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REGISTERED NUMBER: 02730817 (England and Wales)















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: Mr A C Wilson
Mrs J E Dingle
Mr C A Ivey
Mrs K Maynard





REGISTERED OFFICE: Unit F
Bedford Business Centre
Mile Road
Bedford
Bedfordshire
MK42 9TW





REGISTERED NUMBER: 02730817 (England and Wales)





ACCOUNTANTS: Rawlinson Pryde Limited
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 41,119 27,258

CURRENT ASSETS
Debtors 5 1,958,637 1,662,002
Prepayments and accrued income 55,230 61,395
Cash at bank and in hand 375,503 465,366
2,389,370 2,188,763
CREDITORS
Amounts falling due within one year 6 363,866 354,959
NET CURRENT ASSETS 2,025,504 1,833,804
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,066,623

1,861,062

CREDITORS
Amounts falling due after more than one
year

7

(29,616

)

(6,191

)

PROVISIONS FOR LIABILITIES 9 - (938 )

ACCRUALS AND DEFERRED INCOME (428,708 ) (414,709 )
NET ASSETS 1,608,299 1,439,224

CAPITAL AND RESERVES
Called up share capital 45,000 45,000
Capital redemption reserve 5,000 5,000
Retained earnings 1,558,299 1,389,224
1,608,299 1,439,224

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 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 HEALTH & SAFETY PEOPLE LIMITED (REGISTERED NUMBER: 02730817)

BALANCE SHEET - continued
31 MARCH 2024


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 25 September 2024 and were signed on its behalf by:





Mrs J E Dingle - Director


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 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.

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.

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
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Fixtures and fittings - 33% on cost and 20% on cost
Motor vehicles - 33% on cost and 25% on cost
Computer equipment - 33% on cost

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 38 (2023 - 37 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
and Motor Computer
fittings vehicles equipment Totals
£    £    £    £   
COST
At 1 April 2023 123,638 173,466 105,998 403,102
Additions 499 51,994 3,727 56,220
Disposals - (23,798 ) (4,389 ) (28,187 )
At 31 March 2024 124,137 201,662 105,336 431,135
DEPRECIATION
At 1 April 2023 120,764 157,661 97,419 375,844
Charge for year 2,224 10,768 5,569 18,561
Eliminated on disposal - - (4,389 ) (4,389 )
At 31 March 2024 122,988 168,429 98,599 390,016
NET BOOK VALUE
At 31 March 2024 1,149 33,233 6,737 41,119
At 31 March 2023 2,874 15,805 8,579 27,258

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 173,466
Additions 51,994
Disposals (23,798 )
At 31 March 2024 201,662
DEPRECIATION
At 1 April 2023 157,661
Charge for year 10,768
At 31 March 2024 168,429
NET BOOK VALUE
At 31 March 2024 33,233
At 31 March 2023 15,805

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade debtors 1,017,500 937,492
Amounts owed by group undertakings 936,660 722,260
Other debtors - 2,250
Deferred tax asset 4,477 -
1,958,637 1,662,002

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 20,362 9,239
Trade creditors 70,611 69,123
Tax 64,254 69,674
Social security and other taxes 57,269 53,939
Pensions 13,243 11,537
VAT 118,025 118,967
Other creditors 8,334 12,420
Credit card 11,768 10,060
363,866 354,959

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 29,616 6,191

8. SECURED DEBTS

Hire purchase contracts are secured on the assets concerned.

9. PROVISIONS FOR LIABILITIES
31.3.23
£   
Deferred tax
Accelerated capital allowances 1,285
Other timing differences (347 )
938

Deferred
tax
£   
Balance at 1 April 2023 938
Credit to Statement of Income and Retained Earnings during year (79 )
Accelerated capital allowances (5,336 )
Balance at 31 March 2024 (4,477 )

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:

20242023
££
Within one year59,38930,348
After one year but not more than five years69,919-
129,30830,348


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).