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COMPANY REGISTRATION NUMBER: 05497097
People Opportunities Limited
Filleted Unaudited Financial Statements
30 November 2023
People Opportunities Limited
Balance Sheet
30 November 2023
2023
2022
Note
£
£
£
Fixed assets
Tangible assets
5
3,973
1,777
Current assets
Debtors
6
114,562
184,469
Cash at bank and in hand
174,840
231,700
---------
---------
289,402
416,169
Creditors: amounts falling due within one year
7
183,063
197,358
---------
---------
Net current assets
106,339
218,811
---------
---------
Total assets less current liabilities
110,312
220,588
---------
---------
Net assets
110,312
220,588
---------
---------
Capital and reserves
Called up share capital
100
100
Profit and loss account
110,212
220,488
---------
---------
Shareholders funds
110,312
220,588
---------
---------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the profit and loss account has not been delivered.
For the year ending 30 November 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 30 July 2024 , and are signed on behalf of the board by:
Dr E D Charles
Director
Company registration number: 05497097
People Opportunities Limited
Notes to the Financial Statements
Year ended 30 November 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is A3 Broomsleigh Business Park, Worsley Bridge Road, London, SE26 5BN.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for consultancy services rendered, net of discounts and of Value Added Tax.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Operating leases
Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Furniture and fixtures
-
33% straight line
Office equipment
-
33% straight line
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets.
Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
Defined contribution plans
The company operates defined contribution pension schemes for the director and employees. The assets of the schemes are held separately from those of the company. The annual contributions payable are charged to the profit and loss account.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 2 (2022: 2 ).
5. Tangible assets
Fixtures and fittings
Office equipment
Total
£
£
£
Cost
At 1 December 2022
10,704
10,704
Additions
465
4,162
4,627
----
--------
--------
At 30 November 2023
465
14,866
15,331
----
--------
--------
Depreciation
At 1 December 2022
8,927
8,927
Charge for the year
155
2,276
2,431
----
--------
--------
At 30 November 2023
155
11,203
11,358
----
--------
--------
Carrying amount
At 30 November 2023
310
3,663
3,973
----
--------
--------
At 30 November 2022
1,777
1,777
----
--------
--------
6. Debtors
2023
2022
£
£
Trade debtors
39,564
95,656
Other debtors
74,998
88,813
---------
---------
114,562
184,469
---------
---------
7. Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
11,929
61,141
Corporation tax
20,159
Social security and other taxes
16,093
23,669
Other creditors
134,882
112,548
---------
---------
183,063
197,358
---------
---------
8. Financial instruments
The carrying amount for each category of financial instrument is as follows:
2023
2022
£
£
Financial assets measured at fair value through profit or loss
Financial assets measured at fair value through profit or loss
285,422
398,354
---------
---------
Financial liabilities measured at fair value through profit or loss
Financial liabilities measured at fair value through profit or loss
146,910
173,790
---------
---------
9. Operating leases
The total future minimum lease payments under non-cancellable operating leases are as follows:
2023
2022
£
£
Not later than 1 year
11,550
3,837
Later than 1 year and not later than 5 years
12,181
--------
-------
23,731
3,837
--------
-------
10. Director's advances, credits and guarantees
During the year the director entered into the following advances and credits with the company:
2023
Balance brought forward
Advances/ (credits) to the director
Balance outstanding
£
£
£
Dr E D Charles
( 719)
548
( 171)
----
----
----
2022
Balance brought forward
Advances/ (credits) to the director
Balance outstanding
£
£
£
Dr E D Charles
( 190)
( 529)
( 719)
----
----
----