Acorah Software Products - Accounts Production 16.3.350 false true 31 August 2023 1 September 2022 false 1 September 2023 31 August 2024 31 August 2024 07332344 Mr James Smith Mr Gary Warner iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 07332344 2023-08-31 07332344 2024-08-31 07332344 2023-09-01 2024-08-31 07332344 frs-core:CurrentFinancialInstruments 2024-08-31 07332344 frs-core:Non-currentFinancialInstruments 2024-08-31 07332344 frs-core:ComputerEquipment 2024-08-31 07332344 frs-core:ComputerEquipment 2023-09-01 2024-08-31 07332344 frs-core:ComputerEquipment 2023-08-31 07332344 frs-core:FurnitureFittings 2024-08-31 07332344 frs-core:FurnitureFittings 2023-09-01 2024-08-31 07332344 frs-core:FurnitureFittings 2023-08-31 07332344 frs-core:CapitalRedemptionReserve 2024-08-31 07332344 frs-core:ShareCapital 2024-08-31 07332344 frs-core:RetainedEarningsAccumulatedLosses 2024-08-31 07332344 frs-bus:PrivateLimitedCompanyLtd 2023-09-01 2024-08-31 07332344 frs-bus:FilletedAccounts 2023-09-01 2024-08-31 07332344 frs-bus:SmallEntities 2023-09-01 2024-08-31 07332344 frs-bus:AuditExempt-NoAccountantsReport 2023-09-01 2024-08-31 07332344 frs-bus:SmallCompaniesRegimeForAccounts 2023-09-01 2024-08-31 07332344 frs-bus:Director1 2023-09-01 2024-08-31 07332344 frs-bus:Director2 2023-09-01 2024-08-31 07332344 frs-countries:EnglandWales 2023-09-01 2024-08-31 07332344 2022-08-31 07332344 2023-08-31 07332344 2022-09-01 2023-08-31 07332344 frs-core:CurrentFinancialInstruments 2023-08-31 07332344 frs-core:Non-currentFinancialInstruments 2023-08-31 07332344 frs-core:CapitalRedemptionReserve 2023-08-31 07332344 frs-core:ShareCapital 2023-08-31 07332344 frs-core:RetainedEarningsAccumulatedLosses 2023-08-31
Registered number: 07332344
Polestar Seafood Limited
Unaudited Financial Statements
For The Year Ended 31 August 2024
A Wigglesworth & Company Ltd
Armstrong House
First Avenue
Doncaster
DN9 3GA
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 07332344
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 - 79
- 79
CURRENT ASSETS
Stocks 5 508,981 715,583
Debtors 6 347,630 554,086
Cash at bank and in hand 110 110
856,721 1,269,779
Creditors: Amounts Falling Due Within One Year 7 (597,504 ) (912,880 )
NET CURRENT ASSETS (LIABILITIES) 259,217 356,899
TOTAL ASSETS LESS CURRENT LIABILITIES 259,217 356,978
Creditors: Amounts Falling Due After More Than One Year 8 (10,000 ) (20,000 )
NET ASSETS 249,217 336,978
CAPITAL AND RESERVES
Called up share capital 112 112
Capital redemption reserve 4 4
Profit and Loss Account 249,101 336,862
SHAREHOLDERS' FUNDS 249,217 336,978
Page 1
Page 2
For the year ending 31 August 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr James Smith
Director
28/05/2025
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Polestar Seafood Limited is a private company, limited by shares, incorporated in England & Wales, registered number 07332344 . The registered office is Armstrong House, First Avenue, Finningley, Doncaster, South Yorkshire, DN9 3GA.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Fixtures & Fittings 25% on cost
Computer Equipment 25% on cost
2.4. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
2.5. 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.
...CONTINUED
Page 3
Page 4
2.5. Taxation - continued
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.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 2 (2023: 2)
2 2
4. Tangible Assets
Fixtures & Fittings Computer Equipment Total
£ £ £
Cost
As at 1 September 2023 348 13,650 13,998
As at 31 August 2024 348 13,650 13,998
Depreciation
As at 1 September 2023 348 13,571 13,919
Provided during the period - 79 79
As at 31 August 2024 348 13,650 13,998
Net Book Value
As at 31 August 2024 - - -
As at 1 September 2023 - 79 79
5. Stocks
2024 2023
£ £
Stock 508,981 715,583
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 344,185 552,369
VAT 3,445 1,565
Directors' loan accounts - 152
347,630 554,086
Page 4
Page 5
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 3,972 5,318
Bank loans and overdrafts 359,583 310,402
Corporation tax - 1,191
Accruals and deferred income 2,600 2,600
Amounts owed to related parties 231,349 593,369
597,504 912,880
8. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 10,000 20,000
9. Secured Creditors
The following secured debts are included within creditors.
The bank overdraft is secured by the following:
- A debenture over the assets of the company.
- A corporate guarantee by Warners Fishmerchants Limited.
2024 2023
£ £
Bank loans and overdrafts 349,583 300,402
Page 5