Polestar Cooling Limited - Period Ending 2016-12-31

Polestar Cooling Limited

Unaudited Abbreviated Accounts

for the Period from 1 November 2015 to 31 December 2016

Bolden & Long Chartered Accountants
36a Goring Road
Goring-by-Sea
Worthing
West Sussex
BN12 4AD

Polestar Cooling Limited
Contents

Accountants' Report

Abbreviated Balance Sheet

2 to 3

Notes to the Abbreviated Accounts

4 to 5

The following reproduces the text of the accountants' report in respect of the company's annual financial statements, from which the abbreviated accounts (set out on pages 2 to 5) have been prepared.

Chartered Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
Polestar Cooling Limited
for the Period Ended 31 December 2016

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Polestar Cooling Limited for the period ended 31 December 2016 set out on pages from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at icaew.com/membershandbook.

This report is made solely to the Board of Directors of Polestar Cooling Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Polestar Cooling Limited and state those matters that we have agreed to state to them, as a body, in this report in accordance with AAF 2/10 as detailed at icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Polestar Cooling Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Polestar Cooling Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Polestar Cooling Limited. You consider that Polestar Cooling Limited is exempt from the statutory audit requirement for the period.

We have not been instructed to carry out an audit or a review of the accounts of Polestar Cooling Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

......................................

Bolden & Long Chartered Accountants
36a Goring Road
Goring-by-Sea
Worthing
West Sussex
BN12 4AD

16 February 2017

Page 1

Polestar Cooling Limited
(Registration number: 04750332)
Abbreviated Balance Sheet at 31 December 2016

	Note	31 December 2016 £	31 October 2015 £
Fixed assets
Tangible fixed assets		150,496	164,234
Current assets
Stocks		379,323	448,328
Debtors		629,169	365,549
Cash at bank and in hand		665,532	543,381
		1,674,024	1,357,258
Creditors: Amounts falling due within one year		(413,663)	(324,323)
Net current assets		1,260,361	1,032,935
Total assets less current liabilities		1,410,857	1,197,169
Provisions for liabilities		(30,099)	(32,847)
Net assets		1,380,758	1,164,322
Capital and reserves
Called up share capital	3	1	1
Capital redemption reserve		1	1
Profit and loss account		1,380,756	1,164,320
Shareholders' funds		1,380,758	1,164,322

For the year ending 31 December 2016 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime .

Approved by the Board on 16 February 2017 and signed on its behalf by:

The notes on pages 4 to 5 form an integral part of these financial statements.
Page 2

Polestar Cooling Limited
(Registration number: 04750332)
Abbreviated Balance Sheet at 31 December 2016
......... continued

.........................................
PC Polack
Director

The notes on pages 4 to 5 form an integral part of these financial statements.
Page 3

Polestar Cooling Limited
Notes to the Abbreviated Accounts for the Period from 1 November 2015 to 31 December 2016
......... continued

1	Accounting policies

Basis of preparation

The full financial statements, from which these abbreviated accounts have been extracted, have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (Effective January 2015).

Turnover

Turnover represents amounts chargeable, net of value added tax, in respect of the sale of goods and services to customers.

Depreciation

Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:

Asset class	Depreciation method and rate
Plant and machinery	15% reducing balance
Motor vehicles	25% reducing balance
Office equipment	25% reducing balance

Stock

Stock is valued at the lower of cost and net realisable value, after due regard for obsolete and slow moving stocks. Net realisable value is based on selling price less anticipated costs to completion and selling costs.

Deferred tax

Deferred tax is recognised, without discounting, in respect of all timing differences between the treatment of certain items for taxation and accounting purposes, which have arisen but not reversed by the balance sheet date, except as required by the FRSSE. Deferred tax is measured at the rates that are expected to apply in the periods when the timing differences are expected to reverse, based on the tax rates and law enacted at the balance sheet date.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability in the balance sheet. The corresponding dividends relating to the liability component are charged as interest expense in the profit and loss account.

Pensions

The company makes payments to individual employees approved pension schemes. Contributions are recognised in the profit and loss account in the period in which they become payable.

Page 4

Polestar Cooling Limited
Notes to the Abbreviated Accounts for the Period from 1 November 2015 to 31 December 2016
......... continued

2	Fixed assets

	Tangible assets £	Total £
Cost
At 1 November 2015	340,062	340,062
Additions	19,311	19,311
At 31 December 2016	359,373	359,373
Depreciation
At 1 November 2015	175,828	175,828
Charge for the period	33,049	33,049
At 31 December 2016	208,877	208,877
Net book value
At 31 December 2016	150,496	150,496
At 31 October 2015	164,234	164,234

3	Share capital

Allotted, called up and fully paid shares

	31 December 2016			31 October 2015
		No.	£		No.	£
Ordinary shares of £0.01 each		100	1		100	1

Control

The company is controlled by a Director, Mr P Polack, and by Dulas Ltd, each having a 50% shareholding.

Page 5