1 false false false false false false false false false true false false false false false false No description of principal activity 2022-09-01 Sage Accounts Production Advanced 2023 - FRS102_2021 xbrli:pure xbrli:shares iso4217:GBP 04045521 2022-09-01 2023-08-31 04045521 2023-08-31 04045521 2022-08-31 04045521 2021-09-01 2022-08-31 04045521 2022-08-31 04045521 2021-08-31 04045521 core:FurnitureFittings 2022-09-01 2023-08-31 04045521 core:MotorVehicles 2022-09-01 2023-08-31 04045521 bus:LeadAgentIfApplicable 2022-09-01 2023-08-31 04045521 bus:Director1 2022-09-01 2023-08-31 04045521 core:FurnitureFittings 2022-08-31 04045521 core:FurnitureFittings 2023-08-31 04045521 core:WithinOneYear 2023-08-31 04045521 core:WithinOneYear 2022-08-31 04045521 core:ShareCapital 2023-08-31 04045521 core:ShareCapital 2022-08-31 04045521 core:RetainedEarningsAccumulatedLosses 2023-08-31 04045521 core:RetainedEarningsAccumulatedLosses 2022-08-31 04045521 bus:SmallEntities 2022-09-01 2023-08-31 04045521 bus:AuditExemptWithAccountantsReport 2022-09-01 2023-08-31 04045521 bus:FullAccounts 2022-09-01 2023-08-31 04045521 bus:SmallCompaniesRegimeForAccounts 2022-09-01 2023-08-31 04045521 bus:PrivateLimitedCompanyLtd 2022-09-01 2023-08-31 04045521 core:OfficeEquipment 2022-09-01 2023-08-31 04045521 core:OfficeEquipment 2022-08-31 04045521 core:OfficeEquipment 2023-08-31
COMPANY REGISTRATION NUMBER: 04045521
Positana Limited
Filleted Unaudited Financial Statements
31 August 2023
Positana Limited
Financial Statements
Year ended 31 August 2023
Contents
Pages
Chartered accountants report to the director on the preparation of the unaudited statutory financial statements
1
Statement of financial position
2 to 3
Notes to the financial statements
4 to 6
Positana Limited
Chartered Accountants Report to the Director on the Preparation of the Unaudited Statutory Financial Statements of Positana Limited
Year ended 31 August 2023
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Positana Limited for the year ended 31 August 2023, which comprise the statement of financial position and the related notes from the company's accounting records and from information and explanations you have given us. As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at www.icaew.com/en/membership/regulations-standards-and-guidance. This report is made solely to the director of Positana Limited. Our work has been undertaken solely to prepare for your approval the financial statements of Positana Limited and state those matters that we have agreed to state to you in this report in accordance with ICAEW Technical Release 07/16 AAF as detailed at www.icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Positana Limited and its director for our work or for this report.
It is your duty to ensure that Positana Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Positana Limited. You consider that Positana Limited is exempt from the statutory audit requirement for the year. We have not been instructed to carry out an audit or a review of the financial statements of Positana Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
HEBBLETHWAITES Chartered Accountants
2 Westbrook Court Sharrow Vale Road Sheffield S11 8YZ
12 March 2024
Positana Limited
Statement of Financial Position
31 August 2023
2023
2022
Note
£
£
Fixed assets
Tangible assets
5
585
145
Current assets
Debtors
6
76,628
619
Cash at bank and in hand
34,736
61,141
---------
--------
111,364
61,760
Creditors: amounts falling due within one year
7
18,825
4,224
---------
--------
Net current assets
92,539
57,536
--------
--------
Total assets less current liabilities
93,124
57,681
--------
--------
Net assets
93,124
57,681
--------
--------
Positana Limited
Statement of Financial Position (continued)
31 August 2023
2023
2022
Note
£
£
Capital and reserves
Called up share capital
2
2
Profit and loss account
93,122
57,679
--------
--------
Shareholder funds
93,124
57,681
--------
--------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 31 August 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 11 March 2024 , and are signed on behalf of the board by:
A J Smith
Director
Company registration number: 04045521
Positana Limited
Notes to the Financial Statements
Year ended 31 August 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 10 Ballingers, Longcot Road, Shrivenham, Oxfordshire, SN6 8FP.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax.
Income tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less ) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Fixtures and fittings
-
15% straight line
Motor vehicles
-
25% reducing balance
Computer equipment
-
25% straight line
Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 1 (2022: 1 ).
5. Tangible assets
Fixtures and fittings
Office equipment
Total
£
£
£
Cost
At 1 September 2022
7,800
8,530
16,330
Additions
780
780
-------
-------
--------
At 31 August 2023
7,800
9,310
17,110
-------
-------
--------
Depreciation
At 1 September 2022
7,800
8,385
16,185
Charge for the year
340
340
-------
-------
--------
At 31 August 2023
7,800
8,725
16,525
-------
-------
--------
Carrying amount
At 31 August 2023
585
585
-------
-------
--------
At 31 August 2022
145
145
-------
-------
--------
6. Debtors
2023
2022
£
£
Trade debtors
54,000
Other debtors
22,628
619
--------
----
76,628
619
--------
----
7. Creditors: amounts falling due within one year
2023
2022
£
£
Corporation tax
8,372
746
Social security and other taxes
8,095
Other creditors
2,358
3,478
--------
-------
18,825
4,224
--------
-------