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Company No: 06006456 (England and Wales)

TEAM CONQUEROR LIMITED

Unaudited Financial Statements
For the financial year ended 29 February 2024
Pages for filing with the registrar

TEAM CONQUEROR LIMITED

Unaudited Financial Statements

For the financial year ended 29 February 2024

Contents

TEAM CONQUEROR LIMITED

BALANCE SHEET

As at 29 February 2024
TEAM CONQUEROR LIMITED

BALANCE SHEET (continued)

As at 29 February 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 3 245,136 252,543
Investments 4 100 100
245,236 252,643
Current assets
Debtors 5 2,880 116,235
Cash at bank and in hand 202,850 175,520
205,730 291,755
Creditors: amounts falling due within one year 6 ( 340,897) ( 452,079)
Net current liabilities (135,167) (160,324)
Total assets less current liabilities 110,069 92,319
Provision for liabilities ( 7,294) ( 7,512)
Net assets 102,775 84,807
Capital and reserves
Called-up share capital 7 208 208
Share premium account 204 204
Profit and loss account 102,363 84,395
Total shareholder's funds 102,775 84,807

For the financial year ending 29 February 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The financial statements of Team Conqueror Limited (registered number: 06006456) were approved and authorised for issue by the Director on 11 October 2024. They were signed on its behalf by:

Mr R G Hodgson
Director
TEAM CONQUEROR LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 29 February 2024
TEAM CONQUEROR LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 29 February 2024
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

Team Conqueror Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is C/O Francis Clark Llp Melville Building East, Royal William Yard, Plymouth, PL1 3RP, United Kingdom. The principal place of business is Unit 9b, Forresters Business Park, Estover Close, Plymouth, Devon, PL6 7PL.

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 £.

Turnover

Revenue from rental property is recognised during the period of occupancy and billed monthly in advance.

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 tax rates and laws substantively enacted at the balance sheet date. Deferred tax assets and liabilities are not discounted.

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 basis over its expected useful life, as follows:

Land and buildings 50 years straight line
Plant and machinery 50 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.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets receivable within one year, such as trade debtors and bank balances, are measured at transaction price less any impairment.

Basic financial assets receivable within more than one year are measured at amortised cost less any impairment.

Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Basic financial liabilities
Basic financial liabilities that have no stated interest rate and are payable within one year, such as trade creditors, are measured at transaction price.

Other basic financial liabilities are measured at amortised cost.

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including the director 0 0

3. Tangible assets

Land and buildings Plant and machinery Total
£ £ £
Cost
At 01 March 2023 326,592 43,747 370,339
At 29 February 2024 326,592 43,747 370,339
Accumulated depreciation
At 01 March 2023 104,098 13,698 117,796
Charge for the financial year 6,532 875 7,407
At 29 February 2024 110,630 14,573 125,203
Net book value
At 29 February 2024 215,962 29,174 245,136
At 28 February 2023 222,494 30,049 252,543

4. Fixed asset investments

Investments in subsidiaries

2024
£
Cost
At 01 March 2023 100
At 29 February 2024 100
Carrying value at 29 February 2024 100
Carrying value at 28 February 2023 100

5. Debtors

2024 2023
£ £
Trade debtors 2,664 3,600
Other debtors 216 112,635
2,880 116,235

6. Creditors: amounts falling due within one year

2024 2023
£ £
Trade creditors 0 30
Amounts owed to Group undertakings 208,560 308,595
Amounts owed to Parent undertakings 122,602 134,966
Accruals 2,501 2,800
Taxation and social security 7,234 5,688
340,897 452,079

7. Called-up share capital

2024 2023
£ £
Allotted, called-up and fully-paid
204 Ordinary shares of £ 1.00 each 204 204
1 Ordinary D share of £ 1.00 1 1
1 Ordinary C share of £ 1.00 1 1
1 Ordinary B share of £ 1.00 1 1
1 Ordinary A share of £ 1.00 1 1
208 208

8. Ultimate controlling party

Parent Company:

The Company's immediate parent is Team Conqueror (Holdings) Limited, incorporated in England and Wales.
Team Conqueror (Holdings)Limited has registered office at C/O Francis Clark LLP Melville Building East, Royal William Yard, Plymouth, PL1 3RP, United Kingdom. The principal place of business is Unit 9b, Forresters Business Park, Estover Close, Plymouth, Devon, PL6 7PL, United Kingdom.