Premier People Solutions Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 05997338 (England and Wales)

Financial Statements

for the Year Ended 31 March 2021

for

PREMIER PEOPLE SOLUTIONS LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

D J Pearson

A Woodcock

Mrs J B Harrison

SECRETARY:

Mrs J B Harrison

REGISTERED OFFICE:

3 Derwent House

Richmond Business Park

Sidings Court

Doncaster

South Yorkshire

DN4 5NL

REGISTERED NUMBER:

05997338 (England and Wales)

AUDITORS:

Beaumonts (Statutory Auditors)

8 Navigation Court

Calder Park

Wakefield

WF2 7BJ

FIXED ASSETS

Intangible assets

4

622,655

542,710

Tangible assets

5

68,036

116,224

690,691

658,934

CURRENT ASSETS

Debtors

6

2,264,729

2,351,171

Cash at bank and in hand

1,012,601

780,362

3,277,330

3,131,533

CREDITORS

Amounts falling due within one year

7

3,161,972

3,387,654

NET CURRENT ASSETS/(LIABILITIES)

115,358

(256,121

)

TOTAL ASSETS LESS CURRENT LIABILITIES

806,049

402,813

CREDITORS

Amounts falling due after more than one year

8

(212,500

)

-

PROVISIONS FOR LIABILITIES

(9,152

)

(16,594

)

NET ASSETS

584,397

386,219

CAPITAL AND RESERVES

Called up share capital

1,000

1,000

Retained earnings

583,397

385,219

SHAREHOLDERS' FUNDS

584,397

386,219

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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 1 October 2021 and were signed on its behalf by:

D J Pearson - Director

1.	STATUTORY INFORMATION

Premier People Solutions 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.

Turnover

Turnover from the provision of training and related services supplied during the year is recognised by reference to the stage of completion of the work excluding value added tax.

Goodwill

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

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.

Computer software is being amortised evenly over its estimated useful life of ten years.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Fixtures, fittings and equipment

-

10% on reducing balance

Government grants

Government grants of a revenue nature which do not have performance conditions attached are recognised as income in full in the period in which entitlement has been satisfied.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 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.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to the profit and loss account as incurred.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 48 (2020 - 45 ) .

4.	INTANGIBLE FIXED ASSETS

Other

intangible

Goodwill

assets

Totals

£

£

£

COST

At 1 April 2020

200,000

654,435

854,435

Additions

-

157,552

157,552

Disposals

-

(10,600

)

(10,600

)

At 31 March 2021

200,000

801,387

1,001,387

AMORTISATION

At 1 April 2020

200,000

111,725

311,725

Charge for year

-

74,427

74,427

Eliminated on disposal

-

(7,420

)

(7,420

)

At 31 March 2021

200,000

178,732

378,732

NET BOOK VALUE

At 31 March 2021

-

622,655

622,655

At 31 March 2020

-

542,710

542,710

5.	TANGIBLE FIXED ASSETS

Fixtures,

fittings

and

equipment

£

COST

At 1 April 2020

205,418

Additions

1,609

Disposals

(70,552

)

At 31 March 2021

136,475

DEPRECIATION

At 1 April 2020

89,194

Charge for year

35,403

Eliminated on disposal

(56,158

)

At 31 March 2021

68,439

NET BOOK VALUE

At 31 March 2021

68,036

At 31 March 2020

116,224

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.21

31.3.20

£

£

Trade debtors

1,237,863

978,346

Other debtors

1,026,866

1,372,825

2,264,729

2,351,171

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.21

31.3.20

£

£

Bank loans and overdrafts

37,500

3,454

Trade creditors

1,571,117

1,726,284

Taxation and social security

461,274

525,143

Other creditors

1,092,081

1,132,773

3,161,972

3,387,654

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.3.21

31.3.20

£

£

Bank loans

212,500

-

9.	SECURED DEBTS

The following secured debts are included within creditors:

31.3.21

31.3.20

£

£

Bank loans

250,000

3,454

Purchasing card

356,989

383,880

606,989

387,334

The purchasing card and bank loan are secured by a fixed and floating charge over the assets of the company.

10.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was qualified on the following basis:

Basis for qualified opinion

We were unable to satisfy ourselves over the recoverability of sales reserves amounting to £320,166 included in the financial statements due to limitation of scope. We have been unable to obtain sufficient available supporting evidence to verify the recoverability of these reserves by using audit procedures. Consequently we were unable to determine whether any adjustments for the reserves are necessary.

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our qualified opinion.

Mr Philip Samuel (Senior Statutory Auditor)

for and on behalf of Beaumonts (Statutory Auditors)

The following is an extract from Beaumonts (Statutory Auditors) Report of the Auditors.

This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.

11.	FINANCIAL COMMITMENTS

The total financial commitments, guarantees and contingencies which are not included in the balance sheet amount to £187,844 (2020 - £229,975).

12.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 March 2021 and 31 March 2020:

31.3.21

31.3.20

£

£

A Woodcock

Balance outstanding at start of year

438,655

389,106

Amounts advanced

-

49,549

Amounts repaid

(79,000

)

-

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

359,655

438,655