Possibilities Unlimited Limited - Accounts

Possibilities Unlimited Limited - Accounts

POSSIBILITIES UNLIMITED LIMITED - Company Information

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Registered Number: 09625360
England and Wales

 

 

 

POSSIBILITIES UNLIMITED LIMITED


Abridged Accounts
 


Period of accounts

Start date: 01 July 2022

End date: 30 June 2023

Possibilities Unlimited Limited
Contents Page
For the year ended 30 June 2023
Accountants report
You consider that the company is exempt from an audit for the year ended 30 June 2023 . You have acknowledged, on the balance sheet, your responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. These responsibilities include preparing accounts that give a true and fair view of the state of affairs of the company at the end of the financial year and of its profit or loss for the financial year.
In accordance with your instructions, we have prepared the accounts which comprise the Income statement, statement of financial position, notes to the financial statements and detailed income statement from the accounting records of the company and on the basis of information and explanations you have given to us. We have not carried out an audit or any other review, and consequently we do not express any opinion on these accounts.

Palmers Business Support Ltd
30 June 2023



....................................................
Palmers Business Support Ltd
Palmers Barn
Station Road, Long Marston
TRING
HP23 4QS
28 March 2024
1
 
 		 Notes
 		 2023
£		   2022
£
Current assets      
Debtors: amounts falling due within one year 1,140    371 
Cash at bank and in hand 8,855    14,708 
9,995    15,079 
Creditors: amount falling due within one year (70,117)   (68,249)
Net current liabilities (60,122)   (53,170)
 
Total assets less current liabilities (60,122)   (53,170)
Net liabilities (60,122)   (53,170)
 

Capital and reserves 		     
Called up share capital 1    1 
Profit and loss account (60,123)   (53,171)
Shareholder's funds (60,122)   (53,170)
 


For the year ended 30 June 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The director acknowledges their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. In accordance with Section 444 of the Companies Act 2006, the income statement has not been delivered to the Registrar of Companies.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with section 444(2A).
The financial statements were approved by the director on 28 March 2024 and were signed by:


-------------------------------
Riana Mahtani
Director
2
General Information
Possibilities Unlimited Limited is a private company, limited by shares, registered in England and Wales, registration number 09625360, registration address Flat 15, 30 Harley Street, London, W1G 0PN.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 102 – The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the company.
Going concern basis
The directors believe that the company is experiencing good levels of sales growth and profitability, and that it is well placed to manage its business risks successfully. Accordingly, they have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus they continue to adopt the going concern basis of accounting in preparing the financial statements.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted
2.

Average number of employees

Average number of employees during the year was 1 (2022 : 1).
3