PEOPLE LONDON LTD Company accounts

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COMPANY REGISTRATION NUMBER: 10107099

PEOPLE LONDON LTD

Unaudited Financial Statements

31 December 2016

FIDUCI-CORP (UK) SERVICES LIMITED

Chartered accountant

PEOPLE LONDON LTD

Financial Statements

Period from 6 April 2016 to 31 December 2016

Contents	Page

Directors' report	1

Statement of comprehensive income	2

Statement of financial position	3

Statement of changes in equity	4

Notes to the financial statements	5

The following pages do not form part of the financial statements

Detailed income statement	9

Notes to the detailed income statement	10

PEOPLE LONDON LTD

Directors' Report

Period from 6 April 2016 to 31 December 2016

The directors present their report and the unaudited financial statements of the company for the period ended 31 December 2016 .

Principal activities

The principal activity of the company during the year was the provision of engineering and consulting services.

Directors

The directors who served the company during the period were as follows:

Mr Evangelos Ptochos	(Appointed 6 April 2016)
Fiduci-Corp Directors Limited	(Appointed 6 April 2016)

Small company provisions

This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.

This report was approved by the board of directors on 14 March 2017 and signed on behalf of the board by:

Mr Evangelos Ptochos	Fiduci-Corp Directors Limited
Director	Director

Fiduci-Corp (UK) Services Limited
Company Secretary

PEOPLE LONDON LTD

Statement of Comprehensive Income

Period from 6 April 2016 to 31 December 2016

	Period from
	6 Apr 16 to
	31 Dec 16
Note	€
Turnover	13,786

	--------
Gross profit	13,786

Administrative expenses		( 7,450)
		--------
Operating profit	4	6,336

Interest payable and similar expenses	6	( 1)
		--------
Profit before taxation		6,335

Tax on profit	–
	-------
Profit for the financial period and total comprehensive income	6,335
	-------

All the activities of the company are from continuing operations.

The company has no other recognised items of income and expenses other than the results for the period as set out above.

PEOPLE LONDON LTD

Statement of Financial Position

31 December 2016

	31 Dec 16
Note	€	€

Fixed assets

Investments	7		1,320

Current assets

Debtors	8	5,812
Cash at bank and in hand		6,286
		--------
		12,098

Creditors: amounts falling due within one year	9	6,083
		--------
Net current assets			6,015
			-------
Total assets less current liabilities			7,335
			-------
Net assets			7,335
			-------

Capital and reserves

Called up share capital		1,000
Profit and loss account		6,335
		-------
Members funds		7,335
		-------

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

For the period ending 31 December 2016 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors responsibilities:

- The members have not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476 ;

- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

These financial statements were approved by the board of directors and authorised for issue on 14 March 2017 , and are signed on behalf of the board by:

Mr Evangelos Ptochos	Fiduci-Corp Directors Limited
Director	Director

Company registration number: 10107099

PEOPLE LONDON LTD

Statement of Changes in Equity

Period from 6 April 2016 to 31 December 2016

	Called up share capital	Profit and loss account	Total
	€	€	€
At 6 April 2016	–	–	–

Profit for the period		6,335	6,335
	----	-------	-------
Total comprehensive income for the period	–	6,335	6,335

Issue of shares	1,000	–	1,000
	-------	----	-------
Total investments by and distributions to owners	1,000	–	1,000

	-------	-------	-------
At 31 December 2016	1,000	6,335	7,335
	-------	-------	-------

PEOPLE LONDON LTD

Notes to the Financial Statements

Period from 6 April 2016 to 31 December 2016

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is St Georges House, 6th floor, 15 Hanover Square, London, W1S 1HS, United Kingdom.

2. Statement of compliance

These financial statements have been prepared in compliance with the provisions of FRS 102 Section 1A, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss. The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss. The financial statements are prepared in euro, which is the functional currency of the entity.

Transition to FRS 102

The entity transitioned from previous UK GAAP to FRS 102 as at 1 January 2015. Details of how FRS 102 has affected the reported financial position and financial performance is given in note 11.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Foreign currencies

Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.

Investments

Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.

Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.

Financial instruments

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 entity after deducting all of its financial liabilities. Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability. Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity.

4. Operating profit

Operating profit or loss is stated after crediting:

	Period from
	6 Apr 16 to
	31 Dec 16
	€
Foreign exchange differences	( 2)
	----

5. Staff costs

The average number of persons employed by the company during the period, including the directors, amounted to Nil.

This means the no persons, including the directors, were in receipt of remuneration from the company as employees.

6. Interest payable and similar expenses

	Period from
	6 Apr 16 to
	31 Dec 16
	€
Interest on banks loans and overdrafts	1
	----

7. Investments

	Shares in group undertakings
	€
Cost
Additions	1,320
	-------
At 31 December 2016	1,320
	-------
Impairment
At 6 Apr 2016 and 31 Dec 2016	–
	-------

Carrying amount
At 31 December 2016	1,320
	-------

8. Debtors

	31 Dec 16
	€
Trade debtors	5,320
Other debtors	492
	-------
	5,812
	-------

9. Creditors: amounts falling due within one year

	31 Dec 16
	€
Trade creditors	1,756
Social security and other taxes	1,993
Other creditors	2,334
	-------
	6,083
	-------

10. Related party transactions

The company was under the control of Mr Evangelos Ptochos throughout the current period. Mr Evangelos Ptochos is one of the directors and sole shareholder.

11. Transition to FRS 102

These are the first financial statements that comply with FRS 102. The company transitioned to FRS 102 on 1 January 2015.

No transitional adjustments were required in equity or profit or loss for the period.

PEOPLE LONDON LTD

Management Information

Period from 6 April 2016 to 31 December 2016

The following pages do not form part of the financial statements.

PEOPLE LONDON LTD

Detailed Income Statement

Period from 6 April 2016 to 31 December 2016

	Period from
	6 Apr 16 to
	31 Dec 16
	€
Turnover	13,786

	--------
Gross profit	13,786

Overheads

Administrative expenses	7,450

	-------
Operating profit	6,336

Interest payable and similar expenses	1

	-------
Profit before taxation	6,335
	-------

PEOPLE LONDON LTD

Notes to the Detailed Income Statement

Period from 6 April 2016 to 31 December 2016

	Period from
	6 Apr 16 to
	31 Dec 16
	€

Administrative expenses

Courier expenses	40
Services rendered	3,400
Accountancy fees	3,649
Bank charges	363
Foreign currency gains/losses	(2)
	-------
	7,450
	-------

Interest payable and similar expenses

Interest on banks loans and overdrafts	1
	----