Company registration number 08766685 (England and Wales)
ADAPTABLE TEAM SOLUTIONS LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023
PAGES FOR FILING WITH REGISTRAR
ADAPTABLE TEAM SOLUTIONS LIMITED
COMPANY INFORMATION
Director
Mr P S Powers
Company number
08766685
Registered office
The Courtyard
High Street
Ascot
Berkshire
SL5 7HP
Accountants
Kirk Rice LLP
Victoria House
178-180 Fleet Road
Fleet
Hampshire
GU51 4DA
ADAPTABLE TEAM SOLUTIONS LIMITED
CONTENTS
Page
Accountants' report
1
Balance sheet
2
Notes to the financial statements
3 - 5
ADAPTABLE TEAM SOLUTIONS LIMITED
ACCOUNTANTS' REPORT TO THE DIRECTOR ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF ADAPTABLE TEAM SOLUTIONS LIMITED FOR THE YEAR ENDED 30 NOVEMBER 2023
- 1 -
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Adaptable Team Solutions Limited for the year ended 30 November 2023 which comprise, the balance sheet and the related notes from the company’s accounting records and from information and explanations you have given us.
This report is made solely to the Board of Directors of Adaptable Team Solutions Limited, as a body. Our work has been undertaken solely to prepare for your approval the financial statements of Adaptable Team Solutions Limited and state those matters that we have agreed to state to the Board of Directors of Adaptable Team Solutions Limited, as a body. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Adaptable Team Solutions Limited and its Board of Directors as a body, for our work or for this report.
It is your duty to ensure that Adaptable Team Solutions Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Adaptable Team Solutions Limited. You consider that Adaptable Team Solutions Limited is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the financial statements of Adaptable Team Solutions Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
Kirk Rice LLP
21 August 2024
Victoria House
178-180 Fleet Road
Fleet
Hampshire
GU51 4DA
ADAPTABLE TEAM SOLUTIONS LIMITED
BALANCE SHEET
AS AT
30 NOVEMBER 2023
30 November 2023
- 2 -
2023
2022
Notes
£
£
£
£
Fixed assets
Tangible assets
3
64,939
61,691
Current assets
Debtors
4
20,004
43,101
Cash at bank and in hand
24,309
20,004
67,410
Creditors: amounts falling due within one year
5
(89,074)
(84,221)
Net current liabilities
(69,070)
(16,811)
Total assets less current liabilities
(4,131)
44,880
Creditors: amounts falling due after more than one year
6
(31,378)
(49,282)
Net liabilities
(35,509)
(4,402)
Capital and reserves
Called up share capital
1
1
Profit and loss reserves
(35,510)
(4,403)
Total equity
(35,509)
(4,402)
The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true
For the financial year ended 30 November 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved and signed by the director and authorised for issue on 21 August 2024
Mr P S Powers
Director
Company registration number 08766685 (England and Wales)
ADAPTABLE TEAM SOLUTIONS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023
- 3 -
1
Accounting policies
Company information
Adaptable Team Solutions Limited is a private company limited by shares incorporated in England and Wales. The registered office is The Courtyard, High Street, Ascot, Berkshire, SL5 7HP.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention.
1.2
Going concern
The director has confirmed that business has been difficult due to Covid, but since the year end business has picked up and is moving in a better position.
1.3
Turnover
Turnover relates to services provided for hospitality events and is measured at the fair value of the consideration received or receivable, excluding discounts, value added tax and other sales taxes. Turnover is recognised in line with the performance of these services.
1.4
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Plant and equipment
20% on cost
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
1.5
Impairment of fixed assets
At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.
1.6
Cash and cash equivalents
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
1.7
Financial instruments
Financial assets and financial liabilities are recognised when the company becomes a party to the contractual provisions of the financial instrument.
ADAPTABLE TEAM SOLUTIONS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2023
1
Accounting policies
(Continued)
- 4 -
Debtors
Debtors do not carry interest and are stated at their nominal value. Appropriate allowances for estimated irrecoverable amounts are recognised in the Profit and Loss account when there is objective evidence that the asset is impaired.
Creditors
Creditors are not interest bearing and are included at their nominal value.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2023
2022
Number
Number
Total
1
1
3
Tangible fixed assets
Plant and equipment
£
Cost
At 1 December 2022
94,503
Additions
20,325
At 30 November 2023
114,828
Depreciation and impairment
At 1 December 2022
32,812
Depreciation charged in the year
17,077
At 30 November 2023
49,889
Carrying amount
At 30 November 2023
64,939
At 30 November 2022
61,691
4
Debtors
2023
2022
Amounts falling due within one year:
£
£
Trade debtors
13,999
42,733
Other debtors
6,005
368
20,004
43,101
ADAPTABLE TEAM SOLUTIONS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2023
- 5 -
5
Creditors: amounts falling due within one year
2023
2022
£
£
Bank loans and overdrafts
37,537
22,133
Trade creditors
22,683
13,675
Taxation and social security
9,487
18,525
Other creditors
19,367
29,888
89,074
84,221
6
Creditors: amounts falling due after more than one year
2023
2022
£
£
Bank loans and overdrafts
31,378
49,282