Powered by Humans Limited
Unaudited Financial Statements
For the year ended 31 March 2022
For Filing with Registrar
Company Registration No. 08769514 (England and Wales)
Powered by Humans Limited
Company Information
Directors
J J Boyne
C E Wright
K A O'Loughlin
R C Stainton
Secretary
C E Wright
Company number
08769514
Registered office
The Lockhouse
Mead Lane
Hertford
United Kingdom
SG13 7AX
Accountants
Moore Kingston Smith LLP
Charlotte Building
17 Gresse Street
London
W1T 1QL
Business address
The Lockhouse
Mead Lane
Hertford
United Kingdom
SG13 7AX
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Contents
Page
Balance sheet
1
Notes to the financial statements
2 - 4
Powered by Humans Limited
Balance Sheet
As at 31 March 2022
Page 1
2022
2021
Notes
£
£
£
£
Current assets
Debtors
3
981,538
651,766
Cash at bank and in hand
302,707
365,299
1,284,245
1,017,065
Creditors: amounts falling due within one year
4
(469,572)
(301,603)
Net current assets
814,673
715,462
Capital and reserves
Called up share capital
5
50
50
Profit and loss reserves
814,623
715,412
Total equity
814,673
715,462
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.
true
For the financial year ended 31 March 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
T
he members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476
.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved by the board of directors and authorised for issue on 29 September 2022 and are signed on its behalf by:
K A O'Loughlin
Director
Company Registration No. 08769514
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Notes to the Financial Statements
For the year ended 31 March 2022
Page 2
1
Accounting policies
Company information
Powered by Humans Limited is a
private
company
limited by shares
incorporated in
England and Wales
.
The registered office is
The Lockhouse, Mead Lane, Hertford, United Kingdom, SG13 7AX.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.
The financial statements are prepared in
sterling
, which is the functional currency of the company.
Monetary a
mounts
in these financial statements are
rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Turnover
Turnover
is recognised to the extent that it is probable that the economic benefits will flow to the company and the turnover can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.
Rendering of services
Turnover from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
1.3
Cash at bank and in hand
Cash at bank and in hand
are basic financial assets
and
include cash in hand
and
deposits held at call with
banks.
1.4
Financial instruments
The company has only basic financial instruments held at amortised cost.
1.5
Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.
Changes in the fair value of derivatives that are designated and qualify as fair value hedges are recognised in profit or loss immediately, together with any changes in the fair value of the hedged asset or liability that are attributable to the hedged risk.
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Notes to the Financial Statements (Continued)
For the year ended 31 March 2022
1
Accounting policies
(Continued)
Page 3
1.6
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the
profit and loss account
because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The
company’s
liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
Deferred tax
Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.
The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the
profit and loss account
, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the
company
has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.
1.7
Foreign exchange
Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation
in the period
are included in profit or loss.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was 0 (2021: nil). The cost incurred for services provided by common directors and employees is recognised in the financial statements of related undertaking Smyle Creative Limited and is not recharged.
2022
2021
Number
Number
Total
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Notes to the Financial Statements (Continued)
For the year ended 31 March 2022
Page 4
3
Debtors
2022
2021
Amounts falling due within one year:
£
£
Trade debtors
150,924
20,529
Corporation tax recoverable
18,881
Amounts owed by group undertakings
819,256
476,026
Other debtors
11,358
136,330
981,538
651,766
4
Creditors: amounts falling due within one year
2022
2021
£
£
Trade creditors
35,941
Other creditors
469,572
265,662
469,572
301,603
5
Called up share capital
2022
2021
2022
2021
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary J shares of £1 each
25
25
25
25
Ordinary K shares of £1 each
25
25
25
25
50
50
50
50
6
Related party transactions
The company has taken exemption under section 33 Related Party Disclosures paragraph 33.1A from disclosing transactions with other members of a wholly owned group.
7
Parent company
The smallest
and largest
group undertaking in which the results of the company are consolidated is that headed by Smyle Creative Group Limited. The consolidated accounts are available to the public and at the registered office: The Lockhouse, Mead Lane, H
e
rtford, England, SG13 7AX.