ACCOUNTS - Final Accounts preparation

Registered number: 14496172

POLARIS RENEWABLES LIMITED

UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 NOVEMBER 2025


POLARIS RENEWABLES LIMITED REGISTERED NUMBER:14496172

BALANCE SHEET

AS AT 30 NOVEMBER 2025

		2025		2024
Note		£		£

Fixed assets
Investments	4		741,662		1,285,332
			741,662		1,285,332
Current assets
Debtors: amounts falling due within one year	5	295,191		2,995
Cash at bank and in hand		230,378		517,075
		525,569		520,070
Creditors: amounts falling due within one year	6	(396,199)		(116,122)
Net current assets			129,370		403,948
Total assets less current liabilities			871,032		1,689,280
Creditors: amounts falling due after more than one year	7		(1,918,719)		(1,884,422)
Net liabilities			(1,047,687)		(195,142)

Capital and reserves
Called up share capital	1	1
Profit and loss account	(56,773)	40,152
Fair value reserve	(990,915)	(235,295)
	(1,047,687)	(195,142)

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POLARIS RENEWABLES LIMITED REGISTERED NUMBER:14496172

BALANCE SHEET (CONTINUED)

AS AT 30 NOVEMBER 2025

The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 27 August 2026.

G Cislaghi

Director

The notes on pages 3 to 5 form part of these financial statements.

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POLARIS RENEWABLES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 NOVEMBER 2025

1.	General information

Polaris Renewables Limited is incorporated and domiciled in England and Wales. The registered office is Harwood House, 43 Harwood Road, London, SW6 4QP.

2.Accounting policies

2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the requirements and the Companies Act 2006. 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 following principal accounting policies have been applied:

2.2

Going concern

The company continues to work on avenues for the rerating of the Westbridge stock value or the payment of dividends to accelerate the repayment of the debt. There is still support and Westbridge has good prospect of seeing pipeline assets in the remainder of the year.

In light of the above, the director is confident that the Company will continue in operational existence for the foreseeable future and that the going concern basis is therefore appropriate for the preparation of the Company's accounts.

2.3

Interest income

Interest income is recognised in profit or loss using the effective interest method.

2.4

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

2.5

Valuation of investments

Investments in listed company shares are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in profit or loss for the period.

2.6

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of
financial assets and liabilities like trade and other debtors and creditors, loans from banks and other
third parties and loans with related parties.

2.7

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

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POLARIS RENEWABLES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 NOVEMBER 2025

2.Accounting policies (continued)

2.8

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.

Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Statement of Comprehensive Income within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.

Employees

The average monthly number of employees, including directors, during the year was 1 (2024 - 1).

4.	Fixed asset investments

		Listed investments
		£
	Cost or valuation
	At 1 December 2024	1,285,332
	Additions	211,950
	Revaluations	(755,620)
	At 30 November 2025	741,662

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POLARIS RENEWABLES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 NOVEMBER 2025

Debtors

					2025	2024
					£	£


Other debtors	294,394	-
Called up share capital not paid	1	1
Prepayments and accrued income	796	2,994
	295,191	2,995

Included within other debtors due within one year is a loan to G Cislaghi amounting to £ 214,700 (2024 - £0). Amounts repaid during the year totalled £NIL.

Interest is charged on the loan at a rate of 3.75% per annum.

6.	Creditors: amounts falling due within one year
		2025	2024
		£	£

Bank overdrafts	563	-
Corporation tax	74,386	100
Accruals and deferred income	321,250	116,022
	396,199	116,122

7.	Creditors: amounts falling due after more than one year
		2025	2024
		£	£

	Amounts owed to group undertakings	1,918,719	1,884,422

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