ACCOUNTS - Final Accounts preparation

HIRE PURCHASE AND FINANCE LEASES

Minimum lease payments under hire purchase fall due as follows:

Registered number: 11570329

PEOPLE GROUP SERVICES LIMITED

ANNUAL REPORT AND FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MARCH 2026

PEOPLE GROUP SERVICES LIMITED

REGISTERED NUMBER:11570329

STATEMENT OF FINANCIAL POSITION

AS AT 31 MARCH 2026

		2026		2025
Note		£		£

FIXED ASSETS
Intangible assets	5		105,939		139,855
Tangible assets	6		114,593		155,626
			220,532		295,481
CURRENT ASSETS
Debtors: amounts falling due within one year	7	634,069		679,342
Cash at bank and in hand	8	10,770		18,437
		644,839		697,779
Creditors: amounts falling due within one year	9	(1,448,753)		(1,577,844)
NET CURRENT LIABILITIES			(803,914)		(880,065)
TOTAL ASSETS LESS CURRENT LIABILITIES			(583,382)		(584,584)
Creditors: amounts falling due after more than one year	10		(78,087)		(86,587)
PROVISIONS FOR LIABILITIES
Deferred tax			-		(13,830)
NET LIABILITIES			(661,469)		(685,001)

CAPITAL AND RESERVES
Called up share capital	10	10
Profit and loss account	(661,479)	(685,011)
	(661,469)	(685,001)

The financial statements have been prepared 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 financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 1 July 2026.

T Hillier

Director

The notes on pages 3 to 12 form part of these financial statements.

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PEOPLE GROUP SERVICES LIMITED

STATEMENT OF CHANGES IN EQUITY

FOR THE YEAR ENDED 31 MARCH 2026

	Called up share capital	Profit and loss account	Total equity
	£	£	£
At 1 April 2024	10	(354,290)	(354,280)

Loss for the year	-	(330,721)	(330,721)

At 1 April 2025	10	(685,011)	(685,001)

Loss for the year	-	(926,468)	(926,468)
Capital contribution	-	950,000	950,000
AT 31 MARCH 2026	10	(661,479)	(661,469)

The notes on pages 3 to 12 form part of these financial statements.

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PEOPLE GROUP SERVICES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2026

1.	GENERAL INFORMATION

People Group Services Limited is a limited liability company incorporated in England and Wales. The registered office is People Group House, Three Horseshoes Walk, Warminster, Wiltshire, England, BA12 9BT.

2.ACCOUNTING POLICIES

2.1

BASIS OF PREPARATION OF FINANCIAL STATEMENTS

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006. 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 following principal accounting policies have been applied:

2.2

GOING CONCERN

During the year ended 31 March 2026 the Company made a loss of £926,468 and as at 31 March 2026 had net liabilities of £661,469. Since the year-end, the Company has traded satisfactorily with Group Sales performing to forecasted levels and the Company remains on target to deliver at indicated performance levels. The Company continues to be reliant on the ongoing support of its fellow group companies, and in turn its funders and shareholders.

Having regard to the financial statements contained herein the director has considered the financial position of the Company and performance post year-end.

Management have prepared cashflow forecasts, as well as budgeted trading and profit & loss figures which have been prudently prepared. These forecasts demonstrate that the Group will retain an ability to successfully manage cash flows and discharge all liabilities as they fall due, for a minimum period of at least 12 months from signing of these financial statements. Whilst the director does not anticipate any need for further funding, if any funding was required the director is confident any requirements for additional funding will be met by the support from the shareholder and the Group's funders.

In addition to the above, the Group has entered into a legally binding agreement whereby each Group company agrees to financially support and not withdraw funding to fellow Group companies. This confirms support to all Group companies such that intercompany balances cannot be withdrawn and funding will be provided to support the going concern basis of accounting of each company, as well as the Group as a whole. In addition management have obtained a letter of support from the ultimate controlling party, Terence Hillier, to provide additional appropriate financial support should it be required.

As such, the director considers it appropriate to prepare the accounts on a going concern basis.

