Caseware UK (AP4) 2023.0.135 2023.0.135 2024-08-312024-08-312023-09-01trueEmployment placement agenciesfalseThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.78truefalse 10105004 2023-09-01 2024-08-31 10105004 2022-12-01 2023-08-31 10105004 2024-08-31 10105004 2023-08-31 10105004 c:Director1 2023-09-01 2024-08-31 10105004 d:MotorVehicles 2023-09-01 2024-08-31 10105004 d:MotorVehicles 2024-08-31 10105004 d:MotorVehicles 2023-08-31 10105004 d:MotorVehicles d:OwnedOrFreeholdAssets 2023-09-01 2024-08-31 10105004 d:FurnitureFittings 2023-09-01 2024-08-31 10105004 d:FurnitureFittings 2024-08-31 10105004 d:FurnitureFittings 2023-08-31 10105004 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-09-01 2024-08-31 10105004 d:OfficeEquipment 2023-09-01 2024-08-31 10105004 d:OfficeEquipment 2024-08-31 10105004 d:OfficeEquipment 2023-08-31 10105004 d:OfficeEquipment d:OwnedOrFreeholdAssets 2023-09-01 2024-08-31 10105004 d:OwnedOrFreeholdAssets 2023-09-01 2024-08-31 10105004 d:DevelopmentCostsCapitalisedDevelopmentExpenditure 2024-08-31 10105004 d:DevelopmentCostsCapitalisedDevelopmentExpenditure 2023-08-31 10105004 d:CurrentFinancialInstruments 2024-08-31 10105004 d:CurrentFinancialInstruments 2023-08-31 10105004 d:Non-currentFinancialInstruments 2024-08-31 10105004 d:Non-currentFinancialInstruments 2023-08-31 10105004 d:CurrentFinancialInstruments d:WithinOneYear 2024-08-31 10105004 d:CurrentFinancialInstruments d:WithinOneYear 2023-08-31 10105004 d:Non-currentFinancialInstruments d:AfterOneYear 2024-08-31 10105004 d:Non-currentFinancialInstruments d:AfterOneYear 2023-08-31 10105004 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2024-08-31 10105004 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2023-08-31 10105004 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2024-08-31 10105004 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2023-08-31 10105004 d:ShareCapital 2024-08-31 10105004 d:ShareCapital 2023-08-31 10105004 d:RetainedEarningsAccumulatedLosses 2024-08-31 10105004 d:RetainedEarningsAccumulatedLosses 2023-08-31 10105004 c:FRS102 2023-09-01 2024-08-31 10105004 c:AuditExempt-NoAccountantsReport 2023-09-01 2024-08-31 10105004 c:FullAccounts 2023-09-01 2024-08-31 10105004 c:PrivateLimitedCompanyLtd 2023-09-01 2024-08-31 10105004 d:DevelopmentCostsCapitalisedDevelopmentExpenditure d:ExternallyAcquiredIntangibleAssets 2023-09-01 2024-08-31 10105004 2 2023-09-01 2024-08-31 10105004 d:AcceleratedTaxDepreciationDeferredTax 2024-08-31 10105004 d:AcceleratedTaxDepreciationDeferredTax 2023-08-31 10105004 d:TaxLossesCarry-forwardsDeferredTax 2024-08-31 10105004 d:TaxLossesCarry-forwardsDeferredTax 2023-08-31 10105004 d:RetirementBenefitObligationsDeferredTax 2024-08-31 10105004 d:RetirementBenefitObligationsDeferredTax 2023-08-31 10105004 d:DevelopmentCostsCapitalisedDevelopmentExpenditure d:OwnedIntangibleAssets 2023-09-01 2024-08-31 10105004 e:PoundSterling 2023-09-01 2024-08-31 iso4217:GBP xbrli:pure

Registered number:  10105004














PEOPLE DYNAMIX LIMITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024


 
PEOPLE DYNAMIX LIMITED
REGISTERED NUMBER: 10105004

BALANCE SHEET
AS AT 31 AUGUST 2024

2024
2023
Note
£
£

Fixed assets
  

Intangible assets
 4 
1,445,392
1,280,633

Tangible assets
 5 
110,366
11,461

  
1,555,758
1,292,094

Current assets
  

Debtors: amounts falling due within one year
 6 
829,055
633,830

Cash at bank and in hand
 7 
736
8,555

  
829,791
642,385

Creditors: amounts falling due within one year
 8 
(2,729,958)
(2,268,321)

Net current liabilities
  
 
 
(1,900,167)
 
 
(1,625,936)

Total assets less current liabilities
  
(344,409)
(333,842)

Creditors: amounts falling due after more than one year
 9 
(1,225,826)
(1,125,735)

Provisions for liabilities
  

Deferred tax
 11 
(34,165)
-

  
 
 
(34,165)
 
 
-

Net liabilities
  
(1,604,400)
(1,459,577)


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
(1,604,500)
(1,459,677)

  
(1,604,400)
(1,459,577)


Page 1

 
PEOPLE DYNAMIX LIMITED
REGISTERED NUMBER: 10105004
    
BALANCE SHEET (CONTINUED)
AS AT 31 AUGUST 2024

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




................................................
G C Williams
Director

Date: 13 February 2025

The notes on pages 3 to 11 form part of these financial statements.

Page 2

 
PEOPLE DYNAMIX LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

1.


