2023-01-012023-12-312023-12-31false10701315POLPO INVESTMENTS 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POLPO INVESTMENTS LIMITED

Registered Number
10701315
(England and Wales)

Unaudited Financial Statements for the Year ended
31 December 2023

POLPO INVESTMENTS LIMITED
Company Information
for the year from 1 January 2023 to 31 December 2023

Directors

Adrian Stuart Westbrook Douglas
Christopher Guzowski
Nicholas Guzowski

Registered Address

Unit 4 City Limits
Danehill
Reading
RG6 4UP

Registered Number

10701315 (England and Wales)
POLPO INVESTMENTS LIMITED
Balance Sheet as at
31 December 2023

Notes

2023

2022

£

£

£

£

Fixed assets
Investments41,292,9331,520,259
1,292,9331,520,259
Current assets
Debtors54,216,3674,374,790
Cash at bank and on hand31,50332,626
4,247,8704,407,416
Creditors amounts falling due within one year6(267,506)(100,449)
Net current assets (liabilities)3,980,3644,306,967
Total assets less current liabilities5,273,2975,827,226
Creditors amounts falling due after one year7(115,026)-
Net assets5,158,2715,827,226
Capital and reserves
Profit and loss account5,158,2715,827,226
Shareholders' funds5,158,2715,827,226
The financial statements were approved and authorised for issue by the Board of Directors on 17 April 2025, and are signed on its behalf by:
Nicholas Guzowski
Director
Registered Company No. 10701315
POLPO INVESTMENTS LIMITED
Notes to the Financial Statements
for the year ended 31 December 2023

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in accordance with the Companies Act 2006 and FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland including Section 1A Small Entities.
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the financial reporting standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Going concern
After reviewing the company's forecasts and projections, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The company therefore continues to adopt the going concern basis of accounting in preparing its financial statements.
Judgements and key sources of estimation uncertainty
In the application of the company's accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying values of assets and liabilities that are not readily apparent from other sources. These critical accounting judgements and estimations are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates. The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods. The critical judgements made by management that have a significant effect on the amounts recognised in the financial statements are described below.
Interest income
Interest income is recognised using the effective interest rate method.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Current taxation
Current tax is recognised in profit or loss, except for taxes related to revaluations of land and buildings which are recognised in other comprehensive income. Current tax represents the amount of tax payable (receivable) in respect of taxable profit (loss) for the current, or past, reporting periods. Current tax is measured at the amount expected to be paid (recovered) using the tax rates and laws which have been enacted, or substantively enacted, by the balance sheet date. Where payments to HM Revenue and Customs exceed liabilities owed, an asset is recognised to the extent of the amount of tax recoverable.
Deferred tax
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value where the difference between cost and fair value is material. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
Cash and cash equivalents
Cash and cash equivalents comprise cash at bank and on hand, demand deposits with banks and other short-term highly liquid investments with original maturities of three months or less. Bank overdrafts are disclosed separately. For the purpose of the cash flow statement, bank overdrafts form an integral part of the company's cash management and are included as a component of cash and cash equivalents.
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at transaction price and measured at amortised cost using the effective interest method. Where investments in non-derivative financial instruments are publicly traded, or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value through profit and loss. All other investments are subsequently measured at cost less impairment. Financial assets which are measured at cost or amortised cost are reviewed for objective evidence of impairment at each balance sheet date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. All equity instruments, regardless of significance, and other financial assets that are individually significant, are assessed individually for impairment.
Related parties
For the purposes of these financial statements, a related party could be a person or an entity. Careful consideration is given to the definition of a related party to ensure that all related party relationships, transactions and balances are identified.
2.Average number of employees

20232022
Average number of employees during the year33
3.Deferred tax
Increases in the UK Corporation tax rate from 19% to 25% (19% effective from 1 April 2017, and 25% effective from 1 April 2023) have been substantively enacted. This will impact the company's future tax charge accordingly. The value of the deferred tax assets at the balance sheet date has been calculated using the applicable rate when the asset is expected to be realised.
4.Fixed asset investments

Other investments1

Total

££
Cost or valuation
At 01 January 231,520,2591,520,259
Revaluations19,58319,583
Disposals(246,909)(246,909)
At 31 December 231,292,9331,292,933
Net book value
At 31 December 231,292,9331,292,933
At 31 December 221,520,2591,520,259

Notes

1Other investments other than loans
5.Debtors: amounts due within one year

2023

2022

££
Trade debtors / trade receivables84,81086,690
Other debtors4,131,5574,288,100
Total4,216,3674,374,790
6.Creditors: amounts due within one year

2023

2022

££
Trade creditors / trade payables80,13454,467
Bank borrowings and overdrafts27182
Taxation and social security16,7064,143
Other creditors146,09129,872
Accrued liabilities and deferred income24,54811,785
Total267,506100,449
7.Creditors: amounts due after one year

2023

2022

££
Other creditors115,026-
Total115,026-
8.Provisions for liabilities
9.Related party transactions
At 31 December 2023, £257,947 (2022 - £265,191) was owed to the Company by Mithra X SP Zoo related by virtue of being under common directorship. Interest was charged at 2.5% per annum up to 22 July 2021, from this date onwards interest was charged at 10%. The interest charge for the year is £5,891 (2022 - £7,356) and is expected to be repaid within 5 years. At 31 December 2023, £108,788 (2022 - £100,398) was owed to the Company by Mithra Energy S.A related by virtue of being under common directorship. Interest was charged at 2.5% per annum up to 22 July 2021, from this date onwards interest was charged at 10%. The interest charge for the year is £2,595 (2022 - £911) and is expected to be repaid within 5 years. At 31 December 2023, £77,620 (2022 - £1,381,375) was owed to the Company by Mithra II SP Zoo related by virtue of being under common directorship. Interest was charged at 2.5% per annum up to 22 July 2021, from this date onwards interest was charged at 10%. The interest charge for the year is £16,840 (2022 - £9,339) and is expected to be repaid within 5 years. At 31 December 2023, £143,264 (2022 - £131,619) was owed to the Company by Beerlab related by virtue of being under common directorship. Interest was charged at 3% per annum. The interest charge for the year is £4,046 (2022 - £1,559.)
10.Controlling party
The immediate and ultimate controlling party is Christopher Guzowski by virtue of owning a majority shareholding of the Company.