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PEOPLE GROUP SERVICES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2026

2.ACCOUNTING POLICIES (CONTINUED)

2.3

REVENUE

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue is recognised in the period in which the services are provided on straight line basis, when all
of the following conditions are satisfied:

∙the amount of revenue can be measured reliably;

∙it is probable that the Company will receive the consideration due under the contract;

∙the costs incurred can be reliably measured.

2.4

FINANCE COSTS

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

2.5

PENSIONS

DEFINED CONTRIBUTION PENSION PLAN

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of financial position. The assets of the plan are held separately from the Company in independently administered funds.

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PEOPLE GROUP SERVICES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2026

2.ACCOUNTING POLICIES (CONTINUED)

2.6

TAXATION

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

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.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:

∙The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and

∙Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

2.7

EXCEPTIONAL ITEMS

Exceptional items are transactions that fall within the ordinary activities of the Company but are presented separately due to their size or incidence.

2.8

INTANGIBLE ASSETS

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

2.9

TANGIBLE FIXED ASSETS

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

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PEOPLE GROUP SERVICES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2026

2.ACCOUNTING POLICIES (CONTINUED)

2.9

TANGIBLE FIXED ASSETS (CONTINUED)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives.

Depreciation is provided on the following basis:

Motor vehicles	-	25%	Reducing balance
Fixtures and fittings	-	25%	Straight line
Computer equipment	-	33%	Straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

2.10

DEBTORS

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

2.11

CASH AND CASH EQUIVALENTS

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

2.12

CREDITORS

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

2.13

PROVISIONS FOR LIABILITIES

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.

Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.

Increases in provisions are generally charged as an expense to profit or loss.

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PEOPLE GROUP SERVICES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2026

2.ACCOUNTING POLICIES (CONTINUED)

2.14

FINANCIAL INSTRUMENTS

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the Company's Statement of financial position 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.

Basic financial assets

Basic financial assets, which include trade and other debtors, cash and bank balances, are initially measured at their transaction price (adjusted for transaction costs except in the initial measurement of financial assets that are subsequently measured at fair value through profit and loss) and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, 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.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other debtors due with the operating cycle fall into this category of financial instruments.

Impairment of financial assets

At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in profit or loss.

Financial assets are impaired when events, subsequent to their initial recognition, indicate the estimated future cash flows derived from the financial asset(s) have been adversely impacted. The impairment loss will be the difference between the current carrying amount and the present value of the future cash flows at the asset(s) original effective interest rate.

If there is a favourable change in relation to the events surrounding the impairment loss then the impairment can be reviewed for possible reversal. The reversal will not cause the current carrying amount to exceed the original carrying amount had the impairment not been recognised. The impairment reversal is recognised in the profit or loss.

Basic 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 the deduction of all its liabilities.

Basic financial liabilities, which include trade and other creditors, bank loans and other loans are initially measured at their transaction price (adjusting for transaction costs except in the initial measurement of financial liabilities that are subsequently measured at fair value through profit and loss). When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future payments discounted at a market rate of interest, discounting is omitted where the effect of discounting is immaterial.

Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.

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PEOPLE GROUP SERVICES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2026

2.ACCOUNTING POLICIES (CONTINUED)

2.14

FINANCIAL INSTRUMENTS (CONTINUED)

Trade creditors are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade creditors are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.

3.	JUDGEMENTS IN APPLYING ACCOUNTING POLICIES AND KEY SOURCES OF ESTIMATION UNCERTAINTY

Preparation of the financial statements requires management to make significant judgements and
estimates.

Trade debt provision
Management have considered risk of bad debts, and review debtor recovery positions monthly, any
suspected bad debts based upon client knowledge and historical outcomes are provided for immediately.

Recoverability of intercompany debt
Management have assessed the recoverability of intercompany debt, taking into account the financial position of the counterparties and the fact that all balances are with entities wholly owned by People Group Operations Limited. This assessment includes consideration of the ability of each entity to continue as a going concern and the availability of group support where required (see note 2.3). Based on this assessment, management consider the intercompany balances to be recoverable.

EMPLOYEES

The average monthly number of employees, including directors, during the year was 16 (2025: 19).

