Polar Helicopters Limited Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: 07054324

POLAR HELICOPTERS LIMITED

FILLETED UNAUDITED ABRIDGED FINANCIAL STATEMENTS

31 October 2025

POLAR HELICOPTERS LIMITED

ABRIDGED STATEMENT OF FINANCIAL POSITION

31 October 2025

	2025		2024
Note	£	£	£

FIXED ASSETS

Intangible assets	5	15,680	–
Tangible assets	6	247,845	8,250
		----------	-------
		263,525	8,250

CURRENT ASSETS

Stocks	282,248	264,441
Debtors	19,857	103,397
Cash at bank and in hand	68,329	29,049
	----------	----------
	370,434	396,887

CREDITORS: amounts falling due within one year	137,399		243,748
	----------		----------
NET CURRENT ASSETS		233,035	153,139
		----------	----------
TOTAL ASSETS LESS CURRENT LIABILITIES		496,560	161,389

CREDITORS: amounts falling due after more than one year	794,583	459,962
	----------	----------
NET LIABILITIES	( 298,023)	( 298,573)
	----------	----------

CAPITAL AND RESERVES

Called up share capital	100,000	100,000
Profit and loss account	( 398,023)	( 398,573)
	----------	----------
SHAREHOLDERS DEFICIT	( 298,023)	( 298,573)
	----------	----------

These abridged financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the abridged statement of income and retained earnings has not been delivered.

For the year ending 31 October 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

- The members have not required the company to obtain an audit of its abridged financial statements for the year in question in accordance with section 476 ;

- The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of abridged financial statements .

POLAR HELICOPTERS LIMITED

ABRIDGED STATEMENT OF FINANCIAL POSITION (continued)

31 October 2025

All of the members have consented to the preparation of the abridged statement of income and retained earnings and the abridged statement of financial position for the year ending 31 October 2025 in accordance with Section 444(2A) of the Companies Act 2006.

These abridged financial statements were approved by the board of directors and authorised for issue on 3 March 2026 , and are signed on behalf of the board by:

Ms J H Garrioch
Director

Company registration number: 07054324

POLAR HELICOPTERS LIMITED

NOTES TO THE ABRIDGED FINANCIAL STATEMENTS

YEAR ENDED 31 OCTOBER 2025

1. GENERAL INFORMATION

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Hangar 10, Kent International Airport, Manston, Kent, CT12 5FF.

2. STATEMENT OF COMPLIANCE

These abridged financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. ACCOUNTING POLICIES

Basis of Preparation

The Company is supported by the Directors and this is expected to continue for the foreseeable future. As a result going concern basis of accounting has been adopted.

Revenue Recognition

Turnover represents revenue recognised by the company in respect of goods and services supplied during the year, exclusive of Value Added Tax and trade discounts.

Goodwill

Goodwill is the difference between amounts paid on the acquisition of business and the fair value of the identifiable assets and liabilities. It is amortised to the Profit and Loss account over its estimated useful life.

Amortisation

Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:

	Goodwill	-	10% straight line

If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.

Tangible Assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Plant and Machinery	-	25 % straight line
Equipment - Helicopters	-	20% straight line

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.

Defined Contribution Plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.

4. EMPLOYEE NUMBERS

The average number of persons employed by the company during the year amounted to 2 (2024: 2 ).

5. INTANGIBLE ASSETS

	£
Cost
At 1 November 2024	72,355
Additions	17,422
	---------
At 31 October 2025	89,777
	---------
Amortisation
At 1 November 2024	72,355
Charge for the year	1,742
	---------
At 31 October 2025	74,097
	---------
Carrying amount
At 31 October 2025	15,680
	---------
At 31 October 2024	–
	---------

6. TANGIBLE ASSETS

	£
Cost
At 1 November 2024	560,733
Additions	295,877
	----------
At 31 October 2025	856,610
	----------
Depreciation
At 1 November 2024	552,483
Charge for the year	56,282
	----------
At 31 October 2025	608,765
	----------
Carrying amount
At 31 October 2025	247,845
	----------
At 31 October 2024	8,250
	----------

7. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

During the year the director entered into the following advances and credits with the company:

	Balance brought forward and outstanding
	2025	2024
	£	£
Ms J H Garrioch	( 24,170)	( 24,170)
	---------	---------

8. RELATED PARTY TRANSACTIONS

The company was under the control of Ms J H Garrioch throughout the current and previous year. Mrs J H Garrioch is the managing director and majority shareholder.