IRIS Accounts Production v25.1.3.33 11055921 director 1.11.23 31.10.24 31.10.24 false true false false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh110559212023-10-31110559212024-10-31110559212023-11-012024-10-31110559212022-10-31110559212022-11-012023-10-31110559212023-10-3111055921ns15:EnglandWales2023-11-012024-10-3111055921ns14:PoundSterling2023-11-012024-10-3111055921ns10:Director12023-11-012024-10-3111055921ns10:PrivateLimitedCompanyLtd2023-11-012024-10-3111055921ns10:SmallEntities2023-11-012024-10-3111055921ns10:AuditExempt-NoAccountantsReport2023-11-012024-10-3111055921ns10:SmallCompaniesRegimeForDirectorsReport2023-11-012024-10-3111055921ns10:SmallCompaniesRegimeForAccounts2023-11-012024-10-3111055921ns10:FullAccounts2023-11-012024-10-311105592112023-11-012024-10-3111055921ns10:CompanySecretary12023-11-012024-10-3111055921ns10:RegisteredOffice2023-11-012024-10-3111055921ns5:CurrentFinancialInstruments2024-10-3111055921ns5:CurrentFinancialInstruments2023-10-3111055921ns5:ShareCapital2024-10-3111055921ns5:ShareCapital2023-10-3111055921ns5:RetainedEarningsAccumulatedLosses2024-10-3111055921ns5:RetainedEarningsAccumulatedLosses2023-10-3111055921ns5:NetGoodwill2023-11-012024-10-3111055921ns5:IntangibleAssetsOtherThanGoodwill2023-11-012024-10-3111055921ns5:PlantMachinery2023-11-012024-10-3111055921ns5:NetGoodwill2023-10-3111055921ns5:NetGoodwill2024-10-3111055921ns5:NetGoodwill2023-10-3111055921ns5:PlantMachinery2023-10-3111055921ns5:PlantMachinery2024-10-3111055921ns5:PlantMachinery2023-10-3111055921ns5:WithinOneYearns5:CurrentFinancialInstruments2024-10-3111055921ns5:WithinOneYearns5:CurrentFinancialInstruments2023-10-31
REGISTERED NUMBER: 11055921 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 October 2024

for

Commodities People Ltd

Commodities People Ltd (Registered number: 11055921)






Contents of the Financial Statements
for the Year Ended 31 October 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Commodities People Ltd

Company Information
for the Year Ended 31 October 2024







DIRECTOR: Mr B M Hillary





SECRETARY: Mr B M Hillary





REGISTERED OFFICE: Kemp House
160 City Road
London
EC1V 2NX





REGISTERED NUMBER: 11055921 (England and Wales)





ACCOUNTANTS: Mellor Oxland LLP
Hine House
25 Regent Street
Nottingham
Nottinghamshire
NG1 5BS

Commodities People Ltd (Registered number: 11055921)

Balance Sheet
31 October 2024

2024 2023
Notes £    £    £   
FIXED ASSETS
Intangible assets 4 3,499 4,666
Tangible assets 5 36,355 26,270
Investments 6 - 4,800
39,854 35,736

CURRENT ASSETS
Debtors 7 1,053,473 510,658
Prepayments and accrued income 214,057 128,335
Cash at bank and in hand 639,689 242,955
1,907,219 881,948
CREDITORS
Amounts falling due within one year 8 1,410,356 742,398
NET CURRENT ASSETS 496,863 139,550
TOTAL ASSETS LESS CURRENT
LIABILITIES

536,717

175,286

PROVISIONS FOR LIABILITIES 6,522 3,437
NET ASSETS 530,195 171,849

CAPITAL AND RESERVES
Called up share capital 1,000 1,000
Retained earnings 529,195 170,849
530,195 171,849

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 director and authorised for issue on 21 May 2025 and were signed by:





Mr B M Hillary - Director


Commodities People Ltd (Registered number: 11055921)

Notes to the Financial Statements
for the Year Ended 31 October 2024

1. STATUTORY INFORMATION

Commodities People Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. 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 is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Purchased goodwill is amortised over its estimated useful life. The most recent acquisition of good will is being amortised over 6 years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

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

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 makes contributions for employees to defined contribution pension schemes. Contributions payable are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 16 (2023 - 11 ) .

Commodities People Ltd (Registered number: 11055921)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2024

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 November 2023
and 31 October 2024 17,250
AMORTISATION
At 1 November 2023 12,584
Charge for year 1,167
At 31 October 2024 13,751
NET BOOK VALUE
At 31 October 2024 3,499
At 31 October 2023 4,666

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 November 2023 136,290
Additions 22,065
At 31 October 2024 158,355
DEPRECIATION
At 1 November 2023 110,020
Charge for year 11,980
At 31 October 2024 122,000
NET BOOK VALUE
At 31 October 2024 36,355
At 31 October 2023 26,270

6. FIXED ASSET INVESTMENTS

Investments (neither listed nor unlisted) were as follows:
2024 2023
£    £   
Other Investments 4,800 4,800
Reclassification to revenue (4,800 ) -
- 4,800

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 715,502 299,728
Other debtors 337,971 210,930
1,053,473 510,658

Commodities People Ltd (Registered number: 11055921)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2024

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 282,310 163,718
Taxation and social security 314,937 229,092
Other creditors 813,109 349,588
1,410,356 742,398

9. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

At the year end the Director owed £252,015 (2023 £156,736) to the company. Interest is paid on the loan at the official rate.