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REGISTERED NUMBER: 11032696 (England and Wales)











Unaudited Financial Statements

for the Year Ended 31 October 2023

for

Polaris Controls Ltd

Polaris Controls Ltd (Registered number: 11032696)

Contents of the Financial Statements
for the Year Ended 31 October 2023










Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


Polaris Controls Ltd

Company Information
for the Year Ended 31 October 2023







DIRECTORS: J P Laurent-Rathuille
Ms M R Scott





REGISTERED OFFICE: 1 Minster Court
Tuscam Way
Camberley
Surrey
GU15 3YY





REGISTERED NUMBER: 11032696 (England and Wales)





ACCOUNTANTS: Butt Miller
Chartered Accountants
1 Minster Court
Tuscam Way
Camberley
Surrey
GU15 3YY

Polaris Controls Ltd (Registered number: 11032696)

Statement of Financial Position
31 October 2023

2023 2022
Notes £    £   
FIXED ASSETS
Tangible assets 4 5,642 4,708

CURRENT ASSETS
Stocks 5 6,404 6,404
Debtors 6 239,545 177,070
Cash at bank 58,698 36,704
304,647 220,178
CREDITORS
Amounts falling due within one year 7 (155,436 ) (183,701 )
NET CURRENT ASSETS 149,211 36,477
TOTAL ASSETS LESS CURRENT
LIABILITIES

154,853

41,185

CREDITORS
Amounts falling due after more than one
year

8

(35,601

)

(42,548

)

PROVISIONS FOR LIABILITIES (717 ) (895 )
NET ASSETS/(LIABILITIES) 118,535 (2,258 )

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 118,435 (2,358 )
118,535 (2,258 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2023 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.

Polaris Controls Ltd (Registered number: 11032696)

Statement of Financial Position - continued
31 October 2023


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 29 July 2024 and were signed on its behalf by:





Ms M R Scott - Director


Polaris Controls Ltd (Registered number: 11032696)

Notes to the Financial Statements
for the Year Ended 31 October 2023


1. STATUTORY INFORMATION

Polaris Controls 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.

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

Revenue on goods is recognised at the point of sale which is usually determined by the date of customer order.

Revenue on services provided under contracts is included to the extent that there is a right to consideration and is recorded at the value of the consideration due. Where a contract has only been partially completed at the statement of financial position date turnover represents the value of the service provided to date based on a proportion of the total expected consideration at completion.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 33.33% on cost
Fixtures and fittings - at varying rates on cost
Computer equipment - 33.33% on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year 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.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Polaris Controls Ltd (Registered number: 11032696)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2023


2. ACCOUNTING POLICIES - continued

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the statement of financial position date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Operating leases
Rentals paid under operating leases are charged to the Income Statement on a straight line basis over the period of the lease.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 2 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Computer
machinery fittings equipment Totals
£    £    £    £   
COST
At 1 November 2022 1,500 1,030 13,736 16,266
Additions 3,610 - 1,273 4,883
At 31 October 2023 5,110 1,030 15,009 21,149
DEPRECIATION
At 1 November 2022 582 582 10,394 11,558
Charge for year 1,578 277 2,094 3,949
At 31 October 2023 2,160 859 12,488 15,507
NET BOOK VALUE
At 31 October 2023 2,950 171 2,521 5,642
At 31 October 2022 918 448 3,342 4,708

5. STOCKS
2023 2022
£    £   
Stocks 6,404 6,404

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 161,499 139,147
Directors' current accounts 77,216 37,402
Prepayments and accrued income 830 521
239,545 177,070

Polaris Controls Ltd (Registered number: 11032696)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2023


7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loan 6,946 6,946
Trade creditors 92,459 146,822
Tax 46,675 21,882
VAT 6,212 5,758
Other creditors 500 -
Accrued expenses 2,644 2,293
155,436 183,701

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loan - 1-2 years 6,946 6,946
Bank loan - 2-5 years 20,839 20,839
Bank loan more than 5 years 7,816 14,763
35,601 42,548

Amounts falling due in more than five years:

Repayable by instalments
Bank loan more than 5 years 7,816 14,763

9. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 October 2023 and 31 October 2022:

2023 2022
£    £   
J P Laurent-Rathuille
Balance outstanding at start of year 20,566 (18,938 )
Amounts advanced 46,343 49,746
Amounts repaid (31,159 ) (10,242 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 35,750 20,566

Ms M R Scott
Balance outstanding at start of year 16,836 (14,222 )
Amounts advanced 139,570 46,145
Amounts repaid (114,940 ) (15,087 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 41,466 16,836

Loans from the company in excess of £10,000 are subject to interest at HMRC's approved rate. Loans to the company are interest free. All loans are unsecured and repayable on demand.