Registered number
08355194
TEAM EWS LIMITED
Filleted Accounts
31 December 2023
TEAM EWS LIMITED
Registered number: 08355194
Balance Sheet
as at 31 December 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 14,530 17,482
Current assets
Debtors 4 143,074 125,491
Cash at bank and in hand 345,702 236,267
488,776 361,758
Creditors: amounts falling due within one year 5 (502,862) (374,699)
Net current liabilities (14,086) (12,941)
Net assets 444 4,541
Capital and reserves
Called up share capital 200 200
Profit and loss account 244 4,341
Shareholder's funds 444 4,541
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 member has 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.
Mrs T Gordon
Director
Approved by the board on 7 February 2024
TEAM EWS LIMITED
Notes to the Accounts
for the year ended 31 December 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.
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:
Computer equipment over 4 years
Office equipment over 10 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.
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 2023 2022
Number Number
Average number of persons employed by the company 30 17
3 Tangible fixed assets
Office equipment Computer equipment Total
£ £ £
Cost
At 1 January 2023 37,463 5,855 43,318
Additions - 1,521 1,521
At 31 December 2023 37,463 7,376 44,839
Depreciation
At 1 January 2023 20,282 5,554 25,836
Charge for the year 3,791 682 4,473
At 31 December 2023 24,073 6,236 30,309
Net book value
At 31 December 2023 13,390 1,140 14,530
At 31 December 2022 17,181 301 17,482
4 Debtors 2023 2022
£ £
Trade debtors 36,900 30,000
Amounts owed by directors 88,763 78,080
Other debtors 17,411 17,411
143,074 125,491
5 Creditors: amounts falling due within one year 2023 2022
£ £
Taxation and social security costs 67,821 46,095
Other creditors 435,041 328,604
502,862 374,699
6 Controlling party
The directors are also the shareholders of the company.
7 Other information
TEAM EWS LIMITED is a private company limited by shares and incorporated in England. Its registered office is:
143 Valley Road
Kenley
Surrey
CR8 5BZ
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