Company Registration No. 14426358 (England and Wales)
AMBIENT PEOPLE LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024
PAGES FOR FILING WITH REGISTRAR
AMBIENT PEOPLE LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 5
AMBIENT PEOPLE LIMITED
BALANCE SHEET
AS AT 31 OCTOBER 2024
31 October 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
5,974
5,134
Current assets
Debtors
4
3,027,117
2,113,972
Cash at bank and in hand
598,872
378,088
3,625,989
2,492,060
Creditors: amounts falling due within one year
5
(3,399,343)
(2,486,109)
Net current assets
226,646
5,951
Total assets less current liabilities
232,620
11,085
Provisions for liabilities
6
(1,356)
(1,201)
Net assets
231,264
9,884
Capital and reserves
Called up share capital
55
55
Profit and loss reserves
231,209
9,829
Total equity
231,264
9,884
The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true
For the financial year ended 31 October 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved and signed by the director and authorised for issue on 1 July 2025
L N Farncombe
Director
Company Registration No. 14426358
AMBIENT PEOPLE LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024
- 2 -
1
Accounting policies
Company information
Ambient People Limited is a private company limited by shares incorporated in England and Wales. The registered office is Landmark, 2 Portman Street, London, United Kingdom, W1H 6DU.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for services provided in the normal course of business, and is shown net of VAT.
1.3
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost of assets less their residual values over their useful lives on the following bases:
Fixtures and fittings
33.33% Straight line basis
Computers
33.33% Straight line basis
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
1.4
Impairment of fixed assets
At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss.
1.5
Cash and cash equivalents
Cash and cash equivalents are basic financial assets, includes deposits held at call with banks.
1.6
Financial instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
AMBIENT PEOPLE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2024
1
Accounting policies
(Continued)
- 3 -
Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
Classification of financial liabilities
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.
Basic financial liabilities
Basic financial liabilities including creditors, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
1.7
Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs.
1.8
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
Deferred tax
Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.
1.9
Employee benefits
The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.
1.10
Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
1.11
The accounts relate to the year ended 31 October 2024. The prior period represents the figures from 18 October 2022 (date of incorporation) to 31 October 2023.
AMBIENT PEOPLE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2024
- 4 -
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2024
2023
Number
Number
Total
4
3
3
Tangible fixed assets
Fixtures and fittings
Computers
Total
£
£
£
Cost
At 1 November 2023
6,703
6,703
Additions
1,834
2,149
3,983
At 31 October 2024
1,834
8,852
10,686
Depreciation and impairment
At 1 November 2023
1,569
1,569
Depreciation charged in the year
453
2,690
3,143
At 31 October 2024
453
4,259
4,712
Carrying amount
At 31 October 2024
1,381
4,593
5,974
At 31 October 2023
5,134
5,134
4
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
2,604,175
1,693,457
Other debtors
20,830
10,106
Prepayments and accrued income
402,112
410,409
3,027,117
2,113,972
AMBIENT PEOPLE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2024
- 5 -
5
Creditors: amounts falling due within one year
2024
2023
£
£
Invoice financing
2,484,674
1,693,457
Trade creditors
8,700
8,816
Corporation tax
115,392
5,408
Other taxation and social security
107,311
61,519
Other creditors
328,449
346,196
Accruals
354,817
370,713
3,399,343
2,486,109
Invoice financing is secured by fixed and floating charges over the assets of the company.
6
Provisions for liabilities
2024
2023
£
£
Deferred tax liabilities
1,356
1,201
7
Operating lease commitments
At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:
2024
2023
£
£
80,206