| POLARIS VENTURES LTD |
| Registered number: |
04338920 |
| Balance Sheet |
| as at 31 March 2026 |
|
| Notes |
|
|
2026 |
|
|
2025 |
| £ |
£ |
| Fixed assets |
| Tangible assets |
3 |
|
|
5,016,857 |
|
|
6,216,215 |
|
| Current assets |
| Debtors |
5 |
|
34,317 |
|
|
39,023 |
| Cash at bank and in hand |
|
|
85,378 |
|
|
32,334 |
|
|
|
119,695 |
|
|
71,357 |
|
| Creditors: amounts falling due within one year |
6 |
|
(114,241) |
|
|
(215,809) |
|
| Net current assets/(liabilities) |
|
|
|
5,454 |
|
|
(144,452) |
| Total assets less current liabilities |
|
|
|
5,022,311 |
|
|
6,071,763 |
|
|
| Provisions for liabilities (deferred tax) |
|
|
|
(752,109) |
|
|
(1,051,949) |
|
| Net assets |
|
|
|
4,270,202 |
|
|
5,019,814 |
|
|
|
|
|
|
|
|
| Capital and reserves |
| Called up share capital |
|
|
|
99 |
|
|
99 |
| Revaluation reserve |
8 |
|
|
2,256,327 |
|
|
3,155,845 |
| Profit and loss account |
|
|
|
2,013,776 |
|
|
1,863,870 |
|
| Shareholders' funds |
|
|
|
4,270,202 |
|
|
5,019,814 |
|
|
|
|
|
|
|
|
| The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006. |
| The members have not required the company to obtain an audit in accordance with section 476 of the Act. |
| The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. |
| The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies. |
|
|
|
| Dilip Magecha |
| Director |
| Approved by the board on 30 June 2026 |
|
| POLARIS VENTURES LTD |
| Notes to the Accounts |
| for the year ended 31 March 2026 |
|
|
| 1 |
Accounting policies |
|
|
Basis of preparation |
|
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
The company has taken advantage of the exemption under section 399 of the Companies Act 2006 not to prepare consolidated accounts, on the basis that the group of which this is the parent qualifies as a small group. The financial statements present information about the company as an individual entity and not about its group. |
|
|
Turnover |
|
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. |
|
|
Going concern basis |
|
The accounts have been prepared on a going concern basis assuming continuing financial support by the bankers and for the company to negotiate an extension of the loan or a new facility. |
|
|
Tangible fixed assets |
|
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows: |
|
|
Freehold buildings |
See below |
|
Leasehold land and buildings |
See below |
|
Plant and machinery |
over 4 years |
|
|
Freehold and leasehold buildings are investment properties are included at fair value. Gains are recognised in the income statement. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.
No depreciation or amortisation is provided as the properties are valued on a fair value basis. |
|
|
Investments |
|
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account. |
|
|
Taxation |
|
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. 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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted. |
|
|
| 2 |
Employees |
2026 |
|
2025 |
| Number |
Number |
|
|
Average number of persons employed by the company |
1 |
|
1 |
|
|
|
|
|
|
|
|
|
|
| 3 |
Tangible fixed assets |
|
|
|
|
|
|
|
|
Land and buildings |
| £ |
|
Cost |
|
At 1 April 2025 |
6,216,215 |
|
Revaluation adjustment |
(1,199,358) |
|
At 31 March 2026 |
5,016,857 |
|
|
|
|
|
|
|
|
|
|
Depreciation |
|
At 31 March 2026 |
- |
|
|
|
|
|
|
|
|
|
|
Net book value |
|
At 31 March 2026 |
5,016,857 |
|
At 31 March 2025 |
6,216,215 |
|
|
|
|
|
|
|
|
|
|
|
Freehold land and buildings: |
2026 |
|
2025 |
| £ |
£ |
|
Historical cost |
2,008,422 |
|
2,008,422 |
|
Cumulative depreciation based on historical cost |
- |
|
- |
|
|
|
|
|
|
2,008,422 |
|
2,008,422 |
|
The properties are secured against the bank loan. The properties are investment properties and they have been revalued based on valuation by the director. The historical cost is made up of £1,876,123 for freeholds and £132,299 for leasehold. |
|
|
| 4 |
Investments |
| Investments in |
| subsidiary |
| undertakings |
| £ |
|
Cost |
|
At 1 April 2025 |
51,650 |
|
Revaluation |
(51,650) |
|
|
At 31 March 2026 |
- |
|
|
The company holds 20% or more of the share capital of the following companies: |
|
| Capital and |
Profit (loss) |
|
Company |
Shares held |
reserves |
for the year |
|
|
Class |
% |
£ |
£ |
|
SSSS Investments 3 Ltd |
Ordinary |
100 |
|
400 |
|
- |
|
|
|
|
|
|
|
|
|
|
| 5 |
Debtors |
2026 |
|
2025 |
| £ |
£ |
|
|
Trade debtors |
33,973 |
|
39,023 |
|
Other debtors |
344 |
|
- |
|
|
|
|
|
|
34,317 |
|
39,023 |
|
|
|
|
|
|
|
|
|
|
| 6 |
Creditors: amounts falling due within one year |
2026 |
|
2025 |
| £ |
£ |
|
|
Bank loans and overdrafts |
- |
|
110,726 |
|
Corporation tax |
|
|
|
|
75,968 |
|
67,707 |
|
Other creditors |
35,843 |
|
34,946 |
|
Accruals |
2,430 |
|
2,430 |
|
|
|
|
|
|
114,241 |
|
215,809 |
|
|
|
|
|
|
|
|
|
|
| 7 |
Loans |
2026 |
|
2025 |
| £ |
£ |
|
Creditors include: |
|
|
Secured bank loans |
- |
|
110,726 |
|
|
|
|
|
|
|
|
|
|
|
| 8 |
Fair value reserve |
2026 |
|
2025 |
| £ |
£ |
|
|
At 1 April 2025 |
3,155,845 |
|
2,792,620 |
|
Revaluation movement (net of deferred tax provision) |
(899,518) |
|
363,225 |
|
|
At 31 March 2026 |
2,256,327 |
|
3,155,845 |
|
|
|
|
|
|
|
|
|
|
Deferrred tax provision has also been accounts at a rate of 25% (2025: 25%). |
|
| 9 |
Other information |
|
|
POLARIS VENTURES LTD is a private company limited by shares and incorporated in England. Its registered office is: |
|
8 Nursery Gardens |
|
Chipperfield |
|
Kings Langley |
|
Hertfordshire |
|
WD4 9FA |