IRIS Accounts Production v24.3.0.553 06356310 Board of Directors 1.9.23 31.8.24 31.8.24 false true false false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh063563102023-08-31063563102024-08-31063563102023-09-012024-08-31063563102022-08-31063563102022-09-012023-08-31063563102023-08-3106356310ns15:EnglandWales2023-09-012024-08-3106356310ns14:PoundSterling2023-09-012024-08-3106356310ns10:Director12023-09-012024-08-3106356310ns10:PrivateLimitedCompanyLtd2023-09-012024-08-3106356310ns10:SmallEntities2023-09-012024-08-3106356310ns10:AuditExemptWithAccountantsReport2023-09-012024-08-3106356310ns10:SmallCompaniesRegimeForDirectorsReport2023-09-012024-08-3106356310ns10:SmallCompaniesRegimeForAccounts2023-09-012024-08-3106356310ns10:FullAccounts2023-09-012024-08-310635631012023-09-012024-08-3106356310ns10:Director22023-09-012024-08-3106356310ns10:Director32023-09-012024-08-3106356310ns10:Director42023-09-012024-08-3106356310ns10:Director52023-09-012024-08-3106356310ns10:RegisteredOffice2023-09-012024-08-3106356310ns5:CurrentFinancialInstruments2024-08-3106356310ns5:CurrentFinancialInstruments2023-08-3106356310ns5:Non-currentFinancialInstruments2024-08-3106356310ns5:Non-currentFinancialInstruments2023-08-3106356310ns5:ShareCapital2024-08-3106356310ns5:ShareCapital2023-08-3106356310ns5:SharePremium2024-08-3106356310ns5:SharePremium2023-08-3106356310ns5:FurtherSpecificReserve1ComponentTotalEquity2024-08-3106356310ns5:FurtherSpecificReserve1ComponentTotalEquity2023-08-3106356310ns5:RetainedEarningsAccumulatedLosses2024-08-3106356310ns5:RetainedEarningsAccumulatedLosses2023-08-3106356310ns5:IntangibleAssetsOtherThanGoodwill2023-09-012024-08-3106356310ns5:PatentsTrademarksLicencesConcessionsSimilar2023-08-3106356310ns5:DevelopmentCostsCapitalisedDevelopmentExpenditure2023-08-3106356310ns5:PatentsTrademarksLicencesConcessionsSimilar2023-09-012024-08-3106356310ns5:DevelopmentCostsCapitalisedDevelopmentExpenditure2023-09-012024-08-3106356310ns5:PatentsTrademarksLicencesConcessionsSimilar2024-08-3106356310ns5:DevelopmentCostsCapitalisedDevelopmentExpenditure2024-08-3106356310ns5:PatentsTrademarksLicencesConcessionsSimilar2023-08-3106356310ns5:DevelopmentCostsCapitalisedDevelopmentExpenditure2023-08-3106356310ns5:ComputerEquipment2023-08-3106356310ns5:ComputerEquipment2023-09-012024-08-3106356310ns5:ComputerEquipment2024-08-3106356310ns5:ComputerEquipment2023-08-3106356310ns5:WithinOneYearns5:CurrentFinancialInstruments2024-08-3106356310ns5:WithinOneYearns5:CurrentFinancialInstruments2023-08-3106356310ns5:BetweenOneTwoYearsns5:Non-currentFinancialInstruments2024-08-3106356310ns5:BetweenOneTwoYearsns5:Non-currentFinancialInstruments2023-08-31
REGISTERED NUMBER: 06356310 (England and Wales)














Solar Polar Limited

Unaudited Financial Statements

for the Year Ended 31 August 2024






Solar Polar Limited (Registered number: 06356310)

Contents of the Financial Statements
for the Year Ended 31 August 2024










Page

Company information 1

Chartered accountants' report 2

Statement of financial position 3 to 4

Notes to the financial statements 5 to 7


Solar Polar Limited

Company Information
for the Year Ended 31 August 2024







Directors: M G Reid
R E Edwards
S Kranendijk
E J S Leek
M A Curry





Registered office: 7 Swan Court, Cygnet Park
Forder Way, Hampton
Peterborough
England
PE7 8GX





Business address: 289 Dogsthorpe Road
Peterborough
Cambridgeshire
PE1 3PA





Registered number: 06356310 (England and Wales)





Accountants: Moore Thompson
7 Swan Court
Forder Way, Cygnet Park
Hampton
Peterborough
Cambridgeshire
PE7 8GX

Chartered Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
Solar Polar Limited


