The Performance Partnership Worldwide Lt - Accounts to registrar (filleted) - small 23.2.5

REGISTERED NUMBER: 06910067 (England and Wales)

FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2023

FOR

THE PERFORMANCE PARTNERSHIP WORLDWIDE

LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

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

-

1,590

Tangible assets

5

202

599

202

2,189

CURRENT ASSETS

Debtors

6

28,778

6,670

Cash at bank and in hand

2,256

402

31,034

7,072

CREDITORS

Amounts falling due within one year

7

169,774

164,387

NET CURRENT LIABILITIES

(138,740

)

(157,315

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(138,538

)

(155,126

)

CAPITAL AND RESERVES

Called up share capital

8

1

1

Retained earnings

(138,539

)

(155,127

)

SHAREHOLDERS' FUNDS

(138,538

)

(155,126

)

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31st March 2023 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 28th March 2024 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 company is reliant on the continued support of the creditors which if this is wasn't forthcoming would result in the company not being able to meet its debts as they fall due.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2022 - 1 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1st April 2022

and 31st March 2023

7,950

AMORTISATION

At 1st April 2022

6,360

Amortisation for year

1,590

At 31st March 2023

7,950

NET BOOK VALUE

At 31st March 2023

-

At 31st March 2022

1,590

5.	TANGIBLE FIXED ASSETS

Computer

equipment

£

COST

At 1st April 2022

and 31st March 2023

1,842

DEPRECIATION

At 1st April 2022

1,243

Charge for year

397

At 31st March 2023

1,640

NET BOOK VALUE

At 31st March 2023

202

At 31st March 2022

599

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.23

31.3.22

£

£

Trade debtors

3,456

6,088

Other debtors

25,322

582

28,778

6,670

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.23

31.3.22

£

£

Bank loans and overdrafts

32,364

29,459

Trade creditors

39,119

58,137

Taxation and social security

24,809

15,058

Other creditors

73,482

61,733

169,774

164,387

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.3.23

31.3.22

value:

£

£

1

Ordinary

£1

1

1

9.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

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

31.3.23

31.3.22

£

£

D M Shephard

Balance outstanding at start of year

-

-

Amounts advanced

24,354

-

Amounts repaid

-

-

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

24,354

-