Company No:
Contents
Note | 2023 | 2022 | ||
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Fixed assets | ||||
Tangible assets | 3 |
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Investments | 4 |
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2,021,602 | 2,025,435 | |||
Current assets | ||||
Debtors | 5 |
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Cash at bank and in hand | 6 |
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125,392 | 330,704 | |||
Creditors: amounts falling due within one year | 7 | (
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Net current liabilities | (1,131,087) | (1,193,840) | ||
Total assets less current liabilities | 890,515 | 831,595 | ||
Net assets |
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Capital and reserves | ||||
Called-up share capital | 8 |
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Profit and loss account |
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Total shareholders' funds |
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Director's responsibilities:
The financial statements of Positive Aspirations Group Limited (registered number:
R Norwood
Director |
The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.
Positive Aspirations Group Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the company's registered office is Mirror Works, Unit Mi.113, 12 Marshgate Lane, London, E15 2NH, England, United Kingdom.
The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.
The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.
Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Statement of Financial Position date.
Plant and machinery etc. |
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The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
Assets, other than those measured at fair value, are assessed for indicators of impairment at each Statement of Financial Position date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.
The Company only enters into basic financial instruments and transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to and from related parties and investments in non-puttable ordinary shares.
2023 | 2022 | ||
Number | Number | ||
Monthly average number of persons employed by the company during the year, including the director |
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Plant and machinery etc. | Total | ||
£ | £ | ||
Cost | |||
At 01 January 2023 |
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At 31 December 2023 |
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Accumulated depreciation | |||
At 01 January 2023 |
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Charge for the financial year |
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At 31 December 2023 |
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Net book value | |||
At 31 December 2023 |
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At 31 December 2022 |
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Investments in subsidiaries
2023 | |
£ | |
Cost | |
At 01 January 2023 |
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At 31 December 2023 |
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Carrying value at 31 December 2023 |
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Carrying value at 31 December 2022 |
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2023 | 2022 | ||
£ | £ | ||
Amounts owed by group undertakings |
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Other debtors |
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£ | £ | ||
Cash at bank and in hand |
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£ | £ | ||
Trade creditors |
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Amounts owed to group undertakings |
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Taxation and social security |
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Other creditors |
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£ | £ | ||
Allotted, called-up and fully-paid | |||
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103 | 103 |
Where possible, the company has taken advantage of the exemption conferred by FRS 102 section 33.1A from the requirement to disclose transactions with other wholly owned group undertakings.
Included in other creditors is a balance of £201,754 (2022: £334,902) owed to Greater London Fostering Ltd, a company in which R. Norwood is also a director. This balance is unsecured and interest free, with no fixed repayment terms.
Also included in other debtors is a balance of £29,080 (2022: £29,980) owed by The Foster Training Company Ltd, a company in which R. Norwood is also a director. This balance is unsecured and interest free, with no fixed repayment terms.
Included in other debtors is a balance of £17,000 (2022: £15,000) owed by South coast Fostering Ltd, a company in which R. Norwood is also a director. This balance is unsecured and interest free, with no fixed repayment terms.