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Registered number: 07739459










PENTAGON PEOPLE SERVICES LIMITED








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 DECEMBER 2021



 
PENTAGON PEOPLE SERVICES LIMITED
REGISTERED NUMBER: 07739459

STATEMENT OF FINANCIAL POSITION
AS AT 31 DECEMBER 2021

2021
2020
Note
£
£

Tangible fixed assets
 3 
-
-

  
-
-

Current assets
  

Debtors: amounts falling due within one year
 4 
-
14,278

Cash at bank and in hand
 5 
42,094
62,972

  
42,094
77,250

Current liabilities
  

Creditors: amounts falling due within one year
 6 
(36,052)
(38,579)

Net current assets
  
 
 
6,042
 
 
38,671

Net assets
  
6,042
38,671


Capital and reserves
  

Called up share capital 
 7 
1
1

Profit and loss account
  
6,041
38,670

  
6,042
38,671


For the year ended 31 December 2021 the Company was entitled to exemption from audit under section 480 of the Companies Act 2006.

Members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

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.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 

G R Corner
S L B Fedor
Director
Director
Date: 6 September 2022

The notes on pages 2 to 4 form part of these financial statements.

Page 1

 
PENTAGON PEOPLE SERVICES LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021

1.


General information

Pentagon People Services Ltd is a private company, limited by shares, registered in England and Wales. The address of its registered office is Black Mountain House, 21 St. Owen Street, Hereford, HR1 2JB.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

 
2.2

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

 
2.3

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Fixtures and fittings
-
25%
reducing balance
Computer equipment
-
25%
reducing balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.4

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

Page 2

 
PENTAGON PEOPLE SERVICES LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021

2.Accounting policies (continued)

 
2.5

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.6

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.


3.


Tangible fixed assets





Fixtures and fittings
Computer equipment
Total

£
£
£



Cost or valuation


At 1 January 2021
3,612
7,415
11,027



At 31 December 2021

3,612
7,415
11,027



Depreciation


At 1 January 2021
3,612
7,415
11,027



At 31 December 2021

3,612
7,415
11,027



Net book value



At 31 December 2021
-
-
-



At 31 December 2020
-
-
-

Page 3

 
PENTAGON PEOPLE SERVICES LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021

4.


Debtors

2021
2020
£
£


Trade debtors
-
13,878

Prepayments and accrued income
-
400

-
14,278



5.


Cash and cash equivalents

2021
2020
£
£

Cash at bank and in hand
42,094
62,972



6.


Creditors: Amounts falling due within one year

2021
2020
£
£

Trade creditors
15,035
15,045

Corporation tax
-
500

Other taxation and social security
3,388
3,425

Other creditors
17,629
19,609

36,052
38,579



7.


Share capital

2021
2020
£
£
Allotted, called up and fully paid



1 (2020 - 1) Ordinary A share of £1.00
1
1



8.


Controlling party

The Company is wholly owned by Black Mountain (International) Limited in the Group headed by Charnwood Management Limited, a company registered inHong Kong. The smallest and largest group for which group accounts including the Company are prepared is Charnwood Management Limited. Copies of the financial statements can be obtained from their registered office.


Page 4