TEAMOFFUTURE UK LTD

Company Registration Number:
13008423 (England and Wales)

Unaudited statutory accounts for the year ended 31 December 2023

Period of accounts

Start date: 01 January 2023

End date: 31 December 2023

TEAMOFFUTURE UK LTD

Contents of the Financial Statements

for the Period Ended 31 December 2023

Company Information - 3
Report of the Directors - 4
Profit and Loss Account - 5
Balance sheet - 6
Additional notes - 8
Balance sheet notes - 11

TEAMOFFUTURE UK LTD

Company Information

for the Period Ended 31 December 2023




Director: Desmond Patrick Taylor
Joseph Patrick Taylor
Registered office: 18
Rodborough Road
Birmingham
England
B26 2QD
Company Registration Number: 13008423 (England and Wales)

TEAMOFFUTURE UK LTD

Directors' Report Period Ended 31 December 2023

The directors present their report with the financial statements of the company for the period ended 31 December 2023

Principal Activities

Principal activities of the company is (93199) - Other sports activities.

Additional information

Incorporation The company was incorporated on 10 November 2020 and commenced trading on 1 January 2021. Small companies provision statement This report has been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

Directors

The directors shown below have held office during the whole of the period from 01 January 2023 to 31 December 2023
Desmond Patrick Taylor
Joseph Patrick Taylor

This report was approved by the board of directors on 28 October 2024
And Signed On Behalf Of The Board By:

Name: Desmond Patrick Taylor
Status: Director

TEAMOFFUTURE UK LTD

Profit and Loss Account

for the Period Ended 31 December 2023


Notes

2023
£

2022
£
Turnover 169,337 -
Cost of sales ( 42,539 ) -
Gross Profit or (Loss) 126,798 -
Administrative Expenses ( 9,203 ) ( 8,036 )
Operating Profit or (Loss) 117,595 ( 8,036 )
Profit or (Loss) Before Tax 117,595 ( 8,036 )
Tax on Profit ( 20,421 ) ( 0 )
Profit or (Loss) for Period 97,174 ( 8,036 )

The notes form part of these financial statements

TEAMOFFUTURE UK LTD

Balance sheet

As at 31 December 2023


Notes

2023
£

2022
£
Fixed assets
Tangible assets: 4 1,181 1,575
Total fixed assets: 1,181 1,575
Current assets
Debtors: 5 2,818 60
Cash at bank and in hand: 704 491
Total current assets: 3,522 551
Creditors: amounts falling due within one year: 6 ( 24,924 ) ( 26,427 )
Net current assets (liabilities): ( 21,402 ) ( 25,876 )
Total assets less current liabilities: ( 20,221 ) ( 24,301 )
Total net assets (liabilities): ( 20,221 ) ( 24,301 )

The notes form part of these financial statements

TEAMOFFUTURE UK LTD

Balance sheet continued

As at 31 December 2023


Notes

2023
£

2022
£
Capital and reserves
Called up share capital: 100 100
Profit and loss account: ( 20,321 ) ( 24,401 )
Shareholders funds: ( 20,221 ) ( 24,301 )

For the year ending 31 December 2023 the company was entitled to exemption 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.

This report was approved by the board of directors on 28 October 2024
And Signed On Behalf Of The Board By:

Name: Desmond Patrick Taylor
Status: Director

The notes form part of these financial statements

TEAMOFFUTURE UK LTD

Notes to the Financial Statements

for the Period Ended 31 December 2023

  • 1. Accounting policies

    Basis of measurement and preparation

    These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

TEAMOFFUTURE UK LTD

Notes to the Financial Statements

for the Period Ended 31 December 2023

  • 2. Employees


    2023

    2022
    Average number of employees during the period 1 1

    The average number of persons employed by the company (including directors) during the year, was 1 (2022 - 1)

TEAMOFFUTURE UK LTD

Notes to the Financial Statements

for the Period Ended 31 December 2023

  • 3. Off balance sheet disclosure

    No

TEAMOFFUTURE UK LTD

Notes to the Financial Statements

for the Period Ended 31 December 2023

4. Tangible assets

Office equipment Total
Cost £ £
At 01 January 2023 2,800 2,800
Additions - -
Disposals - -
Revaluations - -
Transfers - -
At 31 December 2023 2,800 2,800
Depreciation
At 01 January 2023 1,225 1,225
Charge for year 394 394
On disposals - -
Other adjustments - -
At 31 December 2023 1,619 1,619
Net book value
At 31 December 2023 1,181 1,181
At 31 December 2022 1,575 1,575

Tangible Fixed asset shows closing balance of £1,185 including Office Equipment with RBM method of Depreciation at the rate of 25%.

TEAMOFFUTURE UK LTD

Notes to the Financial Statements

for the Period Ended 31 December 2023

5. Debtors


2023
£

2022
£
Trade debtors 2,818 60
Total 2,818 60

There is Debit Balance of £ 2,818 with detailed aged debtors attached in the relevant sheet.

TEAMOFFUTURE UK LTD

Notes to the Financial Statements

for the Period Ended 31 December 2023

6.Creditors: amounts falling due within one year note


2023
£

2022
£
Taxation and social security 20,533 240
Accruals and deferred income 4,242 3,762
Other creditors 149 22,425
Total 24,924 26,427

Corporation Tax
There is £ 20,421 liability for the corporation tax as there is taxable profit of £94,270 as also computed.

Net Wages
There is £ 149 Liability of the Net Wages at the year end.

PAYE/NI
There is outstanding Liability of PAYE/NI of £ 113 at the year end.