Registration number: 11055367

Day 1 People Limited

Contents

Company Information	1
Balance Sheet	2
Notes to the Unaudited Financial Statements	3 to 7

Day 1 People Limited

Company Information

Directors

J M Williams A W King C S D Steger-Lewis

Registered office

1 Meadow View High Street Burbage Marlborough SN8 3AF

Accountants

Sansum & Co Limited 1 Meadow View High Street Burbage Marlborough SN8 3AF

Day 1 People Limited

(Registration number: 11055367)
Balance Sheet as at 31 August 2024

	Note	2024 £	2023 £
Fixed assets
Tangible assets	4	21,547	30,882
Current assets
Debtors	5	601,732	253,839
Cash at bank and in hand		139,095	295,308
		740,827	549,147
Creditors: Amounts falling due within one year	6	(302,543)	(259,403)
Net current assets		438,284	289,744
Net assets		459,831	320,626
Capital and reserves
Called up share capital	7	10,000	10,000
Retained earnings		449,831	310,626
Shareholders' funds		459,831	320,626

For the financial year ending 31 August 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

•	The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
•	The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 20 March 2025 and signed on its behalf by:
 

......................................... A W King Director

Day 1 People Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

1	General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
1 Meadow View
High Street
Burbage
Marlborough
SN8 3AF

These financial statements were authorised for issue by the Board on 20 March 2025.

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

Day 1 People Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

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

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Office equipment	3 years straight line
Furniture and fittings	3 to 5 years straight line

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Day 1 People Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 25 (2023 - 18).

Day 1 People Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

4	Tangible assets

	Furniture, fittings and equipment  £	Total £
Cost or valuation
At 1 September 2023	47,517	47,517
Additions	5,117	5,117
At 31 August 2024	52,634	52,634
Depreciation
At 1 September 2023	16,635	16,635
Charge for the year	14,452	14,452
At 31 August 2024	31,087	31,087
Carrying amount
At 31 August 2024	21,547	21,547
At 31 August 2023	30,882	30,882

5

Debtors

Current	Note	2024 £	2023 £
Trade debtors		113,869	151,861
Amounts owed by related parties	9	369,423	-
Prepayments		14,815	10,853
Other debtors		103,625	91,125
		601,732	253,839

6

Creditors

Creditors: amounts falling due within one year

	2024 £	2023 £
Due within one year
Trade creditors	11,236	14,648
Taxation and social security	198,322	164,756
Accruals and deferred income	60,363	74,829
Other creditors	32,622	5,170
	302,543	259,403

Day 1 People Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

7	Share capital

Allotted, called up and fully paid shares

	2024		2023
	No.	£	No.	£
Ordinary shares of £1 each	10,000	10,000	10,000	10,000

8

Dividends

		2024		2023
		£		£
Interim dividend of £6.21 (2023 - £2.00) per ordinary share		62,063		20,000

9	Related party transactions

Directors' remuneration

The directors' remuneration for the year was as follows:

	2024 £	2023 £
Remuneration	184,482	197,144
Contributions paid to money purchase schemes	51,226	56,562
	235,708	253,706

Loans to related parties

2024	Parent £	Total £
Advanced	369,423	369,423
At end of period	369,423	369,423

Terms of loans to related parties

The interest free loan to Day 1 People Holdings Limited is repayable on demand.
 

10	Parent and ultimate parent undertaking

The company's immediate parent is Day 1 People Holdings Limited, incorporated in England and Wales.