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

REGISTERED NUMBER: 10424873 (England and Wales)

Unaudited Financial Statements

For The Year Ended 31st October 2018

for

Money People Solutions Limited

T/A

Debt Saving Experts

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

C E Stone

M K Roberts

REGISTERED OFFICE:

Suite 128

30 The Downs

Altrincham

Cheshire

WA14 2PX

REGISTERED NUMBER:

10424873 (England and Wales)

ACCOUNTANTS:

Dale Pickard & Co

Chartered Accountants

Bank House

4 Wharf Road

Sale

Cheshire

M33 2AF

FIXED ASSETS

Tangible assets

4

-

705

CURRENT ASSETS

Debtors

5

108

150

Cash at bank

945

608

1,053

758

CREDITORS

Amounts falling due within one year

6

3,941

2,637

NET CURRENT LIABILITIES

(2,888

)

(1,879

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(2,888

)

(1,174

)

PROVISIONS FOR LIABILITIES

-

134

NET LIABILITIES

(2,888

)

(1,308

)

CAPITAL AND RESERVES

Called up share capital

10

10

Retained earnings

(2,898

)

(1,318

)

(2,888

)

(1,308

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st October 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st October 2018 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 of Part 15 of the Companies Act 2006 relating to small companies.

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 on 21st December 2018 and were signed on its behalf by:

C E Stone - Director

M K Roberts - Director

1.	STATUTORY INFORMATION

Money 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 the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates,

value added tax and other sales taxes.

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

-

25% on cost

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.

Going concern

Despite significant efforts, it has so far proved impossible for the directors to obtain additional sales contracts. If

new contracts are not forthcoming, the directors will need to cease trade. The directors have concluded that a

material uncertainty exists that casts significant doubt upon the company's ability to continue as a going concern

and that, therefore, the company may be unable to realise its assets and discharge its liabilities in the normal

course of business. However, given the continuing efforts to secure new contracts, the directors continue to adopt

the going concern basis of accounting.

The directors loan accounts amounted to £3,829 at the year end. As a result of the material uncertainty the

directors have agreed not to withdraw their loans unless sufficient alternative funding is available.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2017 - 2 ).

4.	TANGIBLE FIXED ASSETS

Computer

equipment

£

COST

At 1st November 2017

940

Disposals

(940

)

At 31st October 2018

-

DEPRECIATION

At 1st November 2017

235

Eliminated on disposal

(235

)

At 31st October 2018

-

NET BOOK VALUE

At 31st October 2018

-

At 31st October 2017

705

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Prepayments

108

150

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Trade creditors

112

-

Directors' loan accounts

3,829

2,637

3,941

2,637

7.	RELATED PARTY DISCLOSURES

The Directors' loan accounts represent amounts due to the directors, C E Stone and M K Roberts. The loans are

unsecured and interest free with no fixed terms for repayment.