Registered number
07091556
Peapple Ltd
Unaudited Filleted Accounts
31 March 2024
Peapple Ltd
Registered number: 07091556
Balance Sheet
as at 31 March 2024
Notes 2024 2023
£ £ £ £
Fixed assets
Intangible assets 3 2,271 -
Tangible assets 4 338,833 335,506
Investments 5 50,100 50,100
391,204 385,606
Current assets
Stocks 13,150 -
Debtors 6 1,802,439 1,964,412
Cash at bank and in hand 246,385 279,761
2,061,974 2,244,173
Creditors: amounts falling due within one year 7 (720,785) (873,520)
Net current assets 1,341,189 1,370,653
Net assets 1,732,393 1,756,259
Capital and reserves
Called up share capital 200,000 200,000
Profit and loss account 1,532,393 1,556,259
Shareholders' funds 1,732,393 1,756,259
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr Zhuoyan Xu
Director
Approved by the board on 24 December 2024
Peapple Ltd
Notes to the Accounts
for the year ended 31 March 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned 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.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Freehold buildings nil
Plant and machinery 25%-33% reducing balance
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 3 3
3 Intangible fixed assets £
Trademark:
Cost
Additions 2,271
At 31 March 2024 2,271
Amortisation
At 31 March 2024 -
Net book value
At 31 March 2024 2,271
Trademark is being written off in equal annual instalments over its estimated economic life of 10 years.
4 Tangible fixed assets
Land and buildings Plant and machinery etc Total
£ £ £
Cost
At 1 April 2023 325,000 81,181 406,181
Additions - 8,779 8,779
At 31 March 2024 325,000 89,960 414,960
Depreciation
At 1 April 2023 - 70,675 70,675
Charge for the year - 5,452 5,452
At 31 March 2024 - 76,127 76,127
Net book value
At 31 March 2024 325,000 13,833 338,833
At 31 March 2023 325,000 10,506 335,506
5 Investments
Investments in
subsidiary
undertakings
£
Cost
At 1 April 2023 50,100
At 31 March 2024 50,100
6 Debtors 2024 2023
£ £
Trade debtors 1,289,822 1,636,030
Amounts owed by group undertakings and undertakings in which the company has a participating interest 376,497 234,997
Other debtors 136,120 93,385
1,802,439 1,964,412
7 Creditors: amounts falling due within one year 2024 2023
£ £
Taxation and social security costs 35,292 81,457
Other creditors 685,493 792,063
720,785 873,520
8 Other information
Peapple Ltd is a private company limited by shares and incorporated in England. Its registered office is:
Unit 4, Maple Grove Business Centre
Lawrence Road
Hounslow
TW4 6DN
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