Polaris Medical Services Limited,Ltd - AccountsLtd - Accounts

Polaris Medical Services Limited,Ltd - AccountsLtd - Accounts

POLARIS MEDICAL SERVICES LIMITED - Company Information

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2020-01-01 09929823 2020-12-31 09929823 2020-01-01 2020-12-31 09929823 2019-12-31 09929823 2019-01-01 2019-12-31 09929823 uk-core:WithinOneYear 2019-12-31 09929823 uk-core:WithinOneYear 2020-12-31 09929823 uk-core:AfterOneYear 2019-12-31 09929823 uk-core:AfterOneYear 2020-12-31 09929823 uk-core:ShareCapital 2020-12-31 09929823 uk-core:ShareCapital 2019-12-31 09929823 uk-core:RetainedEarningsAccumulatedLosses 2020-12-31 09929823 uk-core:RetainedEarningsAccumulatedLosses 2019-12-31 09929823 uk-bus:Director1 2020-01-01 2020-12-31 09929823 uk-bus:Director2 2020-01-01 2020-12-31 09929823 uk-core:NetGoodwill 2020-01-01 2020-12-31 09929823 uk-core:PlantMachinery 2020-01-01 2020-12-31 09929823 uk-core:CommercialMotorVehicles 2020-01-01 2020-12-31 09929823 uk-core:FurnitureFittings 2020-01-01 2020-12-31 09929823 uk-core:Goodwill 2019-12-31 09929823 uk-core:Goodwill 2020-12-31 09929823 uk-core:Goodwill 2020-01-01 2020-12-31 09929823 uk-core:FurnitureFittings 2019-12-31 09929823 uk-core:CommercialMotorVehicles 2019-12-31 09929823 uk-core:PlantMachinery 2019-12-31 09929823 uk-core:PlantMachinery 2020-12-31 09929823 uk-core:CommercialMotorVehicles 2020-12-31 09929823 uk-core:FurnitureFittings 2020-12-31 09929823 uk-core:WithinOneYear 2020-12-31 09929823 uk-core:WithinOneYear 2019-12-31 09929823 uk-core:AfterOneYear uk-core:Secured 2020-12-31 09929823 uk-core:AfterOneYear uk-core:Secured 2019-12-31 iso4217:GBP xbrli:pure 09929823 uk-bus:AuditExemptWithAccountantsReport 2020-01-01 2020-12-31 09929823 uk-bus:FRS102 2020-01-01 2020-12-31 09929823 uk-bus:FullAccounts 2020-01-01 2020-12-31 09929823 uk-bus:PrivateLimitedCompanyLtd 2020-01-01 2020-12-31
Polaris Medical Services Limited
Registered Number:09929823
For the year ended 31 December 2020
England and Wales
Management Accounts
2
For the year ended 31 December 2020
Polaris Medical Services Limited
Contents Page
1
Statement of Financial Position
2 to 5
Notes to the Financial Statements
3
Registered Number :
09929823
As at 31 December 2020
Polaris Medical Services Limited
Statement of Financial Position
£
£
2019
2020
Notes
Fixed assets
Intangible assets
127,500
135,000
2
Property, plant and equipment
716,171
376,093
3
843,671
511,093
Current assets
Inventories
285,620
754,242
4
Trade and other receivables
990,468
1,281,770
5
91,384
Cash and cash equivalents
407,836
2,443,848
1,367,472
Trade and other payables: amounts falling due within one
year
(1,212,674)
(1,596,724)
6
154,798
847,124
Net current assets
Total assets less current liabilities
1,690,795
665,891
Trade and other payables: amounts falling due after more
than one year
(190,965)
(547,800)
7
-
(9,970)
Provisions for liabilities
1,142,995
Net assets
464,956
Capital and reserves
Called up share capital
100
100
Retained earnings
1,142,895
464,856
1,142,995
464,956
Shareholders' funds
For the year ended 31 December 2020 the company was entitled to exemption from audit under Section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2020 in accordance with Section 476 of the Companies Act 2006
The directors acknowledge their responsibilities for:a) ensuring that the company keeps proper accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
b) preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of
each financial year and of its profit or loss for each financial year in accordance with the requirements of Section
394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial
statements, so far as applicable to the company.
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.
The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
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4
Registered Number :
09929823
For the year ended 31 December 2020
Polaris Medical Services Limited
Statement of Financial Position Continued
Mr Norman Henderson Director
Mr Graham Edgington Director
These financial statements were approved and authorised for issue by the Board on 03 February 2021 and were signed by:
The notes form part of these financial statements
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5
For the year ended 31 December 2020
Polaris Medical Services Limited
Notes to the Financial Statements
Statutory Information
Polaris Medical Services Limited is a private limited company, limited by shares, domiciled in England and Wales,
registration number 09929823.
Registered address:
103 Bradley House
Radcliffe Moor Road
Bolton
Lancs
BL2 6RT
The presentation currency is £ sterling.
1. Accounting policies
Basis of preparing the financial statements
These financial statements have been prepared in accordance with the provisions of Section 1A of Financial
Reporting Standard 102 ''The Financial Reporting Standard applicable in the UK and Republic of Ireland'' and the
Companies Act 2006. The financial statements have been prepared under the historical costs convention as
modified by the revaluation of certain assets.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax or other similar sales taxes.
Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 0, is being amortised evenly over its estimated useful life of 25 years.
Property, plant and equipment
Property, plant and equipment, 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:
Plant and Machinery
15% Reducing balance
25% Reducing balance
Motor Vehicles
15% Reducing balance
Furniture and Fittings
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6
For the year ended 31 December 2020
Polaris Medical Services Limited
Notes to the Financial Statements Continued
2. Intangible fixed assets
Goodwill
Cost or valuation
£
At 01 January 2020
150,000
At 31 December 2020
150,000
Amortisation
At 01 January 2020
15,000
7,500
Charge for year
At 31 December 2020
22,500
Net book value
At 31 December 2020
127,500
At 31 December 2019
135,000
3. Property, plant and equipment
Total
Furniture and
Fittings
Motor Vehicles
Plant and
Machinery
£
£
£
£
Cost or
valuation
At 01 January 2020
721,562
26,139
685,908
9,515
589,884
-
371,200
218,684
Additions
-
(105,797)
-
Disposals
(105,797)
At 31 December 2020
228,199
951,311
26,139
1,205,649
Provision for depreciation and impairment
At 01 January 2020
345,469
8,388
332,533
4,548
Charge for year
206,541
2,663
170,328
33,550
(62,532)
-
(62,532)
-
On disposal
At 31 December 2020
489,478
11,051
440,329
38,098
At 31 December 2020
Net book value
190,101
510,982
15,088
716,171
At 31 December 2019
4,967
353,375
17,751
376,093
4. Inventories
2019
2020
£
£
Stocks
754,242
285,620
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7
For the year ended 31 December 2020
Polaris Medical Services Limited
Notes to the Financial Statements Continued
5. Trade and other receivables
2019
2020
£
£
Trade debtors
848,351
732,713
Other debtors
433,419
257,755
990,468
1,281,770
6. Trade and other payables: amounts falling due within one year
2019
2020
£
£
Bank loans and overdraft
651,679
610,710
Trade creditors
428,940
282,080
Taxation and social security
226,124
38,813
Other creditors
289,981
281,071
1,596,724
1,212,674
7. Trade and other payables: amounts falling due after more than one year
2019
2020
£
£
Bank loans and overdraft
250,000
-
Other creditors
297,800
190,965
547,800
190,965
8. Average number of persons employed
During the year the average number of employees was 0 (2019 : 30)
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