The Performance Partnership Worldwide Lt - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 06910067 (England and Wales)

FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2020

FOR

THE PERFORMANCE PARTNERSHIP WORLDWIDE

LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

D M Shephard

REGISTERED OFFICE:

10 London Mews

London

W2 1HY

REGISTERED NUMBER:

06910067 (England and Wales)

ACCOUNTANTS:

Stein Richards

Chartered Accountants

10 London Mews

Paddington

London

W2 1HY

FIXED ASSETS

Intangible assets

4

4,770

6,360

Tangible assets

5

433

-

5,203

6,360

CURRENT ASSETS

Debtors

6

34,308

7,097

Cash at bank and in hand

104

110

34,412

7,207

CREDITORS

Amounts falling due within one year

7

186,837

126,343

NET CURRENT LIABILITIES

(152,425

)

(119,136

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(147,222

)

(112,776

)

CAPITAL AND RESERVES

Called up share capital

8

1

1

Retained earnings

(147,223

)

(112,777

)

SHAREHOLDERS' FUNDS

(147,222

)

(112,776

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2020 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 10 March 2021 and were signed by:

D M Shephard - Director

1.	STATUTORY INFORMATION

The Performance Partnership Worldwide Limited 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.

The accounts are prepared on a going concern basis. The director believes this to be appropriate on the basis that he has received assurances from the creditors that they will not require the repayment of advances made by them to the company until the company has adequate funds to remain solvent.

However due to the uncertainty surrounding the Covid-19 virus at the time of approval of these accounts the director believes it is difficult to establish the long term impact this may have on the business.At the balance sheet date the company has a deficiency of assets. The accounts have been prepared on a going concern basis, as the director is satisfied that the company will continue to receive the support of its loan creditors.

Turnover

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

Turnover represents training income receivable in the year net of discounts and VAT.

Rendering of services

Revenue for providing services are recognised when the training course has been completed..

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2018, is being amortised evenly over its estimated useful life of five 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.

Computer equipment

-

33.33% straight line

Financial instruments

The Company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities such as trade and other debtors and creditors and loans to related parties.

The basic financial debtors and liabilities as listed above are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future payments / receipts discounted at a market rate of interest. Such instruments are subsequently carried at amortised cost using the effective interest method, less any impairment. An impairment review is undertaken annually at the balance sheet date.

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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme 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 1 (2019 - 2 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 April 2019

and 31 March 2020

7,950

AMORTISATION

At 1 April 2019

1,590

Amortisation for year

1,590

At 31 March 2020

3,180

NET BOOK VALUE

At 31 March 2020

4,770

At 31 March 2019

6,360

5.	TANGIBLE FIXED ASSETS

Computer

equipment

£

COST

Additions

650

At 31 March 2020

650

DEPRECIATION

Charge for year

217

At 31 March 2020

217

NET BOOK VALUE

At 31 March 2020

433

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.20

31.3.19

£

£

Trade debtors

-

3,872

Other debtors

34,308

3,225

34,308

7,097

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.20

31.3.19

£

£

Bank loans and overdrafts

36,925

33,213

Trade creditors

34,380

25,524

Taxation and social security

9,486

6,619

Other creditors

106,046

60,987

186,837

126,343

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.3.20

31.3.19

value:

£

£

1

Ordinary

£1

1

1

9.	RELATED PARTY DISCLOSURES