REGISTERED NUMBER:
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UNAUDITED FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED 30 APRIL 2020 |
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THE WAY AHEAD PEOPLE LIMITED |
REGISTERED NUMBER:
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UNAUDITED FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED 30 APRIL 2020 |
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FOR |
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THE WAY AHEAD PEOPLE LIMITED |
THE WAY AHEAD PEOPLE LIMITED (REGISTERED NUMBER: SC476202) |
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CONTENTS OF THE FINANCIAL STATEMENTS |
for the year ended 30 April 2020 |
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Company Information | 1 |
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Balance Sheet | 2 |
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Notes to the Financial Statements | 4 |
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THE WAY AHEAD PEOPLE LIMITED |
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COMPANY INFORMATION |
for the year ended 30 April 2020 |
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DIRECTOR: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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THE WAY AHEAD PEOPLE LIMITED (REGISTERED NUMBER: SC476202) |
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BALANCE SHEET |
30 April 2020 |
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2020 | 2019 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Intangible assets | 4 |
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Tangible assets | 5 |
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CURRENT ASSETS |
Stocks | 6 |
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Debtors | 7 |
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Cash at bank |
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CREDITORS: AMOUNTS FALLING
DUE WITHIN ONE YEAR |
8 |
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NET CURRENT LIABILITIES | ( |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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( |
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CAPITAL AND RESERVES |
Called up share capital |
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Retained earnings | ( |
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SHAREHOLDERS' FUNDS | ( |
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THE WAY AHEAD PEOPLE LIMITED (REGISTERED NUMBER: SC476202) |
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BALANCE SHEET - continued |
30 April 2020 |
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The director acknowledges her 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. |
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In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered. |
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The financial statements were approved by the director and authorised for issue on
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THE WAY AHEAD PEOPLE LIMITED (REGISTERED NUMBER: SC476202) |
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NOTES TO THE FINANCIAL STATEMENTS |
for the year ended 30 April 2020 |
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1. | STATUTORY INFORMATION |
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The Way Ahead People Limited is a
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2. | ACCOUNTING POLICIES |
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BASIS OF PREPARING THE FINANCIAL STATEMENTS |
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GOING CONCERN |
At 30 April 2020 total liabilities of the company exceeded total assets by £32,680. The company is dependent upon the continuing financial support of its creditors. The director, who is the company's only creditor, has confirmed she will continue to provide support and therefore considers it to be appropriate to prepare the accounts on a going concern basis. |
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The financial statements have been prepared on a going concern basis. The Director has reviewed and considered relevant information, including the annual budget and future cash flows in making her assessment. In particular, in response to the COVID-19 pandemic, the Director has tested her cash flow analysis to take into account the impact on their business of possible scenarios brought on by the impact of COVID-19, alongside the measures that they can take to mitigate the impact. Based on these assessments, given the measures that could be undertaken to mitigate the current adverse conditions, and the current resources available, the Director has concluded that they can continue to adopt the going concern basis in preparing the annual report and accounts. |
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TURNOVER |
Turnover is measured at the fair value of the consideration received or receivable in relation to business consultancy services, excluding discounts, rebates, value added tax and other sales taxes. |
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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. |
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Intangible assets are being amortised evenly over their estimated useful life of 5 years. |
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TANGIBLE FIXED ASSETS |
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life. |
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Computer equipment - 33% per annum straight line basis |
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STOCKS |
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. |
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THE WAY AHEAD PEOPLE LIMITED (REGISTERED NUMBER: SC476202) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
for the year ended 30 April 2020 |
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2. | ACCOUNTING POLICIES - continued |
TAXATION |
Taxation for the year comprises current tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
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Current taxation assets and liabilities are not discounted. |
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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. |
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3. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was
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4. | INTANGIBLE FIXED ASSETS |
Patents |
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licences |
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COST |
At 1 May 2019 |
and 30 April 2020 |
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AMORTISATION |
At 1 May 2019 |
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Amortisation for year |
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At 30 April 2020 |
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NET BOOK VALUE |
At 30 April 2020 |
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At 30 April 2019 |
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5. | TANGIBLE FIXED ASSETS |
Computer |
equipment |
£ |
COST |
At 1 May 2019 |
and 30 April 2020 |
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DEPRECIATION |
At 1 May 2019 |
and 30 April 2020 |
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NET BOOK VALUE |
At 30 April 2020 |
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At 30 April 2019 |
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THE WAY AHEAD PEOPLE LIMITED (REGISTERED NUMBER: SC476202) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
for the year ended 30 April 2020 |
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6. | STOCKS |
2020 | 2019 |
£ | £ |
Stocks |
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7. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2020 | 2019 |
£ | £ |
Other debtors |
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8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2020 | 2019 |
£ | £ |
Other creditors |
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9. | RELATED PARTY DISCLOSURES |
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Included within "Other creditors" is a balance of £38,918 (2019: £34,240) due to the director. The loan is interest free and has no fixed terms of repayment. |