Registered number
06683514
Team Care Support Limited
Filleted Accounts
31 December 2022
Team Care Support Limited
Registered number: 06683514
Balance Sheet
as at 31 December 2022
Notes 2022 2021
£ £
Fixed assets
Tangible assets 4 325,797 191,322
Current assets
Debtors 5 437,062 326,324
Cash at bank and in hand 20,359 13,206
457,421 339,530
Creditors: amounts falling due within one year 6 (117,859) (55,340)
Net current assets 339,562 284,190
Total assets less current liabilities 665,359 475,512
Creditors: amounts falling due after more than one year 7 (75,166) (36,898)
Provisions for liabilities (15,057) (9,633)
Net assets 575,136 428,981
Capital and reserves
Called up share capital 100 100
Profit and loss account 575,036 428,881
Shareholders' funds 575,136 428,981
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their 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 and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Kher V Rajkoomar
Director
Approved by the board on 30 September 2023
Team Care Support Limited
Notes to the Accounts
for the year ended 31 December 2022
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 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 from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Freehold buildings over 50 years
Leasehold land and buildings over the lease term
Plant and machinery over 5 years
Fixtures, fittings, tools and equipment over 5 years
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2022 2021
Number Number
Average number of persons employed by the company 17 18
3 Intangible fixed assets £
Goodwill:
Cost
At 1 January 2022 100,000
At 31 December 2022 100,000
Amortisation
At 1 January 2022 100,000
At 31 December 2022 100,000
Net book value
At 31 December 2022 -
Goodwill is being written off in equal annual instalments over its estimated economic life of 10 years.
4 Tangible fixed assets
Land and buildings Plant and machinery etc Motor vehicles Total
£ £ £ £
Cost
At 1 January 2022 190,773 187,123 - 377,896
Additions 26,393 42,888 96,334 165,615
At 31 December 2022 217,166 230,011 96,334 543,511
Depreciation
At 1 January 2022 50,153 136,421 - 186,574
Charge for the year 7,031 14,343 9,766 31,140
At 31 December 2022 57,184 150,764 9,766 217,714
Net book value
At 31 December 2022 159,982 79,247 86,568 325,797
At 31 December 2021 140,620 50,702 - 191,322
5 Debtors 2022 2021
£ £
Trade debtors 94,234 52,957
Other debtors 342,828 273,367
437,062 326,324
6 Creditors: amounts falling due within one year 2022 2021
£ £
Bank loans and overdrafts 11,010 11,232
Obligations under finance lease and hire purchase contracts 22,365 -
Corporation tax 57,836 29,753
Other taxes and social security costs 17,857 6,512
Other creditors 8,791 7,843
117,859 55,340
7 Creditors: amounts falling due after one year 2022 2021
£ £
Bank loans 26,026 36,898
Obligations under finance lease and hire purchase contracts 49,140 -
75,166 36,898
8 Other financial commitments 2022 2021
£ £
Total future minimum payments under non-cancellable operating leases 74,400 74,400
9 Loans to directors
Description and conditions B/fwd Paid Repaid C/fwd
Loan Interst payable £ £ £ £
Loan - 70,010 - 70,010
- 70,010 - 70,010
10 Controlling party
MR K and Mrs P Rajkoomar own 100% of the issued share capital
11 Other information
Team Care Support Limited is a private company limited by shares and incorporated in England. Its registered office is:
86 Radstock Way
Mersham
Surrey
RH1 3NH
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