Caseware UK (AP4) 2023.0.135 2023.0.135 2023-10-312023-10-312022-11-01falseNo description of principal activity22falsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 11620529 2022-11-01 2023-10-31 11620529 2021-11-01 2022-10-31 11620529 2023-10-31 11620529 2022-10-31 11620529 c:Director1 2022-11-01 2023-10-31 11620529 d:PlantMachinery 2022-11-01 2023-10-31 11620529 d:PlantMachinery 2023-10-31 11620529 d:PlantMachinery 2022-10-31 11620529 d:PlantMachinery d:OwnedOrFreeholdAssets 2022-11-01 2023-10-31 11620529 d:FurnitureFittings 2022-11-01 2023-10-31 11620529 d:FurnitureFittings 2023-10-31 11620529 d:FurnitureFittings 2022-10-31 11620529 d:FurnitureFittings d:OwnedOrFreeholdAssets 2022-11-01 2023-10-31 11620529 d:ComputerEquipment 2022-11-01 2023-10-31 11620529 d:ComputerEquipment 2023-10-31 11620529 d:ComputerEquipment 2022-10-31 11620529 d:ComputerEquipment d:OwnedOrFreeholdAssets 2022-11-01 2023-10-31 11620529 d:OwnedOrFreeholdAssets 2022-11-01 2023-10-31 11620529 d:CurrentFinancialInstruments 2023-10-31 11620529 d:CurrentFinancialInstruments 2022-10-31 11620529 d:Non-currentFinancialInstruments 2023-10-31 11620529 d:Non-currentFinancialInstruments 2022-10-31 11620529 d:CurrentFinancialInstruments d:WithinOneYear 2023-10-31 11620529 d:CurrentFinancialInstruments d:WithinOneYear 2022-10-31 11620529 d:Non-currentFinancialInstruments d:AfterOneYear 2023-10-31 11620529 d:Non-currentFinancialInstruments d:AfterOneYear 2022-10-31 11620529 d:ShareCapital 2023-10-31 11620529 d:ShareCapital 2022-10-31 11620529 d:RetainedEarningsAccumulatedLosses 2023-10-31 11620529 d:RetainedEarningsAccumulatedLosses 2022-10-31 11620529 c:FRS102 2022-11-01 2023-10-31 11620529 c:AuditExempt-NoAccountantsReport 2022-11-01 2023-10-31 11620529 c:FullAccounts 2022-11-01 2023-10-31 11620529 c:PrivateLimitedCompanyLtd 2022-11-01 2023-10-31 11620529 d:WithinOneYear 2023-10-31 11620529 d:WithinOneYear 2022-10-31 11620529 d:BetweenOneFiveYears 2023-10-31 11620529 d:BetweenOneFiveYears 2022-10-31 iso4217:GBP xbrli:pure
Registered number: 11620529













THE POLAR BEAR LAB LTD
UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2023


 
THE POLAR BEAR LAB LTD
REGISTERED NUMBER:11620529


BALANCE SHEET
AS AT 31 OCTOBER 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
22,309
35,227

  
22,309
35,227

Current assets
  

Debtors: amounts falling due within one year
 5 
27,390
27,390

Cash at bank and in hand
  
18,155
10,652

  
45,545
38,042

Creditors: amounts falling due within one year
 6 
(148,766)
(156,607)

Net current liabilities
  
 
 
(103,221)
 
 
(118,565)

Total assets less current liabilities
  
(80,912)
(83,338)

Creditors: amounts falling due after more than one year
 7 
(20,000)
(20,000)

  

Net liabilities
  
(100,912)
(103,338)


Capital and reserves
  

Called up share capital 
  
1
1

Profit and loss account
  
(100,913)
(103,339)

  
(100,912)
(103,338)


Page 1


 
THE POLAR BEAR LAB LTD
REGISTERED NUMBER:11620529

    
BALANCE SHEET (CONTINUED)
AS AT 31 OCTOBER 2023

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




................................................
J G McShane
Director

Date: 30 October 2024

The notes on pages 3 to 8 form part of these financial statements.

Page 2


 
THE POLAR BEAR LAB LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023

1.


General information

The Polar Bear Lab Ltd is a limited liability company incorporated in England. The registered office is Harwood House, 43 Harwood Road, London, SW6 4QP. Its trading adress is Arch 299, Jewell Street, London, SE5 0BU.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Going concern

During the year ended 31 October 2023 the company made a profit which decreased the balance sheet deficit to £100,912 at the year end. At the balance sheet date there was a liability of £105,316 owing to the directors of the company (see note 9) who have confirmed that they will not withdraw funds whilts the company strengthens its financial position.
In light of the above and after taking into account all information that could reasonably be expected to be available, the directors are confident that the company will continue in operational existence for the foreseeable future and that the going concern basis is therefore appropriate for the preparation of the company's accounts.

 
2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

Page 3


 
THE POLAR BEAR LAB LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023

2.Accounting policies (continued)

 
2.4

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

 
2.5

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
2.6

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

 
2.7

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Page 4


 
THE POLAR BEAR LAB LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023

2.Accounting policies (continued)


2.7
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Gym equipment
-
20%
Fixtures and fittings
-
20%
Computer equipment
-
20%

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.8

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.9

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.10

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.11

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.


3.


Employees

The average monthly number of employees, including directors, during the year was 2 (2022 - 2).

Page 5


 
THE POLAR BEAR LAB LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023

4.


Tangible fixed assets





Gym equipment
Fixtures and fittings
Computer equipment
Total

£
£
£
£



Cost or valuation


At 1 November 2022
58,801
4,383
4,204
67,388


Additions
650
-
-
650



At 31 October 2023

59,451
4,383
4,204
68,038



Depreciation


At 1 November 2022
27,994
2,243
1,924
32,161


Charge for the year on owned assets
11,850
877
841
13,568



At 31 October 2023

39,844
3,120
2,765
45,729



Net book value



At 31 October 2023
19,607
1,263
1,439
22,309



At 31 October 2022
30,807
2,140
2,280
35,227

Page 6


 
THE POLAR BEAR LAB LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023

5.


Debtors

2023
2022
£
£


Other debtors
27,185
27,185

Prepayments and accrued income
205
205

27,390
27,390



6.


Creditors: amounts falling due within one year

2023
2022
£
£

Trade creditors
-
2,280

Other taxation and social security
1,551
2,701

Other creditors
112,113
105,880

Accruals and deferred income
35,102
45,746

148,766
156,607



7.


Creditors: amounts falling due after more than one year

2023
2022
£
£

Other loans
20,000
20,000



8.


Commitments under operating leases

At 31 October 2023 the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:

2023
2022
£
£


Not later than 1 year
54,370
54,370

Later than 1 year and not later than 5 years
67,962
122,332

122,332
176,702

Page 7


 
THE POLAR BEAR LAB LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023

9.


Related party transactions

Material balances with related parties arising during the year were as follows:


2023
2022
£
£

J G McShane
24,023
20,481
K E Bond
81,293
75,581
105,316
96,062

J G McShane and K E Bond are both directors of The Polar Bear Lab Ltd.

 
Page 8