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Company No: 08534001 (England and Wales)

OUR PEOPLE LIMITED

Unaudited Financial Statements
For the financial year ended 31 December 2024
Pages for filing with the registrar

OUR PEOPLE LIMITED

Unaudited Financial Statements

For the financial year ended 31 December 2024

Contents

OUR PEOPLE LIMITED

BALANCE SHEET

As at 31 December 2024
OUR PEOPLE LIMITED

BALANCE SHEET (continued)

As at 31 December 2024
Note 2024 2023
£ £
Fixed assets
Intangible assets 3 620,152 684,323
Tangible assets 4 5,194 9,565
625,346 693,888
Current assets
Debtors 5 135,714 36,160
Cash at bank and in hand 64,019 0
199,733 36,160
Creditors: amounts falling due within one year 6 ( 3,329,116) ( 3,031,673)
Net current liabilities (3,129,383) (2,995,513)
Total assets less current liabilities (2,504,037) (2,301,625)
Net liabilities ( 2,504,037) ( 2,301,625)
Capital and reserves
Called-up share capital 7 100 100
Profit and loss account ( 2,504,137 ) ( 2,301,725 )
Total shareholder's deficit ( 2,504,037) ( 2,301,625)

For the financial 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.

Directors' responsibilities:

These financial statements have been prepared in accordance with the provisions of FRS 102 Section 1A – small entities. The financial statements of Our People Limited (registered number: 08534001) were approved and authorised for issue by the Board of Directors on 08 May 2025. They were signed on its behalf by:

Mr R J Neveu
Director
OUR PEOPLE LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 2024
OUR PEOPLE LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Our People Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Unit 18 23 Royal William Yard, Plymouth, PL1 3GW, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The directors have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Foreign currency

Transactions in foreign currencies are recorded at the rate of exchange at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the Balance Sheet date are reported at the rates of exchange prevailing at that date.

Turnover

Turnover is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer. Turnover from the sale of goods is recognised when the goods are physically delivered to the customer.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Computer software 3 years straight line
Research and development

Research expenditure is written off as incurred. Development expenditure is also written off, except where the directors are satisfied as to the technical, commercial and financial viability of individual projects. In such cases, the identifiable expenditure is capitalised as an intangible asset and amortised over the period during which the Company is expected to benefit. This period is between three and five years. Provision is made for any impairment.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line basis over its expected useful life, as follows:

Leasehold improvements depreciated over the life of the lease
Plant and machinery 4 years straight line
Fixtures and fittings 4 years straight line
Office equipment 4 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets receivable within one year, such as trade debtors and bank balances, are measured at transaction price less any impairment.

Basic financial assets receivable within more than one year are measured at amortised cost less any impairment.

Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Basic financial liabilities
Basic financial liabilities that have no stated interest rate and are payable within one year, such as trade creditors, are measured at transaction price.

Other basic financial liabilities are measured at amortised cost.

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

Defined contribution pension obligation

A defined contribution pension plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal 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.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 5 9

3. Intangible assets

Computer software Total
£ £
Cost
At 01 January 2024 2,221,827 2,221,827
Additions 331,986 331,986
At 31 December 2024 2,553,813 2,553,813
Accumulated amortisation
At 01 January 2024 1,537,504 1,537,504
Charge for the financial year 396,157 396,157
At 31 December 2024 1,933,661 1,933,661
Net book value
At 31 December 2024 620,152 620,152
At 31 December 2023 684,323 684,323

4. Tangible assets

Leasehold improve-
ments
Plant and machinery Fixtures and fittings Office equipment Total
£ £ £ £ £
Cost
At 01 January 2024 16,913 2,930 39,001 17,589 76,433
Disposals 0 0 0 ( 1,791) ( 1,791)
At 31 December 2024 16,913 2,930 39,001 15,798 74,642
Accumulated depreciation
At 01 January 2024 16,913 2,930 38,701 8,324 66,868
Charge for the financial year 0 0 107 2,660 2,767
Disposals 0 0 0 ( 187) ( 187)
At 31 December 2024 16,913 2,930 38,808 10,797 69,448
Net book value
At 31 December 2024 0 0 193 5,001 5,194
At 31 December 2023 0 0 300 9,265 9,565

5. Debtors

2024 2023
£ £
Trade debtors 29,773 23,440
Other debtors 105,941 12,720
135,714 36,160

6. Creditors: amounts falling due within one year

2024 2023
£ £
Bank overdrafts 56 4,821
Trade creditors 3,603 689
Amounts owed to Group undertakings 3,180,736 2,890,098
Other taxation and social security 16,526 7,857
Other creditors 128,195 128,208
3,329,116 3,031,673

7. Called-up share capital

2024 2023
£ £
Allotted, called-up and fully-paid
100 Ordinary shares of £ 1.00 each 100 100