Polaris Finance Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 06442624 (England and Wales)

ABRIDGED UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 MARCH 2021

FOR

POLARIS FINANCE LIMITED

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

Mr Mario Georgiades

SECRETARY:

Mr Mario Georgiades

REGISTERED OFFICE:

Salisbury House

81 High Street

Potters Bar

Hertfordshire

EN6 5AS

REGISTERED NUMBER:

06442624 (England and Wales)

CURRENT ASSETS

Debtors

68,846

59,602

Cash at bank

2,503

11,452

71,349

71,054

CREDITORS

Amounts falling due within one year

178

640

NET CURRENT ASSETS

71,171

70,414

TOTAL ASSETS LESS CURRENT LIABILITIES

71,171

70,414

CREDITORS

Amounts falling due after more than one year

43,754

43,754

NET ASSETS

27,417

26,660

CAPITAL AND RESERVES

Called up share capital

5

12,500

12,500

Retained earnings

14,917

14,160

SHAREHOLDERS' FUNDS

27,417

26,660

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 March 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 March 2021 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:

(a)	ensuring that the company keeps 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 Sections 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.

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

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 30 March 2021 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 29 March 2022 and were signed by:

Mr Mario Georgiades - Director

1.	STATUTORY INFORMATION

Polaris Finance Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	STATEMENT OF COMPLIANCE

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared under the historical cost convention.

Going concern

The accounts have been prepared on a going concern basis.

The director is aware however of material uncertainties that cast doubt on the company's ability to continue as a going concern. As with most businesses, these material uncertainties are in relation to the ongoing Covid-19 virus outbreak which has had an impact on the operations, customers and suppliers. The director has (where appropriate) utilised the grants and benefits available from the government and are taking all the steps he can to protect the future of the business.

Turnover

Turnover represents interest receivable on lending of own funds, and fees and commissions receivable on the provision of finance and leasing services.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2020 - 1 ) .

5.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2021

2020

value:

£

£

12,500

Ordinary

£1

12,500

12,500

6.	CONTROLLING PARTY