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Registered number: 7002392
SERVATEAM LTD
Unaudited Financial Statements
For The Year Ended 31 March 2024
AMCI ASSOCIATES LTD
Contents
Page
Balance Sheet 1—2
Statement of Changes in Equity 3
Notes to the Financial Statements 4—5
Page 1
Balance Sheet
Registered number: 7002392
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 962,246 964,202
962,246 964,202
CURRENT ASSETS
Debtors 5 13,666 11,016
Cash at bank and in hand 15,004 21,845
28,670 32,861
Creditors: Amounts Falling Due Within One Year 6 (36,122 ) (36,580 )
NET CURRENT ASSETS (LIABILITIES) (7,452 ) (3,719 )
TOTAL ASSETS LESS CURRENT LIABILITIES 954,794 960,483
Creditors: Amounts Falling Due After More Than One Year 7 (970,098 ) (970,098 )
NET LIABILITIES (15,304 ) (9,615 )
CAPITAL AND RESERVES
Called up share capital 8 5 5
Profit and Loss Account (15,309 ) (9,620 )
SHAREHOLDERS' FUNDS (15,304) (9,615)
Page 1
Page 2
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.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Qusharat Hussain
Director
03/10/2024
The notes on pages 4 to 5 form part of these financial statements.
Page 2
Page 3
Statement of Changes in Equity
Share Capital Profit and Loss Account Total
£ £ £
As at 1 April 2022 5 658 663
Loss for the year and total comprehensive income - (10,278 ) (10,278)
As at 31 March 2023 and 1 April 2023 5 (9,620 ) (9,615)
Loss for the year and total comprehensive income - (5,689 ) (5,689)
As at 31 March 2024 5 (15,309 ) (15,304)
Page 3
Page 4
Notes to the Financial Statements
1. General Information
SERVATEAM LTD is a private company, limited by shares, incorporated in England & Wales, registered number 7002392 . The registered office is 31 Wake Green Road, Moseley, Birmingham, West Midlands, B13 9HF.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Freehold 0%
Plant & Machinery 20%
Fixtures & Fittings 20%
Computer Equipment 20%
2.4. Pensions
The company operates a defined pension contribution scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.
2.5. Government Grant
Government grants are recognised in the profit and loss account in an appropriate manner that matches them with the expenditure towards which they are intended to contribute.
Grants for immediate financial support or to cover costs already incurred are recognised immediately in the profit and loss account. Grants towards general activities of the entity over a specific period are recognised in the profit and loss account over that period.
Grants towards fixed assets are recognised over the expected useful lives of the related assets and are treated as deferred income and released to the profit and loss account over the useful life of the asset concerned.
All grants in the profit and loss account are recognised when all conditions for receipt have been complied with.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 3 (2023: 2)
3 2
Page 4
Page 5
4. Tangible Assets
Land & Property
Freehold Plant & Machinery Fixtures & Fittings Computer Equipment Total
£ £ £ £ £
Cost
As at 1 April 2023 952,377 1,462 9,138 10,904 973,881
Additions - - 1,000 - 1,000
As at 31 March 2024 952,377 1,462 10,138 10,904 974,881
Depreciation
As at 1 April 2023 - 1,461 5,279 2,939 9,679
Provided during the period - - 965 1,991 2,956
As at 31 March 2024 - 1,461 6,244 4,930 12,635
Net Book Value
As at 31 March 2024 952,377 1 3,894 5,974 962,246
As at 1 April 2023 952,377 1 3,859 7,965 964,202
5. Debtors
2024 2023
£ £
Due within one year
Trade debtors 9,278 9,278
Other debtors 4,388 1,738
13,666 11,016
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Other taxes and social security 137 137
Other creditors 1,452 1,895
Directors' loan accounts 34,533 34,548
36,122 36,580
7. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 970,098 970,098
8. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 5 5
Page 5