Raising Achievement through One 2 One Learning
Public Benefit Statement
In considering the objectives and activities, the Trustees have considered the Charity Commission's guidance on Public Benefit to ensure that the organisation is meeting its Public Benefit requirements.
ACHIEVEMENTS AND PERFORMANCE
It has been an exciting year for Personal Success. We have been growing from strength to strength since our establishment in 2011.
The Board of Trustees has been working tirelessly to ensure that we deliver and sustain our collective aim and objectives to advanced education for local people in Liverpool, especially the most deprived. From 2011-2022, we have supported almost two thousand and five Hundred in their educational attainment and achievements.
For the National curriculum subjects: Mathematics, English Language, Physics, Chemistry and Biology, all of our students achieved to the best of their ability. In respect of this, in addition to the singular intervention and contribution of Personal Success we acknowledge mainstream schools have a part to play in this improvement. The parents and carers have provided positive feedback about Personal Success' contribution to their children's education in the recent years. Students also commented positively about the impact of Personal Success and this has been captured through interviews to find out, how our activities are impacting on students' educational attainment.
This success would not have been achieved without the support of our Funders such as, John Moore Foundation. WEA, Torus Foundation, LCVS, community foundation, National Heritage Lottery and Partners. Also Parents' contributions, stakeholder support, volunteers and non-Teaching staff who support our values and aspirations. We gratefully acknowledge all of their contributions.
In the area of Adult education, especially in the area of employability, we entered into it as a relative. Newcomer. However, we are now recognised as one of the outstanding centres that provide skills for. Jobs in South Liverpool. We are unique in our provision as individuals from over 23 nationalities accessed our services in 2015-2022. This would not have been possible without the support of our partners especially WEA, LCVS, JMF, community foundation, Torus Foundations and ESF.
We have been running courses successfully for WEA for over 12 years; such as:
1 Employability
Personal Success, 15 High Park Street, Toxteth Town Hall , Room 5 . www.personalsuccessonline.com. Email: pssedu@personalsuccessonline.com . Tel: 01514749051, Mobile: 07886019690.
Raising Achievement through One 2 One Learning
2 Cultural Cookery 3 Sewing 4 Community Interpreting Courses L2 5 Life in the UK 6 Driving Theory Test 7 Mentoring Course 8 Functional Skill Maths Preparatory classes 9 English Language for the professionals 10 IT 11 English as Second Language (ESOL) at all level. 12 Number Made Easy 13 Community Interpreting 14 Seeker to Citizenship courses 15 Health and social care L2 and L3 16 Safety At work L2 17 Food safety L2 18 Security Training Preparatory classes 19 Child Minder courses 20 Functional skill maths and English through ncfe awarding body 21 Emergency First Aid though Qualsafe awarding body
We have benefited enormously through our partnership with WEA, LCVS, JMF, community Foundation, DWP and Torus Foundation which we feel has been a "win, win" relationship as we have enabled them to access students who were hard to reach for them but assessable for use.
Impressively, over 1400 people have completed WEA courses with us in past years, and presently, we are over subscribed to the level that we cannot accommodate the demand. Presently, over 40 students are on the waiting list of which 28 of them were to register for ESOL. Another key strategic partner for Personal Success is John Moore Foundations and DWP. Presently, we are now running accredited courses at NVQ level this includes Health and Social Care, Customer Service and Security Training courses. This has been another way to generate some funds, through delivering the training for them as their local partner for Merseyside area. Recently we have had the human resources to deliver Cyber security training for the local community.
The major challenge to Personal Success is shortage of funds to carry out our activities and to engage more staff to work for the charity.
Another important challenge is ability to keep up with high cost of rent and overhead that shrinking our capacity to expand and expected and to be able to become shelf sustainable to avoid constant depend on found. It is urgent that Personal Success explores avenues to find continuing support for this provision. Personal Success has many young and adult volunteers and their contribution is immense. Several of our volunteers have gained employment or entered into further education or training, this year alone we supported 32 volunteers.
Personal Success, 15 High Park Street, Toxteth Town Hall , Room 5 . www.personalsuccessonline.com. Email: pssedu@personalsuccessonline.com . Tel: 01514749051, Mobile: 07886019690.
