REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 |
FOR |
THE HEALTH & SAFETY PEOPLE LIMITED |
REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 |
FOR |
THE HEALTH & SAFETY PEOPLE LIMITED |
THE HEALTH & SAFETY PEOPLE LIMITED (REGISTERED NUMBER: 02730817) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MARCH 2024 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
THE HEALTH & SAFETY PEOPLE LIMITED |
COMPANY INFORMATION |
FOR THE YEAR ENDED 31 MARCH 2024 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Accountants |
Argent House |
5 Goldington Road |
Bedford |
Bedfordshire |
MK40 3JY |
THE HEALTH & SAFETY PEOPLE LIMITED (REGISTERED NUMBER: 02730817) |
BALANCE SHEET |
31 MARCH 2024 |
31.3.24 | 31.3.23 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
CURRENT ASSETS |
Debtors | 5 |
Prepayments and accrued income |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 6 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
7 |
( |
) |
( |
) |
PROVISIONS FOR LIABILITIES | 9 | ( |
) |
ACCRUALS AND DEFERRED INCOME | ( |
) | ( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Capital redemption reserve |
Retained earnings |
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 HEALTH & SAFETY PEOPLE LIMITED (REGISTERED NUMBER: 02730817) |
BALANCE SHEET - continued |
31 MARCH 2024 |
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 |
THE HEALTH & SAFETY PEOPLE LIMITED (REGISTERED NUMBER: 02730817) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MARCH 2024 |
1. | STATUTORY INFORMATION |
The Health & Safety People Limited is a |
The presentation currency of the financial statements is the Pound Sterling (£). |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Significant judgements and estimates |
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. |
Significant judgements: |
The judgements (apart from those involving estimations) that management has made in the process of applying the entity's accounting policies and that have the most significant effect on the amounts recognised in the financial statements are as follows: |
Key sources of estimation uncertainty: |
Accounting estimates and assumptions are made concerning the future and, by their nature, will rarely equal the related actual outcome. The key assumptions and other sources of estimation uncertainty that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are as follows: |
1) Depreciation charge: |
The annual depreciation charge for each class of tangible fixed asset is based on an estimate of the useful economic life of the respective asset. This is reviewed periodically by the directors to ensure that they reflect both the external and internal factors. |
2) Dilapidations: |
These are provided for when there is a net present obligation arising from a past event; it is probable that an outflow of resources embodying economic benefits will be required to settle the obligation and a reliable estimate can be made of the amount of the obligation. These are periodically reviewed by the directors to ensure that the criteria is met. |
Turnover |
Revenue recognition |
Turnover derives from: |
- provision of health and safety consultancy services. |
All turnover originates from the United Kingdom. |
Revenue is measured at the fair value of the consideration received or receivable and represents the amount receivable for services rendered, net of returns and value added tax. |
Supplies of services: |
Revenue is recognised in the accounting period in which the services are rendered to the customer when the outcome of a contract for services can be estimated reliably. |
THE HEALTH & SAFETY PEOPLE LIMITED (REGISTERED NUMBER: 02730817) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2024 |
2. | ACCOUNTING POLICIES - continued |
Tangible fixed assets |
Fixtures and fittings | - |
Motor vehicles | - |
Computer equipment | - |
Financial instruments |
Financial instruments are classified and accounted for according to the substance of the contractual arrangement, as either financial assets or financial liabilities. |
The company holds basic financial instruments as defined in FRS102. The financial assets and financial liabilities of the company and their measurement basis are as follows: |
Financial assets - trade and other debtors are basic financial instruments and are debt instruments measured at amortised cost. Prepayments are not financial instruments. Cash at bank is classified as a basic financial instrument and is measured at amortised cost. |
