Positive Operational Building Services Limited
Unaudited Financial Statements
For the year ended 31 July 2023
Pages for Filing with Registrar
Company Registration No. 11462407 (England and Wales)
Positive Operational Building Services Limited
Company Information
Director
P O'Sullivan
Company number
11462407
Registered office
Orbital House
20 Eastern Road
Romford
Essex
RM1 3PJ
Accountants
Moore Kingston Smith LLP
Orbital House
20 Eastern Road
Romford
Essex
RM1 3PJ
Positive Operational Building Services Limited
Contents
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 5
Positive Operational Building Services Limited
Balance Sheet
As at 31 July 2023
Page 1
2023
2022
Notes
£
£
£
£
Fixed assets
Tangible assets
3
448
442
Current assets
Debtors
4
22,078
1,191
Cash at bank and in hand
28,806
155,315
50,884
156,506
Creditors: amounts falling due within one year
5
(13,773)
(95,271)
Net current assets
37,111
61,235
Total assets less current liabilities
37,559
61,677
Creditors: amounts falling due after more than one year
6
(20,752)
(30,747)
Net assets
16,807
30,930
Capital and reserves
Called up share capital
7
1
1
Profit and loss reserves
16,806
30,929
Total equity
16,807
30,930
Positive Operational Building Services Limited
Balance Sheet (Continued)
As at 31 July 2023
Page 2
For the financial year ended 31 July 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved and signed by the director and authorised for issue on 12 April 2024
P O'Sullivan
Director
Company Registration No. 11462407
Positive Operational Building Services Limited
Notes to the Financial Statements
For the year ended 31 July 2023
Page 3
1
Accounting policies
Company information
Positive Operational Building Services Limited is a private company limited by shares incorporated in England and Wales. The registered office is Orbital House, 20 Eastern Road, Romford, Essex, RM1 3PJ.
1.1
Accounting convention
These financial statements have been prepared in accordance with Section 1A of FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Going concern
Atruet the time of approving the financial statements, the director has a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the director continues to adopt the going concern basis of accounting in preparing the financial statements.
1.3
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.
1.4
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Computers
25% straight line
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
1.5
Cash at bank and in hand
Cash at bank and in hand are basic financial assets and include cash in hand and deposits held at call with banks.
1.6
Financial instruments
The company only has basic financial instruments measured at amortised cost.
Positive Operational Building Services Limited
Notes to the Financial Statements (Continued)
For the year ended 31 July 2023
1
Accounting policies
(Continued)
Page 4
1.7
Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.
1.8
Taxation
The tax expense represents the sum of the tax currently payable.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was 2 (2022: 2).
3
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 August 2022
1,263
Additions
417
At 31 July 2023
1,680
Depreciation and impairment
At 1 August 2022
821
Depreciation charged in the year
411
At 31 July 2023
1,232
Carrying amount
At 31 July 2023
448
At 31 July 2022
442
Positive Operational Building Services Limited
Notes to the Financial Statements (Continued)
For the year ended 31 July 2023
Page 5
4
Debtors
2023
2022
Amounts falling due within one year:
£
£
Corporation tax recoverable
2,204
Other debtors
19,874
1,191
22,078
1,191
5
Creditors: amounts falling due within one year
2023
2022
£
£
Bank loans
9,994
9,747
Trade creditors
2,879
2,204
Corporation tax
16,148
Other creditors
-
66,272
Accruals and deferred income
900
900
13,773
95,271
6
Creditors: amounts falling due after more than one year
2023
2022
£
£
Bank loans and overdrafts
20,752
30,747
7
Called up share capital
2023
2022
Ordinary share capital
£
£
Issued and fully paid
100 ordinary shares of 1p each
1
1