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REGISTERED NUMBER: 05973218 (England and Wales)















Unaudited Financial Statements for the Year Ended 31st October 2023

for

POSITIVE GROUND LIMITED

POSITIVE GROUND LIMITED (REGISTERED NUMBER: 05973218)

Contents of the Financial Statements
for the Year Ended 31st October 2023










Page

Company Information 1

Chartered Accountants' Report 2

Balance Sheet 3

Notes to the Financial Statements 5


POSITIVE GROUND LIMITED

Company Information
for the Year Ended 31st October 2023







DIRECTORS: Mr C Patton
Mrs S Reynolds





SECRETARY: Hayward Wright Limited





REGISTERED OFFICE: 4 Clews Road
Redditch
Worcestershire
B98 7ST





REGISTERED NUMBER: 05973218 (England and Wales)





ACCOUNTANTS: Hayward Wright Ltd
4 Clews Road
Redditch
Worcestershire
B98 7ST

Chartered Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
Positive Ground Limited


The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Positive Ground Limited for the year ended 31st October 2023 which comprise the Statement of Income and Retained Earnings, Balance Sheet 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 within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Positive Ground Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Positive Ground Limited and state those matters that we have agreed to state to the Board of Directors of Positive Ground Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Positive Ground Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Positive Ground 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 loss of Positive Ground Limited. You consider that Positive Ground 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 Positive Ground 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.






Hayward Wright Ltd
4 Clews Road
Redditch
Worcestershire
B98 7ST


25th July 2024

POSITIVE GROUND LIMITED (REGISTERED NUMBER: 05973218)

Balance Sheet
31st October 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 845 2,064

CURRENT ASSETS
Debtors 5 1,887 2,058
Cash at bank and in hand 30,320 31,243
32,207 33,301
CREDITORS
Amounts falling due within one year 6 4,396 5,698
NET CURRENT ASSETS 27,811 27,603
TOTAL ASSETS LESS CURRENT LIABILITIES 28,656 29,667

PROVISIONS FOR LIABILITIES 7 161 392
NET ASSETS 28,495 29,275

CAPITAL AND RESERVES
Called up share capital 8 100 100
Retained earnings 28,395 29,175
SHAREHOLDERS' FUNDS 28,495 29,275

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st October 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st October 2023 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.

POSITIVE GROUND LIMITED (REGISTERED NUMBER: 05973218)

Balance Sheet - continued
31st October 2023


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 25th July 2024 and were signed on its behalf by:





Mrs S Reynolds - Director


POSITIVE GROUND LIMITED (REGISTERED NUMBER: 05973218)

Notes to the Financial Statements
for the Year Ended 31st October 2023


1. STATUTORY INFORMATION

Positive Ground 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 Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

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.
Fixtures and fittings - 25% on reducing balance

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 (2022 - 4 ) .

POSITIVE GROUND LIMITED (REGISTERED NUMBER: 05973218)

Notes to the Financial Statements - continued
for the Year Ended 31st October 2023


4. TANGIBLE FIXED ASSETS
Fixtures
and
fittings
£   
COST
At 1st November 2022
and 31st October 2023 13,387
DEPRECIATION
At 1st November 2022 11,323
Charge for year 1,219
At 31st October 2023 12,542
NET BOOK VALUE
At 31st October 2023 845
At 31st October 2022 2,064

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 1,043 1,045
Other debtors 201 526
Prepayments 643 487
1,887 2,058

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts - 64
Trade creditors 566 812
Tax (668 ) 704
Social security and other taxes 615 486
VAT 2,423 2,363
Other creditors 280 156
Accrued expenses 1,180 1,113
4,396 5,698

7. PROVISIONS FOR LIABILITIES
2023 2022
£    £   
Deferred tax
Accelerated capital allowances 161 392

POSITIVE GROUND LIMITED (REGISTERED NUMBER: 05973218)

Notes to the Financial Statements - continued
for the Year Ended 31st October 2023


7. PROVISIONS FOR LIABILITIES - continued

Deferred
tax
£   
Balance at 1st November 2022 392
Provided during year (231 )
Balance at 31st October 2023 161

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
100 Ordinary £1 100 100

9. ULTIMATE CONTROLLING PARTY

During the period there was no ultimate controlling party.