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Registration number: 09014676

Polaris3 Limited

trading as TLC Accountants

Annual Report and Unaudited Financial Statements

for the Year Ended 31 October 2024

 

Polaris3 Limited

trading as TLC Accountants

Contents

Balance Sheet

1 to 2

Notes to the Unaudited Financial Statements

3 to 8

 

Polaris3 Limited

trading as TLC Accountants

(Registration number: 09014676)
Balance Sheet as at 31 October 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

5

2,537

2,505

Current assets

 

Stocks

6

7,145

5,790

Debtors

7

273,877

198,789

Cash at bank and in hand

 

446,848

363,960

 

727,870

568,539

Creditors: Amounts falling due within one year

8

(268,423)

(232,846)

Net current assets

 

459,447

335,693

Total assets less current liabilities

 

461,984

338,198

Provisions for liabilities

(634)

(476)

Net assets

 

461,350

337,722

Capital and reserves

 

Called up share capital

20

15

Capital redemption reserve

5

5

Retained earnings

461,325

337,702

Shareholders' funds

 

461,350

337,722

For the financial year ending 31 October 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

Approved and authorised by the director on 19 July 2025
 

 

Polaris3 Limited

trading as TLC Accountants

(Registration number: 09014676)
Balance Sheet as at 31 October 2024

Mrs C A Mattison
Director

   
     
 

Polaris3 Limited

trading as TLC Accountants

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2024

1

General information

The company is a private company limited by share capital, incorporated in United Kingdom.

The address of its registered office is:
Parkhill Studio
Walton Road
Wetherby
West Yorkshire
LS22 5DZ
England

These financial statements were authorised for issue by the director on 19 July 2025.

2

Accounting policies

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the Company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts and after eliminating sales within the company.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

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

 

Polaris3 Limited

trading as TLC Accountants

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2024

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Computer equipment

33% straight line

Furniture and fittings

33% straight line

Plant and machinery

33% straight line

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

 

Polaris3 Limited

trading as TLC Accountants

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2024

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 5 (2023 - 7).

 

Polaris3 Limited

trading as TLC Accountants

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2024

4

Profit before tax

Arrived at after charging/(crediting)

2024
£

2023
£

Depreciation expense

1,268

3,372

 

Polaris3 Limited

trading as TLC Accountants

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2024

5

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 November 2023

34,562

34,562

Additions

1,300

1,300

At 31 October 2024

35,862

35,862

Depreciation

At 1 November 2023

32,057

32,057

Charge for the year

1,268

1,268

At 31 October 2024

33,325

33,325

Carrying amount

At 31 October 2024

2,537

2,537

At 31 October 2023

2,505

2,505

6

Stocks

2024
£

2023
£

Work in progress

7,145

5,790

7

Debtors

Current

2024
£

2023
£

Trade debtors

85,668

74,573

Other debtors

188,209

124,216

 

273,877

198,789

 

Polaris3 Limited

trading as TLC Accountants

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2024

8

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

106,298

64,794

Trade creditors

 

996

4,398

Taxation and social security

 

112,400

94,478

Accruals and deferred income

 

48,000

68,000

Other creditors

 

729

1,176

 

268,423

232,846