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REGISTERED NUMBER: 06544382 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 March 2023

for

TeamSwift Solutions Limited

TeamSwift Solutions Limited (Registered number: 06544382)

Contents of the Financial Statements
for the Year Ended 31 March 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


TeamSwift Solutions Limited

Company Information
for the Year Ended 31 March 2023







DIRECTOR: G Shah





SECRETARY:





REGISTERED OFFICE: 101 Elvaston Road
Nottingham
NG8 1JS





REGISTERED NUMBER: 06544382 (England and Wales)





ACCOUNTANTS: M Ahmed & Co
Chartered Accountants
83 Park Road
Chilwell
Nottingham
NG9 4DE

TeamSwift Solutions Limited (Registered number: 06544382)

Balance Sheet
31 March 2023

31.3.23 31.3.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 82,561 72,345
Tangible assets 5 103,069 8,149
185,630 80,494

CURRENT ASSETS
Debtors 6 145,247 296,289
Cash at bank 59,140 17,961
204,387 314,250
CREDITORS
Amounts falling due within one year 7 43,942 59,784
NET CURRENT ASSETS 160,445 254,466
TOTAL ASSETS LESS CURRENT
LIABILITIES

346,075

334,960

CREDITORS
Amounts falling due after more than one
year

8

(85,320

)

(17,581

)

PROVISIONS FOR LIABILITIES (1,476 ) (1,476 )
NET ASSETS 259,279 315,903

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 259,179 315,803
SHAREHOLDERS' FUNDS 259,279 315,903

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 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.

TeamSwift Solutions Limited (Registered number: 06544382)

Balance Sheet - continued
31 March 2023


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 22 November 2023 and were signed by:





G Shah - Director


TeamSwift Solutions Limited (Registered number: 06544382)

Notes to the Financial Statements
for the Year Ended 31 March 2023


1. STATUTORY INFORMATION

TeamSwift Solutions Limited 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.

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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Intangible assets
Intangible assets comprise various cryptocurrencies which are held for investment purposes. They are stated at cost less amortisation.

Tangible fixed assets
Tangible fixed assets are stated at cost, net of depreciation. Depreciation is provided on all tangible fixed assets, at rates calculated to write off the cost, less estimated residual value, of each asset over its expected useful life, as follows:

Plant and machinery 50% reducing balance
Fixtures and fittings 50% reducing balance
Computer Equipment 50% reducing balance
Leasehold property 10% reducing balance

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.

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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

TeamSwift Solutions Limited (Registered number: 06544382)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023


3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2022 - 2 ) .

4. INTANGIBLE FIXED ASSETS
Patents
and
licences Cryptocurrencies Totals
£    £    £   
COST
At 1 April 2022 - 72,690 72,690
Additions 5,216 5,000 10,216
At 31 March 2023 5,216 77,690 82,906
AMORTISATION
At 1 April 2022
and 31 March 2023 - 345 345
NET BOOK VALUE
At 31 March 2023 5,216 77,345 82,561
At 31 March 2022 - 72,345 72,345

5. TANGIBLE FIXED ASSETS
Fixtures
Long Plant and and
leasehold machinery fittings
£    £    £   
COST
At 1 April 2022 11,634 2,570 6,914
Additions - - 1,470
At 31 March 2023 11,634 2,570 8,384
DEPRECIATION
At 1 April 2022 6,182 2,454 6,798
Charge for year 545 58 793
At 31 March 2023 6,727 2,512 7,591
NET BOOK VALUE
At 31 March 2023 4,907 58 793
At 31 March 2022 5,452 116 116

TeamSwift Solutions Limited (Registered number: 06544382)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023


5. TANGIBLE FIXED ASSETS - continued

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 April 2022 - 11,756 32,874
Additions 106,000 1,357 108,827
At 31 March 2023 106,000 13,113 141,701
DEPRECIATION
At 1 April 2022 - 9,291 24,725
Charge for year 10,600 1,911 13,907
At 31 March 2023 10,600 11,202 38,632
NET BOOK VALUE
At 31 March 2023 95,400 1,911 103,069
At 31 March 2022 - 2,465 8,149

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Trade debtors 93,600 244,400
Amounts owed by associates 50,000 50,000
Other debtors - 242
Directors' current accounts 1,647 1,647
145,247 296,289

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Bank loans and overdrafts 5,600 5,600
Corporation Tax (7,571 ) 7,571
Social security and other taxes 681 4,651
VAT 15,061 40,962
Other creditors 29,171 -
Accruals 1,000 1,000
43,942 59,784

TeamSwift Solutions Limited (Registered number: 06544382)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023


8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.3.23 31.3.22
£    £   
Bank loans - 1-2 years 5,600 5,600
Bank loans - 2-5 years 6,950 11,981
Other creditors 72,770 -
85,320 17,581

9. ULTIMATE CONTROLLING PARTY

The controlling party is G Shah.