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Registration number: 07888714

Peoplesmart Learning Solutions Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 31 December 2023

 

Peoplesmart Learning Solutions Limited

Contents

Balance Sheet

1

Notes to the Unaudited Financial Statements

2 to 7

 

Peoplesmart Learning Solutions Limited

(Registration number: 07888714)
Balance Sheet as at 31 December 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

5

-

359

Current assets

 

Debtors

6

11,129

30,771

Cash at bank and in hand

 

7,184

12,322

 

18,313

43,093

Creditors: Amounts falling due within one year

7

(15,654)

(26,089)

Net current assets

 

2,659

17,004

Total assets less current liabilities

 

2,659

17,363

Creditors: Amounts falling due after more than one year

7

(10,360)

(18,143)

Provisions for liabilities

-

(68)

Net liabilities

 

(7,701)

(848)

Capital and reserves

 

Called up share capital

3

3

Retained earnings

(7,704)

(851)

Shareholders' deficit

 

(7,701)

(848)

For the financial year ending 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' 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 directors acknowledge their 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.

Approved and authorised by the Board on 5 September 2024 and signed on its behalf by:
 

Mr N Shackleton
Director

Mrs M Shackleton
Director

 
     
 

Peoplesmart Learning Solutions Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

1

General information

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

The address of its registered office is:
Parkhill Studio
Walton Road
Wetherby
West Yorkshire
LS22 5DZ
England

These financial statements were authorised for issue by the Board on 5 September 2024.

2

Accounting policies

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.

Going concern

The position of the company has been considered and reviewed by the directors as a result of Covid-19 and continues to trade as a going concern.

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.

Tax

The tax expense for the period comprises current and deferred 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.

 

Peoplesmart Learning Solutions Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Computer equipment

33% straight line

Furniture and fittings

33% straight line

Website costs

33% straight line

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.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

 

Peoplesmart Learning Solutions Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2022 - 2).

 

Peoplesmart Learning Solutions Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

4

Loss before tax

Arrived at after charging/(crediting)

2023
£

2022
£

Depreciation expense

360

359

 

Peoplesmart Learning Solutions Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

5

Tangible assets

Furniture, fittings and equipment
 £

Website
£

Total
£

Cost or valuation

At 1 January 2023

25,101

1,955

27,056

At 31 December 2023

25,101

1,955

27,056

Depreciation

At 1 January 2023

24,742

1,955

26,697

Charge for the year

359

-

359

At 31 December 2023

25,101

1,955

27,056

Carrying amount

At 31 December 2023

-

-

-

At 31 December 2022

359

-

359

6

Debtors

Current

2023
£

2022
£

Trade debtors

-

8,540

Other debtors

11,129

22,231

 

11,129

30,771

7

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Loans and borrowings

8

7,622

7,355

Taxation and social security

 

-

2,121

Other creditors

 

8,032

16,613

 

15,654

26,089

 

Peoplesmart Learning Solutions Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

Creditors: amounts falling due after more than one year

Note

2023
£

2022
£

Due after one year

 

Loans and borrowings

8

10,360

18,143

8

Loans and borrowings

Non-current loans and borrowings

2023
£

2022
£

Bank borrowings

10,360

18,143

Current loans and borrowings

2023
£

2022
£

Bank borrowings

7,622

7,355