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PEOPLE GROUP SERVICES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2026

5.	INTANGIBLE ASSETS

	Trademarks	Computer software	Total
	£	£	£
COST
At 1 April 2025	130,000	135,300	265,300
Additions	-	77,944	77,944
Disposals	(130,000)	-	(130,000)
At 31 March 2026	-	213,244	213,244
AMORTISATION
At 1 April 2025	26,000	99,445	125,445
Charge for the year on owned assets	13,000	7,860	20,860
On disposals	(39,000)	-	(39,000)
At 31 March 2026	-	107,305	107,305
NET BOOK VALUE
At 31 March 2026	-	105,939	105,939
At 31 March 2025	104,000	35,855	139,855

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PEOPLE GROUP SERVICES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2026

6.	TANGIBLE FIXED ASSETS

	Motor vehicles	Fixtures and fittings	Computer equipment	Total
	£	£	£	£
COST
At 1 April 2025	136,731	5,710	130,007	272,448
Additions	499	-	20,779	21,278
Disposals	-	-	(5,972)	(5,972)
At 31 March 2026	137,230	5,710	144,814	287,754
DEPRECIATION
At 1 April 2025	29,019	3,072	84,731	116,822
Charge for the year on owned assets	27,053	905	34,353	62,311
Disposals	-	-	(5,972)	(5,972)
At 31 March 2026	56,072	3,977	113,112	173,161
NET BOOK VALUE
At 31 March 2026	81,158	1,733	31,702	114,593
At 31 March 2025	107,712	2,638	45,276	155,626

DEBTORS

					2026	2025
					£	£


Trade debtors	501	63,236
Amounts owed by group undertakings	448,000	448,000
Other debtors	109,043	63,653
Prepayments and accrued income	76,525	104,453
	634,069	679,342

Amounts owed by group undertakings are unsecured, repayable on demand and interest free.

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PEOPLE GROUP SERVICES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2026

8.	CASH AND CASH EQUIVALENTS
		2026	2025
		£	£

Cash at bank and in hand	10,770	18,437
	10,770	18,437

The Company is part of a cross guarantee and debenture between People CIS Limited, People Group Operations Limited, People Group Services Limited, People PAYE Limited, People PSC Limited and People Umbrella Limited, dated 21 October 2019. The Group had bank borrowings at the year-end of £8,334 (2025: £18,333).

9.	CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
		2026	2025
		£	£

Trade creditors	38,851	68,901
Amounts owed to group undertakings	1,265,134	1,267,995
Other taxation and social security	31,301	94,122
Obligations under finance lease and hire purchase contracts	8,630	8,630
Other creditors	64	7,869
Accruals and deferred income	104,773	130,327
	1,448,753	1,577,844

Amounts owed to group undertakings are unsecured, repayable on demand and interest free.

10.	CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
		2026	2025
		£	£

Net obligations under finance leases and hire purchase contracts	78,087	86,587
	78,087	86,587

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PEOPLE GROUP SERVICES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2026

Within one year	8,630	8,630
Between 1-5 years	78,087	86,587
	86,717	95,217

Not later than 1 year	47,000	47,000
Later than 1 year and not later than 5 years	43,083	90,083
	90,083	137,083

13.

RELATED PARTY TRANSACTIONS

As a wholly owned subsidiary of People Group Operations Limited, a company incorporated in England and Wales, the Company is able to take advantage of the exemption under the terms of FRS102 section 33.1a from disclosing related party transactions with wholly owned entities that are part of the same group.

During the year the Company paid management fees amounting to £435,375 (2025: £405,900) and made sales totalling £26,866 (2025: £21,587) to TWH Holdings Limited, a company in which T Hillier has a controlling interest. At the year end amounts payable to TWH Holdings Limited and included in creditors were £nil (2025: £nil).

Included in other debtors are amounts owed to the Company by the Director totalling £85,849 (2025: £62,554). The maximum balance outstanding during the year was £88,876 (2025: £62,554).

14.	CONTROLLING PARTY

The immediate parent undertaking is People Group Operations Limited and ultimate controlling party is

T Hillier.

15.	AUDITORS' INFORMATION

The auditors' report on the financial statements for the year ended 31 March 2026 was unqualified.

The audit report was signed on 14 July 2026 by Stuart Crisp BSc FCA (Senior statutory auditor) on behalf of Bishop Fleming Audit Limited.

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PEOPLE GROUP SERVICES LIMITED

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