Silverfin false 30/04/2023 01/05/2022 30/04/2023 V J Galea 14/10/2005 03 November 2023 The principal activity of the company is IT recruitment. 05140302 2023-04-30 05140302 bus:Director1 2023-04-30 05140302 core:CurrentFinancialInstruments 2023-04-30 05140302 core:CurrentFinancialInstruments 2022-04-30 05140302 2022-04-30 05140302 core:Non-currentFinancialInstruments 2023-04-30 05140302 core:Non-currentFinancialInstruments 2022-04-30 05140302 core:ShareCapital 2023-04-30 05140302 core:ShareCapital 2022-04-30 05140302 core:CapitalRedemptionReserve 2023-04-30 05140302 core:CapitalRedemptionReserve 2022-04-30 05140302 core:RetainedEarningsAccumulatedLosses 2023-04-30 05140302 core:RetainedEarningsAccumulatedLosses 2022-04-30 05140302 core:OtherPropertyPlantEquipment 2022-04-30 05140302 core:OtherPropertyPlantEquipment 2023-04-30 05140302 bus:OrdinaryShareClass1 2023-04-30 05140302 2022-05-01 2023-04-30 05140302 bus:FullAccounts 2022-05-01 2023-04-30 05140302 bus:SmallEntities 2022-05-01 2023-04-30 05140302 bus:AuditExemptWithAccountantsReport 2022-05-01 2023-04-30 05140302 bus:PrivateLimitedCompanyLtd 2022-05-01 2023-04-30 05140302 bus:Director1 2022-05-01 2023-04-30 05140302 core:OtherPropertyPlantEquipment core:BottomRangeValue 2022-05-01 2023-04-30 05140302 core:OtherPropertyPlantEquipment core:TopRangeValue 2022-05-01 2023-04-30 05140302 2021-05-01 2022-04-30 05140302 bus:OrdinaryShareClass1 2022-05-01 2023-04-30 05140302 bus:OrdinaryShareClass1 2021-05-01 2022-04-30 iso4217:GBP xbrli:pure xbrli:shares

Company No: 05140302 (England and Wales)

NATIONWIDE PEOPLE LIMITED

Unaudited Financial Statements
For the financial year ended 30 April 2023
Pages for filing with the registrar

NATIONWIDE PEOPLE LIMITED

Unaudited Financial Statements

For the financial year ended 30 April 2023

Contents

NATIONWIDE PEOPLE LIMITED

BALANCE SHEET

As at 30 April 2023
NATIONWIDE PEOPLE LIMITED

BALANCE SHEET (continued)

As at 30 April 2023
Note 2023 2022
£ £
Current assets
Debtors 5 559,856 673,665
Cash at bank and in hand 457,376 199,260
1,017,232 872,925
Creditors: amounts falling due within one year 6 ( 186,200) ( 289,621)
Net current assets 831,032 583,304
Total assets less current liabilities 831,032 583,304
Creditors: amounts falling due after more than one year 7 ( 30,000) ( 38,261)
Net assets 801,032 545,043
Capital and reserves
Called-up share capital 8 1 1
Capital redemption reserve 2 2
Profit and loss account 801,029 545,040
Total shareholder's funds 801,032 545,043

For the financial year ending 30 April 2023 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The financial statements of Nationwide People Limited (registered number: 05140302) were approved and authorised for issue by the Director on 03 November 2023. They were signed on its behalf by:

V J Galea
Director
NATIONWIDE PEOPLE LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 April 2023
NATIONWIDE PEOPLE LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 April 2023
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

Nationwide People 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 Jubilee House Globe Business Park, Third Avenue, Marlow, SL7 1EY, 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 £.

Going concern

The director has assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The director has a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Turnover

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Taxation

Current tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively.

Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.

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

Plant and machinery etc. 2 - 5 years straight line

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.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Leases

The Company as lessee
Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.

Impairment of assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.

Financial instruments

A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument.

Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Debt instruments are subsequently measured at amortised cost.

Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment.

Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss, with the exception of hedging instruments in a designated hedging relationship. Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately.

For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets or either assessed individually or grouped on the basis of similar credit risk characteristics.

Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.

Ordinary share capital

The ordinary share capital of the Company is presented as equity.

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.

When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised in finance costs in profit or loss in the period in which it arises.

2. Critical accounting judgements and key sources of estimation uncertainty

In the application of the Company’s accounting policies, the director is required to make judgements that have a significant impact on the amounts recognised. The following are the critical judgements that the director has made in the process of applying the Company’s accounting policies and that have the most significant effect on the amounts recognised in the financial statements.

In particular, judgements have been used in determining the carrying value of Fixed Assets and in calculating deferred income.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods.

3. Employees

2023 2022
Number Number
Monthly average number of persons employed by the Company during the year, including the director 3 4

4. Tangible assets

Plant and machinery etc. Total
£ £
Cost
At 01 May 2022 15,949 15,949
At 30 April 2023 15,949 15,949
Accumulated depreciation
At 01 May 2022 15,949 15,949
At 30 April 2023 15,949 15,949
Net book value
At 30 April 2023 0 0
At 30 April 2022 0 0

5. Debtors

2023 2022
£ £
Trade debtors 528,583 594,590
Other debtors 31,273 79,075
559,856 673,665

6. Creditors: amounts falling due within one year

2023 2022
£ £
Bank loans and overdrafts 10,000 45,134
Trade creditors 11,116 90,426
Corporation tax 78,446 64,975
Other taxation and social security 77,587 67,853
Other creditors 9,051 21,233
186,200 289,621

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

2023 2022
£ £
Bank loans 30,000 38,261

8. Called-up share capital

2023 2022
£ £
Allotted, called-up and fully-paid
100 Ordinary shares of £ 0.01 each 1 1

9. Related party transactions

Transactions with the entity's director

2023 2022
£ £
Directors Loan Account (5,100) (13,955)

The above loan is repayable on demand, unsecured and provided interest free.