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REGISTERED NUMBER: 06001594 (England and Wales)











Industry People (UK) Ltd

Unaudited Financial Statements

for the Year Ended 31 December 2023






Industry People (UK) Ltd (Registered number: 06001594)






Contents of the Financial Statements
for the Year Ended 31 December 2023




Page

Company information 1

Balance sheet 2

Notes to the financial statements 4


Industry People (UK) Ltd

Company Information
for the Year Ended 31 December 2023







Directors: Mrs M Currie
Miss S Coulson





Secretary: Mrs M Currie





Registered office: Suite 5, Basil Chambers
65 High Street
Manchester
M4 1FS





Registered number: 06001594 (England and Wales)





Accountants: Warr & Co Limited
Chartered Accountants
Mynshull House
78 Churchgate
Stockport
Cheshire
SK1 1YJ

Industry People (UK) Ltd (Registered number: 06001594)

Balance Sheet
31 December 2023

31.12.23 31.12.22
Notes £    £   
Fixed assets
Intangible assets 4 6,586 8,783
Tangible assets 5 4,349 3,325
10,935 12,108

Current assets
Stocks - 1,888
Debtors 6 102,288 133,229
Cash at bank and in hand 187,066 252,427
289,354 387,544
Creditors
Amounts falling due within one year 7 (141,856 ) (197,475 )
Net current assets 147,498 190,069
Total assets less current liabilities 158,433 202,177

Creditors
Amounts falling due after more than one
year

8

(15,283

)

(25,174

)

Provisions for liabilities (1,063 ) (609 )
Net assets 142,087 176,394

Industry People (UK) Ltd (Registered number: 06001594)

Balance Sheet - continued
31 December 2023

31.12.23 31.12.22
Notes £    £   
Capital and reserves
Called up share capital 158 158
Share premium 43,950 43,950
Retained earnings 97,979 132,286
Shareholders' funds 142,087 176,394

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 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.

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 Income statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 23 September 2024 and were signed on its behalf by:




Mrs M Currie - Director



Miss S Coulson - Director


Industry People (UK) Ltd (Registered number: 06001594)

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

1. Statutory information

Industry People (UK) Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. Accounting policies

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

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, being the amount paid in connection with the acquisition of a business in 2006, was previously being amortised over a period of 20 years.

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.
Plant and machinery etc - 25% on reducing balance

Stocks
Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.


Industry People (UK) Ltd (Registered number: 06001594)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

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.

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 7 (2022 - 6 ) .

4. Intangible fixed assets
Goodwill
£   
Cost
At 1 January 2023
and 31 December 2023 43,951
Amortisation
At 1 January 2023 35,168
Charge for year 2,197
At 31 December 2023 37,365
Net book value
At 31 December 2023 6,586
At 31 December 2022 8,783

Industry People (UK) Ltd (Registered number: 06001594)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

5. Tangible fixed assets
Plant and
machinery
etc
£   
Cost
At 1 January 2023 23,466
Additions 2,473
At 31 December 2023 25,939
Depreciation
At 1 January 2023 20,141
Charge for year 1,449
At 31 December 2023 21,590
Net book value
At 31 December 2023 4,349
At 31 December 2022 3,325

6. Debtors: amounts falling due within one year
31.12.23 31.12.22
£    £   
Trade debtors 79,662 109,480
Other debtors 22,626 23,749
102,288 133,229

7. Creditors: amounts falling due within one year
31.12.23 31.12.22
£    £   
Bank loans and overdrafts 9,646 9,646
Trade creditors 90,613 127,406
Taxation and social security 34,704 55,446
Other creditors 6,893 4,977
141,856 197,475

8. Creditors: amounts falling due after more than one year
31.12.23 31.12.22
£    £   
Bank loans 15,283 25,174

Industry People (UK) Ltd (Registered number: 06001594)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

9. Other financial commitments

At the end of the year the company had total commitments under operating leases of £88,381 (2022- £40,924).