
100 
100 
25 Ordinary B shares of £1 each
25 
25 
125 
125 
9
Operating lease commitments
31/12/2022 
28/02/2022 
£ 
£ 
At 31 December 2022 the company had the following future minimum lease payments under non-cancellable operating leases for each of the following periods:
Not later than one year
1,466 
1,866 
10
Loans to directors
Brought Forward 
Advance/ credit 
Repaid 
Carried Forward 
£ 
£ 
£ 
£ 
J M Smith
Loan to director
(312)
- 
260 
(572)
(312)
- 
260 
(572)
Amounts due to the director of £312 are included in other creditors due in less than one year (2021: £914 due from the director included in other debtors due in less than one year).
11
Average number of employees
During the period the average number of employees was 6 (28/02/2022: 6).
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