The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Statement of financial position. Readers are cautioned that the Income statement and certain other primary statements and the Report of the directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Solar Polar Limited for the year ended 31 August 2024 which comprise the Income statement, Statement of financial position and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Solar Polar Limited, as a body, in accordance with the terms of our engagement letter dated 21 September 2023. Our work has been undertaken solely to prepare for your approval the financial statements of Solar Polar Limited and state those matters that we have agreed to state to the Board of Directors of Solar Polar Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Solar Polar Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Solar Polar Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Solar Polar Limited. You consider that Solar Polar Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Solar Polar Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Moore Thompson
7 Swan Court
Forder Way, Cygnet Park
Hampton
Peterborough
Cambridgeshire
PE7 8GX


14 November 2024

Solar Polar Limited (Registered number: 06356310)

Statement of Financial Position
31 August 2024

2024 2023
Notes £    £    £    £   
Fixed assets
Intangible assets 5 1,219,601 1,022,596
Tangible assets 6 526 1,454
1,220,127 1,024,050

Current assets
Debtors 7 144,152 95,061
Cash at bank 29,058 30,106
173,210 125,167
Creditors
Amounts falling due within one year 8 13,008 13,312
Net current assets 160,202 111,855
Total assets less current liabilities 1,380,329 1,135,905

Creditors
Amounts falling due after more than one
year

9

(30,654

)

(35,883

)

Provisions for liabilities (217,938 ) (67,533 )
Net assets 1,131,737 1,032,489

Capital and reserves
Called up share capital 162 141
Share premium 703,268 334,773
Long term loan capital 49,000 149,000
Retained earnings 379,307 548,575
1,131,737 1,032,489

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2024 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.

Solar Polar Limited (Registered number: 06356310)

Statement of Financial Position - continued
31 August 2024


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 14 November 2024 and were signed on its behalf by:





M A Curry - Director


Solar Polar Limited (Registered number: 06356310)

Notes to the Financial Statements
for the Year Ended 31 August 2024


1. Statutory information

Solar Polar 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.

The presentation currency of the financial statements is the Pound Sterling (£).


2. Statement of compliance

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.

3. Accounting policies

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

Intangible assets
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:

Patents - 5% straight line

If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.

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

Office equipment - 33% straight line

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.

Solar Polar Limited (Registered number: 06356310)

Notes to the Financial Statements - continued
for the Year Ended 31 August 2024


3. Accounting policies - continued

Research and development
Research expenditure is written off when it is incurred. Development expenditure is also written off except where it is incurred on development projects which are expected to generate future economic benefits, in which case it is capitalised as an intangible fixed asset until brought into use, and written off over a period not exceeding 20 years.

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.

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.

4. Employees and directors

The average number of employees during the year was 3 (2023 - 3 ) .

5. Intangible fixed assets
Development
Patents costs Totals
£    £    £   
Cost
At 1 September 2023 23,970 1,002,877 1,026,847
Additions 22,577 183,510 206,087
Disposals (7,505 ) - (7,505 )
At 31 August 2024 39,042 1,186,387 1,225,429
Amortisation
At 1 September 2023 4,251 - 4,251
Amortisation for year 1,952 - 1,952
Eliminated on disposal (375 ) - (375 )
At 31 August 2024 5,828 - 5,828
Net book value
At 31 August 2024 33,214 1,186,387 1,219,601
At 31 August 2023 19,719 1,002,877 1,022,596

Solar Polar Limited (Registered number: 06356310)

Notes to the Financial Statements - continued
for the Year Ended 31 August 2024


6. Tangible fixed assets
Office
equipment
£   
Cost
At 1 September 2023 3,911
Additions 453
At 31 August 2024 4,364
Depreciation
At 1 September 2023 2,457
Charge for year 1,381
At 31 August 2024 3,838
Net book value
At 31 August 2024 526
At 31 August 2023 1,454

7. Debtors: amounts falling due within one year
2024 2023
£    £   
Corporation tax 49,493 5,982
VAT 1,183 5,767
Deferred tax asset 90,433 82,334
Prepayments 3,043 978
144,152 95,061

8. Creditors: amounts falling due within one year
2024 2023
£    £   
Bank loans and overdrafts 5,705 5,643
Trade creditors 601 782
Social security and other taxes 2,002 1,777
Other creditors 764 -
Directors' loan accounts 1,611 1,460
Accrued expenses 2,325 3,650
13,008 13,312

9. Creditors: amounts falling due after more than one year
2024 2023
£    £   
Bank loans 30,654 35,883