Raising Achievement through One 2 One Learning
Plans for Future Periods
Looking ahead, the priorities for 2022-2023 are to raise enough funds in order to meet our immediate demand. We will encourage more local people to come forward to join Personal Success and together we will achieve our aim and aspiration by making education, training and employability support open and accessible to all. We are now registered with awarding bodies. They are Trinity college, ncfe, ASDAN , Qualsafe and Ascentis awarding body. We are now running other courses like Food and Safety, Security Preparatory courses, Health and social care and Emergency First Aid will be now included in our courses. The coming year we intend to set up Agency wing of our service, such that most of our students will be employed by us and sent out employers in the areas like health sectors, Security Agency and cleaning operatives.
These will enable us to be more sustainable and avoiding total dependent of funding. As will are struggling to raise funding, Executive Direct will now be sent for training in Management skills and bid writing. In 2022 we have beginning to raise more fund unlike past years, will hope to raise up to £100000, and will also planning to look into social funding for our future projects.
Personal Success, 15 High Park Street, Toxteth Town Hall , Room 5 . www.personalsuccessonline.com. Email: pssedu@personalsuccessonline.com . Tel: 01514749051, Mobile: 07886019690.
Registered number: 07832926
PERSONAL SUCCESS DIRECTORS' REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 NOVEMBER 2022
Accountants247 Limited
Personal Success Directors' Report and Unaudited Financial Statements For The Year Ended 30 November 2022
Contents
| Page | |
|---|---|
| Company Information | 1 |
| Directors' Report | 2 |
| Accountant's Report | 3 |
| Income and Expenditure Account | 4 |
| Balance Sheet | 5 |
| Notes to the Financial Statements | 6—7 |
| The following pages do not form part of the statutory accounts: | |
| Detailed Income and Expenditure Account | 8 |
Personal Success Company Information For The Year Ended 30 November 2022
| Directors | Mr Olakunle Fatai Adesina |
|---|---|
| Mr Magboul Ali | |
| Mr Aminu Audu | |
| Mr Munir Bakare | |
| Ms Fatimah Bello | |
| Mr Morufu Oladipupo | |
| Mr Tajudeen Oladipupo | |
| Company Number | 07832926 |
| Registered Office | 15 High Park Street |
| Toxteth | |
| Liverpool | |
| England | |
| L8 8DX | |
| Accountants | Accountants247 Limited |
| Unit 4 Whitworth Court | |
| Runcorn | |
| WA7 1WA |
Page 1
Personal Success Company No. 07832926 Directors' Report For The Year Ended 30 November 2022
The directors present their report and the financial statements for the year ended 30 November 2022.
Directors
The directors who held office during the year were as follows:
Mr Olakunle Fatai Adesina Mr Magboul Ali Appointed 16/01/2022 Mr Aminu Audu Appointed 16/01/2022 Mr Munir Bakare Appointed 16/01/2022 Ms Fatimah Bello Appointed 16/01/2022 Mr Morufu Oladipupo Mr Tajudeen Oladipupo Appointed 16/01/2022
Statement of Directors' Responsibilities
The directors are responsible for preparing the Directors' Report and the financial statements in accordance with applicable law and regulations.
Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the surplus or deficit of the company for that period. In preparing the financial statements the directors are required to:
-
select suitable accounting policies and then apply them consistently;
-
make judgments and accounting estimates that are reasonable and prudent;
-
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.
The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
The directors are responsible for the maintenance and integrity of the corporate and financial information included on the company's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.
Small Company Rules
This report has been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
On behalf of the board
Mr Morufu Oladipupo
Director
31/08/2023
Page 2
Personal Success Accountant's Report For The Year Ended 30 November 2022
In accordance with the engagement letter dated , and in order to assist you to fulfil your duties under the Companies Act 2006, we have compiled the financial statements of the company from the accounting records and information and explanations you have given to us.
This report is made to the directors in accordance with the terms of our engagement. Our work has been undertaken to prepare for approval by the directors the financial statements that we have been engaged to compile, to report to the directors that we have done so, and to state those matters that we have agreed to state to them in this report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the Company and the Company's directors for our work or for this report.
You have acknowledged on the balance sheet as at year ended 30 November 2022 your duty to ensure that the company has kept proper accounting records and to prepare financial statements that give a true and fair view under the Companies Act 2006. You consider that the company is exempt from the statutory requirement for an audit for the year.
We have not been instructed to carry out an audit of the financial statements. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the financial statements.
