Polar Pumps Limited - Accounts to registrar (filleted) - small 17.3

Polar Pumps Limited - Accounts to registrar (filleted) - small 17.3


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REGISTERED NUMBER: 00883120 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2017

FOR

POLAR PUMPS LIMITED

POLAR PUMPS LIMITED (REGISTERED NUMBER: 00883120)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2017




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


POLAR PUMPS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 OCTOBER 2017







DIRECTORS: W J B Choppin
B J Choppin
P White





SECRETARY: B J Choppin





REGISTERED OFFICE: Brunel Close
Brunel Industrial Estate
Blyth Road Harworth
DONCASTER
DN11 8QA





REGISTERED NUMBER: 00883120 (England and Wales)

POLAR PUMPS LIMITED (REGISTERED NUMBER: 00883120)

BALANCE SHEET
31 OCTOBER 2017

2017 2016
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 534,806 502,083
Investments 5 - -
Investment property 6 315,000 305,481
849,806 807,564

CURRENT ASSETS
Stocks 500 500
Debtors 7 45,271 46,524
Cash at bank and in hand 437,915 391,778
483,686 438,802
CREDITORS
Amounts falling due within one year 8 58,575 59,159
NET CURRENT ASSETS 425,111 379,643
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,274,917

1,187,207

PROVISIONS FOR LIABILITIES 1,359 16,988
NET ASSETS 1,273,558 1,170,219

CAPITAL AND RESERVES
Called up share capital 1,000 1,000
Fair value reserve 9 9,519 -
Retained earnings 9 1,263,039 1,169,219
SHAREHOLDERS' FUNDS 1,273,558 1,170,219

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2017 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

POLAR PUMPS LIMITED (REGISTERED NUMBER: 00883120)

BALANCE SHEET - continued
31 OCTOBER 2017


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 Board of Directors on 15 February 2018 and were signed on its behalf by:





B J Choppin - Director


POLAR PUMPS LIMITED (REGISTERED NUMBER: 00883120)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2017

1. STATUTORY INFORMATION

Polar Pumps 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. ACCOUNTING POLICIES

Basis of preparing the financial statements
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. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates,
value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - 4% on cost
Plant and machinery - 25% on reducing balance
Motor vehicles - 25% on reducing balance

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in
fair value is recognised in profit or loss.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow
moving items.

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.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance
sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from
those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that
have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the
timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they
will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension
scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2016 - 4 ) .

POLAR PUMPS LIMITED (REGISTERED NUMBER: 00883120)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 OCTOBER 2017

4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 November 2016 605,229 268,981 874,210
Additions 64,615 3,659 68,274
At 31 October 2017 669,844 272,640 942,484
DEPRECIATION
At 1 November 2016 188,087 184,040 372,127
Charge for year 13,397 22,154 35,551
At 31 October 2017 201,484 206,194 407,678
NET BOOK VALUE
At 31 October 2017 468,360 66,446 534,806
At 31 October 2016 417,142 84,941 502,083

5. FIXED ASSET INVESTMENTS
Other
investments
£   
COST
At 1 November 2016 19,998
Disposals (19,998 )
At 31 October 2017 -
PROVISIONS
At 1 November 2016 19,998

Eliminated on disposal (19,998 )
At 31 October 2017 -
NET BOOK VALUE
At 31 October 2017 -
At 31 October 2016 -

6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 November 2016 305,481
Revaluations 9,519
At 31 October 2017 315,000
NET BOOK VALUE
At 31 October 2017 315,000
At 31 October 2016 305,481

POLAR PUMPS LIMITED (REGISTERED NUMBER: 00883120)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 OCTOBER 2017

6. INVESTMENT PROPERTY - continued

Fair value at 31 October 2017 is represented by:

£   
Valuation in 2017 315,000

If investment properties had not been revalued they would have been included at the following historical cost:

2017 2016
£    £   
Cost 305,481 305,481

Investment properties were valued on an open market basis on 31 October 2017 by the directors .

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2017 2016
£    £   
Trade debtors 40,828 44,140
Prepayments 4,443 2,384
45,271 46,524

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2017 2016
£    £   
Trade creditors 10,618 21,148
Tax 25,274 18,681
Social security and other taxes 6,960 8,004
VAT 12,373 8,352
Pension control 376 -
Directors' current accounts 774 774
Accrued expenses 2,200 2,200
58,575 59,159

9. RESERVES
Fair
Retained value
earnings reserve Totals
£    £    £   

At 1 November 2016 1,169,219 - 1,169,219
Profit for the year 103,339 103,339
Fair value movement in year (9,519 ) 9,519 -
At 31 October 2017 1,263,039 9,519 1,272,558