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REGISTERED NUMBER: 05740509 (United Kingdom)















Unaudited Financial Statements for the Year Ended 31 March 2024

for

VILLAGE PEOPLE LIMITED

VILLAGE PEOPLE LIMITED (REGISTERED NUMBER: 05740509)

Contents of the Financial Statements
for the Year Ended 31 March 2024










Page

Balance Sheet 1

Notes to the Financial Statements 3


VILLAGE PEOPLE LIMITED (REGISTERED NUMBER: 05740509)

Balance Sheet
31 March 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 17,362 21,767
17,362 21,767

CURRENT ASSETS
Debtors 6 187,846 276,121
Cash at bank 10,247 7,802
198,093 283,923
CREDITORS
Amounts falling due within one year 7 236,748 286,315
NET CURRENT LIABILITIES (38,655 ) (2,392 )
TOTAL ASSETS LESS CURRENT LIABILITIES (21,293 ) 19,375

CREDITORS
Amounts falling due after more than one year 8 (63,803 ) (109,894 )

PROVISIONS FOR LIABILITIES (3,159 ) (4,115 )
NET LIABILITIES (88,255 ) (94,634 )

CAPITAL AND RESERVES
Called up share capital 10 100 100
Retained earnings (88,355 ) (94,734 )
(88,255 ) (94,634 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

VILLAGE PEOPLE LIMITED (REGISTERED NUMBER: 05740509)

Balance Sheet - continued
31 March 2024


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

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 17 July 2024 and were signed on its behalf by:





Ms K Stanford - Director


VILLAGE PEOPLE LIMITED (REGISTERED NUMBER: 05740509)

Notes to the Financial Statements
for the Year Ended 31 March 2024


1. STATUTORY INFORMATION

Village People Limited is a private company, limited by shares , registered in United Kingdom. The company's registered number and registered office address are as below:

Registered number: 05740509

Registered office: Unit 3
Tram Road
Pontllanfraith
Blackwood
NP12 2LA

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
During the financial period, the company made a profit of £6,379 (2023: £95,024) and as at 31st March 2024, had net liabilities of £88,355 (2023: £94,634).

The company has the continued support of the directors and its financial institutions, therefore the directors consider is appropriate to prepare the financial statements on a going concern basis.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 25% on reducing balance

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.

VILLAGE PEOPLE LIMITED (REGISTERED NUMBER: 05740509)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024


2. ACCOUNTING POLICIES - continued

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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 35 (2023 - 51 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 April 2023
and 31 March 2024 300,000
AMORTISATION
At 1 April 2023
and 31 March 2024 300,000
NET BOOK VALUE
At 31 March 2024 -
At 31 March 2023 -

VILLAGE PEOPLE LIMITED (REGISTERED NUMBER: 05740509)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024


5. TANGIBLE FIXED ASSETS
Fixtures
and
fittings
£   
COST
At 1 April 2023 102,935
Additions 1,127
At 31 March 2024 104,062
DEPRECIATION
At 1 April 2023 81,168
Charge for year 5,532
At 31 March 2024 86,700
NET BOOK VALUE
At 31 March 2024 17,362
At 31 March 2023 21,767

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 190 87,711
Other debtors 187,656 188,410
187,846 276,121

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts (see note 9) 46,007 51,608
Social security and other taxes 179,127 153,044
Other creditors 6,790 77,703
Accruals and deferred income 4,824 3,960
236,748 286,315

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans (see note 9) 63,803 109,894

VILLAGE PEOPLE LIMITED (REGISTERED NUMBER: 05740509)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024


9. LOANS

An analysis of the maturity of loans is given below:

2024 2023
£    £   
Amounts falling due within one year or on demand:
Bank loans 46,007 51,608

Amounts falling due between two and five years:
Bank loans - due in more than
one year 63,803 109,894
63,803 109,894

10. CALLED UP SHARE CAPITAL

Allotted and issued:

Number: Class: NominalValue 2024 2023
£ £

4,250 Ordinary 1p 42.50 42.50
4,250 Ordinary A 1p 42.50 42.50
500 Ordinary B 1p 5.00 5
500 Ordinary C 1p 5.00 5
500 Ordinary D 1p 5.00 5
100.00 100.00