Company registration number SC328271 (Scotland)
POLAR FLAME MUSIC LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023
PAGES FOR FILING WITH REGISTRAR
POLAR FLAME MUSIC LIMITED
BALANCE SHEET
AS AT 31 JULY 2023
31 July 2023
- 1 -
2023
2022
£
£
£
£
Fixed assets
20,931
21,994
Current assets
53,720
68,431
Creditors: amounts falling due within one year
(54,120)
(59,589)
Net current (liabilities)/assets
(400)
8,842
Total assets less current liabilities
20,531
30,836
Creditors: amounts falling due after more than one year
(19,555)
(30,835)
Net assets
976
1
Capital and reserves
976
1
Notes to the financial statements
1
Director's benefits: advances, credit and guarantees
Included within current assets is an amount of £40,278 (2022 - £41,395) due from the directors of the company.
During the year the amounts advanced were £68,983, and the amounts repaid were £70,100. There are no fixed terms for repayment and interest is charged at 2.25%.
2
Employees
The average number of persons, including directors, employed by the company during the year was as follows:
2023
2022
Number
Number
Employees
1
1
Polar Flame Music Limited is a private company limited by shares incorporated in Scotland. The registered office is 138 Comiston Road, Edinburgh, EH10 5QN.
For the year ended 31 July 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
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.
POLAR FLAME MUSIC LIMITED
BALANCE SHEET (CONTINUED)
AS AT 31 JULY 2023
31 July 2023
- 2 -
These financial statements have been prepared in accordance with the micro-entity provisions and in accordance with FRS 105 'The Financial Reporting Standard applicable to the Micro-entities Regime' and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true
The financial statements were approved and signed by the director and authorised for issue on 26 March 2024
..............................................
Mr P Boyd
Company registration number SC328271 (Scotland)