General information

The company is a private company limited by shares, which is incorporated under the Companies Act 2006 and registered in England (no. 10105004). The address of the registered office is C/O DoES Liverpool, 1st Floor, The Tapestry, 68-76 Kempston Street, Liverpool, L3 8HL.
These financial statements present information about the company as an individual undertaking. The principal activity of the company is that of a recruitment outsource and technology solution.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. 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 preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.3

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

Page 3

 
PEOPLE DYNAMIX LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

2.Accounting policies (continued)

 
2.4

Research and development

In the research phase of an internal project it is not possible to demonstrate that the project will generate future economic benefits and hence all expenditure on research shall be recognised as an expense when it is incurred. Intangible assets are recognised from the development phase of a project if and only if certain specific criteria are met in order to demonstrate the asset will generate probable future economic benefits and that its cost can be reliably measured. The capitalised development costs are subsequently amortised on a straight-line basis over their useful economic lives, which range from 3 to 6 years.
If it is not possible to distinguish between the research phase and the development phase of an internal project, the expenditure is treated as if it were all incurred in the research phase only.

 
2.5

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.6

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.7

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
2.8

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the Company in independently administered funds.

Page 4

 
PEOPLE DYNAMIX LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

2.Accounting policies (continued)

 
2.9

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


 
2.10

Intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

The estimated useful lives range as follows:
Development expenditure - 6 years

 
2.11

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Page 5

 
PEOPLE DYNAMIX LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

2.Accounting policies (continued)


2.11
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Motor vehicles
-
20%
Straight line
Fixtures & fittings
-
25%
Straight line
Office equipment
-
25%
Straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.12

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.13

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.14

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.15

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.

Page 6

 
PEOPLE DYNAMIX LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

2.Accounting policies (continued)

  
2.16

Research and development

In the research phase of an internal project where, in the opinion of the directors, it is not possible to demonstrate that the project will generate future economic benefits, all expenditure on research shall be recognised as an expense when it is incurred. Intangible assets are recognised where, in the opinion of the directors, the research work is likely to lead to the development of products that will generate probable future economic benefits. The capitalised research and development costs are subsequently amortised on a straight line basis over their useful economic lives, which range from 3 to 10 years.


3.


Employees

The average monthly number of employees, including directors, during the year was 7 (2023 - 8).


4.


Intangible assets




Develop-ment

£



Cost


At 1 September 2023
2,218,243


Additions
365,144



At 31 August 2024

2,583,387



Amortisation


At 1 September 2023
937,610


Charge for the year on owned assets
200,385



At 31 August 2024

1,137,995



Net book value



At 31 August 2024
1,445,392



At 31 August 2023
1,280,633



Page 7

 
PEOPLE DYNAMIX LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

5.


Tangible fixed assets





Motor vehicles
Fixtures & fittings
Office equipment
Total

£
£
£
£



Cost or valuation


At 1 September 2023
14,000
22,459
34,990
71,449


Additions
-
107,089
-
107,089



At 31 August 2024

14,000
129,548
34,990
178,538



Depreciation


At 1 September 2023
10,033
22,459
27,496
59,988


Charge for the year on owned assets
2,800
1,905
3,479
8,184



At 31 August 2024

12,833
24,364
30,975
68,172



Net book value



At 31 August 2024
1,167
105,184
4,015
110,366



At 31 August 2023
3,967
-
7,494
11,461


6.


Debtors

2024
2023
£
£


Trade debtors
660,266
548,671

Other debtors
111,792
56,559

Prepayments and accrued income
56,997
28,600

829,055
633,830



7.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
736
8,555

736
8,555


Page 8

 
PEOPLE DYNAMIX LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

8.


Creditors: Amounts falling due within one year

2024
2023
£
£

Other loans
1,295,922
940,752

Trade creditors
665,047
549,414

Other taxation and social security
129,234
115,207

Other creditors
577,008
532,230

Accruals and deferred income
62,747
130,718

2,729,958
2,268,321


The following liabilities were secured:

2024
2023
£
£



Other loans
1,165,959
909,246

Other creditors
556,240
508,229

1,722,199
1,417,475

Details of security provided:

An amount of £1,165,959 (2023: £909,246) within other loans is secured by fixed and floating charges against the assets of the company.
An amount of £556,240 (2023: £508,229) within other creditors is an invoice financing facility secured by fixed and floating charges against the assets of the company.

Page 9

 
PEOPLE DYNAMIX LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

9.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Other loans
36,974
92,106

Other creditors
1,188,852
1,033,629

1,225,826
1,125,735


The following liabilities were secured:

2024
2023
£
£



Other loans
36,974
92,106

36,974
92,106

Details of security provided:

An amount of £36,974 (2023: £92,106) within other loans is secured by fixed and floating charges against the assets of the company.


10.


Loans


Analysis of the maturity of loans is given below:


2024
2023
£
£

Amounts falling due within one year

Other loans
1,295,922
940,752

Amounts falling due 1-2 years

Other loans
26,316
26,316

Amounts falling due 2-5 years

Other loans
10,658
65,791


1,332,896
1,032,859



11.


Deferred taxation

Page 10

 
PEOPLE DYNAMIX LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024
 
11.Deferred taxation (continued)




2024


£






Charged to profit or loss
(34,165)



At end of year
(34,165)

The deferred taxation balance is made up as follows:

2024
2023
£
£


Fixed asset timing differences
(322,762)
(218,766)

Tax losses carried forward
288,386
218,747

Short term timing differences
211
19

(34,165)
-


12.


Pension commitments

The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £4,371 (2023: £3,797). The amount payable into the scheme at the balance sheet date is £2,253 (2023: £1,158).


13.


Controlling party

The ultimate parent undertaking is Dynamix Corporation Limited, the registered office is The Plaza, 100 Old Hall Street, Liverpool, L3 9QJ.
The controlling party of Dynamix Corporation Limited is Gareth & Jill Williams.

Page 11