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REGISTERED NUMBER: 08351797 (England and Wales)















Financial Statements for the Year Ended 30 December 2022

for

Team Roundhouse Ltd

Team Roundhouse Ltd (Registered number: 08351797)






Contents of the Financial Statements
for the Year Ended 30 December 2022




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Team Roundhouse Ltd

Company Information
for the Year Ended 30 December 2022







DIRECTOR: S C Bullock





REGISTERED OFFICE: Crown Garages
Norley Road
Kingsley
WA6 6TR





REGISTERED NUMBER: 08351797 (England and Wales)





ACCOUNTANTS: Cobham Murphy
116 Duke Street
Liverpool
Merseyside
L1 5JW

Team Roundhouse Ltd (Registered number: 08351797)

Balance Sheet
30 December 2022

30.12.22 30.12.21
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 19,784 18,799

CURRENT ASSETS
Debtors 5 144,941 292,992
Cash at bank 416,807 7,796
561,748 300,788
CREDITORS
Amounts falling due within one year 6 293,145 265,468
NET CURRENT ASSETS 268,603 35,320
TOTAL ASSETS LESS CURRENT
LIABILITIES

288,387

54,119

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings 288,386 54,118
SHAREHOLDERS' FUNDS 288,387 54,119

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 December 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 December 2022 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 28 September 2023 and were signed by:





S C Bullock - Director


Team Roundhouse Ltd (Registered number: 08351797)

Notes to the Financial Statements
for the Year Ended 30 December 2022

1. STATUTORY INFORMATION

Team Roundhouse Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The accounts have been prepared on a going concern basis despite jobs being on hold at various times since the beginning of the pandemic. The director is confident that the company will return back to profitability after the pandemic is over.

Significant judgements and estimates
There are no judgements (apart from those involving estimates) that have had a significant effect on amounts recognised in the financial statements.

Turnover
Turnover is derived from ordinary activities and is measured at the fair value of the consideration received or receivable from construction services, excluding discounts, rebates, value added tax and other sales taxes.

The company recognises revenue when the amount of revenue can be measured reliably and when it is probable that future economic benefits will flow to the entity.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Land and buildings - in accordance with the property
Plant and machinery etc - 15% on reducing balance

Financial instruments
Directors loans and intercompany loans (being repayable on demand), trade debtors and trade creditors are measured at the undiscounted amount of the cash or other consideration expected to be paid or received.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

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.


Team Roundhouse Ltd (Registered number: 08351797)

Notes to the Financial Statements - continued
for the Year Ended 30 December 2022

2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2021 - NIL ) .

4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 31 December 2021 10,000 15,100 25,100
Additions - 2,822 2,822
At 30 December 2022 10,000 17,922 27,922
DEPRECIATION
At 31 December 2021 - 6,301 6,301
Charge for year - 1,837 1,837
At 30 December 2022 - 8,138 8,138
NET BOOK VALUE
At 30 December 2022 10,000 9,784 19,784
At 30 December 2021 10,000 8,799 18,799

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.12.22 30.12.21
£    £   
Trade debtors 34,492 25,343
Amounts owed by associates 9,000 -
Amounts recoverable on contract 40,000 250,000
Other debtors 61,449 17,649
144,941 292,992

Team Roundhouse Ltd (Registered number: 08351797)

Notes to the Financial Statements - continued
for the Year Ended 30 December 2022

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.12.22 30.12.21
£    £   
Trade creditors 57,805 96,929
Amounts owed to associates 136,500 131,583
Taxation and social security 97,140 35,256
Other creditors 1,700 1,700
293,145 265,468

7. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

Included in debtors is £60,849 (2021 £17,049) due from the director which is interest free and repayable on demand.

8. RELATED PARTY DISCLOSURES

Included in other creditors is £136,500 (2021 £131,583) due to companies which are under common control with Team Roundhouse Ltd. The loans are interest free and repayable on demand.