2023-09-292024-09-282024-09-28false02702435THE POLO MAGAZINE 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THE POLO MAGAZINE LIMITED

Registered Number
02702435
(England and Wales)

Unaudited Financial Statements for the Year ended
28 September 2024

THE POLO MAGAZINE LIMITED
Company Information
for the year from 29 September 2023 to 28 September 2024

Directors

HINE, Nicholas James
HINE, Richenda Gana-Lisa

Company Secretary

HINE, Richenda Gana-Lisa

Registered Address

International House
124 Cromwell Road
Kensington
SW7 4ET

Registered Number

02702435 (England and Wales)
THE POLO MAGAZINE LIMITED
Balance Sheet as at
28 September 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets3769962
769962
Current assets
Debtors61,50422,389
61,50422,389
Creditors amounts falling due within one year(101,372)(71,499)
Net current assets (liabilities)(39,868)(49,110)
Total assets less current liabilities(39,099)(48,148)
Net assets(39,099)(48,148)
Capital and reserves
Called up share capital200200
Profit and loss account(39,299)(48,348)
Shareholders' funds(39,099)(48,148)
The financial statements were approved and authorised for issue by the Board of Directors on 26 June 2025, and are signed on its behalf by:
HINE, Nicholas James
Director
Registered Company No. 02702435
THE POLO MAGAZINE LIMITED
Notes to the Financial Statements
for the year ended 28 September 2024

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.
Turnover policy
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.
Revenue from sale of goods
Revenue from the sale of goods is recognised when the company has transferred to the buyer the significant risks and rewards of ownership of the goods, usually when goods are delivered and legal title has passed. Providing the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transition can be measured reliably.
Employee benefits
Short-term employee benefits are measured at the undiscounted amount expected to be paid in exchange for the employee's services to the company. Where employees have accrued short-term benefits which the entity has not paid by the balance sheet date, an accrual is recognised within creditors: amounts falling due within one year together with an associated expense in profit or loss. The liabilities are classified as current obligations in the statement of financial position because they are expected to be settled wholly within twelve months after the end of the period.
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.
Tangible fixed assets and depreciation
All fixed assets are initially recorded at cost. Property, plant and equipment is used in the company's principal activity for the production and supply of goods or for administrative purposes and is stated in the balance sheet under the historic cost model. This model requires the assets to be stated at cost less amounts in respect of depreciation and less any accumulated impairment losses. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value (which is the expected amount that would currently be obtained from disposal of an asset, after deducting the estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life), over the useful economic life of the respective asset as follows:
2.Average number of employees

20242023
Average number of employees during the year01
3.Tangible fixed assets

Total

£
Cost or valuation
At 29 September 234,256
At 28 September 244,256
Depreciation and impairment
At 29 September 233,294
Charge for year193
At 28 September 243,486
Net book value
At 28 September 24769
At 28 September 23962
4.Change in reporting period and impact on comparability
The year end has changed from 29th September to 28th September, the directors consider this update more appropriate for the company.