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Company Registration No. 09774452 (England and Wales)
Team IT Training Limited Unaudited accounts for the period from 1 October 2022 to 31 March 2024
Team IT Training Limited Unaudited accounts Contents
Page
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Team IT Training Limited Company Information for the period from 1 October 2022 to 31 March 2024
Director
Mr H V Norris
Company Number
09774452 (England and Wales)
Registered Office
10 Bates Walk Addlestone Surrey KT15 2DQ United Kingdom
Accountants
Yeomans Associates Limited 10 Bates Walk Addlestone Surrey KT15 2DQ
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Team IT Training Limited Statement of financial position as at 31 March 2024
2024 
2022 
Notes
£ 
£ 
Fixed assets
Tangible assets
93 
524 
Current assets
Debtors
5,822 
19,957 
Cash at bank and in hand
3,464 
4,452 
9,286 
24,409 
Creditors: amounts falling due within one year
(5,589)
(12,477)
Net current assets
3,697 
11,932 
Total assets less current liabilities
3,790 
12,456 
Creditors: amounts falling due after more than one year
(6,417)
(9,917)
Provisions for liabilities
Deferred tax
- 
(100)
Net (liabilities)/assets
(2,627)
2,439 
Capital and reserves
Called up share capital
100 
100 
Profit and loss account
(2,727)
2,339 
Shareholders' funds
(2,627)
2,439 
For the period ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 8 April 2024 and were signed on its behalf by
Mr H V Norris Director Company Registration No. 09774452
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Team IT Training Limited Notes to the Accounts for the period from 1 October 2022 to 31 March 2024
1
Statutory information
Team IT Training Limited is a private company, limited by shares, registered in England and Wales, registration number 09774452. The registered office is 10 Bates Walk, Addlestone, Surrey, KT15 2DQ, United Kingdom.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous period, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Going concern
The director has considered the financial position of the company and has indicated that he will continue to support the company financially while it remains in a net liabilities position.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
25% on cost
Deferred taxation
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.
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Team IT Training Limited Notes to the Accounts for the period from 1 October 2022 to 31 March 2024
4
Tangible fixed assets
Plant & machinery 
£ 
Cost or valuation
At cost 
At 1 October 2022
2,731 
At 31 March 2024
2,731 
Depreciation
At 1 October 2022
2,207 
Charge for the period
431 
At 31 March 2024
2,638 
Net book value
At 31 March 2024
93 
At 30 September 2022
524 
5
Debtors
2024 
2022 
£ 
£ 
Amounts falling due within one year
VAT
310 
890 
Trade debtors
5,412 
9,860 
Accrued income and prepayments
97 
- 
Other debtors
3 
5,083 
5,822 
15,833 
Amounts falling due after more than one year
Other debtors
- 
4,124 
6
Creditors: amounts falling due within one year
2024 
2022 
£ 
£ 
Trade creditors
- 
1,497 
Taxes and social security
113 
831 
Other creditors
3,500 
3,500 
Loans from directors
626 
- 
Accruals
1,350 
6,649 
5,589 
12,477 
7
Creditors: amounts falling due after more than one year
2024 
2022 
£ 
£ 
Other creditors
6,417 
9,917 
On 03/07/2020 the company took out a 6-year loan from Starling Bank for £17,500 under the government's Bounce Back Loan scheme to offset the cashflow implications of the Covid-19 pandemic. Under the terms of the loan the government met all interest charges for the first year and the repayment of the loan started on the 1st anniversary of the loan on 03/08/2021. Following a difficult trading period the company negotiated a 6 month payment holiday starting in October 2023.
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Team IT Training Limited Notes to the Accounts for the period from 1 October 2022 to 31 March 2024
8
Average number of employees
During the period the average number of employees was 1 (2022: 1).
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