2022-08-012023-07-312023-07-31false07332831The Handy Team 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The Handy Team Limited

Registered Number
07332831
(England and Wales)

Unaudited Financial Statements for the Year ended
31 July 2023

The Handy Team Limited
Company Information
for the year from 1 August 2022 to 31 July 2023

Director

Geoffrey Leonard Tripp

Registered Address

2 Upperton Gardens
Eastbourne
BN21 2AH

Registered Number

07332831 (England and Wales)
The Handy Team Limited
Statement of Financial Position
31 July 2023

Notes

2023

2022

£

£

£

£

Fixed assets
Tangible assets55,1764,466
5,1764,466
Current assets
Debtors65,2323,414
Cash at bank and on hand29,60822,782
34,84026,196
Creditors amounts falling due within one year7(25,882)(20,510)
Net current assets (liabilities)8,9585,686
Total assets less current liabilities14,13410,152
Provisions for liabilities(634)(848)
Net assets13,5009,304
Capital and reserves
Called up share capital22
Profit and loss account13,4989,302
Shareholders' funds13,5009,304
The financial statements were approved and authorised for issue by the Director on 13 February 2024, and are signed on its behalf by:
Geoffrey Leonard Tripp
Director
Registered Company No. 07332831
The Handy Team Limited
Notes to the Financial Statements
for the year ended 31 July 2023

1.Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
2.Compliance with applicable reporting framework
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
3.Accounting policies
Property, plant and equipment policy
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:
Revenue recognition policy
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.
Deferred tax policy
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.
Foreign currency translation and operations policy
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.
Employee benefits policy
Contributions to defined contribution plans are expensed in the period to which they relate.
4.Employee information

20232022
Average number of employees during the year30
5.Property, plant and equipment

Total

£
Cost or valuation
At 01 August 2214,420
Additions2,022
At 31 July 2316,348
Depreciation and impairment
At 01 August 229,954
Charge for year1,312
At 31 July 2311,172
Net book value
At 31 July 235,176
At 31 July 224,466
6.Debtors

2023

2022

££
Trade debtors / trade receivables1,3923,289
Other debtors503-
Prepayments and accrued income3,337125
Total5,2323,414
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.
7.Creditors within one year

2023

2022

££
Trade creditors / trade payables8,5258,548
Bank borrowings and overdrafts-2,000
Taxation and social security12,1398,124
Other creditors5,0611,681
Accrued liabilities and deferred income157157
Total25,88220,510
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.