General Information
Polar Bear Supply (UK) Ltd is a private company, limited by shares, registered in England and Wales, registration number 10645781, registration address Sure Store Gallan Park, Watling Street, Cannock, WS11 0XG.
The presentation currency is £ sterling.
| 1. |
Accounting policies
Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 102 – The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the company.
Going concern basis
The directors believe that the company is experiencing good levels of sales growth and profitability, and that it is well placed to manage its business risks successfully. Accordingly, they have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus they continue to adopt the going concern basis of accounting in preparing the financial statements.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Foreign currencies
Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the rate of exchange ruling at the statement of financial position date. Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. All foreign exchange differences are included to the income statement.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
| Computer Equipment |
4 Straight Line
|
| Fixtures and Fittings |
4 Straight Line
|
| Motor Vehicles |
4 Straight Line
|
Stocks
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
Factored debts
The company includes factored debts within trade debtors since most of the risks and rewards of ownership of the factored debts have not passed to the factors. A corresponding liability is included in liabilities in respect of the proceeds received from the factor.
|
| 2. |
Average number of employees
Average number of employees during the year was 1 (2025 : 2).
|
| 3. |
Tangible fixed assets
| Cost or valuation |
Motor Vehicles |
|
Fixtures and Fittings |
|
Computer Equipment |
|
Total |
| |
£ |
|
£ |
|
£ |
|
£ |
| At 01 April 2025 |
4,167 |
|
6,815 |
|
5,405 |
|
16,387 |
| Additions |
- |
|
- |
|
- |
|
- |
| Disposals |
- |
|
- |
|
- |
|
- |
| At 31 March 2026 |
4,167 |
|
6,815 |
|
5,405 |
|
16,387 |
| Depreciation |
| At 01 April 2025 |
4,167 |
|
2,690 |
|
4,397 |
|
11,254 |
| Charge for year |
- |
|
1,568 |
|
313 |
|
1,881 |
| On disposals |
- |
|
- |
|
- |
|
- |
| At 31 March 2026 |
4,167 |
|
4,258 |
|
4,710 |
|
13,135 |
| Net book values |
| Closing balance as at 31 March 2026 |
- |
|
2,557 |
|
695 |
|
3,252 |
| Opening balance as at 01 April 2025 |
- |
|
4,125 |
|
1,008 |
|
5,133 |
|
| 4. |
Share Capital
Allotted, called up and fully paid
|
31/03/2026
£ |
|
31/03/2025
£ |
|
100
Class A shares of £1.00 each |
100 |
|
100 |
|
100 |
|
100 |
|
2
|