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COMPANY REGISTRATION NUMBER: 14925948
Positive Solution Services Ltd
Filleted Unaudited Financial Statements
30 June 2024
Positive Solution Services Ltd
Financial Statements
Period from 9 June 2023 to 30 June 2024
Contents
Page
Statement of financial position
1
Notes to the financial statements
2
Positive Solution Services Ltd
Statement of Financial Position
30 June 2024
30 Jun 24
Note
£
£
Current assets
Work in progress
68,275
Debtors
5
43,374
Cash at bank and in hand
106,221
---------
217,870
Creditors: amounts falling due within one year
6
155,664
---------
Net current assets
62,206
--------
Total assets less current liabilities
62,206
--------
Net assets
62,206
--------
Capital and reserves
Called up share capital
12
Profit and loss account
62,194
--------
Shareholders funds
62,206
--------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
For the period ending 30 June 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 19 November 2024 , and are signed on behalf of the board by:
J N Newton
S H Fallon
Director
Director
Company registration number: 14925948
Positive Solution Services Ltd
Notes to the Financial Statements
Period from 9 June 2023 to 30 June 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 1 Barrymore Cresent, Comberbach, Northwich, CW9 6PA, England.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the 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.
Work in progress
Work in progress is valued on the basis of direct costs plus attributable overheads and profit based on normal level of activity. Provision is made for any foreseeable losses where appropriate.
4. Employee numbers
The average number of persons employed by the company during the period amounted to 23 .
5. Debtors
30 Jun 24
£
Trade debtors
12,883
Other debtors
30,491
--------
43,374
--------
6. Creditors: amounts falling due within one year
30 Jun 24
£
Trade creditors
112,027
Social security and other taxes
32,857
Other creditors
10,780
---------
155,664
---------
7. Related party transactions
At 30 June 2024 the company owed £1,354 to the directors. No interest has been charged to the company in respect of this loan which is repayable on demand and classified in creditors due within one year