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Registered number: 10025234












PEOPLESOLVED LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

 

PEOPLESOLVED LIMITED

CONTENTS



Page
Company Information
 
1
Balance Sheet
 
2 - 3
Notes to the Financial Statements
 
4 - 7


 

PEOPLESOLVED LIMITED
 
COMPANY INFORMATION


Director
Phillip Ronald Hill 




Registered number
10025234



Registered office
Linden Mead
Little Lane

Friston

Eastbourne

East Sussex

BN20 0BX




Accountants
Blick Rothenberg Limited
Chartered Accountants

16 Great Queen Street

Covent Garden

London

WC2B 5AH




Page 1


 
REGISTERED NUMBER:10025234
PEOPLESOLVED LIMITED

BALANCE SHEET
AS AT 29 FEBRUARY 2024

29 February
28 February
2024
2023
Note
£
£

  

Current assets
  

Debtors: amounts falling due within one year
 4 
656,653
580,674

Cash at bank and in hand
  
77,565
90,636

  
734,218
671,310

Creditors: amounts falling due within one year
 5 
(532,538)
(430,944)

Net current assets
  
 
 
201,680
 
 
240,366

Total assets less current liabilities
  
201,680
240,366

  

Net assets
  
201,680
240,366


Capital and reserves
  

Called up share capital 
 6 
120
120

Profit and loss account
  
201,560
240,246

Total equity
  
201,680
240,366


Page 2


 
REGISTERED NUMBER:10025234
PEOPLESOLVED LIMITED
    
BALANCE SHEET (CONTINUED)
AS AT 29 FEBRUARY 2024

The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the profit and loss account in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




Phillip Ronald Hill
Director

Date: 19 September 2024

The notes on pages 4 to 7 form part of these financial statements.

Page 3

 

PEOPLESOLVED LIMITED

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

1.


General information

Peoplesolved Limited is a private company limited by shares incorporated in England and Wales. The registered office is Linden Mead, Little Lane, Friston, Eastbourne, East Sussex, BN20 0BX.
The financial statements are presented in Sterling (£), which is the functional currency of the company.
Monetary amounts in these financial statements are rounded to the nearest £.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Going concern

After making enquiries, the director has a reasonable expectation that the company has adequate resources to continue in operational existence and meet its liabilities as they fall due for the foreseeable future, being a period of at least twelve months from the date these financial statements were approved. Accordingly, the company continues to adopt the going concern basis in preparing the financial statements. 

 
2.3

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is Sterling (£).

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.

  
2.4

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for services provided in the normal course of business, and is shown net of VAT and other sales related taxes.

Page 4

 

PEOPLESOLVED LIMITED

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

2.Accounting policies (continued)

 
2.5

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.6

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
2.7

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

 
2.8

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

  
2.9

Share capital

Ordinary shares are classified as equity.


3.


Employees

The average monthly number of employees, including directors, during the year was 0 (2023 - 2).

Page 5

 

PEOPLESOLVED LIMITED

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

4.


Debtors

29 February
28 February
2024
2023
£
£


Trade debtors
330,141
346,531

Amounts owed by group undertakings
289,453
226,105

Other debtors
37,059
8,038

656,653
580,674



5.


Creditors: Amounts falling due within one year

29 February
28 February
2024
2023
£
£

Trade creditors
287,006
183,044

Amounts owed to group undertakings
234,534
230,310

Corporation tax
-
8,851

Other taxation and social security
2,952
2,595

Other creditors
2
-

Accruals and deferred income
8,044
6,144

532,538
430,944



6.


Share capital

29 February
28 February
2024
2023
£
£
Allotted, called up and fully paid



120 (2023 - 120) Ordinary shares of £1.00 each
120
120


Page 6

 

PEOPLESOLVED LIMITED

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

7.


Related party transactions

Included within other debtors is an amount of £0 (2023 - £0) owed by a fellow subsidiary. The loan is not repayable on demand and is interest bearing. The amount of interest received during the year was £0  (2023 - £1,011).
Included within other debtors is an amount of £93,846 (2023 - £84,927) owed by a fellow subsidiary. The loan is not repayable on demand and is interest bearing. The amount of interest received during the year was £8,919  (2023 - £8,050).
Included within other debtors is an amount of £44,094 (2023 - £71,211) owed by a fellow subsidiary. The loan is not repayable on demand and is interest bearing. The amount of interest received during the year was £7,009  (2023 - £4,841).
Included within other debtors is an amount of £100,665 (2023 - £25,558) owed by a connected company. The loan is not repayable on demand and is interest bearing. The amount of interest received during the year was £6,039  (2023 - £5,480).
Included within other debtors is an amount of £50,848 (2023 - £44,409) owed by a fellow subsidiary. The loan is not repayable on demand and is interest bearing. The amount of interest received during the year was £6,229 (2023 - £0).
Included within other creditors is an amount of £234,534 (2023 - £230,310) owed to the parent company. The loan is not payable on demand and is interest bearing. The amount of interest paid during the year was £21,096 (2023 - £22,564).

 
Page 7