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Company No: 12160480 (England and Wales)

POSITIVE ASPIRATIONS GROUP LIMITED

Unaudited Financial Statements
For the financial year ended 31 December 2023
Pages for filing with the registrar

POSITIVE ASPIRATIONS GROUP LIMITED

Unaudited Financial Statements

For the financial year ended 31 December 2023

Contents

POSITIVE ASPIRATIONS GROUP LIMITED

STATEMENT OF FINANCIAL POSITION

As at 31 December 2023
POSITIVE ASPIRATIONS GROUP LIMITED

STATEMENT OF FINANCIAL POSITION (continued)

As at 31 December 2023
Note 2023 2022
£ £
Fixed assets
Tangible assets 3 6,973 10,806
Investments 4 2,014,629 2,014,629
2,021,602 2,025,435
Current assets
Debtors 5 107,779 99,047
Cash at bank and in hand 6 17,613 231,657
125,392 330,704
Creditors: amounts falling due within one year 7 ( 1,256,479) ( 1,524,544)
Net current liabilities (1,131,087) (1,193,840)
Total assets less current liabilities 890,515 831,595
Net assets 890,515 831,595
Capital and reserves
Called-up share capital 8 103 103
Profit and loss account 890,412 831,492
Total shareholders' funds 890,515 831,595

For the financial year ending 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The financial statements of Positive Aspirations Group Limited (registered number: 12160480) were approved and authorised for issue by the Director. They were signed on its behalf by:

R Norwood
Director

25 September 2024

POSITIVE ASPIRATIONS GROUP LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 2023
POSITIVE ASPIRATIONS GROUP LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 2023
1. Accounting policies

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.

General information and basis of accounting

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

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Taxation

Current tax
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.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Plant and machinery etc. 3 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

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.

Impairment of assets

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.

Financial instruments

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.

2. Employees

2023 2022
Number Number
Monthly average number of persons employed by the company during the year, including the director 20 20

3. Tangible assets

Plant and machinery etc. Total
£ £
Cost
At 01 January 2023 11,500 11,500
At 31 December 2023 11,500 11,500
Accumulated depreciation
At 01 January 2023 694 694
Charge for the financial year 3,833 3,833
At 31 December 2023 4,527 4,527
Net book value
At 31 December 2023 6,973 6,973
At 31 December 2022 10,806 10,806

4. Fixed asset investments

Investments in subsidiaries

2023
£
Cost
At 01 January 2023 2,014,629
At 31 December 2023 2,014,629
Carrying value at 31 December 2023 2,014,629
Carrying value at 31 December 2022 2,014,629

5. Debtors

2023 2022
£ £
Amounts owed by group undertakings 46,980 74,960
Other debtors 60,799 24,087
107,779 99,047

6. Cash and cash equivalents

2023 2022
£ £
Cash at bank and in hand 17,613 231,657

7. Creditors: amounts falling due within one year

2023 2022
£ £
Trade creditors 16,019 3,862
Amounts owed to group undertakings 201,754 334,902
Taxation and social security 39,871 37,369
Other creditors 998,835 1,148,411
1,256,479 1,524,544

8. Called-up share capital

2023 2022
£ £
Allotted, called-up and fully-paid
100 Ordinary A shares of £ 1.00 each 100 100
3 Ordinary B shares of £ 1.00 each 3 3
103 103

9. Related party transactions

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.