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REGISTERED NUMBER: 14028868 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 May 2024

for

Polacap Services Ltd

Polacap Services Ltd (Registered number: 14028868)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Polacap Services Ltd

Company Information
for the Year Ended 31 May 2024







DIRECTOR: A R Jones





SECRETARY:





REGISTERED OFFICE: Suite 1 & 2
Marshall Business Centre
Faraday Road
Hereford
HR4 9NS





REGISTERED NUMBER: 14028868 (England and Wales)





ACCOUNTANTS: R J Francis & Co
Suites 1 & 2
Marshall Business Centre
Faraday Road
Hereford
Herefordshire
HR4 9NS

Polacap Services Ltd (Registered number: 14028868)

Balance Sheet
31 May 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 30,000 40,000
Tangible assets 5 53,092 17,552
83,092 57,552

CURRENT ASSETS
Stocks 7,800 7,500
Debtors 6 49,332 43,050
Cash at bank and in hand 157,999 84,075
215,131 134,625
CREDITORS
Amounts falling due within one year 7 97,445 83,744
NET CURRENT ASSETS 117,686 50,881
TOTAL ASSETS LESS CURRENT LIABILITIES 200,778 108,433

PROVISIONS FOR LIABILITIES 10,087 1,463
NET ASSETS 190,691 106,970

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 190,689 106,968
190,691 106,970

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

Polacap Services Ltd (Registered number: 14028868)

Balance Sheet - continued
31 May 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 director and authorised for issue on 3 September 2024 and were signed by:





A R Jones - Director


Polacap Services Ltd (Registered number: 14028868)

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

1. STATUTORY INFORMATION

Polacap 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.

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.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2022, is being amortised evenly over its estimated useful life of five years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 25% on cost
Motor vehicles - 25% 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.

Polacap Services Ltd (Registered number: 14028868)

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

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 1 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 June 2023
and 31 May 2024 50,000
AMORTISATION
At 1 June 2023 10,000
Amortisation for year 10,000
At 31 May 2024 20,000
NET BOOK VALUE
At 31 May 2024 30,000
At 31 May 2023 40,000

5. TANGIBLE FIXED ASSETS
Plant and Motor
machinery vehicles Totals
£    £    £   
COST
At 1 June 2023 3,402 20,000 23,402
Additions - 41,390 41,390
At 31 May 2024 3,402 61,390 64,792
DEPRECIATION
At 1 June 2023 850 5,000 5,850
Charge for year 850 5,000 5,850
At 31 May 2024 1,700 10,000 11,700
NET BOOK VALUE
At 31 May 2024 1,702 51,390 53,092
At 31 May 2023 2,552 15,000 17,552

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 48,783 43,050
Other debtors 549 -
49,332 43,050

Polacap Services Ltd (Registered number: 14028868)

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

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 61,103 28,589
Taxation and social security 31,211 42,146
Other creditors 5,131 13,009
97,445 83,744