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REGISTERED NUMBER: 12429964 (England and Wales)















Unaudited Financial Statements

for the Year Ended 31 December 2022

for

Polience Limited

Polience Limited (Registered number: 12429964)






Contents of the Financial Statements
FOR THE YEAR ENDED 31 DECEMBER 2022




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Polience Limited

Company Information
FOR THE YEAR ENDED 31 DECEMBER 2022







DIRECTORS: J G King
S J Waldron
C Hughes





REGISTERED OFFICE: The Stable Yard
Vicarage Road
Stony Stratford
Milton Keynes
Buckinghamshire
MK11 1BN





REGISTERED NUMBER: 12429964 (England and Wales)





ACCOUNTANTS: Connolly Accountants & Business Advisors Ltd
Chartered Certified Accountants
The Stable Yard
Vicarage Road
Stony Stratford
Milton Keynes
Buckinghamshire
MK11 1BN

Polience Limited (Registered number: 12429964)

Balance Sheet
31 DECEMBER 2022

2022 2021
as restated
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 596,658 396,381
Tangible assets 5 9,170 17,967
605,828 414,348

CURRENT ASSETS
Debtors 6 35,498 118,155
Cash at bank 10,551 129,089
46,049 247,244
CREDITORS
Amounts falling due within one year 7 29,043 54,874
NET CURRENT ASSETS 17,006 192,370
TOTAL ASSETS LESS CURRENT
LIABILITIES

622,834

606,718

CREDITORS
Amounts falling due after more than one year
(including convertible debt)

8

156,773

-
NET ASSETS 466,061 606,718

CAPITAL AND RESERVES
Called up share capital 132 131
Share premium 999,970 999,970
Retained earnings (534,041 ) (393,383 )
466,061 606,718

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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.

Polience Limited (Registered number: 12429964)

Balance Sheet - continued
31 DECEMBER 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 8 December 2023 and were signed on its behalf by:





J G King - Director


Polience Limited (Registered number: 12429964)

Notes to the Financial Statements
FOR THE YEAR ENDED 31 DECEMBER 2022

1. STATUTORY INFORMATION

Polience Limited 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.

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.

Going concern
These accounts have been prepared on the going concern basis. The company has net liabilities on the balance sheet and is reliant upon the continued support of third party investment.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

The product is currently in development and therefore not yet being amortised due to not being in use.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Computer equipment - 3 years

Polience Limited (Registered number: 12429964)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 31 DECEMBER 2022

2. ACCOUNTING POLICIES - continued

Financial instruments
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provision of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic Financial Assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised costs using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is a contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities
Basic financial liabilities, including creditors and loans from related companies are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised costs, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 balance sheet date.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2021 - 3 ) .

Polience Limited (Registered number: 12429964)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 31 DECEMBER 2022

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1 January 2022 396,381
Additions 200,277
At 31 December 2022 596,658
NET BOOK VALUE
At 31 December 2022 596,658
At 31 December 2021 396,381

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 January 2022
and 31 December 2022 26,655
DEPRECIATION
At 1 January 2022 8,688
Charge for year 8,797
At 31 December 2022 17,485
NET BOOK VALUE
At 31 December 2022 9,170
At 31 December 2021 17,967

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
as restated
£    £   
Trade debtors - 8,520
Other debtors 35,498 109,635
35,498 118,155

Polience Limited (Registered number: 12429964)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 31 DECEMBER 2022

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
as restated
£    £   
Trade creditors 25,336 43,912
Taxation and social security 971 9,987
Other creditors 2,736 975
29,043 54,874

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2022 2021
as restated
£    £   
Bank loans 156,773 -

There are convertible loan notes due to mature after more than one year. These loan notes will convert into shares at the maturity date

9. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the year ended 31 December 2022 and the period ended 31 December 2021:

2022 2021
as restated
£    £   
**UNKNOWN DIRECTOR 1**
Balance outstanding at start of year 9,808 (24,718 )
Amounts advanced 75,935 36,622
Amounts repaid (75,407 ) (2,096 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 10,336 9,808

This loan is interest free and repayable on demand.