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Company Registration No. 06097510 (England and Wales)
People Solutions Recruitment Ltd Unaudited accounts for the year ended 31 March 2023
People Solutions Recruitment Ltd Unaudited accounts Contents
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People Solutions Recruitment Ltd Company Information for the year ended 31 March 2023
Director
C Morse
Secretary
J Morse
Company Number
06097510 (England and Wales)
Registered Office
68 Bolingbroke Grove London SW11 6HD United Kingdom
Accountants
Balmoral Consultancy Services Limited Congress House 14 Lyon Road Harrow Middlesex HA1 2EN
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People Solutions Recruitment Ltd Statement of financial position as at 31 March 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Tangible assets
1,054 
952 
Current assets
Debtors
126,349 
102,181 
Cash at bank and in hand
278,918 
276,133 
405,267 
378,314 
Creditors: amounts falling due within one year
(230,716)
(231,735)
Net current assets
174,551 
146,579 
Net assets
175,605 
147,531 
Capital and reserves
Called up share capital
1 
1 
Profit and loss account
175,604 
147,530 
Shareholders' funds
175,605 
147,531 
For the year ending 31 March 2023 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 director acknowledges her 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 and authorised for issue on 27 November 2023 and were signed on its behalf by
C Morse Director Company Registration No. 06097510
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People Solutions Recruitment Ltd Notes to the Accounts for the year ended 31 March 2023
1
Statutory information
People Solutions Recruitment Ltd is a private company, limited by shares, registered in England and Wales, registration number 06097510. The registered office is 68 Bolingbroke Grove, London, SW11 6HD, United Kingdom.
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.
Foreign currency translation
Functional and presentation currency The Company's functional and presentational currency is GBP Transactions and balances Foreign currency transactions are translated in to 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.
Turnover
Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised: Rendering of services Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied: - the amount of revenue can be measured reliably; - it is probable that the Company will receive the consideration due under the contract; - the stage of completion of the contract at the end of the reporting period can be measured reliably; and - the costs incurred and the costs to complete the contract can be measured reliably.
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People Solutions Recruitment Ltd Notes to the Accounts for the year ended 31 March 2023
Taxation
Tax is recognised in the Statement of income and retained earnings, except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively. The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.
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:
Fixtures & fittings
25% Reducing Balance Method
Debtors
Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.
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.
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.
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.
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.
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People Solutions Recruitment Ltd Notes to the Accounts for the year ended 31 March 2023
4
Tangible fixed assets
Fixtures & fittings 
£ 
Cost or valuation
At cost 
At 1 April 2022
17,748 
Additions
454 
At 31 March 2023
18,202 
Depreciation
At 1 April 2022
16,796 
Charge for the year
352 
At 31 March 2023
17,148 
Net book value
At 31 March 2023
1,054 
At 31 March 2022
952 
5
Debtors
2023 
2022 
£ 
£ 
Amounts falling due within one year
VAT
4,608 
9,261 
Trade debtors
121,169 
92,920 
Other debtors
572 
- 
126,349 
102,181 
6
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
Trade creditors
51,272 
78,522 
Taxes and social security
22,949 
3,018 
Loans from directors
154,495 
148,195 
Accruals
2,000 
2,000 
230,716 
231,735 
7
Loans to directors
Included in other creditors is an amount of £154,495 (2022: £148,195) due to the director, C Morse. This amount is unsecured, interest free and repayable on demand. During the year, dividends of £70,000 (2022: £90,000) were paid to the director, C Morse.
8
Average number of employees
During the year the average number of employees was 1 (2022: 1).
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