Company registration number 10342827 (England and Wales)
Polemaze Limited
Unaudited financial statements
For the year ended 28 February 2025
Polemaze Limited
Contents
Page
Statement of financial position
1 - 2
Notes to the financial statements
3 - 8
Polemaze Limited
Statement of financial position
As at 28 February 2025
28 February 2025
- 1 -
2025
2024
Notes
£
£
£
£
Fixed assets
Intangible assets
3
10,000
16,000
Tangible assets
4
507,909
680,579
517,909
696,579
Current assets
Stocks
1,000
2,800
Debtors
5
851,716
595,470
Cash at bank and in hand
1,152
38,046
853,868
636,316
Creditors: amounts falling due within one year
6
(527,299)
(547,694)
Net current assets
326,569
88,622
Total assets less current liabilities
844,478
785,201
Creditors: amounts falling due after more than one year
7
(8,291)
(105,121)
Net assets
836,187
680,080
Capital and reserves
Called up share capital
100
100
Profit and loss reserves
836,087
679,980
Total equity
836,187
680,080
Polemaze Limited
Statement of financial position (continued)
As at 28 February 2025
28 February 2025
- 2 -

For the financial year ended 28 February 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

T he member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The directors of the company have elected not to include a copy of the income statement within the financial statements.true

The financial statements were approved by the board of directors and authorised for issue on 7 October 2025 and are signed on its behalf by:
Mrs A Dagnall
Director
Company registration number 10342827 (England and Wales)
Polemaze Limited
Notes to the financial statements
For the year ended 28 February 2025
- 3 -
1
Accounting policies
Company information

Polemaze Limited is a private company limited by shares incorporated in England and Wales. The registered office is Metal Works, Woodward Way, Atherton, Manchester, England, M46 9RU.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary a mounts in these financial statements are rounded to the nearest £.

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 financial instruments at fair value]. The principal accounting policies adopted are set out below.

Related party exemption

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

1.2
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on despatch of the goods), the amount of revenue can be measured reliably.

Revenue from contracts for the provision of services is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably.

1.3
Intangible fixed assets other than goodwill

Intangible assets acquired separately from a business are recognised at cost and are subsequently measured at cost less accumulated amortisation and accumulated impairment losses.

Intangible assets acquired on business combinations are recognised separately from goodwill at the acquisition date where it is probable that the expected future economic benefits that are attributable to the asset will flow to the entity and the fair value of the asset can be measured reliably; the intangible asset arises from contractual or other legal rights; and the intangible asset is separable from the entity.

Amortisation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Patents & licences
5 years
Polemaze Limited
Notes to the financial statements (continued)
For the year ended 28 February 2025
1
Accounting policies
(Continued)
- 4 -
1.4
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Leasehold improvements
20% Straight Line
Fixtures and fittings
20% Straight Line

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.5
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.

1.6
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

Stocks held for distribution at no or nominal consideration are measured at the lower of cost and replacement cost, adjusted where applicable for any loss of service potential.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

1.7
Financial instruments

Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss.

1.8
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Polemaze Limited
Notes to the financial statements (continued)
For the year ended 28 February 2025
1
Accounting policies
(Continued)
- 5 -
Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the income statement because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the income statement, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

1.9
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.10
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.11
Leases
As lessee

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.

Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the statement of financial position as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to profit or loss so as to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the lease s asset are consumed.

Polemaze Limited
Notes to the financial statements (continued)
For the year ended 28 February 2025
- 6 -
2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2025
2024
Number
Number
Total
2
2
3
Intangible fixed assets
Patents & licences
£
Cost
At 1 March 2024 and 28 February 2025
30,000
Amortisation and impairment
At 1 March 2024
14,000
Amortisation charged for the year
6,000
At 28 February 2025
20,000
Carrying amount
At 28 February 2025
10,000
At 29 February 2024
16,000
4
Tangible fixed assets
Leasehold improvements
Fixtures and fittings
Total
£
£
£
Cost
At 1 March 2024
534,217
337,305
871,522
Additions
-
0
1,700
1,700
At 28 February 2025
534,217
339,005
873,222
Depreciation and impairment
At 1 March 2024
124,224
66,719
190,943
Depreciation charged in the year
106,836
67,534
174,370
At 28 February 2025
231,060
134,253
365,313
Carrying amount
At 28 February 2025
303,157
204,752
507,909
At 29 February 2024
409,993
270,586
680,579
Polemaze Limited
Notes to the financial statements (continued)
For the year ended 28 February 2025
- 7 -
5
Debtors
2025
2024
Amounts falling due within one year:
£
£
Amounts owed by group undertakings
83,352
464,417
Other debtors
778,764
131,053
862,116
595,470
Deferred tax asset
(10,400)
-
0
851,716
595,470
6
Creditors: amounts falling due within one year
2025
2024
£
£
Trade creditors
2,860
42,589
Amounts owed to group undertakings
393,900
393,900
Taxation and social security
23,549
11,220
Other creditors
106,990
99,985
527,299
547,694

Included in other creditors are finance leases which are secured by fixed charges over the assets to which they relate.

7
Creditors: amounts falling due after more than one year
2025
2024
£
£
Other creditors
8,291
105,121

Other creditors are finance leases which are secured by fixed charges over the assets to which they relate.

8
Operating lease commitments
As lessee

Operating lease payments represent rentals payable by the company for certain of its properties.

At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:

2025
2024
£
£
Total commitments
186,667
266,667
Polemaze Limited
Notes to the financial statements (continued)
For the year ended 28 February 2025
8
Operating lease commitments
(Continued)
- 8 -
9
Related party transactions
Transactions with related parties

During the year the company entered into the following transactions with related parties:

Companies under common control

Purchases were incurred from companies under common control of £84,926 (2024 - £87,478) in the period.

At the period end, loan balances owed to the company from connected parties amounted to £610,904 (2024 - £395,904).

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