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Company No: 04512331 (England and Wales)

COMPUTEAM GROUP LIMITED

Unaudited Financial Statements
For the financial year ended 31 December 2023
Pages for filing with the registrar

COMPUTEAM GROUP LIMITED

Unaudited Financial Statements

For the financial year ended 31 December 2023

Contents

COMPUTEAM GROUP LIMITED

BALANCE SHEET

As at 31 December 2023
COMPUTEAM GROUP LIMITED

BALANCE SHEET (continued)

As at 31 December 2023
Note 2023 2022
£ £
Fixed assets
Tangible assets 3 259,676 278,782
259,676 278,782
Current assets
Debtors 4 203 1
203 1
Creditors: amounts falling due within one year 5 ( 168,975) ( 139,929)
Net current liabilities (168,772) (139,928)
Total assets less current liabilities 90,904 138,854
Creditors: amounts falling due after more than one year 6 ( 212,539) ( 223,868)
Provision for liabilities 0 215
Net liabilities ( 121,635) ( 84,799)
Capital and reserves
Called-up share capital 1 1
Capital redemption reserve 2 2
Profit and loss account ( 121,638 ) ( 84,802 )
Total shareholder's deficit ( 121,635) ( 84,799)

For the financial year ending 31 December 2023 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of Computeam Group Limited (registered number: 04512331) were approved and authorised for issue by the Board of Directors on 04 September 2024. They were signed on its behalf by:

O E Napier
Director
COMPUTEAM GROUP LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 2023
COMPUTEAM GROUP LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 2023
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Computeam Group Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom and is registered in England and Wales. The address of the Company's registered office is Suite 443 Broadstone Mill, Broadstone Road, Stockport, SK5 7DL, England, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the company and rounded to the nearest £.

Going concern

The directors have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The directors note that the business has net liabilities of £121,635.
The Company is supported through loans from a fellow subsidiary. The directors have received assurances that the loan facilities will continue to be available for at least 12 months from the date of signing these financial statements and the fellow subsidiary will continue to support the Company. After making enquiries, the directors believe that any foreseeable debts can be met for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
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 financial statements. 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.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Land and buildings 25 years straight line
Plant and machinery 5 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

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.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.

2. Employees

2023 2022
Number Number
Monthly average number of persons employed by the Company during the year. 0 0

The directors did not receive any remuneration (2022 : £Nil).

3. Tangible assets

Land and buildings Plant and machinery Total
£ £ £
Cost
At 01 January 2023 468,758 226,929 695,687
At 31 December 2023 468,758 226,929 695,687
Accumulated depreciation
At 01 January 2023 189,976 226,929 416,905
Charge for the financial year 19,106 0 19,106
At 31 December 2023 209,082 226,929 436,011
Net book value
At 31 December 2023 259,676 0 259,676
At 31 December 2022 278,782 0 278,782

4. Debtors

2023 2022
£ £
Amounts owed by Parent undertakings 1 1
Other debtors 202 0
203 1

5. Creditors: amounts falling due within one year

2023 2022
£ £
Bank loans 17,476 16,791
Amounts owed to fellow subsidiaries 151,499 120,361
Taxation and social security 0 2,777
168,975 139,929

Bank loans of £17,476 (2022 - £16,791) are secured by way of fixed and floating charges over the assets of the company.

6. Creditors: amounts falling due after more than one year

2023 2022
£ £
Bank loans 212,539 223,868

Bank loans of £212,539 (2022 - £223,868) are secured by way of fixed and floating charges over the assets of the company.

7. Ultimate controlling party

The ultimate parent company is Computeam Holdings Limited, a company registered in England and Wales, company number 08008470, which owns 100% of the called up share capital.

There is no overall controlling party of the group.