Polaris Finance Limited - Accounts to registrar - small 17.2

REGISTERED NUMBER: 06442624 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2017

FOR

POLARIS FINANCE LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

Mr M Georgiades

SECRETARY:

Mr M Georgiades

REGISTERED OFFICE:

Salisbury House

81 High Street

Potters Bar

Hertfordshire

EN6 5AS

REGISTERED NUMBER:

06442624 (England and Wales)

CURRENT ASSETS

Debtors

4

90,501

56,018

Cash at bank

-

10,447

90,501

66,465

CREDITORS

Amounts falling due within one year

5

3,721

909

NET CURRENT ASSETS

86,780

65,556

TOTAL ASSETS LESS CURRENT LIABILITIES

86,780

65,556

CREDITORS

Amounts falling due after more than one year

6

65,354

49,354

NET ASSETS

21,426

16,202

CAPITAL AND RESERVES

Called up share capital

7

12,500

12,500

Retained earnings

8,926

3,702

SHAREHOLDERS' FUNDS

21,426

16,202

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2017 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 of Part 15 of the Companies Act 2006 relating to small companies.

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 on 23 June 2017 and were signed by:

Mr M 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.

2.	STATEMENT OF COMPLIANCE

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

These financial statements for the year ended 31 March 2017 are the first financial statements of Polaris Finance

Limited that comply with the provisions of Section 1A of FRS 102. The date of transition to FRS 102 is 1 April

2015.

The transition to FRS 102 has not resulted in any changes in accounting policies compared to those used

previously.

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.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Trade debtors

90,501

56,018

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Bank loans and overdrafts

2,415

-

Taxation

1,306

909

3,721

909

6.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2017

2016

£

£

Shareholders' Loan

18,750

18,750

Director's loan account

46,604

30,604

65,354

49,354

7.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2017

2016

value:

£

£

12,500

Ordinary

£1

12,500

12,500

8.	CONTROLLING PARTY