Signed
Accountants247 Ltd
31/08/2023
Accountants247 Limited Unit 4 Whitworth Court Runcorn WA7 1WA
Page 3
Personal Success Income and Expenditure Account For The Year Ended 30 November 2022
| Notes TURNOVER Cost of sales GROSS SURPLUS Administrative expenses Other operating income OPERATING SURPLUS Other interest receivable and similar income SURPLUS FOR THE FINANCIAL YEAR |
2022 £ 31,870 (12,094) 19,776 (20,681) 11,770 10,865 1 10,866 |
2021 £ 19,515 (5,256) |
|---|---|---|
| 14,259 (14,032) 1,500 |
||
| 1,727 2 |
||
| 1,729 |
The notes on pages 6 to 7 form part of these financial statements.
Page 4
Personal Success Balance Sheet As At 30 November 2022
| Notes FIXED ASSETS Tangible Assets 4 CURRENT ASSETS Debtors 5 Cash at bank and in hand Creditors: Amounts Falling Due Within One Year 6 NET CURRENT ASSETS (LIABILITIES) TOTAL ASSETS LESS CURRENT LIABILITIES NET ASSETS Income and Expenditure Account MEMBERS' FUNDS |
2022 £ £ 3,949 3,949 13,357 6,080 19,437 (840) 18,597 22,546 22,546 22,546 22,546 |
2022 £ £ 3,949 3,949 13,357 6,080 19,437 (840) 18,597 22,546 22,546 22,546 22,546 |
2021 £ £ 1,364 1,364 8,607 1,859 10,466 (150) 10,316 11,680 11,680 11,680 11,680 |
2021 £ £ 1,364 1,364 8,607 1,859 10,466 (150) 10,316 11,680 11,680 11,680 11,680 |
|---|---|---|---|---|
| 3,949 18,597 |
1,364 10,316 |
|||
| 19,437 (840) |
10,466 (150) |
|||
| 22,546 | 11,680 | |||
| 22,546 | 11,680 | |||
| 22,546 | 11,680 | |||
| 22,546 | 11,680 |
For the year ending 30 November 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.
On behalf of the board
Mr Morufu Oladipupo Director
31/08/2023
The notes on pages 6 to 7 form part of these financial statements.
Page 5
Personal Success Notes to the Financial Statements For The Year Ended 30 November 2022
1. General Information
Personal Success is a private company, limited by guarantee, incorporated in England & Wales, registered number 07832926. The registered office is 15 High Park Street, Toxteth, Liverpool, England, L8 8DX.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Fixtures & Fittings 10% Straight Line Computer Equipment 15% Straight Line
2.4. Government Grant
Government grants are recognised in the income and expenditure account in an appropriate manner that matches them with the expenditure towards which they are intended to contribute.
Grants for immediate financial support or to cover costs already incurred are recognised immediately in the income and expenditure account. Grants towards general activities of the entity over a specific period are recognised in the income and expenditure account over that period.
Grants towards fixed assets are recognised over the expected useful lives of the related assets and are treated as deferred income and released to the income and expenditure account over the useful life of the asset concerned.
All grants in the income and expenditure account are recognised when all conditions for receipt have been complied with.
3. Average Number of Employees
Average number of employees, including directors, during the year was as follows: NIL (2021: )
Page 6
Personal Success Notes to the Financial Statements (continued) For The Year Ended 30 November 2022
4. Tangible Assets
| Cost As at 1 December 2021 Additions As at 30 November 2022 Depreciation As at 1 December 2021 Provided during the period As at 30 November 2022 Net Book Value As at 30 November 2022 As at 1 December 2021 5. Debtors Due within one year Other debtors 6. Creditors: Amounts Falling Due Within One Year Accruals and deferred income |
Fixtures & Fittings £ 274 - |
Fixtures & Fittings £ 274 - |
Computer Equipment £ 3,766 3,280 |
Total £ 4,040 3,280 |
|---|---|---|---|---|
| 274 | 7,046 | 7,320 | ||
| 237 4 |
2,439 691 |
2,676 695 |
||
| 241 | 3,130 | 3,371 | ||
| 33 | 3,916 | 3,949 | ||
| 37 | 1,327 | 1,364 | ||
| 2022 £ 13,357 13,357 2022 £ 840 840 |
2021 £ 8,607 |
|||
| 8,607 | ||||
| 2021 £ 150 |
||||
| 150 |
7. Company limited by guarantee
The company is limited by guarantee and has no share capital.
Every member of the company undertakes to contribute to the assets of the company, in the event of a winding up, such an amount as may be required not exceeding £1.
