3 false false false false false false false false false false true false false true true true true No description of principal activity 2023-08-01 Sage Accounts Production Advanced 2023 - FRS102_2023 64,473 16,069 6,444 22,513 41,960 48,404 xbrli:pure xbrli:shares iso4217:GBP SC636353 2023-08-01 2024-07-31 SC636353 2024-07-31 SC636353 2023-07-31 SC636353 2022-08-01 2023-07-31 SC636353 2023-07-31 SC636353 2022-07-31 SC636353 bus:Director1 2023-08-01 2024-07-31 SC636353 bus:Director2 2023-08-01 2024-07-31 SC636353 core:WithinOneYear 2024-07-31 SC636353 core:WithinOneYear 2023-07-31 SC636353 core:ShareCapital 2024-07-31 SC636353 core:ShareCapital 2023-07-31 SC636353 core:SharePremium 2024-07-31 SC636353 core:SharePremium 2023-07-31 SC636353 core:RetainedEarningsAccumulatedLosses 2024-07-31 SC636353 core:RetainedEarningsAccumulatedLosses 2023-07-31 SC636353 bus:Director2 2023-07-31 SC636353 bus:Director2 2022-07-31 SC636353 bus:SmallEntities 2023-08-01 2024-07-31 SC636353 bus:AuditExempt-NoAccountantsReport 2023-08-01 2024-07-31 SC636353 bus:SmallCompaniesRegimeForAccounts 2023-08-01 2024-07-31 SC636353 bus:PrivateLimitedCompanyLtd 2023-08-01 2024-07-31 SC636353 bus:FullAccounts 2023-08-01 2024-07-31 SC636353 core:ComputerSoftware 2023-08-01 2024-07-31 SC636353 core:ComputerSoftware 2024-07-31 SC636353 core:ComputerSoftware 2023-07-31
COMPANY REGISTRATION NUMBER: SC636353
OK POSITIVE LIMITED
Filleted Unaudited Financial Statements
31 July 2024
OK POSITIVE LIMITED
Statement of Financial Position
31 July 2024
2024
2023
Note
£
£
Fixed assets
Intangible assets
5
41,960
48,404
Current assets
Debtors
6
5,269
1,391
Cash at bank and in hand
46,738
164,354
--------
---------
52,007
165,745
Creditors: amounts falling due within one year
7
46,525
54,105
--------
---------
Net current assets
5,482
111,640
--------
---------
Total assets less current liabilities
47,442
160,044
--------
---------
Net assets
47,442
160,044
--------
---------
Capital and reserves
Called up share capital
120
120
Share premium account
210,221
210,221
Profit and loss account
( 162,899)
( 50,297)
---------
---------
Shareholders funds
47,442
160,044
---------
---------
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 year ending 31 July 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 year 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 .
OK POSITIVE LIMITED
Statement of Financial Position (continued)
31 July 2024
These financial statements were approved by the board of directors and authorised for issue on 31 October 2024 , and are signed on behalf of the board by:
C Winton
R J Bazley
Director
Director
Company registration number: SC636353
OK POSITIVE LIMITED
Notes to the Financial Statements
Year ended 31 July 2024
1. General information
The company is a private company limited by shares, registered in Scotland. The address of the registered office is Benachie, Lochinver, IV27 4LJ, Scotland.
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 represents the invoiced value of services rendered and goods provided during the year excluding Value Added Tax. The company's policy is to recognise income when substantially all risks and rewards in connection with the services and goods have been passed to the buyer.
Foreign currencies
Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.
Intangible assets
Intangible fixed assets are amortised at rates calculated to write off the assets on a straight line basis over their estimated useful economic lives, not to excedd ten years.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
App Software
-
10% straight line
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
Financial instruments
The company only has financial assets and liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recorded at transaction value and subsequently measured at their settlement value.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 3 (2023: 2 ).
5. Intangible assets
Other intangible assets
£
Cost
At 1 August 2023 and 31 July 2024
64,473
--------
Amortisation
At 1 August 2023
16,069
Charge for the year
6,444
--------
At 31 July 2024
22,513
--------
Carrying amount
At 31 July 2024
41,960
--------
At 31 July 2023
48,404
--------
6. Debtors
2024
2023
£
£
Trade debtors
3,849
1,391
Other debtors
1,420
-------
-------
5,269
1,391
-------
-------
7. Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
150
Social security and other taxes
1,866
Other creditors
46,525
52,089
--------
--------
46,525
54,105
--------
--------
8. Directors' advances, credits and guarantees
During the year the directors entered into the following advances and credits with the company:
Balance brought forward and outstanding
2024
2023
£
£
R J Bazley
( 46,325)
( 46,325)
--------
--------