1 January 2024 false No description of principal activity Taxfiler 2024.6 04352450business:PrivateLimitedCompanyLtd2024-01-012024-12-31 043524502023-12-31 043524502024-01-012024-12-31 04352450business:AuditExemptWithAccountantsReport2024-01-012024-12-31 04352450business:AbridgedAccounts2024-01-012024-12-31 043524502024-12-31 043524502023-12-31 04352450core:WithinOneYear2024-12-31 04352450core:WithinOneYear2023-12-31 04352450core:ShareCapitalcore:PreviouslyStatedAmount2024-12-31 04352450core:ShareCapitalcore:PreviouslyStatedAmount2023-12-31 04352450core:RetainedEarningsAccumulatedLossescore:PreviouslyStatedAmount2024-12-31 04352450core:RetainedEarningsAccumulatedLossescore:PreviouslyStatedAmount2023-12-31 04352450core:PreviouslyStatedAmount2024-12-31 04352450core:PreviouslyStatedAmount2023-12-31 04352450business:SmallEntities2024-01-012024-12-31 04352450business:Director12024-01-012024-12-31 04352450countries:EnglandWales2024-01-012024-12-31 04352450business:RegisteredOffice2024-01-012024-12-31 04352450core:FurnitureFittings2024-01-012024-12-31 04352450core:ComputerEquipment2024-01-012024-12-31 04352450core:AcceleratedTaxDepreciationDeferredTax2024-12-31 04352450core:AcceleratedTaxDepreciationDeferredTax2023-12-31 043524502022-12-31 043524502023-01-012023-12-31 iso4217:GBP xbrli:pure
Company Registration No. 04352450 (England and Wales)
INTELLIGENT PEOPLE LIMITED Unaudited accounts for filing with the registrar for the year ended 31 December 2024
INTELLIGENT PEOPLE LIMITED Unaudited accounts for filing with the registrar Contents
Page
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INTELLIGENT PEOPLE LIMITED Statement of financial position as at 31 December 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Tangible assets
15,134 
21,111 
Current assets
Inventories
21,812 
18,006 
Debtors
260,136 
231,270 
Cash at bank and in hand
85,612 
233,532 
367,560 
482,808 
Creditors: amounts falling due within one year
(81,787)
(171,834)
Net current assets
285,773 
310,974 
Total assets less current liabilities
300,907 
332,085 
Provisions for liabilities
Deferred tax
(3,706)
(5,278)
Net assets
297,201 
326,807 
Capital and reserves
Called up share capital
1,950 
1,950 
Profit and loss account
295,251 
324,857 
Shareholders' funds
297,201 
326,807 
For the year ending 31 December 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.
The members have agreed to the preparation of abridged accounts for the year in accordance with Section 444(2A).
These accounts have been prepared and delivered 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 profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 27 March 2025 and were signed on its behalf by
Chris Mason Director Company Registration No. 04352450
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INTELLIGENT PEOPLE LIMITED Notes to the Accounts for the year ended 31 December 2024
1
Statutory information
INTELLIGENT PEOPLE LIMITED is a private company, limited by shares, registered in England and Wales, registration number 04352450. The registered office is St. Peters House, 45 Victoria Street, St. Albans, Hertfordshire, AL1 3HZ, England.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover 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.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Fixtures & fittings
20% Reducing Balance
Computer equipment
25% Reducing Balance
Deferred taxation
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.
Pension costs
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
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INTELLIGENT PEOPLE LIMITED Notes to the Accounts for the year ended 31 December 2024
4
Tangible fixed assets
Total 
£ 
Cost or valuation
At 1 January 2024
47,522 
Additions
1,308 
Disposals
(9,740)
At 31 December 2024
39,090 
Depreciation
At 1 January 2024
26,411 
Charge for the year
5,372 
On disposals
(7,827)
At 31 December 2024
23,956 
Net book value
At 31 December 2024
15,134 
At 31 December 2023
21,111 
5
Deferred taxation
2024 
2023 
£ 
£ 
Accelerated capital allowances
3,706 
5,278 
2024 
2023 
£ 
£ 
Provision at start of year
5,278 
4,888 
(Credited)/charged to the profit and loss account
(1,572)
390 
Provision at end of year
3,706 
5,278 
6
Transactions with related parties
At 31 December 2024 there were loans owing to directors of £612 (2023: NIL). The loans are interest free and repayable on demand.
7
Average number of employees
During the year the average number of employees was 12 (2023: 17).
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