Company registration number 12951311 (England and Wales)
POSITIVE TRANSFORMATION GROUP LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31 OCTOBER 2024
PAGES FOR FILING WITH REGISTRAR
Kings House
9-10 Haymarket
London
United Kingdom
SW1Y 4BP
POSITIVE TRANSFORMATION GROUP LIMITED
CONTENTS
Page
Company information
1
Balance sheet
2
Notes to the financial statements
3 - 6
POSITIVE TRANSFORMATION GROUP LIMITED
COMPANY INFORMATION
- 1 -
Directors
Georgie Greaves
Neeraj Sharma
Tim Everest
Company number
12951311
Registered office
Kings House
9-10 Haymarket
London
United Kingdom
SW1Y 4BP
Accountants
TC Group
Kings House
9-10 Haymarket
London
United Kingdom
SW1Y 4BP
POSITIVE TRANSFORMATION GROUP LIMITED
BALANCE SHEET
AS AT
31 OCTOBER 2024
31 October 2024
- 2 -
2024
2023
Notes
£
£
£
£
Current assets
Debtors
4
67,759
148,803
Cash at bank and in hand
128,287
130,125
196,046
278,928
Creditors: amounts falling due within one year
5
(339,716)
(290,501)
Net current liabilities
(143,670)
(11,573)
Capital and reserves
Called up share capital
107
107
Share premium account
99,993
99,993
Profit and loss reserves
(243,770)
(111,673)
Total equity
(143,670)
(11,573)

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

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

The directors acknowledge their 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 directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

The financial statements were approved by the board of directors and authorised for issue on 25 March 2025 and are signed on its behalf by:
Georgie  Greaves
Director
Company registration number 12951311 (England and Wales)
POSITIVE TRANSFORMATION GROUP LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024
- 3 -
1
Accounting policies
Company information

Positive Transformation Group Limited is a private company limited by shares incorporated in England and Wales. The registered office is Kings House, 9-10 Haymarket, London, United Kingdom, SW1Y 4BP.

1.1
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.

1.2
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.

 

When cash inflows are deferred and represent a financing arrangement, the fair value of the consideration is the present value of the future receipts. The difference between the fair value of the consideration and the nominal amount received is recognised as interest income.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Revenue from contracts for the provision of professional services is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. The stage of completion is calculated by comparing costs incurred, mainly in relation to contractual hourly staff rates and materials, as a proportion of total costs. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that it is probable will be recovered.

1.3
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.

POSITIVE TRANSFORMATION GROUP LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2024
1
Accounting policies
(Continued)
- 4 -
1.4
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.

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.

1.5
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.

POSITIVE TRANSFORMATION GROUP LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2024
1
Accounting policies
(Continued)
- 5 -
1.6
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

 

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

 

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.7
Leases

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.

1.8
Foreign exchange

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.

2
Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the directors are 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.

 

In the opinion of the directors there are no significant judgements or areas of estimation uncertainty.

 

3
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
3
4
POSITIVE TRANSFORMATION GROUP LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2024
- 6 -
4
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
28,692
87,478
Unpaid share capital
100
100
Other debtors
38,967
61,225
67,759
148,803
5
Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
308,841
239,626
Other creditors
-
0
20,000
Accruals and deferred income
30,875
30,875
339,716
290,501
6
Directors' transactions

Dividends totalling £0 (2023 - £0) were paid in the year in respect of shares held by the company's directors.

During a Shareholders Meeting of 28 June 2022, a loan arrangement was agreed and entered into between the company and Daniel Brown (''the borrower''). The borrower was a Director and Shareholder of the company as at the date of the Shareholders meeting of 28th June 2022. Under the terms of this agreement the company loaned the borrower the sum of £29,549, with interest charged at the HMRC official rate. The Company subsequently terminated the borrower’s Directors appointment on 22nd February 2023. In accordance with the Loan Agreement the full amount (including interest) then became repayable by the borrower no later than 5 April 2023 but remained outstanding at the balance sheet date of these accounts. As of 31 October 2024, a settlement agreement was reached between the company and Daniel Brown, subsequent to which the Loan Agreement has been extinguished, leading to (a) the total loan amount including chargeable interest being written off by the company amounting to £30,962 and (b) the borrower Daniel Brown ceasing to be a shareholder by virtue of surrendering all his shareholding back to company (the aforementioned settlement agreement signed and executed on 1 November 2024).

 

2024-10-312023-11-01falsefalsefalse25 March 2025CCH SoftwareCCH Accounts Production 2024.310No description of principal activityGeorgie GreavesNeeraj SharmaTim Everest129513112023-11-012024-10-3112951311bus:Director12023-11-012024-10-3112951311bus:Director22023-11-012024-10-3112951311bus:Director32023-11-012024-10-3112951311bus:RegisteredOffice2023-11-012024-10-31129513112024-10-31129513112023-10-3112951311core:CurrentFinancialInstrumentscore:WithinOneYear2024-10-3112951311core:CurrentFinancialInstrumentscore:WithinOneYear2023-10-3112951311core:CurrentFinancialInstruments2024-10-3112951311core:CurrentFinancialInstruments2023-10-3112951311core:ShareCapital2024-10-3112951311core:ShareCapital2023-10-3112951311core:SharePremium2024-10-3112951311core:SharePremium2023-10-3112951311core:RetainedEarningsAccumulatedLosses2024-10-3112951311core:RetainedEarningsAccumulatedLosses2023-10-31129513112022-11-012023-10-3112951311bus:PrivateLimitedCompanyLtd2023-11-012024-10-3112951311bus:SmallCompaniesRegimeForAccounts2023-11-012024-10-3112951311bus:FRS1022023-11-012024-10-3112951311bus:AuditExemptWithAccountantsReport2023-11-012024-10-3112951311bus:FullAccounts2023-11-012024-10-31xbrli:purexbrli:sharesiso4217:GBP