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REGISTERED NUMBER: 12428531 (England and Wales)















Unaudited Financial Statements for the Year Ended 31st January 2024

for

Purposepeople Ltd

Purposepeople Ltd (Registered number: 12428531)






Contents of the Financial Statements
for the Year Ended 31st January 2024




Page

Balance Sheet 1

Notes to the Financial Statements 2


Purposepeople Ltd (Registered number: 12428531)

Balance Sheet
31st January 2024

31.1.24 31.1.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 1,661 2,491

CURRENT ASSETS
Debtors 5 43,996 12,210
Cash at bank 51,365 10,306
95,361 22,516
CREDITORS
Amounts falling due within one year 6 96,735 24,932
NET CURRENT LIABILITIES (1,374 ) (2,416 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

287

75

CAPITAL AND RESERVES
Called up share capital 8 2 2
Retained earnings 285 73
SHAREHOLDERS' FUNDS 287 75

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st January 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st January 2024 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 31st October 2024 and were signed on its behalf by:





Mrs N C Green - Director


Purposepeople Ltd (Registered number: 12428531)

Notes to the Financial Statements
for the Year Ended 31st January 2024

1. COMPANY INFORMATION

Purposepeople Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 12428531

Registered office: 2 Beclands Road
London
SW17 9TJ

The presentation currency of the financial statements is the Pound Sterling (£).


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.

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. 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 financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Revenue from contracts for the provision of professional services is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. The stage of completion is calculated by comparing costs incurred, mainly in relation to contractual hourly staff rates and materials, as a proportion of total costs. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that it is probable will be recovered.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Tangible fixed assets are included at cost less depreciation and impairment. Depreciation has been computed to write off the cost of tangible fixed assets over their expected useful lives on the following bases:

Computers 25% straight line

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.


Purposepeople Ltd (Registered number: 12428531)

Notes to the Financial Statements - continued
for the Year Ended 31st January 2024

2. ACCOUNTING POLICIES - continued
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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 3 (2023 - 3 ) .

4. TANGIBLE FIXED ASSETS
Computer
equipment
£   
COST
At 1st February 2023
and 31st January 2024 3,322
DEPRECIATION
At 1st February 2023 831
Charge for year 830
At 31st January 2024 1,661
NET BOOK VALUE
At 31st January 2024 1,661
At 31st January 2023 2,491

Purposepeople Ltd (Registered number: 12428531)

Notes to the Financial Statements - continued
for the Year Ended 31st January 2024

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.24 31.1.23
£    £   
Trade debtors 3,758 3,375
S455 recoverable 2,218 2,218
Directors' current accounts 38,020 6,617
43,996 12,210

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.24 31.1.23
£    £   
Bank loans and overdrafts 50,000 -
Trade creditors - (1 )
Tax 42,298 19,047
s455 payable 2,218 3,322
Social security and other taxes - 464
Other creditors 14 -
Accrued expenses 2,205 2,100
96,735 24,932

7. SECURED DEBTS

The following secured debts are included within creditors:

31.1.24 31.1.23
£    £   
Bank loans 50,000 -

Bank loans are secured by an all assets debenture including a fixed and floating charge over all property and undertakings of the company.

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.1.24 31.1.23
value: £    £   
2 Ordinary 1 2 2

9. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31st January 2024 and 31st January 2023:

31.1.24 31.1.23
£    £   
Mrs N C Green
Balance outstanding at start of year 2,852 (3,321 )
Amounts advanced 55,688 6,485
Amounts repaid (41,812 ) (312 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 16,728 2,852

Purposepeople Ltd (Registered number: 12428531)

Notes to the Financial Statements - continued
for the Year Ended 31st January 2024

9. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES - continued

Mrs J T Martin
Balance outstanding at start of year 3,765 4,540
Amounts advanced 61,932 30,287
Amounts repaid (44,404 ) (31,062 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 21,293 3,765

Dividends totalling £67,500 (2022 - £26,500) were paid in the year in respect of shares held by the company's directors.

10. ULTIMATE CONTROLLING PARTY

The controlling party is the directors.