Company No: 04756992 (England and Wales)

Contents

• Balance Sheet
• Notes to the Financial Statements

	Note	2025		2024
		£		£
Fixed assets
Intangible assets	3	426,313		468,890
Tangible assets	4	164,600		207,994
		590,913		676,884
Current assets
Debtors	5	372,923		279,156
Cash at bank and in hand		974,019		1,283,879
		1,346,942		1,563,035
Creditors: amounts falling due within one year	6	( 957,698)		( 1,019,033)
Net current assets		389,244		544,002
Total assets less current liabilities		980,157		1,220,886
Creditors: amounts falling due after more than one year	7	( 13,946)		( 17,218)
Provision for liabilities		( 20,293)		( 27,893)
Net assets		945,918		1,175,775
Capital and reserves
Called-up share capital	8	800		800
Profit and loss account		945,118		1,174,975
Total shareholder's funds		945,918		1,175,775

For the financial year ending 31 May 2025 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

• The member has not required the Company to obtain an audit of its financial statements for the financial year 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; and
• These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Statement of Income and Retained Earnings has not been delivered.

The financial statements of Positive Purchasing Limited (registered number: 04756992) were approved and authorised for issue by the Board of Directors on 11 September 2025. They were signed on its behalf by:

J O'Brien Director

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

Positive Purchasing 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 Plym House Suite 4, 3 Longbridge Road, Plymouth, PL6 8LT, 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 £.

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.

Turnover

Turnover is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer.

Revenue from services is recognised as they are delivered.

Employee benefits

Defined contribution schemes
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

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.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on tax rates and laws substantively enacted at the balance sheet date. Deferred tax assets and liabilities are not discounted.

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:

Development costs	3 years straight line
Trademarks, patents and licences	10 years straight line

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 and reducing balance basis over its expected useful life, as follows:

Leasehold improvements	10 years straight line
Plant and machinery	25 % reducing balance
Vehicles	25 % reducing balance
Fixtures and fittings	25 % reducing balance
Office equipment	33 % reducing balance

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.

Leases

The Company as lessee
Assets held under finance leases, hire purchase contracts and other similar arrangements, which confer rights and obligations similar to those attached to owned assets, are capitalised as tangible fixed assets at the fair value of the leased asset (or, if lower, the present value of the minimum lease payments as determined at the inception of the lease) and are depreciated over the shorter of the lease terms and their useful lives. The capital elements of future lease obligations are recorded as liabilities, while the interest elements are charged to the Statement of Income and Retained Earnings over the period of the leases to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

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.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets receivable within one year, such as trade debtors and bank balances, are measured at transaction price less any impairment.

Basic financial assets receivable within more than one year are measured at amortised cost less any impairment.

Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Basic financial liabilities
Basic financial liabilities that have no stated interest rate and are payable within one year, such as trade creditors, are measured at transaction price.

Other basic financial liabilities are measured at amortised cost.

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

2. Employees

	2025		2024
	Number		Number
Monthly average number of persons employed by the Company during the year, including directors	17		20

3. Intangible assets

	Development costs		Trademarks, patents and licences		Total
	£		£		£
Cost
At 01 June 2024	3,414,762		13,707		3,428,469
Additions	392,137		420		392,557
At 31 May 2025	3,806,899		14,127		3,821,026
Accumulated amortisation
At 01 June 2024	2,952,767		6,812		2,959,579
Charge for the financial year	433,722		1,412		435,134
At 31 May 2025	3,386,489		8,224		3,394,713
Net book value
At 31 May 2025	420,410		5,903		426,313
At 31 May 2024	461,995		6,895		468,890

4. Tangible assets

	Leasehold improve- ments		Plant and machinery		Vehicles		Fixtures and fittings		Office equipment		Total
	£		£		£		£		£		£
Cost
At 01 June 2024	118,927		206,269		122,371		35,406		2,400		485,373
Additions	0		1,600		0		0		0		1,600
Disposals	0		( 4,709)		0		0		0		( 4,709)
At 31 May 2025	118,927		203,160		122,371		35,406		2,400		482,264
Accumulated depreciation
At 01 June 2024	37,560		135,778		77,414		24,231		2,396		277,379
Charge for the financial year	11,895		17,737		11,240		2,797		1		43,670
Disposals	0		( 3,385)		0		0		0		( 3,385)
At 31 May 2025	49,455		150,130		88,654		27,028		2,397		317,664
Net book value
At 31 May 2025	69,472		53,030		33,717		8,378		3		164,600
At 31 May 2024	81,367		70,491		44,957		11,175		4		207,994

5. Debtors

	2025		2024
	£		£
Trade debtors	301,967		217,265
Prepayments	39,821		58,700
Corporation tax	27,936		0
Other debtors	3,199		3,191
	372,923		279,156

6. Creditors: amounts falling due within one year

	2025		2024
	£		£
Bank overdrafts	0		3,944
Trade creditors	74,533		69,673
Amounts owed to directors	6,044		4,347
Accruals and deferred income	815,631		798,582
Taxation and social security	48,593		80,062
Obligations under finance leases and hire purchase contracts	3,271		54,987
Other creditors	9,626		7,438
	957,698		1,019,033

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

	2025		2024
	£		£
Obligations under finance leases and hire purchase contracts	13,946		17,218

Obligations under finance lease liabilities and hire purchase contracts are secured by way of a charge over the assets of the company.

8. Called-up share capital

	2025		2024
	£		£
Allotted, called-up and fully-paid
2,000 Ordinary shares shares of £ 0.10 each	200		200
100 Ordinary A shares shares of £ 1.00 each	100		100
100 Ordinary D shares shares of £ 1.00 each	100		100
100 Ordinary E shares shares of £ 1.00 each	100		100
100 Ordinary J shares shares of £ 1.00 each	100		100
100 Ordinary M shares shares of £ 1.00 each	100		100
100 Ordinary S shares shares of £ 1.00 each	100		100
	800		800

9. Financial commitments

Commitments

Capital commitments are as follows:

	2025		2024
	£		£
Contracted for but not provided for:
Other	9,667		48,335

10. Ultimate controlling party

Parent Company:

Positive (Holdings) Limited, incorporated in England and Wales.

These financial statements are available upon request from Companies House, Crown Way, Cardiff.