Company Registration No. 06254238 (England and Wales)
Six Degree People Limited
Unaudited accounts
for the year ended 31 May 2024
Six Degree People Limited
Unaudited accounts
Contents
Six Degree People Limited
Company Information
for the year ended 31 May 2024
Directors
Andrew James
Sarah Joanne Morrell
Company Number
06254238 (England and Wales)
Registered Office
71-75 Shelton Street
London
WC2H 9JQ
United Kingdom
Accountants
Agata Tobin Kalculate
Ul. Krolowej Bony 10/19
Ketrzyn
Poland
11-400
Six Degree People Limited
Statement of financial position
as at 31 May 2024
Cash at bank and in hand
(22,533)
(20,815)
Creditors: amounts falling due within one year
(20,512)
(42,306)
Net current (liabilities)/assets
(25,565)
10,573
Total assets less current liabilities
(25,559)
10,876
Creditors: amounts falling due after more than one year
(5,358)
(10,584)
Net (liabilities)/assets
(30,917)
292
Called up share capital
144
144
Profit and loss account
(31,061)
148
Shareholders' funds
(30,917)
292
For the year ending 31 May 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered 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 profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 17 October 2024 and were signed on its behalf by
Andrew James
Director
Company Registration No. 06254238
Six Degree People Limited
Notes to the Accounts
for the year ended 31 May 2024
Six Degree People Limited is a private company, limited by shares, registered in England and Wales, registration number 06254238. The registered office is 71-75 Shelton Street, London, WC2H 9JQ, United Kingdom.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
The tax expense for the period comprises current and deferred tax. Tax 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.
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Fixtures & fittings
25% straight line
Six Degree People Limited
Notes to the Accounts
for the year ended 31 May 2024
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rates of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
Investments in shares are included at fair value.
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
Government grants are recognised as income over the periods necessary to match them with the related costs which they are intended to compensate.
The director(s) is satisfied that the company has adequate resources to continue to operate for the foreseeable future. They have therefore prepared the financial statements on a going concern basis.
4
Tangible fixed assets
Fixtures & fittings
5
Investments
Subsidiary undertakings
Valuation at 1 June 2023
6
Valuation at 31 May 2024
6
Six Degree People Limited
Notes to the Accounts
for the year ended 31 May 2024
Amounts falling due within one year
Amounts falling due after more than one year
Other debtors
16,859
16,859
7
Creditors: amounts falling due within one year
2024
2023
Bank loans and overdrafts
5,226
5,096
Taxes and social security
9,538
29,666
Loans from directors
3,147
-
8
Creditors: amounts falling due after more than one year
2024
2023
9
Operating lease commitments
2024
2023
At 31 May 2024 the company had the following future minimum lease payments under non-cancellable operating leases for each of the following periods:
Not later than one year
9,305
11,103
Later than one year and not later than five years
14,734
6,477
Brought
Forward
Advance/
credit
Repaid
Carried
Forward
Loans to related party
45,426
-
48,573
(3,147)
11
Average number of employees
During the year the average number of employees was 2 (2023: 2).