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REGISTERED NUMBER: 03149105 (England and Wales)















FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

POLAR SEAFOODS (UK) LIMITED

POLAR SEAFOODS (UK) LIMITED (REGISTERED NUMBER: 03149105)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


POLAR SEAFOODS (UK) LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2024







DIRECTORS: Mrs L B Raynard
H Leth
J A Christiansen



SECRETARY: Mrs L B Raynard



REGISTERED OFFICE: Unit 1
Carr Hall Farm
Turnditch
Derbyshire
DE56 2LW



REGISTERED NUMBER: 03149105 (England and Wales)



SENIOR STATUTORY AUDITOR: Rachel Davis BA FCA



AUDITORS: Just Audit Limited
Chartered Accountants & Statutory Auditors
Strelley Hall
Main Street
Strelley
Nottingham
NG8 6PE

POLAR SEAFOODS (UK) LIMITED (REGISTERED NUMBER: 03149105)

BALANCE SHEET
31 DECEMBER 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 71,959 32,459

CURRENT ASSETS
Debtors 5 166,706 130,349
Cash at bank 29,507 86,919
196,213 217,268
CREDITORS
Amounts falling due within one year 6 60,922 52,870
NET CURRENT ASSETS 135,291 164,398
TOTAL ASSETS LESS CURRENT
LIABILITIES

207,250

196,857

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 207,150 196,757
207,250 196,857

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 29 January 2025 and were signed on its behalf by:





Mrs L B Raynard - Director


POLAR SEAFOODS (UK) LIMITED (REGISTERED NUMBER: 03149105)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

1. STATUTORY INFORMATION

Polar Seafoods (UK) Limited is a private company, limited by shares, registered in England and Wales.

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

The company registered number is 03149105 and the registered office address is Unit 1, Carr Hall Farm, Turnditch, Derbyshire, DE56 2LW

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with and comply with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

These accounts have been prepared on the going concern basis. At the time of approving the financial statements the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future due to the fact that the company has the continued support of the group which has continued to trade well. The directors have been given assurance that this support will continue for the foreseeable future.

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
Fixed assets are initially recognised at cost and then 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 cost
Computer equipment - 33% on cost

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.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

POLAR SEAFOODS (UK) LIMITED (REGISTERED NUMBER: 03149105)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2024

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 1 (2023 - 1 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
and Motor Computer
fittings vehicles equipment Totals
£    £    £    £   
COST
At 1 January 2024 4,429 74,485 1,847 80,761
Additions - 89,980 1,365 91,345
Disposals - (74,485 ) (1,601 ) (76,086 )
At 31 December 2024 4,429 89,980 1,611 96,020
DEPRECIATION
At 1 January 2024 1,034 45,485 1,783 48,302
Charge for year 886 21,700 259 22,845
Eliminated on disposal - (45,485 ) (1,601 ) (47,086 )
At 31 December 2024 1,920 21,700 441 24,061
NET BOOK VALUE
At 31 December 2024 2,509 68,280 1,170 71,959
At 31 December 2023 3,395 29,000 64 32,459

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Amounts owed by group undertakings 162,093 127,063
VAT 998 1,312
Deferred tax asset 1,934 225
Prepayments 1,681 1,749
166,706 130,349

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 532 520
Company Credit Card 141 628
Corporation Tax 5,024 6,476
Social security and other taxes 9,114 -
Accrued expenses 46,111 45,246
60,922 52,870

POLAR SEAFOODS (UK) LIMITED (REGISTERED NUMBER: 03149105)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2024

7. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.
Rachel Davis BA FCA (Senior Statutory Auditor)
for and on behalf of Just Audit Limited

8. CAPITAL COMMITMENTS
2024 2023
£    £   
Contracted but not provided for in the
financial statements - 89,980

9. ULTIMATE CONTROLLING PARTY

The ultimate parent company and controlling party is Polar Seafood Denmark A/S, a company incorporated in Denmark. The parent undertaking of the smallest group which includes the company and for which group accounts are prepared is Polar Seafood Denmark A/S. Copies of the financial statements of that company are available from 2 Baldrianvej, DK-9310 Vodskov, Denmark.