Page 7
Personal Success Detailed Income and Expenditure Account For The Year Ended 30 November 2022
| TURNOVER Workers Educational Income Community Foundation Torus Foundation National Heritage Income John Moores Foundation Women TT Other trading income COST OF SALES Trustees Remuneration Highfield Award Research and development costs Staff & Volunteer Expense GROSS SURPLUS Administrative Expenses Recruitment costs Staff training Staff expenses Travel expenses Rent Computer software, consumables and maintenance Insurance Freelance Companies Printing, postage and stationery Telecommunications and data costs Website costs Accountancy fees Consultancy fees Bank charges Depreciation of fixtures and fittings Depreciation of computer equipment Sundry expenses Other Operating Income LCVS OPERATING SURPLUS Other interest receivable and similar income Bank interest receivable SURPLUS FOR THE FINANCIAL YEAR |
2022 £ £ 7,280 6,964 2,466 9,680 5,000 480 - 31,870 3,243 1,061 1,126 6,664 (12,094) 19,776 150 - - - 8,513 1,673 476 - 771 737 4,712 840 2,000 113 4 691 1 (20,681) 11,770 11,770 10,865 1 1 10,866 |
2022 £ £ 7,280 6,964 2,466 9,680 5,000 480 - 31,870 3,243 1,061 1,126 6,664 (12,094) 19,776 150 - - - 8,513 1,673 476 - 771 737 4,712 840 2,000 113 4 691 1 (20,681) 11,770 11,770 10,865 1 1 10,866 |
2021 £ £ 16,665 - - - - - 2,850 19,515 1,000 1,356 900 2,000 (5,256) 14,259 - 6,493 100 1,005 - 280 381 4,880 388 - - 150 - 115 6 234 - (14,032) 1,500 1,500 1,727 2 2 1,729 |
2021 £ £ 16,665 - - - - - 2,850 19,515 1,000 1,356 900 2,000 (5,256) 14,259 - 6,493 100 1,005 - 280 381 4,880 388 - - 150 - 115 6 234 - (14,032) 1,500 1,500 1,727 2 2 1,729 |
|---|---|---|---|---|
| 31,870 (12,094) |
19,515 (5,256) |
|||
| 150 - - - 8,513 1,673 476 - 771 737 4,712 840 2,000 113 4 691 1 |
- 6,493 100 1,005 - 280 381 4,880 388 - - 150 - 115 6 234 - |
|||
| 19,776 (20,681) 11,770 |
14,259 (14,032) 1,500 |
|||
| 11,770 | 1,500 | |||
| 1 | 2 | |||
| 10,865 1 |
1,727 2 |
|||
| 10,866 | 1,729 |
Page 8
Registered number: 07832926
PERSONAL SUCCESS DIRECTORS' REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 NOVEMBER 2022
Accountants247 Limited
Personal Success Directors' Report and Unaudited Financial Statements For The Year Ended 30 November 2022
Contents
| Page | |
|---|---|
| Company Information | 1 |
| Directors' Report | 2 |
| Accountant's Report | 3 |
| Income and Expenditure Account | 4 |
| Balance Sheet | 5 |
| Notes to the Financial Statements | 6—7 |
| The following pages do not form part of the statutory accounts: | |
| Detailed Income and Expenditure Account | 8 |
Personal Success Company Information For The Year Ended 30 November 2022
| Directors | Mr Olakunle Fatai Adesina |
|---|---|
| Mr Magboul Ali | |
| Mr Aminu Audu | |
| Mr Munir Bakare | |
| Ms Fatimah Bello | |
| Mr Morufu Oladipupo | |
| Mr Tajudeen Oladipupo | |
| Company Number | 07832926 |
| Registered Office | 15 High Park Street |
| Toxteth | |
| Liverpool | |
| England | |
| L8 8DX | |
| Accountants | Accountants247 Limited |
| Unit 4 Whitworth Court | |
| Runcorn | |
| WA7 1WA |
Page 1
Personal Success Company No. 07832926 Directors' Report For The Year Ended 30 November 2022
The directors present their report and the financial statements for the year ended 30 November 2022.
