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Registered Number: 08014018
England and Wales

 

 

 


Unaudited Financial Statements

for the year ended 31 March 2024

for

POSITANO TRADING LIMITED

Directors Mr F Terracciano
Mr C Banciu
Mr S Passavanti
Registered Number 08014018
Registered Office 3 Park Court
Pyrford Road
West Byfleet
Surrey
KT14 6SD
Accountants Sole Associates SVR Ltd
3 Park Court
Pyrford Road
West Byfleet
Surrey
KT14 6SD
1
Director's report and financial statements
The directors present his/her/their annual report and the financial statements for the year ended 31 March 2024.
Principal activities
Principal activity of the company during the financial year was that of a restaurant 
Directors
The directors who served the company throughout the year were as follows:
Mr F Terracciano
Mr C Banciu
Mr S Passavanti
Statement of directors' responsibilities
The directors are responsible for preparing the directors' report and the financial statements in accordance with applicable law and regulations and in accordance with United Kingdom Generally Accepted Accounting Practice.
Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (Financial Reporting Standard 102). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and the profit or loss of the company for that period.
In preparing these financial statements, the directors are required to :
  • select suitable accounting policies and then apply them consistently
  • make judgements and accounting estimates that are reasonable and prudent
  • state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements and
  • prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.
The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company’s transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. The directors are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
The directors are responsible for the maintenance and integrity of the corporate and financial information included on the company's website. Legislation in the United Kingdom, governing the preparation and dissemination of financial statements, may differ from legislation in other jurisdictions

This report was approved by the board and signed on its behalf by:


----------------------------------
Mr F Terracciano
Director

Date approved: 18 September 2024
2
In order to assist you to fulfil your duties under Companies Act 2006, we have prepared for your approval the accounts of Positano Trading Limited for the year ended 31 March 2024 which comprise the Income Statement, the Statement of Financial Position and related notes from the company's accounting records and from information and explanations you have given us.

As a practising member of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://rulebook.accaglobal.com.

This report is made solely to the member of Positano Trading Limited, as a body, in accordance with the terms of our engagement letter dated 18 September 2024. Our work has been undertaken solely to prepare for your approval the accounts of Positano Trading Limited and state those matters that we have agreed to state to the Board ofs of Positano Trading Limited, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants and as detailed at http://www.accaglobal.com/factsheet163. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Positano Trading Limited and its members as a body for our work or for this report.

It is your duty to ensure that Positano Trading 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 Positano Trading Limited. You consider that Positano Trading 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 Positano Trading 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.



....................................................
Sole Associates SVR Ltd
3 Park Court
Pyrford Road
West Byfleet
Surrey
KT14 6SD
18 September 2024
3
 
 
Notes
 
2024
£
  2023
£
Fixed assets      
Tangible fixed assets 4 99,973    130,639 
99,973    130,639 
Current assets      
Debtors: amounts falling due within one year 5 661   
Cash at bank and in hand 127,682    104,266 
128,343    104,266 
Creditors: amount falling due within one year 6 (179,711)   (168,557)
Net current assets (51,368)   (64,291)
 
Total assets less current liabilities 48,605    66,348 
Provisions for liabilities 7 (25,256)   (32,687)
Net assets 23,349    33,661 
 

Capital and reserves
     
Called up share capital 8 100    100 
Profit and loss account 23,249    33,561 
Shareholders' funds 23,349    33,661 
 


For the year ended 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. 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.
These 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 income statement has not been delivered to the Registrar of Companies.
The financial statements were approved by the board of directors on 18 September 2024 and were signed on its behalf by:


-------------------------------
Mr F Terracciano
Director
4
General Information
Positano Trading Limited is a private company, limited by shares, registered in England and Wales, registration number 08014018, registration address 3 Park Court, Pyrford Road, West Byfleet, Surrey, KT14 6SD. The trading address of the company is 124 High Street, Tunsgate, Guildford, Surrey, GU1 3HQ.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 102 – The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the company.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Government grants
Government grants received are credited to deferred income. Grants towards capital expenditure are released to the income statement over the expected useful life of the assets. Grants received towards revenue expenditure are released to the income statement as the related expenditure is incurred.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted
Deferred taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date.
Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the reporting date 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.
Current and deferred tax assets and liabilities are not discounted.
Dividends
Proposed dividends are only included as liabilities in the statement of financial position when their payment has been approved by the shareholders prior to the statement of financial position date.
Intangible assets
Intangible assets (including purchased goodwill and patents) are amortised at rates calculated to write off the assets on a straight line basis over their estimated useful economic lives. Impairment of intangible assets is only reviewed where circumstances indicate that the carrying value of an asset may not be fully recoverable.
Goodwill
Acquired goodwill is stated at cost less amortisation. Amortisation is calculated on a straight line basis over the estimated expected useful economic life of the goodwill of years.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Leasehold Improvements 20% Straight Line
Plant and Machinery 25% Reducing Balance
Fixtures and Fittings 25% Reducing Balance
Computer Equipment 25% Reducing Balance
Provisions
Provisions are recognised when the company has a present obligation as a result of a past event which it is more probable than not will result in an outflow of economic benefits that can be reasonably estimated.
2.

Average number of employees

Average number of employees during the year was 31 (2023 : 23).
3.

Intangible fixed assets

Cost Goodwill   Total
  £   £
At 01 April 2023 76,947    76,947 
Additions  
Disposals  
At 31 March 2024 76,947    76,947 
Amortisation
At 01 April 2023 76,947    76,947 
Charge for year  
On disposals  
At 31 March 2024 76,947    76,947 
Net book values
At 31 March 2024  
At 31 March 2023  


4.

Tangible fixed assets

Cost or valuation Leasehold Improvements   Plant and Machinery   Motor Vehicles   Fixtures and Fittings   Computer Equipment   Total
  £   £   £   £   £   £
At 01 April 2023   85,864    10,505    161,203    10,487    268,059 
Additions 34,984    630      532      36,146 
Disposals          
At 31 March 2024 34,984    86,494    10,505    161,735    10,487    304,205 
Depreciation
At 01 April 2023 (6,997)   38,985    6,196    119,857    5,445    163,486 
Charge for year 15,915    12,085    1,077    10,409    1,260    40,746 
On disposals          
At 31 March 2024 8,918    51,070    7,273    130,266    6,705    204,232 
Net book values
Closing balance as at 31 March 2024 26,066    35,424    3,232    31,469    3,782    99,973 
Opening balance as at 01 April 2023 33,063    46,879    4,309    41,346    5,042    130,639 


5.

Debtors: amounts falling due within one year

2024
£
  2023
£
VAT 661   
661   

6.

Creditors: amount falling due within one year

2024
£
  2023
£
Trade Creditors 50,035    47,544 
Bank Loans & Overdrafts   25,897 
Corporation Tax 107,832    69,619 
PAYE & Social Security 8,843    8,294 
Accrued Expenses 5,175   
Other Creditors (15,250)  
Wages & Salaries Control Account 23,076    4,858 
VAT   12,345 
179,711    168,557 

7.

Provisions for liabilities

2024
£
  2023
£
Deferred Tax 25,223    32,660 
Pension Provisions 33    27 
25,256    32,687 

8.

Share Capital

Allotted, called up and fully paid
2024
£
  2023
£
85 Class A shares of £1.00 each 85    85 
15 Class B shares of £1.00 each 15    15 
100    100 

5