Polar Systems Limited

Polar Systems Ltd, based in Kings Lynn, UK, is a well-established, active family business founded 39 years ago. With 46 employees and £3,863,196 in assets, it’s considered a small company, meeting two of the three criteria for classification. Five directors and four owners (though this list isn's exhaustive) guide the operation, which boasts a real address and a history dating back to April 1986.

The company's core business revolves around manufacturing and supplying food processing equipment, as evident from its website. Polar Systems designs, develops, and manufactures bespoke, turnkey solutions for a global market, with a particular focus on shellfish, snack foods, and other agricultural products. It also offers subcontract manufacturing services, including fabrication, machining, and automation. The website highlights a long-standing reputation for innovation, exemplified by inventions like the first fully automated whelk processing line. The company also exports its machinery to over 30 countries.

Financially, Polar Systems Ltd presents a mixed picture. While total assets increased by 4.2% to £3.9 million, net assets only rose slightly to £7.1 million. Cash reserves took a significant hit, dropping 78% to just £71,000. Bank borrowings increased by 40% to £180,000, and trade debtors rose by 12% to £3.5 million. Creditors, however, decreased by 18%, suggesting improved debt management. The company’s average number of employees has increased dramatically by 65% to 76, which could be a sign of growth or increased workload. The company’s auditor is not mentioned, which is likely due to its small size and exemption from an audit.

Overall, Polar Systems Ltd appears to be navigating a period of change. The increased employee count and growing debt suggest expansion, but the declining cash reserves raise concerns about liquidity. The company’s long-standing reputation and family-owned structure, however, provide a solid foundation for continued success.

Registered in England/Wales under the registration number 02015519, with a registered address at PE30 4LA, Kings Lynn, Norfolk, Old Medow Road, Hardwick Industrial Estate.

WARNING:The numbers have been rounded for simplicity and may be inaccurate.Please, refer to the latest financial report for verification.