Financial liabilities - trade creditors, accruals and other creditors are financial instruments, and are measured at amortised cost. Taxation and social security are not included in the financial instruments disclosure definition. |
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 |
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter. |
The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability. |
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease. |
THE HEALTH & SAFETY PEOPLE LIMITED (REGISTERED NUMBER: 02730817) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2024 |
2. | ACCOUNTING POLICIES - continued |
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. |
Impairment |
Assets not measured at fair value are reviewed for any indication that the asset may be impaired at each balance sheet date. If such indication exists, the recoverable amount of the asset, or the asset's cash generating unit, is estimated and compared to the carrying amount. Where the carrying amount exceeds its recoverable amount, an impairment loss is recognised in profit or loss unless the asset is carried at a revalued amount where the impairment loss is a revaluation decrease. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
4. | TANGIBLE FIXED ASSETS |
Fixtures |
and | Motor | Computer |
fittings | vehicles | equipment | Totals |
£ | £ | £ | £ |
COST |
At 1 April 2023 |
Additions |
Disposals | ( |
) | ( |
) | ( |
) |
At 31 March 2024 |
DEPRECIATION |
At 1 April 2023 |
Charge for year |
Eliminated on disposal | ( |
) | ( |
) |
At 31 March 2024 |
NET BOOK VALUE |
At 31 March 2024 |
At 31 March 2023 |
THE HEALTH & SAFETY PEOPLE LIMITED (REGISTERED NUMBER: 02730817) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2024 |
4. | TANGIBLE FIXED ASSETS - continued |
Fixed assets, included in the above, which are held under hire purchase contracts are as follows: |
Motor |
vehicles |
£ |
COST |
At 1 April 2023 |
Additions |
Disposals | ( |
) |
At 31 March 2024 |
DEPRECIATION |
At 1 April 2023 |
Charge for year |
At 31 March 2024 |
NET BOOK VALUE |
At 31 March 2024 |
At 31 March 2023 |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.3.24 | 31.3.23 |
£ | £ |
Trade debtors |
Amounts owed by group undertakings |
Other debtors |
Deferred tax asset |
The deferred tax asset arises from the interaction of the capital allowance and deprecation on the fixed asset purchases. The directors have recognised the asset as they believe will be relievable against future profits. |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.3.24 | 31.3.23 |
£ | £ |
Hire purchase contracts |
Trade creditors |
Tax |
Social security and other taxes |
Pensions | 13,243 | 11,537 |
VAT | 118,025 | 118,967 |
Other creditors |
Credit card | 11,768 | 10,060 |
THE HEALTH & SAFETY PEOPLE LIMITED (REGISTERED NUMBER: 02730817) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2024 |
7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
31.3.24 | 31.3.23 |
£ | £ |
Hire purchase contracts |
8. | SECURED DEBTS |
Hire purchase contracts are secured on the assets concerned. |
9. | PROVISIONS FOR LIABILITIES |
31.3.23 |
£ |
Deferred tax |
Accelerated capital allowances |
Other timing differences | (347 | ) |
938 |
Deferred |
tax |
£ |
Balance at 1 April 2023 |
Credit to Statement of Income and Retained Earnings during year | ( |
) |
Accelerated capital allowances | (5,336 | ) |
Balance at 31 March 2024 | ( |
) |
10. | OTHER FINANCIAL COMMITMENTS |
Financial commitments are recognised in relation to operating leases for the rental of the business premises and the rentals of motor vehicles. |
Future minimum rentals payable under non-cancellable operating leases as at 31 March 2024 are as follows: |
2024 | 2023 |
£ | £ |
Within one year | 59,389 | 30,348 |
After one year but not more than five years | 69,919 | - |
129,308 | 30,348 |
THE HEALTH & SAFETY PEOPLE LIMITED (REGISTERED NUMBER: 02730817) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2024 |
11. | RELATED PARTY DISCLOSURES |
During the year ended 31 March 2022, 70% of the ordinary shareholding was sold to Our THSP Limited under an Employee Ownership Trust scheme. The following payments were made on behalf of Our THSP Limited during the year: |
2024 | 2023 |
£ | £ |
Payments to shareholders for purchase of shares | 214,400 | 214,400 |
214,400 | 214,400 |
As at 31 March 2024 an amount was owed to the company by Our THSP Limited amounting to £936,660 (2023: £722,260). |