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Registered number: 13158576










POLYSTAR PRIVATE ESTATES LIMITED








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 JULY 2024

 
POLYSTAR PRIVATE ESTATES LIMITED
REGISTERED NUMBER: 13158576

BALANCE SHEET
AS AT 31 JULY 2024

2024
2023
Note
£
£

Fixed assets
  

Investment property
 4 
1,685,957
1,685,957

  
1,685,957
1,685,957

Current Assets
  

Debtors: amounts falling due within one year
 5 
2,881
2,419

Cash at bank and in hand
 6 
3,705
119,735

Current liablities
  
6,586
122,154

Creditors: amounts falling due within one year
 7 
(21,928)
(19,659)

Net current (liabilities)/assets
  
 
 
(15,342)
 
 
102,495

Total assets less current liabilities
  
1,670,615
1,788,452

Creditors: amounts falling due after more than one year
 8 
(1,477,190)
(1,652,190)

  

Net assets
  
193,425
136,262


Capital and reserves
  

Called up share capital 
 9 
100
100

Profit and loss account
  
193,325
136,162

  
193,425
136,262


Page 1

 
POLYSTAR PRIVATE ESTATES LIMITED
REGISTERED NUMBER: 13158576

BALANCE SHEET (CONTINUED)
AS AT 31 JULY 2024

The Directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The Directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




J Talwar
Director

Date: 25 April 2025

The notes on pages 3 to 7 form part of these financial statements.

Page 2

 
POLYSTAR PRIVATE ESTATES LIMITED
 

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

1.


General information

Polystar Private Estates Limited is a limited liability company incorporated in England and Wales. The address of its registered office and principal place of business is Peel House, Peel Street, Northam, Southampton, SO14 5QT.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies.

  
2.2

Revenue

Revenue comprises rental income and is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. 

 
2.3

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


 
2.4

Investment property

Investment property is carried at fair value determined annually by external valuers and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in profit or loss.

Page 3

 
POLYSTAR PRIVATE ESTATES LIMITED
 

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

2.Accounting policies (continued)

 
2.5

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.6

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.7

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

  
2.8

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liablities like trade and other debtors and creditors, loans from banks and other third parties and loans to related parties.


3.


Employees




The average monthly number of employees, including directors, during the year was 4 (2023 - 4).

Page 4

 
POLYSTAR PRIVATE ESTATES LIMITED
 

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

4.


Investment property


Freehold investment property

£



Valuation


At 1 August 2023
1,685,957



At 31 July 2024
1,685,957

The 2024 valuations were made by the Company, on an open market value for existing use basis.





If the Investment properties had been accounted for under the historic cost accounting rules, the properties would have been measured as follows:

2024
2023
£
£


Historic cost
1,685,957
1,685,957

Page 5

 
POLYSTAR PRIVATE ESTATES LIMITED
 

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

5.


Debtors

2024
2023
£
£


Other debtors
163
160

Prepayments
2,718
2,259

2,881
2,419



6.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
3,705
119,735



7.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
-
86

Corporation tax
19,378
17,073

Accruals and deferred income
2,550
2,500

21,928
19,659



8.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Amounts owed to related companies
1,477,190
1,652,190

1,477,190
1,652,190


Page 6

 
POLYSTAR PRIVATE ESTATES LIMITED
 

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

9.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



100 (2023 - 100) Ordinary shares of £1.00 each
100
100



10.


Related party transactions

Polystar Private Estates Limited and Polystar Plastics Limited are companies under common control. At the balance sheet date £1,477,190 (2023 - £1,652,190) was due from Polystar Private Estates Limited to Polystar Plastics Limited. These amounts are without security and are interest free.


Page 7