Company registration number 14586646 (England and Wales)
POSITIVE INVESTING LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2024
PAGES FOR FILING WITH REGISTRAR
POSITIVE INVESTING LTD
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 5
POSITIVE INVESTING LTD
BALANCE SHEET
AS AT 31 MARCH 2024
31 March 2024
- 1 -
2024
Notes
£
£
Fixed assets
Investment property
4
1,491,255
Current assets
Cash at bank and in hand
3,309
Creditors: amounts falling due within one year
5
(1,440,167)
Net current liabilities
(1,436,858)
Total assets less current liabilities
54,397
Creditors: amounts falling due after more than one year
(108,000)
Net liabilities
(53,603)
Capital and reserves
Called up share capital
7
1,000
Profit and loss reserves
(54,603)
Total equity
(53,603)

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

The member has not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true

The financial statements were approved and signed by the director and authorised for issue on 11 October 2024
Harjot Batra
Director
Company registration number 14586646 (England and Wales)
POSITIVE INVESTING LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2024
- 2 -
1
Accounting policies
Company information

Positive Investing Ltd is a private company limited by shares incorporated in England and Wales. The registered office is Qwest 1100 Great West Road, Unit 3.03 Qwest, Brentford, Middlesex, TW8 0GP.

1.1
Reporting period

The reporting period is more than one year due to company's first accounts being made up to 31 March 2024 and therefore there are no comparative figures.

1.2
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.

1.3
Turnover

Turnover represents rent receivable from investment property.

 

Rent receivable is recognised on a monthly basis from the start date of the tenancy agreement allowing for any void periods from one tenancy to another.

1.4
Investment property

Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. Changes in fair value are recognised in profit or loss.

1.5
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.6
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

 

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

POSITIVE INVESTING LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 MARCH 2024
1
Accounting policies
(Continued)
- 3 -
Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

 

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

 

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

1.7
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

2
Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the director is required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

 

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

3
Employees
2024
Number
Total
1
POSITIVE INVESTING LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 MARCH 2024
- 4 -
4
Investment property
2024
£
Fair value
At 11 January 2023
-
0
Additions
1,491,255
At 31 March 2024
1,491,255

Investment in properties comprises freehold property. In the opinion of the director the fair value of the investment property is not significantly different to that stated above which represents the amount purchased during the period.

5
Creditors: amounts falling due within one year
2024
£
Other borrowings
6
1,000,000
Other creditors
438,667
Accruals and deferred income
1,500
1,440,167

Other borrowings of £1,000,000 is short-term bridging loan secured by fixed charge over the company's investment property.

6
Loans and overdrafts
2024
£
Loans from group undertakings and related parties
108,000
Other loans
1,000,000
1,108,000
Payable within one year
1,000,000
Payable after one year
108,000
7
Called up share capital
2024
2024
Ordinary share capital
Number
£
Issued and fully paid
Ordinary of £1 each
1,000
1,000

During the period the company issued 1,000 ordinary shares of £1 each at par, on incorporation of the company.

POSITIVE INVESTING LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 MARCH 2024
- 5 -
8
Related party transactions
Transactions with related parties

During the period the company entered into the following transactions with related parties:

As on 31 March 2024, company owed £108,000 to Icon Global Services Ltd, a company having common director. The loan is interest free. The director have confirmed that no repayment of the loan will be required which could prejudice the operational activities of the company.

9
Control

The company was under the control of its director during the period under review.

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