1 January 2022 false No description of principal activity Taxfiler 2023.10 04009799business:PrivateLimitedCompanyLtd2022-01-012022-12-31 040097992021-12-31 040097992022-01-012022-12-31 04009799business:AuditExemptWithAccountantsReport2022-01-012022-12-31 04009799business:FilletedAccounts2022-01-012022-12-31 040097992022-12-31 04009799business:Director12022-01-012022-12-31 04009799business:Director22022-01-012022-12-31 04009799business:RegisteredOffice2022-01-012022-12-31 040097992021-12-31 04009799core:WithinOneYear2022-12-31 04009799core:WithinOneYear2021-12-31 04009799core:AfterOneYear2022-12-31 04009799core:AfterOneYear2021-12-31 04009799core:ShareCapitalcore:PreviouslyStatedAmount2022-12-31 04009799core:ShareCapitalcore:PreviouslyStatedAmount2021-12-31 04009799core:CapitalRedemptionReservecore:PreviouslyStatedAmount2022-12-31 04009799core:CapitalRedemptionReservecore:PreviouslyStatedAmount2021-12-31 04009799core:RetainedEarningsAccumulatedLossescore:PreviouslyStatedAmount2022-12-31 04009799core:RetainedEarningsAccumulatedLossescore:PreviouslyStatedAmount2021-12-31 04009799core:PreviouslyStatedAmount2022-12-31 04009799core:PreviouslyStatedAmount2021-12-31 04009799business:SmallEntities2022-01-012022-12-31 04009799countries:EnglandWales2022-01-012022-12-31 04009799core:LandBuildings2022-01-012022-12-31 04009799core:PlantMachinery2022-01-012022-12-31 04009799core:Goodwill2021-12-31 04009799core:Goodwill2022-12-31 04009799core:LandBuildings2021-12-31 04009799core:PlantMachinery2021-12-31 04009799core:MotorVehicles2021-12-31 04009799core:FurnitureFittings2021-12-31 04009799core:ComputerEquipment2021-12-31 04009799core:MotorVehicles2022-01-012022-12-31 04009799core:FurnitureFittings2022-01-012022-12-31 04009799core:ComputerEquipment2022-01-012022-12-31 04009799core:LandBuildings2022-12-31 04009799core:PlantMachinery2022-12-31 04009799core:MotorVehicles2022-12-31 04009799core:FurnitureFittings2022-12-31 04009799core:ComputerEquipment2022-12-31 040097992021-01-012021-12-31 iso4217:GBP xbrli:pure
Company Registration No. 04009799 (England and Wales)
Tomorrow People Limited Unaudited accounts for the year ended 31 December 2022
Tomorrow People Limited Unaudited accounts Contents
Page
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Tomorrow People Limited Company Information for the year ended 31 December 2022
Directors
Steven Walls Alistair Norman
Company Number
04009799 (England and Wales)
Registered Office
Grosvenor House 11 St. Pauls Square Birmingham West Midlands B3 1RB
Accountants
Caseron Cloud Accounting Ltd 7 Swallow Drive Stowmarket Suffolk IP14 5BY
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Tomorrow People Limited Statement of financial position as at 31 December 2022
2022 
2021 
Notes
£ 
£ 
Fixed assets
Tangible assets
243,700 
44,336 
Current assets
Debtors
632,196 
945,651 
Cash at bank and in hand
992,708 
932,259 
1,624,904 
1,877,910 
Creditors: amounts falling due within one year
(622,047)
(982,778)
Net current assets
1,002,857 
895,132 
Total assets less current liabilities
1,246,557 
939,468 
Creditors: amounts falling due after more than one year
(147,343)
- 
Provisions for liabilities
Deferred tax
(47,186)
(5,847)
Net assets
1,052,028 
933,621 
Capital and reserves
Called up share capital
2,238 
2,238 
Capital redemption reserve
46 
46 
Profit and loss account
1,049,744 
931,337 
Shareholders' funds
1,052,028 
933,621 
For the year ending 31 December 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered 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 profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 7 November 2023 and were signed on its behalf by
Alistair Norman Director Company Registration No. 04009799
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Tomorrow People Limited Notes to the Accounts for the year ended 31 December 2022
1
Statutory information
Tomorrow People Limited is a private company, limited by shares, registered in England and Wales, registration number 04009799. The registered office is Grosvenor House, 11 St. Pauls Square, Birmingham, West Midlands, B3 1RB.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Inventories
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
Intangible fixed assets
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Land & buildings
25% straight line
Plant & machinery
25% on reducing balance
Tax
The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income. The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.
Deferred taxation
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.
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Tomorrow People Limited Notes to the Accounts for the year ended 31 December 2022
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
Trade debtors
Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business. Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.
Trade creditors
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities. Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.
Foreign exchange
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rates of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
4
Intangible fixed assets
Goodwill 
£ 
Cost
At 1 January 2022
15,000 
At 31 December 2022
15,000 
Amortisation
At 1 January 2022
15,000 
At 31 December 2022
15,000 
Net book value
At 31 December 2022
- 
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Tomorrow People Limited Notes to the Accounts for the year ended 31 December 2022
5
Tangible fixed assets
Land & buildings 
Plant & machinery 
Motor vehicles 
Fixtures & fittings 
Computer equipment 
Total 
£ 
£ 
£ 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At cost 
At cost 
At cost 
At 1 January 2022
16,738 
- 
- 
36,924 
75,014 
128,676 
Additions
- 
773 
216,928 
- 
7,144 
224,845 
At 31 December 2022
16,738 
773 
216,928 
36,924 
82,158 
353,521 
Depreciation
At 1 January 2022
3,178 
- 
- 
16,647 
64,515 
84,340 
Charge for the year
4,184 
107 
12,522 
5,069 
3,599 
25,481 
At 31 December 2022
7,362 
107 
12,522 
21,716 
68,114 
109,821 
Net book value
At 31 December 2022
9,376 
666 
204,406 
15,208 
14,044 
243,700 
At 31 December 2021
13,560 
- 
- 
20,277 
10,499 
44,336 
6
Debtors
2022 
2021 
£ 
£ 
Amounts falling due within one year
Trade debtors
512,737 
906,050 
Accrued income and prepayments
7,768 
38,821 
Other debtors
111,691 
780 
632,196 
945,651 
7
Creditors: amounts falling due within one year
2022 
2021 
£ 
£ 
Bank loans and overdrafts
189,459 
377,335 
VAT
68,215 
131,218 
Trade creditors
41,964 
22,765 
Taxes and social security
95,681 
218,515 
Other creditors
197,507 
163,792 
Loans from directors
3,596 
45,153 
Accruals
25,625 
24,000 
622,047 
982,778 
8
Creditors: amounts falling due after more than one year
2022 
2021 
£ 
£ 
Obligations under finance leases and hire purchase contracts
147,343 
- 
9
Average number of employees
During the year the average number of employees was 18 (2021: 16).
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