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Company Registration No. 13448262 (England and Wales)
Possibility Squared Limited Unaudited accounts for the year ended 30 June 2024
Possibility Squared Limited Unaudited accounts Contents
Page
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Possibility Squared Limited Company Information for the year ended 30 June 2024
Directors
S A Tattersfield C M Tattersfield
Company Number
13448262 (England and Wales)
Registered Office
71-75 Shelton Street Covent Garden London WC2H 9JQ England
Accountants
TaxSense Accountants Ltd 203 West Street Fareham Hants PO16 0EN
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Possibility Squared Limited Accountants' report
Accountants' report to the board of directors of Possibility Squared Limited on the preparation of the unaudited statutory accounts for the year ended 30 June 2024
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Possibility Squared Limited for the year ended 30 June 2024 as set out on pages 5 - 7 from the company's accounting records and from information and explanations you have given us.
This report is made solely to the Board of Directors of Possibility Squared Limited, as a body, in accordance with the terms of our engagement. Our work has been undertaken solely to prepare for your approval the accounts of Possibility Squared Limited and state those matters that we have agreed to state to them, as a body, in this report. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Possibility Squared Limited and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that Possibility Squared Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Possibility Squared Limited. You consider that Possibility Squared 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 accounts of Possibility Squared 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 accounts.
TaxSense Accountants Ltd 203 West Street Fareham Hants PO16 0EN 5 August 2024
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Possibility Squared Limited Statement of financial position as at 30 June 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Tangible assets
2,553 
2,228 
Current assets
Debtors
18,013 
4,875 
Cash at bank and in hand
83,457 
53,571 
101,470 
58,446 
Creditors: amounts falling due within one year
(95,604)
(53,984)
Net current assets
5,866 
4,462 
Net assets
8,419 
6,690 
Capital and reserves
Called up share capital
1 
1 
Profit and loss account
8,418 
6,689 
Shareholders' funds
8,419 
6,690 
For the year ending 30 June 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 5 August 2024 and were signed on its behalf by
S A Tattersfield Director Company Registration No. 13448262
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Possibility Squared Limited Notes to the Accounts for the year ended 30 June 2024
1
Statutory information
Possibility Squared Limited is a private company, limited by shares, registered in England and Wales, registration number 13448262. The registered office is 71-75 Shelton Street, Covent Garden, London, WC2H 9JQ, England.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Computer equipment
33% straight line method
4
Tangible fixed assets
Computer equipment 
£ 
Cost or valuation
At cost 
At 1 July 2023
2,633 
Additions
1,199 
At 30 June 2024
3,832 
Depreciation
At 1 July 2023
405 
Charge for the year
874 
At 30 June 2024
1,279 
Net book value
At 30 June 2024
2,553 
At 30 June 2023
2,228 
5
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
Trade debtors
17,612 
4,699 
Accrued income and prepayments
401 
176 
18,013 
4,875 
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Possibility Squared Limited Notes to the Accounts for the year ended 30 June 2024
6
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
VAT
4,653 
2,937 
Trade creditors
1,450 
- 
Taxes and social security
495 
659 
Loans from directors
7,520 
12,966 
Accruals
81,486 
37,422 
95,604 
53,984 
7
Loans to directors
Brought Forward 
Advance/ credit 
Repaid 
Carried Forward 
£ 
£ 
£ 
£ 
S A Tattersfield
Director Loan Account
(12,966)
(1,908)
(7,354)
(7,520)
(12,966)
(1,908)
(7,354)
(7,520)
8
Average number of employees
During the year the average number of employees was 1 (2023: 1).
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