REGISTERED NUMBER: 09895845 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

POLAR MEDICAL LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

Report of the Accountants

8

DIRECTOR:

M Kyne

SECRETARY:

M Kyne

REGISTERED OFFICE:

45 Queen Street

Deal

Kent

CT14 6EY

REGISTERED NUMBER:

09895845 (England and Wales)

ACCOUNTANTS:

Higson & Co (Deal) Ltd

45 Queen Street

Deal

Kent

CT14 6EY

FIXED ASSETS

Tangible assets

4

107,286

98,064

CURRENT ASSETS

Stocks

5

271,497

199,046

Debtors

6

435,884

725,051

Cash at bank

224,137

753,364

931,518

1,677,461

CREDITORS

Amounts falling due within one year

7

454,461

1,185,164

NET CURRENT ASSETS

477,057

492,297

TOTAL ASSETS LESS CURRENT LIABILITIES

584,343

590,361

PROVISIONS FOR LIABILITIES

8

25,877

23,364

NET ASSETS

558,466

566,997

CAPITAL AND RESERVES

Called up share capital

9

81

100

Capital redemption reserve

19

-

Retained earnings

558,366

566,897

SHAREHOLDERS' FUNDS

558,466

566,997

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 30 September 2025 and were signed by:

M Kyne - Director

1.	STATUTORY INFORMATION

Polar Medical Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The financial statements are presented in round pounds sterling £.

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.

Revenue is recognised when all the risks and rewards of ownership have been transferred to the customer.

Turnover represents invoiced sales of goods.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery

-

20% on reducing balance

Fixtures and fittings

-

33% on cost

Computer equipment

-

33% on cost

The Company reviews the tangible fixed assets for impairment annually.

It is the policy of the Company to capitalise tangible fixed assets with an estimated useful life in excess of two years, and for amounts in excess of £200.

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

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 5 (2023 - 2 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

Computer

machinery

fittings

equipment

Totals

£

£

£

£

COST

At 1 January 2024

151,983

1,119

5,513

158,615

Additions

31,101

-

-

31,101

At 31 December 2024

183,084

1,119

5,513

189,716

DEPRECIATION

At 1 January 2024

54,196

1,119

5,236

60,551

Charge for year

21,631

-

248

21,879

At 31 December 2024

75,827

1,119

5,484

82,430

NET BOOK VALUE

At 31 December 2024

107,257

-

29

107,286

At 31 December 2023

97,787

-

277

98,064

5.

STOCKS

2024

2023

£

£

Stocks

271,497

199,046

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade debtors

388,769

689,679

Other debtors

41,219

29,528

Tax

21

21

Prepayments

5,875

5,823

435,884

725,051

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade creditors

122,507

734,480

Tax

62,889

113,536

Social security and other taxes

18,931

17,496

VAT

19,259

36,294

Related party loan

75,132

271,919

Directors' current accounts

131,678

1,366

Sundry Creditors

2,865

1,133

Accrued expenses

21,200

8,940

454,461

1,185,164

The heads of terms for the related party loan are;

Interest accrues at 3% per annum, and is repayable on demand.

8.	PROVISIONS FOR LIABILITIES

2024

2023

£

£

Deferred tax

25,877

23,364

Deferred

tax

£

Balance at 1 January 2024

23,364

Provided during year

2,513

Balance at 31 December 2024

25,877

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2024

2023

value:

£

£

81

Ordinary

£1

81

100

10.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

During the year the following loans subsisted;

Directors loan account 1

A member of key management personnel

During the year the Director advanced the Company £130,312 (2023: £312)

During the year the Director was repaid from the Company £Nil (2023: £Nil)

As at the year end the Company owed the Director £131,678 (2023: £1,366)

The loan is interest free and repayable upon demand.

11.	RELATED PARTY DISCLOSURES

Lindare Medical Limited - Related Party

Lindare Medical Limited is controlled by one member of key management personnel.

The related party purchased goods/services from Polar Medical amounting to £8,973 (2023: £29,770).

During the year Lindare Medical Limited advanced Polar Medical Limited £Nil (2023: £Nil).

During the year Polar Medical Limited repaid Lindare Medical Limited £200,000 (2023: £Nil).

During the year interest was charged of £3,213 (2023: £8,027).

During the year administration was charged of £50,459 (2023: £46,243).

As at the 31 December 2024, the balance owing to Lindare Medical Limited amounted to £75,132 (2023: £271,919).

The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Director are not required to be filed with the Registrar of Companies.

As described on the Balance Sheet you are responsible for the preparation of the financial statements for the year ended 31 December 2024 set out on pages one to eleven and you consider that the company is exempt from an audit.

In accordance with your instructions, we have compiled these unaudited financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and information and explanations supplied to us.

Higson & Co (Deal) Ltd

45 Queen Street

Deal

Kent

CT14 6EY

30 September 2025