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Registration number: 10520539

Poltair Group Limited

Unaudited Filleted Financial Statements

for the Year Ended 30 April 2024

 

Poltair Group Limited

Contents

Statement of Financial Position

1

Notes to the Unaudited Financial Statements

2 to 5

 

Poltair Group Limited

(Registration number: 10520539)
Statement of Financial Position as at 30 April 2024

Note

2024
£

2023
£

Fixed assets

 

Investments

4

1,302,279

1,302,279

Current assets

 

Debtors

5

183,515

183,515

Creditors: Amounts falling due within one year

6

(604,090)

(604,090)

Net current liabilities

 

(420,575)

(420,575)

Total assets less current liabilities

 

881,704

881,704

Creditors: Amounts falling due after more than one year

6

(881,253)

(881,253)

Net assets

 

451

451

Capital and reserves

 

Called up share capital

278

278

Profit and loss account

173

173

Shareholders' funds

 

451

451

For the financial year ending 30 April 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Statement of Comprehensive Income.

Approved and authorised by the Board on 27 January 2025 and signed on its behalf by:
 


Mr Ronald Ley
Director

 

Poltair Group Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

1

General information

The company is a private company limited by share capital, incorporated in United Kingdom .

The address of its registered office is:
47 Boutport Street
Barnstaple
Devon
EX31 1SQ

Principal activity

The principal activity of the company is that of a dormant holding company.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The financial statements are prepared in sterling which is the functional currency of the entity.

Group accounts not prepared

The company has taken advantage of the option not to prepare consolidated financial statements contained in Section 398 of the Companies Act 2006 on the basis that the company and its subsidiary undertakings compromise a small group.

Going concern

The financial statements have been prepared on a going concern basis.

 

Poltair Group Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024 (continued)

2

Accounting policies (continued)

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Accounting estimates and assumptions are made concerning the future and, by their nature, will rarely equal the related actual outcome.

Investments

Investments in subsidiaries are recognised at cost.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the statement of comprehensive income over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Financial instruments

Recognition and measurement
A financial asset or a financial liability is recognised only when the company becomes party to the contractual provisions of the instrument.

Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 0 (2023 - 0).

4

Investments

2024
£

2023
£

Investments in subsidiaries

1,302,279

1,302,279

 

Poltair Group Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024 (continued)

4

Investments (continued)

Subsidiaries

£

Cost or valuation

At 1 May 2023

1,302,279

Provision

Carrying amount

At 30 April 2024

1,302,279

At 30 April 2023

1,302,279

5

Debtors

Note

2024
£

2023
£

Amounts owed by related parties

8

183,237

183,237

Other debtors

 

278

278

 

183,515

183,515

6

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Amounts owed to group undertakings and undertakings in which the company has a participating interest

8

604,090

604,090

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

881,253

881,253

Loans and borrowings are redeemable preference shares of £1. They have a redemption date of 15 December 2026 and carry a fixed preference dividend of 5% per annum.

7

Reserves

Profit and loss account:

This reserve records retained earnings and accumulated losses.

 

Poltair Group Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024 (continued)

8

Related party transactions

Transactions with group companies

The company has taken advantage of the exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the the group.