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REGISTERED NUMBER: 07706592 (England and Wales)


















Unaudited Financial Statements for the Year Ended 31 December 2023

for

Positiveluxury Limited

Positiveluxury Limited (Registered number: 07706592)






Contents of the Financial Statements
for the Year Ended 31 December 2023




Page

Balance Sheet 1

Notes to the Financial Statements 3


Positiveluxury Limited (Registered number: 07706592)

Balance Sheet
31 December 2023

2023 2022
Notes £    £   
FIXED ASSETS
Intangible assets 4 206,573 151,493
Tangible assets 5 9,726 13,024
216,299 164,517

CURRENT ASSETS
Debtors 6 284,742 355,377
Cash at bank 88,784 58,940
373,526 414,317
CREDITORS
Amounts falling due within one year 7 (1,419,805 ) (1,383,861 )
NET CURRENT LIABILITIES (1,046,279 ) (969,544 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(829,980

)

(805,027

)

CREDITORS
Amounts falling due after more than one year 8 (81,062 ) (24,351 )
NET LIABILITIES (911,042 ) (829,378 )

CAPITAL AND RESERVES
Called up share capital 1,474 1,474
Share premium 9,666 9,666
Retained earnings (922,182 ) (840,518 )
(911,042 ) (829,378 )

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

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

Positiveluxury Limited (Registered number: 07706592)

Balance Sheet - continued
31 December 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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 7 August 2024 and were signed on its behalf by:





Ms A E Nelson-Bennett - Director


Positiveluxury Limited (Registered number: 07706592)

Notes to the Financial Statements
for the Year Ended 31 December 2023

1. STATUTORY INFORMATION

Positiveluxury Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 07706592

Registered office: 81 Leonard Street
London
EC2A 4QS

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.

Turnover
Turnover represents the total invoice value, excluding value added tax, of sales made during the year.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost
less any accumulated amortisation and any accumulated impairment losses.

Trademarks and licences are being amortised evenly over their estimated useful life of ten years.

Development costs are amortised on a straight line basis over 4 years in order to write off the cost less estimated residual value of the asset over its estimated useful life.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Fixtures and fittings - Straight line over 4 years
Computer equipment - Straight line over 4 years

Taxation
Taxation for the year comprises of current taxation. Tax is recognised in the Profit and Loss Account, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current 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.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

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.

Positiveluxury Limited (Registered number: 07706592)

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

2. ACCOUNTING POLICIES - continued

Going concern
The balance sheet at the end of the year recorded net current liabilities. However, the director believes that sufficient financial resources are available to the company to enable it to continue trading into the foreseeable future. Therefore, the financial statements have been prepared on a going concern basis.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 18 (2022 - 16 ) .

4. INTANGIBLE FIXED ASSETS
Trademarks Development
& licences costs Totals
£    £    £   
COST
At 1 January 2023 57,776 169,702 227,478
Additions - 121,043 121,043
At 31 December 2023 57,776 290,745 348,521
AMORTISATION
At 1 January 2023 12,749 63,236 75,985
Amortisation for year 5,777 60,186 65,963
At 31 December 2023 18,526 123,422 141,948
NET BOOK VALUE
At 31 December 2023 39,250 167,323 206,573
At 31 December 2022 45,027 106,466 151,493

Positiveluxury Limited (Registered number: 07706592)

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

5. TANGIBLE FIXED ASSETS
Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
At 1 January 2023 5,313 22,275 27,588
Additions - 2,429 2,429
Disposals - (1,632 ) (1,632 )
At 31 December 2023 5,313 23,072 28,385
DEPRECIATION
At 1 January 2023 4,646 9,918 14,564
Charge for year 222 5,097 5,319
Eliminated on disposal - (1,224 ) (1,224 )
At 31 December 2023 4,868 13,791 18,659
NET BOOK VALUE
At 31 December 2023 445 9,281 9,726
At 31 December 2022 667 12,357 13,024

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 216,234 289,377
Other debtors 68,508 66,000
284,742 355,377

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 10,648 10,648
Trade creditors 182,235 237,062
Amounts owed to related parties 341,552 495,098
Taxation and social security 26,007 37,781
Other creditors 859,363 603,272
1,419,805 1,383,861

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans 14,351 24,351
Other creditors 66,711 -
81,062 24,351