Premier People Solutions Limited - Accounts to registrar (filleted) - small 23.2.5

REGISTERED NUMBER: 05997338 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 March 2023

for

Premier People Solutions Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

Accountants' Report

6

DIRECTORS:

D J Pearson

A Woodcock

C Mouatt

C Smith

REGISTERED OFFICE:

3 Derwent House

Richmond Business Park

Sidings Court

Doncaster

South Yorkshire

DN4 5NL

REGISTERED NUMBER:

05997338 (England and Wales)

ACCOUNTANTS:

Beaumonts

8 Navigation Court

Calder Park

Wakefield

West Yorkshire

WF2 7BJ

FIXED ASSETS

Intangible assets

4

726,867

703,298

Tangible assets

5

55,928

47,519

782,795

750,817

CURRENT ASSETS

Debtors

6

3,261,051

2,634,526

Cash at bank and in hand

109,665

567,641

3,370,716

3,202,167

CREDITORS

Amounts falling due within one year

7

3,641,107

3,072,390

NET CURRENT (LIABILITIES)/ASSETS

(270,391

)

129,777

TOTAL ASSETS LESS CURRENT LIABILITIES

512,404

880,594

CREDITORS

Amounts falling due after more than one year

8

(116,666

)

(166,666

)

PROVISIONS FOR LIABILITIES

(6,620

)

(4,117

)

NET ASSETS

389,118

709,811

CAPITAL AND RESERVES

Called up share capital

831

1,000

Capital redemption reserve

169

-

Retained earnings

388,118

708,811

SHAREHOLDERS' FUNDS

389,118

709,811

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 Board of Directors and authorised for issue on 20 December 2023 and were signed on its behalf by:

C Mouatt - 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

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 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 43 (2022 - 45 ) .

4.	INTANGIBLE FIXED ASSETS

Other

intangible

Goodwill

assets

Totals

£

£

£

COST

At 1 April 2022

200,000

970,141

1,170,141

Additions

-

181,462

181,462

Disposals

-

(85,799

)

(85,799

)

At 31 March 2023

200,000

1,065,804

1,265,804

AMORTISATION

At 1 April 2022

200,000

266,843

466,843

Charge for year

-

105,715

105,715

Eliminated on disposal

-

(33,621

)

(33,621

)

At 31 March 2023

200,000

338,937

538,937

NET BOOK VALUE

At 31 March 2023

-

726,867

726,867

At 31 March 2022

-

703,298

703,298

5.	TANGIBLE FIXED ASSETS

Fixtures,

fittings

and

equipment

£

COST

At 1 April 2022

125,307

Additions

27,702

Disposals

(30,807

)

At 31 March 2023

122,202

DEPRECIATION

At 1 April 2022

77,788

Charge for year

18,413

Eliminated on disposal

(29,927

)

At 31 March 2023

66,274

NET BOOK VALUE

At 31 March 2023

55,928

At 31 March 2022

47,519

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.23

31.3.22

£

£

Trade debtors

2,567,948

1,309,426

Other debtors

693,103

1,325,100

3,261,051

2,634,526

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.23

31.3.22

£

£

Bank loans and overdrafts

50,000

50,000

Trade creditors

1,812,353

1,300,755

Taxation and social security

439,303

374,671

Other creditors

1,339,451

1,346,964

3,641,107

3,072,390

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.3.23

31.3.22

£

£

Bank loans

116,666

166,666

9.	SECURED DEBTS

The following secured debts are included within creditors:

31.3.23

31.3.22

£

£

Bank loans

166,666

216,666

Purchasing card

153,934

321,340

320,600

538,006

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

10.	FINANCIAL COMMITMENTS

The total financial commitments, guarantees and contingencies which are not included in the balance sheet amount to £134,866 (2022 - £140,077).

11.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 March 2023 and 31 March 2022:

31.3.23

31.3.22

£

£

A Woodcock

Balance outstanding at start of year

609,655

359,655

Amounts advanced

-

250,000

Amounts repaid

(250,000

)

-

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

359,655

609,655

D J Pearson

Balance outstanding at start of year

250,100

-

Amounts advanced

-

250,100

Amounts repaid

(250,000

)

-

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

100

250,100

12.	POST BALANCE SHEET EVENTS

On 9 June 2023, the company acquired 56 of its own shares.

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Premier People Solutions Limited for the year ended 31 March 2023 which comprise the Income Statement, Balance Sheet, Statement of Changes in Equity and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Premier People Solutions Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Premier People Solutions Limited and state those matters that we have agreed to state to the Board of Directors of Premier People Solutions Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Premier People Solutions Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Premier People Solutions Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Premier People Solutions Limited. You consider that Premier People Solutions Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Premier People Solutions Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Beaumonts

8 Navigation Court

Calder Park

Wakefield

West Yorkshire

WF2 7BJ

20 December 2023