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REGISTERED NUMBER: 07671142 (England and Wales)















Unaudited Financial Statements

for the Year Ended 31st October 2023

for

Polaris (Logistics & Distribution)
Services Ltd

Polaris (Logistics & Distribution)
Services Ltd (Registered number: 07671142)






Contents of the Financial Statements
for the year ended 31st October 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Polaris (Logistics & Distribution)
Services Ltd

Company Information
for the year ended 31st October 2023







DIRECTORS: P S Gajda
P Marland





REGISTERED OFFICE: Unit C, Barton Hall Ind Estate
Hardy Street
Eccles
Manchester
M30 7NB





REGISTERED NUMBER: 07671142 (England and Wales)





ACCOUNTANTS: Robin Oatridge & Co Limited
Chartered Certified Accountants
Black Bull House
353-355 Station Road
Bamber Bridge
Preston
Lancashire
PR5 6EE

Polaris (Logistics & Distribution)
Services Ltd (Registered number: 07671142)

Balance Sheet
31st October 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 634,412 601,262

CURRENT ASSETS
Stocks 20,989 20,080
Debtors 5 324,777 453,449
Cash at bank 27,710 7,972
373,476 481,501
CREDITORS
Amounts falling due within one year 6 303,512 333,100
NET CURRENT ASSETS 69,964 148,401
TOTAL ASSETS LESS CURRENT
LIABILITIES

704,376

749,663

CREDITORS
Amounts falling due after more than one
year

7

(345,135

)

(369,841

)

PROVISIONS FOR LIABILITIES (45,986 ) (54,313 )
NET ASSETS 313,255 325,509

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings 313,254 325,508
313,255 325,509

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31st 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 (Logistics & Distribution)
Services Ltd (Registered number: 07671142)

Balance Sheet - continued
31st 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 31st July 2024 and were signed on its behalf by:





P Marland - Director


Polaris (Logistics & Distribution)
Services Ltd (Registered number: 07671142)

Notes to the Financial Statements
for the year ended 31st October 2023

1. STATUTORY INFORMATION

Polaris (Logistics & Distribution) Services 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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 20% on cost
Motor vehicles - 25% on reducing balance
Computer equipment - 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 balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Polaris (Logistics & Distribution)
Services Ltd (Registered number: 07671142)

Notes to the Financial Statements - continued
for the year ended 31st October 2023

2. ACCOUNTING POLICIES - continued

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2022 - 6 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
and Motor Computer
fittings vehicles equipment Totals
£    £    £    £   
COST
At 1st November 2022 10,493 722,802 5,314 738,609
Additions - 251,010 775 251,785
Disposals - (79,225 ) - (79,225 )
At 31st October 2023 10,493 894,587 6,089 911,169
DEPRECIATION
At 1st November 2022 6,413 128,169 2,765 137,347
Charge for year 2,099 197,235 1,065 200,399
Eliminated on disposal - (60,989 ) - (60,989 )
At 31st October 2023 8,512 264,415 3,830 276,757
NET BOOK VALUE
At 31st October 2023 1,981 630,172 2,259 634,412
At 31st October 2022 4,080 594,633 2,549 601,262

Included within the net book value is £596,979 (2022: £526,902) relating to assets held under hire purchase
agreements.

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 201,103 309,526
Amounts owed by participating interests - 6,000
Other debtors 123,674 137,923
324,777 453,449

Polaris (Logistics & Distribution)
Services Ltd (Registered number: 07671142)

Notes to the Financial Statements - continued
for the year ended 31st October 2023

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Hire purchase contracts 193,598 118,295
Trade creditors 51,373 91,008
Amounts owed to participating interests 5,480 -
Taxation and social security 37,880 1,832
Other creditors 15,181 121,965
303,512 333,100

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Hire purchase contracts 345,135 369,841

8. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Hire purchase contracts 538,733 488,136
Factoring creditor 6,299 113,529
545,032 601,665

Hire purchase agreements are secured against specific fixed assets.

Factoring creditors are secured against trade debtors.

9. RELATED PARTY DISCLOSURES

At the balance sheet date, there is a loan outstanding to a company under common control of £5,480 (2022: £6,000 debtor). There is no fixed repayment date on the loan. During the year, Polaris (Logistics & Distribution) Services Limited has received management charges from the same company under common control totalling £20,500 (2022: £62,000).

10. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is the directors.