Registered number
10636734
The Technology Team Limited
Filleted Accounts
31 March 2023
The Technology Team Limited
Registered number: 10636734
Balance Sheet
as at 31 March 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 13,737 8,813
Current assets
Debtors 4 4,395 2,515
Cash at bank and in hand 26,200 33,149
30,595 35,664
Creditors: amounts falling due within one year 5 (7,858) (5,600)
Net current assets 22,737 30,064
Net assets 36,474 38,877
Capital and reserves
Called up share capital 1 1
Profit and loss account 36,473 38,876
Shareholders' funds 36,474 38,877
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.
T Middleton
Director
Approved by the board on 31 October 2023
The Technology Team Limited
Notes to the Accounts
for the year ended 31 March 2023
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.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), 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.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 1 1
3 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 April 2022 16,328
Additions 12,008
At 31 March 2023 28,336
Depreciation
At 1 April 2022 7,515
Charge for the year 7,084
At 31 March 2023 14,599
Net book value
At 31 March 2023 13,737
At 31 March 2022 8,813
4 Debtors 2023 2022
£ £
Trade debtors 4,395 2,515
5 Creditors: amounts falling due within one year 2023 2022
£ £
Taxation and social security costs 4,202 4,188
Other creditors 3,656 1,412
7,858 5,600
6 Other information
The Technology Team Limited is a private company limited by shares and incorporated in England. Its registered office is:
50 Courtbrook
Fairford
Glos
GL7 4BE
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