Company Registration No. 04393617 (England and Wales)
Container Team Ltd
Unaudited accounts
for the year ended 31 March 2024
Container Team Ltd
Company Information
for the year ended 31 March 2024
Directors
Hazel Edwards
Timothy Edwards
Ricky Williams
Company Number
04393617 (England and Wales)
Registered Office
9 UNIT 9 WESTLAND DISTRIBUTION PARK
WINTERSTOKE ROAD
WESTON-SUPER-MARE
BS24 9AD
ENGLAND
Accountants
Evans Entwistle
10 Fountain Court, Elm House
New Leaze
Bradley Stoke
Bristol
BS32 4LA
Chartered Management Accountants' report to the board of directors on the preparation of the unaudited statutory accounts of
Container Team Ltd
for the year ended 31 March 2024
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Container Team Ltd for the year ended 31 March 2024 which comprise of the Profit and Loss Account, the Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.
As a CIMA Registered Member in Practice and Practising Certificate holder, I am subject to its ethical and other professional requirements which are detailed at https://www.cimaglobal.com/Members/Your-Membership-Information/Members-handbook/Licensing-and-monitoring/Members-in-practice/
Our work has been undertaken in accordance with the requirements of the Chartered Institute of Management Accountants as detailed at http://www.cimaglobal.com.
Evans Entwistle
Member in Practice
10 Fountain Court, Elm House
New Leaze
Bradley Stoke
Bristol
BS32 4LA
11 June 2024
Container Team Ltd
Statement of financial position
as at 31 March 2024
Intangible assets
19,932
23,274
Tangible assets
2,863,617
2,585,493
Cash at bank and in hand
200,052
360,431
Creditors: amounts falling due within one year
(638,413)
(797,946)
Net current (liabilities)/assets
(112,906)
100,705
Total assets less current liabilities
2,770,643
2,709,472
Creditors: amounts falling due after more than one year
(658,557)
(724,638)
Provisions for liabilities
Deferred tax
(453,464)
(411,416)
Net assets
1,658,622
1,573,418
Container Team Ltd
Statement of financial position
as at 31 March 2024 (continued)
Called up share capital
100
100
Revaluation reserve
84,161
-
Profit and loss account
1,574,361
1,573,318
Shareholders' funds
1,658,622
1,573,418
For the year 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 directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
The members have agreed to the preparation of abridged accounts for the year in accordance with Section 444(2A).
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 of Directors and authorised for issue on 11 June 2024 and were signed on its behalf by
Timothy Edwards
Director
Company Registration No. 04393617
Container Team Ltd
Notes to the Accounts
for the year ended 31 March 2024
Container Team Ltd is a private company, limited by shares, registered in England and Wales, registration number 04393617. The registered office is 9 UNIT 9 WESTLAND DISTRIBUTION PARK, WINTERSTOKE ROAD, WESTON-SUPER-MARE, BS24 9AD, ENGLAND.
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 year, 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 accounts are presented in £ sterling.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. 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.
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation.
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
5 years straight-line
Motor vehicles
5 years straight-line
Fixtures & fittings
5 years straight-line
Other tangible fixed assets
30 years straight-line
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
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.
Container Team Ltd
Notes to the Accounts
for the year ended 31 March 2024
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term.
Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
4
Intangible fixed assets
Total
5
Tangible fixed assets
Total
At 31 March 2024
3,385,850
Charge for the year
130,318
At 31 March 2024
2,863,617
At 31 March 2023
2,585,493
Container Team Ltd
Notes to the Accounts
for the year ended 31 March 2024
6
Deferred taxation
2024
2023
Accelerated capital allowances
453,464
411,416
Provision at start of year
411,416
-
Charged to the profit and loss account
42,048
411,416
Provision at end of year
453,464
411,416
Allotted, called up and fully paid:
100 Ordinary shares of £1 each
100
100
8
Average number of employees
During the year the average number of employees was 20 (2023: 20).