Influential People Limited
Unaudited Financial Statements
For the year ended 31 December 2021
For Filing with Registrar
Company Registration No. 09313459 (England and Wales)
Influential People Limited
Company Information
Directors
A Richardson
J Simpson
Company number
09313459
Registered office
11 Hollingworth Court
Turkey Mill
Ashford Road
Maidstone
Kent
United Kingdom
ME14 5PP
Accountants
Moore Kingston Smith LLP
Orbital House
20 Eastern Road
Romford
Essex
RM1 3PJ
Influential People Limited
Contents
Page
Balance sheet
1
Notes to the financial statements
2 - 5
Influential People Limited
Balance Sheet
As at 31 December 2021
Page 1
2021
2020
Notes
£
£
£
£
Current assets
Debtors
4
90,944
38,585
Cash at bank and in hand
4,537
50,923
95,481
89,508
Creditors: amounts falling due within one year
5
(68,836)
(62,064)
Net current assets
26,645
27,444
Creditors: amounts falling due after more than one year
6
(45,000)
Net assets/(liabilities)
26,645
(17,556)
Capital and reserves
Called up share capital
7
100
100
Profit and loss reserves
26,545
(17,656)
Total equity
26,645
(17,556)
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true
For the financial year ended 31 December 2021 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved by the board of directors and authorised for issue on 7 September 2022 and are signed on its behalf by:
A Richardson
Director
Company Registration No. 09313459
Influential People Limited
Notes to the Financial Statements
For the year ended 31 December 2021
Page 2
1
Accounting policies
Company information
Influential People Limited is a private company limited by shares incorporated in England and Wales. The registered office is 11 Hollingworth Court, Turkey Mill, Ashford Road, Maidstone, Kent, United Kingdom, ME14 5PP.
1.1
Accounting convention
These financial statements have been prepared in accordance with Section 1A of FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared on the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Going concern
At the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for thetrue foreseeable future and for a period of at least twelve months following the approval of these financial statements. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.
1.3
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.
1.4
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Computer equipment
25% Straight Line
1.5
Cash and cash equivalents
Cash at bank and in hand are basic financial assets and include cash in hand and deposits held at call with banks.
1.6
Financial instruments
All of the company's financial assets and liabilities are basic and measured at amortised cost.
1.7
Taxation
The tax expense represents the sum of the tax currently payable.
Influential People Limited
Notes to the Financial Statements (Continued)
For the year ended 31 December 2021
1
Accounting policies
(Continued)
Page 3
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
1.8
Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
1.9
Government grants
Government grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received.
A grant that specifies performance conditions is recognised in income when the performance conditions are met. Where a grant does not specify performance conditions it is recognised in income when the proceeds are received or receivable. A grant received before the recognition criteria are satisfied is recognised as a liability.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was 2 (2020: 3). The costs of salaries and wages in the accounts also includes amounts recharged from Influential Software Services Limited, a company related by virtue of common ownership.
3
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 January 2021 and 31 December 2021
383
Depreciation and impairment
At 1 January 2021 and 31 December 2021
383
Carrying amount
At 31 December 2021
At 31 December 2020
Influential People Limited
Notes to the Financial Statements (Continued)
For the year ended 31 December 2021
Page 4
4
Debtors
2021
2020
Amounts falling due within one year:
£
£
Trade debtors
88,742
37,642
Amounts owed by group undertakings
943
Other debtors
2,202
90,944
38,585
5
Creditors: amounts falling due within one year
2021
2020
£
£
Bank loans
5,000
Trade creditors
8,102
408
Amounts owed to group undertakings
47,544
40,217
Corporation tax
10,392
11,354
Other taxation and social security
798
1,390
Other creditors
2,000
3,695
68,836
62,064
Influential People Limited
Notes to the Financial Statements (Continued)
For the year ended 31 December 2021
Page 5
6
Creditors: amounts falling due after more than one year
2021
2020
£
£
Bank loans and overdrafts
45,000
The bank loan, which was repaid in full during the year, was unsecured with a loan term of 6 years and was repayable by instalments after the first 12 months. Interest was being charged at 0% for the first 12 months and at 2.5% for subsequent years.
7
Called up share capital
2021
2020
£
£
Ordinary share capital
Issued and fully paid
100 Ordinary Shares of £1 each
100
100
8
Control
The immediate and ultimate parent company is Influential (Holdings) Limited, a company incorporated in England and Wales. The parent company does not prepare group financial statements as the group is considered to be small.
Influential (Holdings) Limited is not under the control of any one entity or individual.
9
Related party transactions
At 31 December 2021 creditors falling due in less than one year includes an amount of £44,239 (2020: £40,217) payable to Influential (Holdings) Limited, the parent company. Interest is charged on this loan at 10% per annum and the charge for the year amounts to £4,022 (2020: £1,220).
The company is related to Influential Software Services Limited ("ISS") by virtue of common control.
During the year under review the company charged revenue of £65,644 (2020: £43,877) to, and incurred expenses of £53,796 (2020: £92,534) from Influential Software Services Limited.
At 31 December 2021, trade debtors includes an amount of £58,885 (2020: £36,304) due from Influential Software Services Limited. Also, included in other creditors is an amount of £3,305 (2020: £943 in other debtors) due to Influential Software Services Limited.