Registered number
06236392
Polar Windows Ltd
Filleted Accounts
31 October 2023
Polar Windows Ltd
Registered number: 06236392
Balance Sheet
as at 31 October 2023
Notes 2023 2022
£ £
Fixed assets
Intangible assets 3 3,750 -
Tangible assets 4 53,490 61,561
57,240 61,561
Current assets
Stocks 29,762 47,041
Debtors 5 106,423 63,828
Cash at bank and in hand 123,217 161,734
259,402 272,603
Creditors: amounts falling due within one year 6 (247,910) (220,160)
Net current assets 11,492 52,443
Total assets less current liabilities 68,732 114,004
Creditors: amounts falling due after more than one year 7 (37,487) (56,162)
Net assets 31,245 57,842
Capital and reserves
Called up share capital 100 100
Profit and loss account 31,145 57,742
Shareholders' funds 31,245 57,842
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
R D F Crowe
Director
Approved by the board on 31 July 2024
Polar Windows Ltd
Notes to the Accounts
for the year ended 31 October 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Leasehold improvements 10% reducing balance
Fixtures, fittings, tools and equipment 20% reducing balance
Plant & Machinery 20% reducing balance
Vehicles 15% reducing balance
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 10 10
3 Intangible fixed assets £
Goodwill:
Cost
Additions 4,688
At 31 October 2023 4,688
Amortisation
Provided during the year 938
At 31 October 2023 938
Net book value
At 31 October 2023 3,750
Goodwill is being written off in equal annual instalments over its estimated economic life of 5 years.
4 Tangible fixed assets
Land and buildings Plant and machinery etc Motor vehicles Total
£ £ £ £
Cost
At 1 November 2022 43,818 25,669 9,190 78,677
Additions - 123 100 223
Disposals - - (450) (450)
At 31 October 2023 43,818 25,792 8,840 78,450
Depreciation
At 1 November 2022 10,960 4,777 1,379 17,116
Charge for the year 3,286 4,204 354 7,844
At 31 October 2023 14,246 8,981 1,733 24,960
Net book value
At 31 October 2023 29,572 16,811 7,107 53,490
At 31 October 2022 32,858 20,892 7,811 61,561
5 Debtors 2023 2022
£ £
Trade debtors 74,025 43,927
Other debtors 32,398 19,901
106,423 63,828
6 Creditors: amounts falling due within one year 2023 2022
£ £
Trade creditors 182,390 195,477
Taxation and social security costs 61,726 41,628
Other creditors 3,794 (16,945)
247,910 220,160
7 Creditors: amounts falling due after one year 2023 2022
£ £
Other creditors 37,487 56,162
8 Other information
Polar Windows Ltd is a private company limited by shares and incorporated in England. Its registered office is:
Polar Windows Ltd, Chesterfield Road
Duckmanton
Chesterfield
Derbyshire
S44 5HT
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