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REGISTERED NUMBER: SC371822 (Scotland)















Unaudited Financial Statements for the Year Ended 30 September 2024

for

Polaris Diagnostics & Engineering Ltd.

Polaris Diagnostics & Engineering Ltd. (Registered number: SC371822)






Contents of the Financial Statements
for the Year Ended 30 September 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Polaris Diagnostics & Engineering Ltd.

Company Information
for the Year Ended 30 September 2024







DIRECTORS: Polaris Diagnostics & Engineering Ltd.
I B B Hunter





REGISTERED OFFICE: Unit 25 Hillhouse Community Workshops
37 Argyle Crescent
Hamilton
Lanarkshire
ML3 9BQ





REGISTERED NUMBER: SC371822 (Scotland)





ACCOUNTANTS: ICW Accountancy Ltd
15 St Leonard Street
Lanark
Lanarkshire
ML11 7AB

Polaris Diagnostics & Engineering Ltd. (Registered number: SC371822)

Balance Sheet
30 September 2024

30.9.24 30.9.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 19,391 13,467

CURRENT ASSETS
Stocks 21,263 -
Debtors 5 181,569 185,972
Cash at bank 96,962 131,940
299,794 317,912
CREDITORS
Amounts falling due within one year 6 102,787 42,622
NET CURRENT ASSETS 197,007 275,290
TOTAL ASSETS LESS CURRENT
LIABILITIES

216,398

288,757

ACCRUALS AND DEFERRED INCOME 119 237
NET ASSETS 216,279 288,520

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings 216,278 288,519
216,279 288,520

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 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.

Polaris Diagnostics & Engineering Ltd. (Registered number: SC371822)

Balance Sheet - continued
30 September 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 17 June 2025 and were signed on its behalf by:





I B B Hunter - Director


Polaris Diagnostics & Engineering Ltd. (Registered number: SC371822)

Notes to the Financial Statements
for the Year Ended 30 September 2024

1. STATUTORY INFORMATION

Polaris Diagnostics & Engineering Ltd. is a private company, limited by shares , registered in Scotland. 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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimate useful life or, if held under a finance lease, over the lease term, whichever is shorter.

Plant & Equipment - 20% Straight Line

Fixtures & Fittings - 20% Straight Line

Computer Equipment - 20% Straight Line

Stocks
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 items.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Polaris Diagnostics & Engineering Ltd. (Registered number: SC371822)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2024

2. ACCOUNTING POLICIES - continued

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 9 (2023 - 9 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 October 2023 96,248
Additions 15,026
At 30 September 2024 111,274
DEPRECIATION
At 1 October 2023 82,781
Charge for year 9,102
At 30 September 2024 91,883
NET BOOK VALUE
At 30 September 2024 19,391
At 30 September 2023 13,467

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.9.24 30.9.23
£    £   
Trade debtors 144,414 180,713
Other debtors 37,155 5,259
181,569 185,972

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.9.24 30.9.23
£    £   
Trade creditors 37,503 3,958
Taxation and social security 17,338 32,469
Other creditors 47,946 6,195
102,787 42,622