REGISTERED NUMBER: |
Audited Financial Statements for the Year Ended 30 June 2023 |
for |
People Places Lives Limited |
Previously known as |
Public Consulting Group UK Limited |
REGISTERED NUMBER: |
Audited Financial Statements for the Year Ended 30 June 2023 |
for |
People Places Lives Limited |
Previously known as |
Public Consulting Group UK Limited |
People Places Lives Limited (Registered number: 06654748) |
Contents of the Financial Statements |
for the Year Ended 30 June 2023 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
People Places Lives Limited |
Company Information |
for the Year Ended 30 June 2023 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
AUDITORS: |
Chartered Accountants |
Statutory Auditor |
Hazlemere |
70 Chorley New Road |
Bolton |
Lancashire |
BL1 4BY |
People Places Lives Limited (Registered number: 06654748) |
Balance Sheet |
30 June 2023 |
2023 | 2022 |
Notes | £ | £ |
FIXED ASSETS |
Intangible assets | 4 |
Tangible assets | 5 |
CURRENT ASSETS |
Debtors | 6 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 7 | ( |
) | ( |
) |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CAPITAL AND RESERVES |
Called up share capital | 9 |
Share premium | 10 |
Contributed capital | 10 |
Retained earnings | 10 | ( |
) |
SHAREHOLDERS' FUNDS |
People Places Lives Limited (Registered number: 06654748) |
Balance Sheet - continued |
30 June 2023 |
In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered. |
The financial statements were approved by the Board of Directors and authorised for issue on |
People Places Lives Limited (Registered number: 06654748) |
Notes to the Financial Statements |
for the Year Ended 30 June 2023 |
1. | STATUTORY INFORMATION |
People Places Lives Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Goodwill |
Goodwill, being the amount paid in connection with the acquisition of System Associates in 2015, is now being amortised evenly over its estimated useful life of ten years. |
Tangible fixed assets |
Short leasehold | - |
Tangible fixed assets are included at cost less depreciation and impairment. |
Trade and other receivables |
Trade and other receivables are recognised initially at fair value. Subsequent to initial recognition, they are measured at cost less impairment losses for bad and doubtful debts. |
Cash and cash equivalents |
Cash and cash equivalents comprise cash balances in hand and at bank. |
Trade and other payables |
Trade and other payables on normal terms are stated at their nominal value. |
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
Current or deferred taxation assets and liabilities are not discounted. |
Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date. |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. |
Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference. |
Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. |
People Places Lives Limited (Registered number: 06654748) |
Notes to the Financial Statements - continued |
for the Year Ended 30 June 2023 |
2. | ACCOUNTING POLICIES - continued |
Pension costs and other post-retirement benefits |
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate. |
Turnover |
Turnover represents amounts receivable exclusive of VAT for term subscriptions, setup fees and support fees. |
Term subscription income relates to the use of the company's platform software, recognised rateably over the period. |
Income from setup fees relates to the implementation of the platform software. This income is recognised on installation. |
Support fees income is from contracted levels of support over a set period, normally one year. This is recognised rateably over the period. |
Intangible fixed assets and amortisation |
Contracts in writing are included at cost less accumulated amortisation and accumulated impairment loss, if any. Amortisation is calculated evenly over its estimated useful life of 4 years. |
Going concern |
No material uncertainties, that cast significant doubt about the ability of the company to continue in operational existence for the foreseeable future, have been identified by the directors. |
Thus they continue to adopt the going concern basis of accounting in preparing the annual financial statements. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
4. | INTANGIBLE FIXED ASSETS |
Goodwill |
£ |
COST |
At 1 July 2022 |
and 30 June 2023 |
AMORTISATION |
At 1 July 2022 |
Amortisation for year |
At 30 June 2023 |
NET BOOK VALUE |
At 30 June 2023 |
At 30 June 2022 |
People Places Lives Limited (Registered number: 06654748) |
Notes to the Financial Statements - continued |
for the Year Ended 30 June 2023 |
5. | TANGIBLE FIXED ASSETS |
Short |
leasehold |
£ |
COST |
At 1 July 2022 |
Disposals | ( |
) |
At 30 June 2023 |
DEPRECIATION |
At 1 July 2022 |
Eliminated on disposal | ( |
) |
At 30 June 2023 |
NET BOOK VALUE |
At 30 June 2023 |
At 30 June 2022 |
6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Trade debtors |
Amounts owed by group undertakings |
Other debtors |
Tax |
VAT |
Prepayments and accrued income |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Trade creditors |
Tax |
Social security and other taxes |
VAT | 43,185 | - |
Other creditors |
Accruals and deferred income |
8. | LEASING AGREEMENTS |
Minimum lease payments under non-cancellable operating leases fall due as follows: |
2023 | 2022 |
£ | £ |
Within one year |
Between one and five years |
People Places Lives Limited (Registered number: 06654748) |
Notes to the Financial Statements - continued |
for the Year Ended 30 June 2023 |
9. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2023 | 2022 |
value: | £ | £ |
Ordinary 1/3rd of a pence | £0.00 | 3333 | 200 | 200 |
10. | RESERVES |
Retained | Share | Contributed |
earnings | premium | capital | Totals |
£ | £ | £ | £ |
At 1 July 2022 | ( |
) | 1,542,016 |
Profit for the year |
Cash share issue | - | - | (4,605,852 | ) | (4,605,852 | ) |
Cancellation of shares | 5,205,752 | (599,900 | ) | - | 4,605,852 |
At 30 June 2023 | 1,564,655 |
11. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
The Report of the Auditors was unqualified. |
for and on behalf of |
12. | POST BALANCE SHEET EVENTS |
On the 2nd August 2023, PCG UK Holdings LLC completed a sale of PCG UK Holdings Limited and it's subsidiary, Public Consulting Group UK Limited, to Elzane Holdings Limited. |
Prior to the sale of the company, a significant amount was received from the sale of its computer software and a significant dividend was paid to PCG UK Holdings Ltd. |
There have been no adjustments made within the accounts for the year-ended 30th June 2023, as none are deemed necessary. |
13. | ULTIMATE PARENT UNDERTAKING AND CONTROLLING PARTY |
As at 30 June 2023, the Company's immediate parent company is PCG UK Holdings Limited, a company incorporated in the United Kingdom. The ultimate parent company is Public Consulting Group Holdings, Inc., a company incorporated in the United States of America. In the opinion of the Directors the ultimate controlling party is William Mosakowski. |
The registered office and that of its principal place of business is 1 Smithy Court, Smithy Brook Road, Wigan, WN3 6PS, England. |