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Company No: 10932377 (England and Wales)

POLAR HOLDINGS LIMITED

Unaudited Financial Statements
For the financial year ended 31 October 2024
Pages for filing with the registrar

POLAR HOLDINGS LIMITED

Unaudited Financial Statements

For the financial year ended 31 October 2024

Contents

POLAR HOLDINGS LIMITED

BALANCE SHEET

As at 31 October 2024
POLAR HOLDINGS LIMITED

BALANCE SHEET (continued)

As at 31 October 2024
Note 2024 2023
£ £
Fixed assets
Investment property 3 698,523 698,523
Investments 4 20 20
698,543 698,543
Current assets
Cash at bank and in hand 4,099 12,974
4,099 12,974
Creditors: amounts falling due within one year 5 ( 188,718) ( 189,623)
Net current liabilities (184,619) (176,649)
Total assets less current liabilities 513,924 521,894
Creditors: amounts falling due after more than one year 6 ( 432,516) ( 445,926)
Net assets 81,408 75,968
Capital and reserves
Called-up share capital 7 22 22
Profit and loss account 81,386 75,946
Total shareholders' funds 81,408 75,968

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.

Directors' responsibilities:

The financial statements of Polar Holdings Limited (registered number: 10932377) were approved and authorised for issue by the Board of Directors on 28 July 2025. They were signed on its behalf by:

P A Rogers
Director
POLAR HOLDINGS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 October 2024
POLAR HOLDINGS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 October 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Polar Holdings Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Towngate House, 2-8 Parkstone Road, Poole, BH15 2PW, United Kingdom. The principal place of business is Unit 4-5 Westminster Road, Westminster Industrial Estate, Wareham, Dorset, BH20 4SW.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Investment property

Investment property is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at each reporting date with changes in fair value recognised in profit or loss. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.

Fixed asset investments

Investments are recognised initially at fair value which is normally the transaction price excluding transaction costs. Subsequently, they are measured at fair value through profit or loss if the shares are publicly traded or their fair value can otherwise be measured reliably. Other investments are measured at cost less impairment.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets receivable within one year, such as trade debtors and bank balances, are measured at transaction price less any impairment.

Basic financial assets receivable within more than one year are measured at amortised cost less any impairment.

Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Basic financial liabilities
Basic financial liabilities that have no stated interest rate and are payable within one year, such as trade creditors, are measured at transaction price.

Other basic financial liabilities are measured at amortised cost.

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 2 2

3. Investment property

Investment property
£
Valuation
As at 01 November 2023 698,523
As at 31 October 2024 698,523

4. Fixed asset investments

Investments in subsidiaries

2024
£
Cost
At 01 November 2023 20
At 31 October 2024 20
Carrying value at 31 October 2024 20
Carrying value at 31 October 2023 20

5. Creditors: amounts falling due within one year

2024 2023
£ £
Bank loans 15,960 15,960
Amounts owed to Group undertakings 165,643 165,643
Taxation and social security 1,276 2,223
Other creditors 5,839 5,797
188,718 189,623

6. Creditors: amounts falling due after more than one year

2024 2023
£ £
Bank loans 432,516 445,926

There are no amounts included above in respect of which any security has been given by the small entity.

7. Called-up share capital

2024 2023
£ £
Allotted, called-up and fully-paid
22 Ordinary shares of £ 1.00 each 22 22