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Registered number: 06969524
Peopletoo Limited
Unaudited Financial Statements
For The Year Ended 30 April 2024
Unaudited Financial Statements
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—4
Page 1
Balance Sheet
Registered number: 06969524
2024 2023
Notes £ £ £ £
CURRENT ASSETS
Debtors 4 1,134,923 1,073,842
Cash at bank and in hand 1,263,921 1,335,615
2,398,844 2,409,457
Creditors: Amounts Falling Due Within One Year 5 (835,382 ) (927,600 )
NET CURRENT ASSETS (LIABILITIES) 1,563,462 1,481,857
TOTAL ASSETS LESS CURRENT LIABILITIES 1,563,462 1,481,857
Creditors: Amounts Falling Due After More Than One Year 6 (112,950 ) (112,950 )
NET ASSETS 1,450,512 1,368,907
CAPITAL AND RESERVES
Called up share capital 7 205 205
Share premium account 17,698 17,698
Capital redemption reserve 20,825 20,825
Profit and Loss Account 1,411,784 1,330,179
SHAREHOLDERS' FUNDS 1,450,512 1,368,907
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Page 2
For the year ending 30 April 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.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr M J Butler
Director
26th July 2024
The notes on pages 3 to 4 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Peopletoo Limited is a private company, limited by shares, incorporated in England & Wales, registered number 06969524 . The registered office is Unit 8 Wheatcroft Business Park, Landmere Lane, Edwalton, Nottingham, NG12 4DG.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. 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. Turnover is reduced for estimated rebates and other similar allowances.
2.3. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 26 (2023: 22)
26 22
4. Debtors
2024 2023
£ £
Due within one year
Trade debtors 465,130 411,195
Other debtors 224,383 289,076
Amounts owed by group undertakings 445,410 373,571
1,134,923 1,073,842
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5. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 25,143 277,140
Corporation tax 237,251 163,035
Other taxes and social security 247,375 185,415
Other creditors 21,846 23,770
Accruals and deferred income 303,767 278,240
835,382 927,600
6. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
6.5 % Preference shares of £1 each 50,000 50,000
1% Preference shares of £1 each 62,950 62,950
112,950 112,950
Preference shares carry a cumulative dividend, which is accrued if there are insufficient profit and loss reserves and becomes payable when reserves permit.
On a return of capital, any surplus after the repayment of the loan notes shall be firstly distributed in repaying preference shareholders.
7. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 205 205
8. Related Party Transactions
During the year the company paid dividends of £665,433 (2023: £473,789) to its parent company Ampco 137 Limited.
9. Ultimate Controlling Party
The company's immediate and ultimate parent undertaking is Ampco 137 Limited . Ampco 137 Limited was incorporated in (England & Wales).
The ultimate controlling party is Ampco 137 Limited who controls 92.41% of the shares of Peopletoo Limited . Ampco 137 Limited is controlled by M Kenney and M Butler.
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