2 false false false false false false false false false false true false false false false false false No description of principal activity 2023-04-01 Sage Accounts Production Advanced 2023 - FRS102_2023 16,000 16,000 16,000 xbrli:pure xbrli:shares iso4217:GBP 01615564 2023-04-01 2024-03-31 01615564 2024-03-31 01615564 2023-03-31 01615564 2022-04-01 2023-03-31 01615564 2023-03-31 01615564 2022-03-31 01615564 bus:Director2 2023-04-01 2024-03-31 01615564 core:WithinOneYear 2024-03-31 01615564 core:WithinOneYear 2023-03-31 01615564 core:ShareCapital 2024-03-31 01615564 core:ShareCapital 2023-03-31 01615564 core:RetainedEarningsAccumulatedLosses 2024-03-31 01615564 core:RetainedEarningsAccumulatedLosses 2023-03-31 01615564 core:CostValuation core:Non-currentFinancialInstruments 2024-03-31 01615564 core:Non-currentFinancialInstruments 2024-03-31 01615564 core:Non-currentFinancialInstruments 2023-03-31 01615564 bus:SmallEntities 2023-04-01 2024-03-31 01615564 bus:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 01615564 bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 01615564 bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 01615564 bus:FullAccounts 2023-04-01 2024-03-31
COMPANY REGISTRATION NUMBER: 01615564
TEAM PICTURES LIMITED
Filleted Unaudited Financial Statements
31 March 2024
TEAM PICTURES LIMITED
Statement of Financial Position
31 March 2024
2024
2023
Note
£
£
£
Fixed assets
Investments
5
16,000
16,000
Current assets
Debtors
6
315,134
400,872
Cash at bank and in hand
51,569
91,639
---------
---------
366,703
492,511
Creditors: amounts falling due within one year
7
289,198
63,757
---------
---------
Net current assets
77,505
428,754
--------
---------
Total assets less current liabilities
93,505
444,754
--------
---------
Net assets
93,505
444,754
--------
---------
Capital and reserves
Called up share capital
1
1
Profit and loss account
93,504
444,753
--------
---------
Shareholder funds
93,505
444,754
--------
---------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
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.
Director's responsibilities:
- The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 18 October 2024 , and are signed on behalf of the board by:
Mr M R J Ayres
Director
Company registration number: 01615564
TEAM PICTURES LIMITED
Notes to the Financial Statements
Year ended 31 March 2024
1. General information
The company is a private company limited by shares, registered in UK. The address of the registered office is 5 Carburton House, London,, England,, W1W 5AN, UK.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements are prepared in sterling, which is the functional currency of the entity.
Consolidation
The entity has taken advantage of the option not to prepare consolidated financial statements contained in Section 398 of the Companies Act 2006 on the basis that the entity and its subsidiary undertakings comprise a small group.
Revenue recognition
The turnover shown in the profit and Loss Account represents amounts invoiced during the year, exclusive of Value added tax and amortisation of grant receipts.
Income tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date where transactions or events have occurred at that date that will result in an obligation to pay more, or a right to pay less or to receive more tax, with the following exception: Deferred tax assets are recognised only to the extent that the directors consider that it is more likely than not that there will be suitable taxable profits from which the future reversal of the underlying timing differences can be deducted. Deferred tax is measured on an undiscounted basis at the tax rates that are expected to apply in the periods in which timing differences reverse, based on tax rates and laws enacted or substantively enacted at the balance sheet date.
Investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 2 (2023: 1 ).
5. Investments
Shares in group undertakings
£
Cost
At 1 April 2023 and 31 March 2024
16,000
--------
Impairment
At 1 April 2023 and 31 March 2024
--------
Carrying amount
At 31 March 2024
16,000
--------
At 31 March 2023
16,000
--------
The company owns 80% of the issued share capital of Team Media Production Limited. The aggregate amount of share capital and reserves as at the year-end was £20,687 (2023 -(£39,664)) and the profit for the year was £60,351 (2023 -(£8,403)).
Under the provision of section 398 of the Companies Act 2006 the company is entitled to exemption from preparing consolidated accounts and has not done so, therefore the accounts show information about the company as an individual entity.
6. Debtors
2024
2023
£
£
Amounts owed by group undertakings and undertakings in which the company has a participating interest
75,000
26,339
Other debtors
240,134
374,533
---------
---------
315,134
400,872
---------
---------
7. Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
182,000
Social security and other taxes
1,085
757
Other creditors
106,113
63,000
---------
--------
289,198
63,757
---------
--------
8. Director's advances, credits and guarantees
Mr Ayers, a director of the company, is advanced an interest free loan by the company. The loan balance outstanding at the year-end amounted to £146,990 (2023 - £248,365)
9. Related party transactions
The company was under the control of the director throughout the current and previous year.