REGISTERED NUMBER: 05348680 (England and Wales)

AUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

FOR

POLAR ELECTRO (UK) LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

Y Sprunger

E Chouhmat

REGISTERED OFFICE:

Fulford House

Newbold Terrace

Leamington Spa

Warwickshire

CV32 4EA

REGISTERED NUMBER:

05348680 (England and Wales)

AUDITORS:

TGFP

Chartered Accountants & Statutory Auditors

Fulford House

Newbold Terrace

Leamington Spa

Warwickshire

CV32 4EA

FIXED ASSETS

Tangible assets

4

1,160

1,024

CURRENT ASSETS

Debtors

5

169,691

393,980

Cash at bank

57,437

155,122

227,128

549,102

CREDITORS

Amounts falling due within one year

6

306,974

666,045

NET CURRENT LIABILITIES

(79,846

)

(116,943

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(78,686

)

(115,919

)

CAPITAL AND RESERVES

Called up and paid share capital

1

1

Retained earnings

(78,687

)

(115,920

)

(78,686

)

(115,919

)

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 Board of Directors and authorised for issue on 21 April 2026 and were signed on its behalf by:

Y Sprunger - Director

1.	STATUTORY INFORMATION

Polar Electro (UK) 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 presentation currency of the financial statements is the Pound 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.

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 group members.

Turnover

Turnover represents the value of all goods sold during the period, less returns received and an estimate of future returns, at selling price exclusive of Value Added Tax. Sales are recognised at the point at which the company has fulfilled its contractual obligations and the risks and rewards attaching to the product, such as obsolescence, have been transferred to the customer.

Tangible fixed assets

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

Fixtures and fittings

-

33% on cost and 20% on cost

Computer equipment

-

33% on cost

Financial instruments

Financial instruments are classified and accounted for as financial assets, financial liabilities or equity instruments, according to the substance of the contractual arrangement. Equity instruments are those that entitle the holder to a residual interest in the company's assets after deducting all of its liabilities.

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

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.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

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.

Defined contribution schemes

The company makes contributions to money purchase pension plans on behalf of certain employees. The contributions are charged to profit and loss as they become payable.

Going concern

The financial statements have been prepared on the going concern basis, on the understanding that the company will receive continued support from the company's ultimate parent undertaking for a period of at least 12 months from the date of these financial statements.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 8 (2024 - 8 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

and

Computer

fittings

equipment

Totals

£

£

£

COST

At 1 January 2025

1,740

12,893

14,633

Additions

-

862

862

At 31 December 2025

1,740

13,755

15,495

DEPRECIATION

At 1 January 2025

1,740

11,869

13,609

Charge for year

-

726

726

At 31 December 2025

1,740

12,595

14,335

NET BOOK VALUE

At 31 December 2025

-

1,160

1,160

At 31 December 2024

-

1,024

1,024

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

158,348

385,497

Prepayments and accrued income

11,343

8,483

169,691

393,980

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade creditors

3,619

4,395

Amounts owed to group undertakings

39,512

264,351

Tax

12,041

2,168

Social security and other taxes

15,060

13,709

VAT

130,678

200,397

Accrued expenses

106,064

181,025

306,974

666,045

7.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

2025

2024

£

£

Within one year

1,401

3,084

Between one and five years

236

-

1,637

3,084

8.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

BENJAMIN R REYNOLDS (Senior Statutory Auditor)

for and on behalf of TGFP

9.	OTHER FINANCIAL COMMITMENTS

Polar Electro Oy, the company's ultimate parent undertaking, has provided a guarantee of up to £200,000 to the company's bank in respect of the company's multiple option bank facility.

The bank balance is subject to a right set off in respect of bank balances with other group companies.

10.	PARENT COMPANY

The company's ultimate parent undertaking is Polar Electro Oy, a company incorporated in Finland, registered address Professorintie 5, FI-90440, Finland.