Directors
The directors who held office during the year were as follows:
Mr Olakunle Fatai Adesina Mr Magboul Ali Appointed 16/01/2022 Mr Aminu Audu Appointed 16/01/2022 Mr Munir Bakare Appointed 16/01/2022 Ms Fatimah Bello Appointed 16/01/2022 Mr Morufu Oladipupo Mr Tajudeen Oladipupo Appointed 16/01/2022
Statement of Directors' Responsibilities
The directors are responsible for preparing the Directors' Report and the financial statements in accordance with applicable law and regulations.
Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the surplus or deficit of the company for that period. In preparing the financial statements the directors are required to:
-
select suitable accounting policies and then apply them consistently;
-
make judgments and accounting estimates that are reasonable and prudent;
-
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.
The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
The directors are responsible for the maintenance and integrity of the corporate and financial information included on the company's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.
Small Company Rules
This report has been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
On behalf of the board
Mr Morufu Oladipupo
Director
31/08/2023
Page 2
Personal Success Accountant's Report For The Year Ended 30 November 2022
In accordance with the engagement letter dated , and in order to assist you to fulfil your duties under the Companies Act 2006, we have compiled the financial statements of the company from the accounting records and information and explanations you have given to us.
This report is made to the directors in accordance with the terms of our engagement. Our work has been undertaken to prepare for approval by the directors the financial statements that we have been engaged to compile, to report to the directors that we have done so, and to state those matters that we have agreed to state to them in this report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the Company and the Company's directors for our work or for this report.
You have acknowledged on the balance sheet as at year ended 30 November 2022 your duty to ensure that the company has kept proper accounting records and to prepare financial statements that give a true and fair view under the Companies Act 2006. You consider that the company is exempt from the statutory requirement for an audit for the year.
We have not been instructed to carry out an audit of the financial statements. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the financial statements.
Signed
Accountants247 Ltd
31/08/2023
Accountants247 Limited Unit 4 Whitworth Court Runcorn WA7 1WA
Page 3
Personal Success Income and Expenditure Account For The Year Ended 30 November 2022
| Notes TURNOVER Cost of sales GROSS SURPLUS Administrative expenses Other operating income OPERATING SURPLUS Other interest receivable and similar income SURPLUS FOR THE FINANCIAL YEAR |
2022 £ 31,870 (12,094) 19,776 (20,681) 11,770 10,865 1 10,866 |
2021 £ 19,515 (5,256) |
|---|---|---|
| 14,259 (14,032) 1,500 |
||
| 1,727 2 |
||
| 1,729 |
The notes on pages 6 to 7 form part of these financial statements.
Page 4
Personal Success Balance Sheet As At 30 November 2022
| Notes FIXED ASSETS Tangible Assets 4 CURRENT ASSETS Debtors 5 Cash at bank and in hand Creditors: Amounts Falling Due Within One Year 6 NET CURRENT ASSETS (LIABILITIES) TOTAL ASSETS LESS CURRENT LIABILITIES NET ASSETS Income and Expenditure Account MEMBERS' FUNDS |
2022 £ £ 3,949 3,949 13,357 6,080 19,437 (840) 18,597 22,546 22,546 22,546 22,546 |
2022 £ £ 3,949 3,949 13,357 6,080 19,437 (840) 18,597 22,546 22,546 22,546 22,546 |
2021 £ £ 1,364 1,364 8,607 1,859 10,466 (150) 10,316 11,680 11,680 11,680 11,680 |
2021 £ £ 1,364 1,364 8,607 1,859 10,466 (150) 10,316 11,680 11,680 11,680 11,680 |
|---|---|---|---|---|
| 3,949 18,597 |
1,364 10,316 |
|||
| 19,437 (840) |
10,466 (150) |
|||
| 22,546 | 11,680 | |||
| 22,546 | 11,680 | |||
| 22,546 | 11,680 | |||
| 22,546 | 11,680 |
For the year ending 30 November 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.
On behalf of the board
Mr Morufu Oladipupo Director
31/08/2023
The notes on pages 6 to 7 form part of these financial statements.
Page 5
Personal Success Notes to the Financial Statements For The Year Ended 30 November 2022
1. General Information
Personal Success is a private company, limited by guarantee, incorporated in England & Wales, registered number 07832926. The registered office is 15 High Park Street, Toxteth, Liverpool, England, L8 8DX.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Fixtures & Fittings 10% Straight Line Computer Equipment 15% Straight Line
2.4. Government Grant
Government grants are recognised in the income and expenditure account in an appropriate manner that matches them with the expenditure towards which they are intended to contribute.
Grants for immediate financial support or to cover costs already incurred are recognised immediately in the income and expenditure account. Grants towards general activities of the entity over a specific period are recognised in the income and expenditure account over that period.
