2023-10-01 05495904 2024-09-30 05495904 2023-10-01 2024-09-30 05495904 2023-09-30 05495904 2022-10-01 2023-09-30 05495904 uk-core:WithinOneYear 2023-09-30 05495904 uk-core:WithinOneYear 2024-09-30 05495904 uk-core:ShareCapital 2024-09-30 05495904 uk-core:ShareCapital 2023-09-30 05495904 uk-core:RetainedEarningsAccumulatedLosses 2024-09-30 05495904 uk-core:RetainedEarningsAccumulatedLosses 2023-09-30 05495904 uk-bus:Director1 2023-10-01 2024-09-30 05495904 uk-core:PlantMachinery 2023-10-01 2024-09-30 05495904 uk-core:MotorVehicles 2023-10-01 2024-09-30 05495904 uk-core:FurnitureFittings 2023-10-01 2024-09-30 05495904 uk-core:FurnitureFittings 2023-09-30 05495904 uk-core:PlantMachinery 2023-09-30 05495904 uk-core:Buildings 2023-09-30 05495904 uk-core:Buildings 2024-09-30 05495904 uk-core:PlantMachinery 2024-09-30 05495904 uk-core:FurnitureFittings 2024-09-30 05495904 uk-core:Buildings 2023-10-01 2024-09-30 iso4217:GBP xbrli:pure 05495904 uk-bus:AuditExemptWithAccountantsReport 2023-10-01 2024-09-30 05495904 uk-bus:FRS102 2023-10-01 2024-09-30 05495904 uk-bus:FilletedAccounts 2023-10-01 2024-09-30 05495904 uk-bus:PrivateLimitedCompanyLtd 2023-10-01 2024-09-30
POSL Limited
Registered Number:05495904
For the year ended 30 September 2024
England and Wales
Unaudited Financial Statements
2
For the year ended 30 September 2024
POSL Limited
Contents Page
1
Statement of Financial Position
2 to 4
Notes to the Financial Statements
3
Registered Number :
05495904
As at 30 September 2024
POSL Limited
Statement of Financial Position
£
£
2023
2024
Notes
Fixed assets
Property, plant and equipment
187,102
187,673
2
187,102
187,673
Current assets
Trade and other receivables
1,618
2,286
3
6,338
Cash and cash equivalents
7,531
9,817
7,956
Trade and other payables: amounts falling due within one
year
(119,995)
(149,037)
4
(112,039)
(139,220)
Net current liabilities
Total assets less current liabilities
47,882
75,634
(800)
(1,000)
Provisions for liabilities
47,082
Net assets
74,634
Capital and reserves
Called up share capital
101
101
Retained earnings
46,981
74,533
47,082
74,634
Shareholders' funds
For the year ended 30 September 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 ended 30 September 2024 in accordance with Section 476 of the Companies Act 2006
The director acknowledges his responsibilities for:a) ensuring that the company keeps proper accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
b) preparing financial statements which give a true and fair view of the state of affairs of the company as at the
end of each financial year and of its profit or loss for each financial year in accordance with the requirements
of Section 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006
relating to financial statements, so far as applicable to the company.
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.
The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
Mr P. Oldfield Director
These financial statements were approved and authorised for issue by the Board on 26 June 2025 and were signed by:
The notes form part of these financial statements
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4
For the year ended 30 September 2024
POSL Limited
Notes to the Financial Statements
Statutory Information
POSL Limited is a private limited company, limited by shares, domiciled in England and Wales, registration
number 05495904.
Registered address:
Omega Court
368 Cemetery Road
Sheffield
S11 8FT
The presentation currency is £ sterling.
1. Accounting policies
Basis of preparing the financial statements
These financial statements have been prepared in accordance with the provisions of Section 1A of Financial
Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and
the Companies Act 2006. The financial statements have been prepared under the historical costs convention as
modified by the revaluation of certain assets.
Revenue recognition
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts. Turnover is recognised on the completion of each large contract assignment or small job, in accordance with the contract terms.
Property, plant and equipment
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Plant and machinery
10% Reducing balance
25% Reducing balance
Motor vehicles
20% Reducing balance
Fixtures and fittings
No depreciation is provided on the company''s freehold properties since in the opinion of the directors the
expected useful lives are sufficiently long and the estimated residual values are sufficiently high that any such
depreciation would be immaterial. The directors undertake an annual impairment review of these properties.
Inventories
Income on work in progress contracts is recognised by reference to the valuation of time spent on each contract, at the year end. Profit on work in progress contracts is recognised when the outcome of the contracts can be assessed with reasonable certainty, and is that amount which is estimated to fairly reflect the profit arising up to the year end. Profit on work in progress contracts is reflected in the profit and loss account as the difference between the reported turnover, and the related costs.
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5
For the year ended 30 September 2024
POSL Limited
Notes to the Financial Statements Continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date. Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in the financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of timing differences. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or future profits.
Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter. The interest element of these obligations is charged to the profit and loss account over the relevant period, calculated using the sum of digits method. The capital element of the future payments is treated as a libility. Rentals under operating leases are charged to the profit and loss account as incurred.
2. Property, plant and equipment
Total
Fixtures and
fittings
Plant and
machinery
Land and
buildings
£
£
£
£
Cost or
valuation
At 01 October 2023
197,710
5,640
9,139
182,931
At 30 September 2024
182,931
9,139
5,640
197,710
Provision for depreciation and impairment
At 01 October 2023
10,037
4,669
5,368
-
Charge for year
571
194
377
-
At 30 September 2024
10,608
4,863
5,745
-
At 30 September 2024
Net book value
182,931
3,394
777
187,102
At 30 September 2023
182,931
3,771
971
187,673
3. Trade and other receivables
2023
2024
£
£
Trade debtors
2,286
1,618
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6
For the year ended 30 September 2024
POSL Limited
Notes to the Financial Statements Continued
4. Trade and other payables: amounts falling due within one year
2023
2024
£
£
Trade creditors
57
497
Taxation and social security
8,518
9,764
Other creditors
140,462
109,734
149,037
119,995
5. Related party transactions
The director is also a shareholder of the company. Dividends paid to Mr P. Oldfield, as director and
shareholder of the company, during the year (with the previous year shown in brackets) were £38,000
(£40,000).
6. Average number of persons employed
During the year the average number of employees was 1 (2023 : 1)
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