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Company No: 07706592 (England and Wales)

POSITIVELUXURY LIMITED

Unaudited Financial Statements
For the financial year ended 31 December 2024
Pages for filing with the registrar

POSITIVELUXURY LIMITED

Unaudited Financial Statements

For the financial year ended 31 December 2024

Contents

POSITIVELUXURY LIMITED

COMPANY INFORMATION

For the financial year ended 31 December 2024
POSITIVELUXURY LIMITED

COMPANY INFORMATION (continued)

For the financial year ended 31 December 2024
DIRECTORS A Bankes
K Hanton
A Nelson-Bennet
D Verde-Nieto
REGISTERED OFFICE 81 Leonard Street
London
United Kingdom
COMPANY NUMBER 07706592 (England and Wales)
ACCOUNTANT Gravita Essex Limited
Treviot House
186-192 High Road
Ilford
Essex
IG1 1LR
United Kingdom
POSITIVELUXURY LIMITED

BALANCE SHEET

As at 31 December 2024
POSITIVELUXURY LIMITED

BALANCE SHEET (continued)

As at 31 December 2024
Note 2024 2023
£ £
Fixed assets
Intangible assets 3 480,202 206,573
Tangible assets 4 9,435 9,726
489,637 216,299
Current assets
Debtors 5 283,217 284,740
Cash at bank and in hand 13,172 88,785
296,389 373,525
Creditors: amounts falling due within one year 6 ( 1,607,131) ( 1,419,802)
Net current liabilities (1,310,742) (1,046,277)
Total assets less current liabilities (821,105) (829,978)
Creditors: amounts falling due after more than one year 7 ( 53,543) ( 81,063)
Net liabilities ( 874,648) ( 911,041)
Capital and reserves
Called-up share capital 1,474 1,474
Share premium account 9,666 9,666
Profit and loss account ( 885,788 ) ( 922,181 )
Total shareholders' deficit ( 874,648) ( 911,041)

For the financial year ending 31 December 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of Positiveluxury Limited (registered number: 07706592) were approved and authorised for issue by the Board of Directors on 27 May 2025. They were signed on its behalf by:

A Nelson-Bennet
Director
POSITIVELUXURY LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 2024
POSITIVELUXURY LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 2024
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

Positiveluxury 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 81 Leonard Street,, London, 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 £.

Going concern

The directors have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Foreign currency

Transactions in foreign currencies are recorded at the rate of exchange at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the Balance Sheet date are reported at the rates of exchange prevailing at that date.

Exchange differences are recognised in the Profit and Loss Account in the period in which they arise except for exchange differences arising on gains or losses on non-monetary items which are recognised in the Statement of Comprehensive Income.

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.

Employee benefits

Defined contribution schemes
The Company operates a defined contribution scheme. The amount charged to the Profit and Loss Account in respect of pension costs and other post-retirement benefits is the contributions payable in the financial year. Differences between contributions payable in the financial year and contributions actually paid are included as either accruals or prepayments in the Balance Sheet.

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 Balance Sheet date.

Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Other intangible assets 8 - 10 years straight line
Research and development

Development costs are amortised on a straight line basis over 8 years in order to write off the cost less estimated residual value of the asset over its estimated useful life.

Trademarks, patents and licences

Separately acquired patents and trademarks are included at cost and amortised in equal annual instalments over a period of 10 years which is their estimated useful economic life. Provision is made for any impairment.

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. 4 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.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 16 18

3. Intangible assets

Other intangible assets Total
£ £
Cost/Valuation
At 01 January 2024 348,521 348,521
Additions 331,111 331,111
At 31 December 2024 679,632 679,632
Accumulated amortisation
At 01 January 2024 141,948 141,948
Charge for the financial year 57,482 57,482
At 31 December 2024 199,430 199,430
Net book value
At 31 December 2024 480,202 480,202
At 31 December 2023 206,573 206,573

4. Tangible assets

Plant and machinery etc. Total
£ £
Cost
At 01 January 2024 28,385 28,385
Additions 5,712 5,712
Disposals ( 831) ( 831)
At 31 December 2024 33,266 33,266
Accumulated depreciation
At 01 January 2024 18,659 18,659
Charge for the financial year 5,811 5,811
Disposals ( 639) ( 639)
At 31 December 2024 23,831 23,831
Net book value
At 31 December 2024 9,435 9,435
At 31 December 2023 9,726 9,726

5. Debtors

2024 2023
£ £
Trade debtors 252,515 216,233
Corporation tax 0 47,450
Other debtors 30,702 21,057
283,217 284,740

6. Creditors: amounts falling due within one year

2024 2023
£ £
Bank loans 10,648 10,648
Trade creditors 263,050 182,230
Shareholder loans 200,000 203,097
Amounts owed to related parties 341,552 341,552
Amounts owed to directors 31,260 83,260
Other loans 29,341 29,341
Accruals and deferred income 621,565 515,851
Taxation and social security 104,494 26,008
Other creditors 5,221 27,815
1,607,131 1,419,802

7. Creditors: amounts falling due after more than one year

2024 2023
£ £
Bank loans 4,352 14,352
Other creditors 49,191 66,711
53,543 81,063

There are no amounts included above in respect of which any security has been given by the small entity.