Grants towards fixed assets are recognised over the expected useful lives of the related assets and are treated as deferred income and released to the income and expenditure account over the useful life of the asset concerned.
All grants in the income and expenditure account are recognised when all conditions for receipt have been complied with.
3. Average Number of Employees
Average number of employees, including directors, during the year was as follows: NIL (2021: )
Page 6
Personal Success Notes to the Financial Statements (continued) For The Year Ended 30 November 2022
4. Tangible Assets
| Cost As at 1 December 2021 Additions As at 30 November 2022 Depreciation As at 1 December 2021 Provided during the period As at 30 November 2022 Net Book Value As at 30 November 2022 As at 1 December 2021 5. Debtors Due within one year Other debtors 6. Creditors: Amounts Falling Due Within One Year Accruals and deferred income |
Fixtures & Fittings £ 274 - |
Fixtures & Fittings £ 274 - |
Computer Equipment £ 3,766 3,280 |
Total £ 4,040 3,280 |
|---|---|---|---|---|
| 274 | 7,046 | 7,320 | ||
| 237 4 |
2,439 691 |
2,676 695 |
||
| 241 | 3,130 | 3,371 | ||
| 33 | 3,916 | 3,949 | ||
| 37 | 1,327 | 1,364 | ||
| 2022 £ 13,357 13,357 2022 £ 840 840 |
2021 £ 8,607 |
|||
| 8,607 | ||||
| 2021 £ 150 |
||||
| 150 |
7. Company limited by guarantee
The company is limited by guarantee and has no share capital.
Every member of the company undertakes to contribute to the assets of the company, in the event of a winding up, such an amount as may be required not exceeding £1.
Page 7
Personal Success Detailed Income and Expenditure Account For The Year Ended 30 November 2022
| TURNOVER Workers Educational Income Community Foundation Torus Foundation National Heritage Income John Moores Foundation Women TT Other trading income COST OF SALES Trustees Remuneration Highfield Award Research and development costs Staff & Volunteer Expense GROSS SURPLUS Administrative Expenses Recruitment costs Staff training Staff expenses Travel expenses Rent Computer software, consumables and maintenance Insurance Freelance Companies Printing, postage and stationery Telecommunications and data costs Website costs Accountancy fees Consultancy fees Bank charges Depreciation of fixtures and fittings Depreciation of computer equipment Sundry expenses Other Operating Income LCVS OPERATING SURPLUS Other interest receivable and similar income Bank interest receivable SURPLUS FOR THE FINANCIAL YEAR |
2022 £ £ 7,280 6,964 2,466 9,680 5,000 480 - 31,870 3,243 1,061 1,126 6,664 (12,094) 19,776 150 - - - 8,513 1,673 476 - 771 737 4,712 840 2,000 113 4 691 1 (20,681) 11,770 11,770 10,865 1 1 10,866 |
2022 £ £ 7,280 6,964 2,466 9,680 5,000 480 - 31,870 3,243 1,061 1,126 6,664 (12,094) 19,776 150 - - - 8,513 1,673 476 - 771 737 4,712 840 2,000 113 4 691 1 (20,681) 11,770 11,770 10,865 1 1 10,866 |
2021 £ £ 16,665 - - - - - 2,850 19,515 1,000 1,356 900 2,000 (5,256) 14,259 - 6,493 100 1,005 - 280 381 4,880 388 - - 150 - 115 6 234 - (14,032) 1,500 1,500 1,727 2 2 1,729 |
2021 £ £ 16,665 - - - - - 2,850 19,515 1,000 1,356 900 2,000 (5,256) 14,259 - 6,493 100 1,005 - 280 381 4,880 388 - - 150 - 115 6 234 - (14,032) 1,500 1,500 1,727 2 2 1,729 |
|---|---|---|---|---|
| 31,870 (12,094) |
19,515 (5,256) |
|||
| 150 - - - 8,513 1,673 476 - 771 737 4,712 840 2,000 113 4 691 1 |
- 6,493 100 1,005 - 280 381 4,880 388 - - 150 - 115 6 234 - |
|||
| 19,776 (20,681) 11,770 |
14,259 (14,032) 1,500 |
|||
| 11,770 | 1,500 | |||
| 1 | 2 | |||
| 10,865 1 |
1,727 2 |
|||
| 10,866 | 1,729 |
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