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REGISTERED NUMBER: 05880927 (England and Wales)








Unaudited Financial Statements

For The Year Ended 31 July 2024

for

Engage People Development Limited

Engage People Development Limited (Registered number: 05880927)






Contents of the Financial Statements
For The Year Ended 31 July 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Engage People Development Limited

Company Information
For The Year Ended 31 July 2024







DIRECTORS: Mrs F A Brooks
V Brooks





REGISTERED OFFICE: Harscombe House
1 Darklake View
Plymouth
Devon
PL6 7TL





REGISTERED NUMBER: 05880927 (England and Wales)





ACCOUNTANTS: TC Bromhead Limited
Harscombe House
1 Darklake View
Plymouth
Devon
PL6 7TL

Engage People Development Limited (Registered number: 05880927)

Balance Sheet
31 July 2024

31.7.24 31.7.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 3 13,134 3,227

CURRENT ASSETS
Stocks 40,253 33,801
Debtors 4 25,188 74,872
Cash at bank 28 28
65,469 108,701
CREDITORS
Amounts falling due within one year 5 80,511 71,308
NET CURRENT (LIABILITIES)/ASSETS (15,042 ) 37,393
TOTAL ASSETS LESS CURRENT
LIABILITIES

(1,908

)

40,620

CREDITORS
Amounts falling due after more than one
year

6

(50,458

)

(67,404

)

PROVISIONS FOR LIABILITIES (2,495 ) (614 )
NET LIABILITIES (54,861 ) (27,398 )

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings (54,961 ) (27,498 )
SHAREHOLDERS' FUNDS (54,861 ) (27,398 )

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 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 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 17 March 2025 and were signed on its behalf by:





Mrs F A Brooks - Director


Engage People Development Limited (Registered number: 05880927)

Notes to the Financial Statements
For The Year Ended 31 July 2024

1. 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.

Turnover
Turnover represents both furniture and training sales.The value of services provided under contracts to the extent that there is a right to consideration and is recorded at the value of the consideration due.

Where a contract has only been partially completed at the balance sheet date turnover represents the value of the service provided to date based on a a proportion of the total expected consideration at completion.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 25% on reducing balance and 15% on reducing balance

Stocks
Stock and work in progress is valued at the lower of cost and net realisable value. Cost is determined on a first in first out basis. Net realisable value represents estimated selling price less costs to complete and sell. Provision is made for slow moving, obsolete or damaged stock where the net realisable value is less than cost.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.

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.

2. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2023 - 5 ) .

Engage People Development Limited (Registered number: 05880927)

Notes to the Financial Statements - continued
For The Year Ended 31 July 2024

3. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 August 2023 14,780
Additions 10,950
At 31 July 2024 25,730
DEPRECIATION
At 1 August 2023 11,553
Charge for year 1,043
At 31 July 2024 12,596
NET BOOK VALUE
At 31 July 2024 13,134
At 31 July 2023 3,227

4. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.24 31.7.23
£    £   
Trade debtors 24,283 41,512
Other debtors 905 33,360
25,188 74,872

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.24 31.7.23
£    £   
Bank loans and overdrafts 42,770 43,039
Trade creditors 2,040 347
Taxation and social security 12,578 25,622
Other creditors 23,123 2,300
80,511 71,308

6. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.7.24 31.7.23
£    £   
Bank loans 50,458 67,404

7. OTHER FINANCIAL COMMITMENTS

At 31 July 2024, the company had total commitments under non-cancellable operating leases over the remaining of those leases of £12,718 (2023: £12,718).

Engage People Development Limited (Registered number: 05880927)

Notes to the Financial Statements - continued
For The Year Ended 31 July 2024

8. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 July 2024 and 31 July 2023:

31.7.24 31.7.23
£    £   
Mrs F A Brooks and V Brooks
Balance outstanding at start of year 22,708 5,945
Amounts advanced 34,340 23,927
Amounts repaid (76,624 ) (7,164 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (19,576 ) 22,708

Interest is charged on this loan at the official rate and it is repayable on demand.