Registered number
09494781
Year end:
30 September 2021
FIRST TEAM PARTNERS LIMITED
UNAUDITED FILLETED ACCOUNTS
FOR THE YEAR
ENDED 30 SEPTEMBER 2021
FIRST TEAM PARTNERS LIMITED
Registered number: 09494781
Balance Sheet
as at 30 September 2021
Notes 2021 2020
£ £
FIXED ASSETS
Tangible assets 3 12,785 10,750
CURRENT ASSETS
Debtors 4 48,139 39,065
Cash at bank and in hand 7,850 48,670
55,989 87,735
CREDITORS: amounts falling due within one year 5 (66,275) (79,160)
NET CURRENT (LIABILITIES)/ASSETS (10,286) 8,575
TOTAL ASSETS LESS CURRENT LIABILITIES 2,499 19,325
Provisions for liabilities (2,429) (2,043)
NET ASSETS £ 70 £ 17,282
CAPITAL AND RESERVES
Called up share capital 1 1
Profit and loss account 69 17,281
SHAREHOLDER'S FUNDS £ 70 £ 17,282
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account is not delivered to Companies House.
Mr S A W Haq
Director
Approved by the board on 5 September 2022
FIRST TEAM PARTNERS LIMITED
Notes to the Accounts
for the year ended 30 September 2021
1 ACCOUNTING POLICIES
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration receivable, net of discounts and value added taxes. Turnover from the sale of any goods is recognised when goods are delivered and legal title has passed.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Office furniture and equipment 25% p.a. on a reducing balance basis
Deferred taxation
Full provision is made for deferred taxation resulting from timing differences between the recognition of gains and losses in the accounts and their recognition for tax purposes. Deferred taxation is calculated on a non-discounted basis at the tax rates which are expected to apply in the periods when the timing differences are expected to reverse.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
2 EMPLOYEES 2021 2020
Number Number
Average number of persons employed by the company - -
(excluding directors with no specific service contract)
FIRST TEAM PARTNERS LIMITED
Notes to the Accounts
for the year ended 30 September 2021
3 TANGIBLE FIXED ASSETS
Office Furniture and Equipment
£
Cost
At 1 October 2020 23,599
Additions 6,297
At 30 September 2021 29,896
Depreciation
At 1 October 2020 12,849
Charge for the year 4,262
At 30 September 2021 17,111
Net book value
At 30 September 2021 £ 12,785
At 30 September 2020 £ 10,750
4 DEBTORS 2021 2020
£ £
Trade debtors 17,710 17,280
Loans to directors 24,365 15,721
Other debtors 6,064 6,064
£ 48,139 £ 39,065
Amounts due after more than one year included above £ 5,109 £ 5,109
5 CREDITORS: amounts falling due within one year 2021 2020
£ £
Trade creditors 13,960 13,780
Corporation tax 26,507 21,657
Other taxes and social security costs 24,008 38,339
Other creditors 1,800 5,384
£ 66,275 £ 79,160
FIRST TEAM PARTNERS LIMITED
Notes to the Accounts
for the year ended 30 September 2021
6 LOANS TO DIRECTORS
Description and conditions B/fwd Paid Repaid C/fwd
£ £ £ £
Mr S A W Haq
Temporary loan with interest charged at rates applicable to beneficial loans. 15,721 15,949 (7,305) 24,365
£ 15,721 £ 15,949 £ (7,305) £ 24,365
7 CONTROLLING PARTY
Mr S A W Haq controls the company by virtue of his holding 100% of the issued share capital.
8 OTHER INFORMATION
First Team Partners Limited is a private company limited by shares and incorporated in England. Its registered office is:
Titsey Estate Office
Pilgrims Lane
Oxted
Surrey
RH8 0SE
The accounts are for the individual company and are presented in Sterling which is the functional currency of the company.
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