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REGISTERED NUMBER: 00883120 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2024

FOR

POLAR PUMPS LIMITED

POLAR PUMPS LIMITED (REGISTERED NUMBER: 00883120)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


POLAR PUMPS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 OCTOBER 2024







DIRECTORS: W J B Choppin
B J Choppin
P White





SECRETARY: B J Choppin





REGISTERED OFFICE: Brunel Close
Brunel Industrial Estate
Blyth Road Harworth
DONCASTER
DN11 8QA





REGISTERED NUMBER: 00883120 (England and Wales)

POLAR PUMPS LIMITED (REGISTERED NUMBER: 00883120)

BALANCE SHEET
31 OCTOBER 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 587,890 581,823
Investment property 5 315,000 315,000
902,890 896,823

CURRENT ASSETS
Stocks 500 500
Debtors 6 153,713 121,679
Cash at bank and in hand 1,213,176 1,060,434
1,367,389 1,182,613
CREDITORS
Amounts falling due within one year 7 105,672 93,289
NET CURRENT ASSETS 1,261,717 1,089,324
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,164,607

1,986,147

PROVISIONS FOR LIABILITIES 24,419 16,751
NET ASSETS 2,140,188 1,969,396

CAPITAL AND RESERVES
Called up share capital 1,000 1,000
Fair value reserve 8 9,519 9,519
Retained earnings 8 2,129,669 1,958,877
SHAREHOLDERS' FUNDS 2,140,188 1,969,396

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

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

POLAR PUMPS LIMITED (REGISTERED NUMBER: 00883120)

BALANCE SHEET - continued
31 OCTOBER 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 24 February 2025 and were signed on its behalf by:





B J Choppin - Director


POLAR PUMPS LIMITED (REGISTERED NUMBER: 00883120)

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

1. STATUTORY INFORMATION

Polar Pumps 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.

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 as modified by the revaluation of certain assets.

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
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - 4% on cost
Plant and machinery - 25% on reducing balance
Motor vehicles - 25% on reducing balance

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

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.

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 6 (2023 - 5 ) .

POLAR PUMPS LIMITED (REGISTERED NUMBER: 00883120)

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

4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 November 2023 669,844 462,904 1,132,748
Additions - 91,244 91,244
Disposals - (9,965 ) (9,965 )
At 31 October 2024 669,844 544,183 1,214,027
DEPRECIATION
At 1 November 2023 275,066 275,859 550,925
Charge for year 9,997 67,706 77,703
Eliminated on disposal - (2,491 ) (2,491 )
At 31 October 2024 285,063 341,074 626,137
NET BOOK VALUE
At 31 October 2024 384,781 203,109 587,890
At 31 October 2023 394,778 187,045 581,823

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 November 2023
and 31 October 2024 315,000
NET BOOK VALUE
At 31 October 2024 315,000
At 31 October 2023 315,000

Fair value at 31 October 2024 is represented by:
£   
Valuation in 2018 315,000

If investment properties had not been revalued they would have been included at the following historical cost:

2024 2023
£    £   
Cost 305,481 305,481

Investment properties were valued on an open market basis on 31 October 2018 by the directors .

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 133,638 102,063
Other debtors - 1,000
Prepayments 20,075 18,616
153,713 121,679

POLAR PUMPS LIMITED (REGISTERED NUMBER: 00883120)

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

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 3,645 20,127
Tax 52,789 47,773
Social security and other taxes 24,730 14,502
VAT 17,330 4,653
Pension control 3,004 2,605
Directors' current accounts 774 774
Accrued expenses 3,400 2,855
105,672 93,289

8. RESERVES
Fair
Retained value
earnings reserve Totals
£    £    £   

At 1 November 2023 1,958,877 9,519 1,968,396
Profit for the year 170,792 170,792
At 31 October 2024 2,129,669 9,519 2,139,188

9. OTHER FINANCIAL COMMITMENTS

At the year end the company was committed to pay £6439 (2023: £2961) in respect of vehicle leases.