People Access Ltd 07610298 true 2022-05-01 2023-04-30 2023-04-30 The principal activity of the company is that of providing telephone and internet connections Digita Accounts Production Advanced 6.30.9574.0 true 07610298 2022-05-01 2023-04-30 07610298 2023-04-30 07610298 bus:OrdinaryShareClass1 2023-04-30 07610298 core:CurrentFinancialInstruments 2023-04-30 07610298 core:CurrentFinancialInstruments core:WithinOneYear 2023-04-30 07610298 core:Non-currentFinancialInstruments 2023-04-30 07610298 core:Non-currentFinancialInstruments core:AfterOneYear 2023-04-30 07610298 bus:SmallEntities 2022-05-01 2023-04-30 07610298 bus:AuditExemptWithAccountantsReport 2022-05-01 2023-04-30 07610298 bus:FullAccounts 2022-05-01 2023-04-30 07610298 bus:SmallCompaniesRegimeForAccounts 2022-05-01 2023-04-30 07610298 bus:RegisteredOffice 2022-05-01 2023-04-30 07610298 bus:Director6 2022-05-01 2023-04-30 07610298 bus:OrdinaryShareClass1 2022-05-01 2023-04-30 07610298 bus:EntityNoLongerTradingButTradedInPast 2022-05-01 2023-04-30 07610298 bus:PrivateLimitedCompanyLtd 2022-05-01 2023-04-30 07610298 countries:England 2022-05-01 2023-04-30 07610298 2021-05-01 2022-04-30 07610298 2022-04-30 07610298 bus:OrdinaryShareClass1 2022-04-30 07610298 core:CurrentFinancialInstruments 2022-04-30 07610298 core:CurrentFinancialInstruments core:WithinOneYear 2022-04-30 07610298 core:Non-currentFinancialInstruments 2022-04-30 07610298 core:Non-currentFinancialInstruments core:AfterOneYear 2022-04-30 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 07610298

People Access Ltd

Annual Report and Unaudited Financial Statements

for the Year Ended 30 April 2023

 

People Access Ltd

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 6

 

People Access Ltd

Company Information

Director

Mr Naveen Stephen

Registered office

173 Watling Street
Towcester
NN12 6BX

Accountants

KRW Accountants Ltd
Chartered Accountants & Tax Advisers
The Mill
Pury Hill Business Park
Alderton Road
Towcester
NN12 7LS

 

People Access Ltd

(Registration number: 07610298)
Balance Sheet as at 30 April 2023

Note

2023
£

2022
£

Current assets

 

Stocks

4

11,000

-

Debtors

5

14,925

14,925

Cash at bank and in hand

 

3,351

15,206

 

29,276

30,131

Creditors: Amounts falling due within one year

6

(8,713)

(7,449)

Total assets less current liabilities

 

20,563

22,682

Creditors: Amounts falling due after more than one year

6

(4,267)

(5,867)

Net assets

 

16,296

16,815

Capital and reserves

 

Called up share capital

15,000

15,000

Retained earnings

1,296

1,815

Shareholders' funds

 

16,296

16,815

For the financial year ending 30 April 2023 the company was entitled to exemption from audit under section 480 of the Companies Act 2006 relating to dormant companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 30 January 2024
 

.........................................
Mr Naveen Stephen
Director

 

People Access Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2023

1

General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
173 Watling Street
Towcester
NN12 6BX

These financial statements were authorised for issue by the director on 30 January 2024.

The company registration number is 07610298

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

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.

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.

 

People Access Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2023

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. The company subsequently considers the recoverable value of the trade debtors. When assessing impairment of trade debtors, management considers factors including the current credit rating of the debtor, the ageing profile of debtors and historical experience.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

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.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 0 (2022 - 0).

 

People Access Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2023

4

Stocks

2023
£

2022
£

Other inventories

11,000

-

5

Debtors

Current

2023
£

2022
£

Other debtors

14,925

14,925

 

14,925

14,925

6

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Loans and borrowings

8

1,600

1,600

Trade creditors

 

900

1,350

Taxation and social security

 

932

1,054

Accruals and deferred income

 

2,500

1,600

Other creditors

 

2,781

1,845

 

8,713

7,449

Creditors: amounts falling due after more than one year

Note

2023
£

2022
£

Due after one year

 

Loans and borrowings

8

4,267

5,867

7

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary shares of £1 each

15,000

15,000

15,000

15,000

         
 

People Access Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2023

8

Loans and borrowings

2023
£

2022
£

Non-current loans and borrowings

Bank borrowings

4,267

5,867

2023
£

2022
£

Current loans and borrowings

Bank borrowings

1,600

1,600