Posetiv Cloud Ltd Filleted Accounts Cover
Posetiv Cloud Ltd
Company No. 11815224
Information for Filing with The Registrar
For the Year Ended
29 February 2024
Posetiv Cloud Ltd Balance Sheet Registrar
at
29 February 2024
As restated
Company No.
11815224
Notes
2024
2023
£
£
Fixed assets
Intangible assets
4
44,06616,813
Tangible assets
5
1,5541,202
45,62018,015
Current assets
Debtors
6
53,47596,647
Cash at bank and in hand
102,36856,272
155,843152,919
Creditors: Amount falling due within one year
7
(103,085)
(105,148)
Net current assets
52,75847,771
Total assets less current liabilities
98,37865,786
Provisions for liabilities
Deferred taxation
(295)
-
Net assets
98,08365,786
Capital and reserves
Called up share capital
8
100100
Profit and loss account
9
97,98365,686
Total equity
98,08365,786
These accounts have been prepared in accordance with the special provisions applicable to companies subject to the small companies regime of the Companies Act 2006.
For the year ended 29 February 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 Companies Act 2006 with respect to accounting records and the preparation of accounts.
As permitted by section 444 (5A)of the Companies Act 2006 the directors have not delivered to the Registrar a copy of the company's profit and loss account.
Approved by the board on 19 August 2024 and signed on its behalf by:
M.S. Butcher
Director
19 August 2024
Posetiv Cloud Ltd Notes to the Accounts Registrar
for the year ended 29 February 2024
1
General information
Posetiv Cloud Ltd is a private company limited by shares and incorporated in England and Wales.
Its registered number is: 11815224
Its registered office is:
15 South Grove
Fleet
GU51 2TU
The accounts have been prepared in accordance with FRS 102 Section 1A - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
The functional and presentational currency of the company is Sterling. The accounts are rounded to the nearest pound.
2
Accounting policies
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
Intangible fixed assets
The cryptocurrency asset has been valued at market price. Any increase in the valuation is recognised in other comprehensive income and accumulated in equity. Revaluation gains are recognised in the profit or loss to the extent that the gain is reversing a previous revaluation decrease of the same asset previously recognised in profit or loss.
Revaluation decreases are recognised in other comprehensive income to the extent of a surplus in respect of that asset. Any excess revaluation decrease is recognised in profit or loss.
Tangible fixed assets and depreciation
Tangible fixed assets held for the company's own use are stated at cost less accumulated depreciation and accumulated impairment losses.

At each balance sheet date, the company reviews the carrying amount of its tangible fixed assets to determine whether there is any indication that any items have suffered an impairment loss. If any such indication exists, the recoverable amount of an asset is estimated in order to determine the extent of the impairment loss.
Depreciation is provided at the following annual rates in order to write off the cost or valuation less the estimated residual value of each asset over its estimated useful life:
Plant and machinery
25% Straight Line
Furniture, fittings and equipment
25% Straight Line
Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.

The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the profit and loss account because of items of income or expense that are taxable or deductible in other years and 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 end of the reporting period.

Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable temporary differences. Deferred tax assets are generally recognised for all deductible timing differences to the extent that it is probable that taxable profits will be available against which those deductible temporary differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.

Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period.

Current or deferred tax for the year is recognised in profit or loss, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
Trade and other debtors
Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method, less impairment losses for bad and doubtful debts.
Cash and cash equivalents
Cash is represented by cash in hand and deposits with financial institutions repayable without penalty or notice of not more than 24 hours.
Trade and other creditors
Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.
Dividend
Equity dividends are recognised when they become legally payable. Interim equity dividends are
recognised when paid. Final equity dividends are recognised when approved by the shareholders at the Annual General Meeting.
Foreign currencies
The functional and presentational currency of the company is Sterling. The accounts are rounded to the nearest pound.
Transactions in currencies, other than the functional currency of the Company, are recorded at the rate of exchange on the date the transaction occurred. Monetary items denominated in other currencies are translated at the rate prevailing at the end of the reporting period. all differences are taken to the profit and loss account. Non-monetary items that are measured at historic cost in a foreign currency are not retranslated.
Provisions
Provisions are made where an event has taken place that gives the Company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.

Provisions are charged as an expense to the profit and loss account in the year that the Company becomes aware of the obligation, and are measured at the best estimate at balance sheet date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.

When payments are eventually made, they are charged to the provision carried in the balance sheet.
3
Employees
2024
2023
Number
Number
The average monthly number of employees (including directors) during the year was:
21
4
Intangible fixed assets
Other
Total
£
£
Cost
At 1 March 2023
44,20144,201
At 29 February 2024
44,20144,201
Amortisation and impairment
At 1 March 2023
27,38827,388
Impairment loss/(Gain)
(27,253)
(27,253)
At 29 February 2024
135135
Net book values
At 29 February 2024
44,06644,066
At 28 February 2023
16,81316,813
5
Tangible fixed assets
Plant and machinery
Fixtures, fittings and equipment
Total
£
£
£
Cost or revaluation
At 1 March 2023
1,1323,2814,413
Additions
-1,5201,520
At 29 February 2024
1,1324,8015,933
Depreciation
At 1 March 2023
4812,7303,211
Charge for the year
2838851,168
At 29 February 2024
7643,6154,379
Net book values
At 29 February 2024
3681,1861,554
At 28 February 2023
651
551
1,202
6
Debtors
2024
2023
£
£
Trade debtors
53,47562,429
Deferred tax asset
-5,204
VAT recoverable
-29,014
53,47596,647
7
Creditors:
amounts falling due within one year
2024
2023
£
£
Trade creditors
48,92493,945
Taxes and social security
33,452
4,715
Loans from directors
18,3765
Other creditors
1,6086,108
Accruals and deferred income
725375
103,085105,148
8
Share Capital
Share capital includes following:
2024
2023
£
£
100 ordinary shares of £1 each
100
100
100
100
9
Reserves
Profit and loss account - includes all current and prior period retained profits and losses.
10
Related party transactions
At the Balance Sheet date the company owed £13,876 (2023 : £5) to the directors.
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