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
Team IT Training Limited
Company Information
for the period from 1 October 2022 to 31 March 2024
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
Team IT Training Limited
Statement of financial position
as at 31 March 2024
Cash at bank and in hand
3,464
4,452
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
Net (liabilities)/assets
(2,627)
2,439
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
Team IT Training Limited
Notes to the Accounts
for the period from 1 October 2022 to 31 March 2024
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.
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.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
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 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 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.
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
Amounts falling due within one year
Accrued income and prepayments
97
-
Amounts falling due after more than one year
6
Creditors: amounts falling due within one year
2024
2022
Taxes and social security
113
831
Other creditors
3,500
3,500
Loans from directors
626
-
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.
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).