Positive ER Solutions Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 11098743 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 December 2019

for

Positive ER Solutions Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

J Moye

REGISTERED OFFICE:

Haines Watts

Keepers Lane

The Wergs

Wolverhampton

West Midlands

WV6 8UA

REGISTERED NUMBER:

11098743 (England and Wales)

ACCOUNTANTS:

Haines Watts Wolverhampton Limited

Keepers Lane

The Wergs

Wolverhampton

West Midlands

WV6 8UA

FIXED ASSETS

Tangible assets

4

1,224

1,530

CURRENT ASSETS

Debtors

5

93

2,374

Cash at bank

445

-

538

2,374

CREDITORS

Amounts falling due within one year

6

5,897

3,804

NET CURRENT LIABILITIES

(5,359

)

(1,430

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(4,135

)

100

CAPITAL AND RESERVES

Called up share capital

7

100

100

Retained earnings

(4,235

)

-

SHAREHOLDERS' FUNDS

(4,135

)

100

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2019 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:

(a)	ensuring that the company keeps 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 Sections 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.

The 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 Profit and Loss Account has not been delivered.

The financial statements were approved by the director and authorised for issue on 14 July 2020 and were signed by:

J Moye - Director

1.	STATUTORY INFORMATION

Positive ER Solutions Limited is a private company, limited by shares , registered in England and

Wales. The company's registered number and registered office address can be found on the

Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The financial statements have been prepared on a going concern basis. The Directors have reviewed

and considered relevant information, including the annual budget and future cash flows in making their

assessment. In particular, in response to the COVID-19 pandemic, the Directors have tested their

cash flow analysis to take into account the impact on their business of possible scenarios brought on

by the impact of COVID-19, alongside the measures that they can take to mitigate the impact. Based

on these assessments, given the measures that could be undertaken to mitigate the current adverse

conditions, and the current resources available, the Directors have concluded that they can continue

to adopt the going concern basis in preparing the annual report and accounts.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding

discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.

Computer equipment

-

33% on cost

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss

Account, except to the extent that it relates to items recognised in other comprehensive income or

directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been

enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at

the balance sheet 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 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 the timing difference.

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 other future

taxable profits.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2018 - 1 ) .

4.	TANGIBLE FIXED ASSETS

Computer

equipment

£

COST

At 1 January 2019

and 31 December 2019

1,530

DEPRECIATION

Charge for year

306

At 31 December 2019

306

NET BOOK VALUE

At 31 December 2019

1,224

At 31 December 2018

1,530

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

VAT

93

568

Prepayments and accrued income

-

1,806

93

2,374

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Other creditors

5,897

3,804

7.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2019

2018

value:

£

£

100

Ordinary

1

100

100