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Classteam Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 March 2024

 

Classteam Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 6

 

Classteam Limited

Company Information

Directors

Mr J M Ludgate

Mr J P Gilliard

Mr D L Fussell

Company secretary

Mr J P Gilliard

Registered office

101 Waterloo Gardens
Milner Square
London
N1 1TY

Accountants

Grays Accountants Ltd

 

Classteam Limited

(Registration number: 03071497)
Balance Sheet as at 31 March 2024

Note

2024
£

2023
£

Tangible assets

4

203,873

203,873

Other financial assets

3,982

3,982

 

207,855

207,855

Current assets

 

Debtors

5

5,826

3,951

Cash at bank and in hand

 

49,274

92,278

 

55,100

96,229

Creditors: Amounts falling due within one year

6

(19,356)

(31,006)

Net current assets

 

35,744

65,223

Net assets

 

243,599

273,078

Capital and reserves

 

Called up share capital

3

3

Retained earnings

243,596

273,075

Shareholders' funds

 

243,599

273,078

For the financial 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.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have 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.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 12 November 2024 and signed on its behalf by:
 

 

Classteam Limited

(Registration number: 03071497)
Balance Sheet as at 31 March 2024

.........................................
Mr J M Ludgate
Director

.........................................
Mr J P Gilliard
Company secretary and director

.........................................
Mr D L Fussell
Director

 

Classteam Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

1

General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
101 Waterloo Gardens
Milner Square
London
N1 1TY

These financial statements were authorised for issue by the Board on 12 November 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

 

Classteam Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 3 (2023 - 3).

4

Tangible assets

Land and buildings
£

Plant and machinery
£

Office equipment
£

Total
£

Cost or valuation

At 1 April 2023

203,872

5,340

798

210,010

At 31 March 2024

203,872

5,340

798

210,010

Depreciation

At 1 April 2023

-

5,339

798

6,137

At 31 March 2024

-

5,339

798

6,137

Carrying amount

At 31 March 2024

203,872

1

-

203,873

At 31 March 2023

203,872

1

-

203,873

Included within the net book value of land and buildings above is £203,872 (2023 - £203,872) in respect of freehold land and buildings.
 

 

Classteam Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

5

Debtors

Current

2024
£

2023
£

Other debtors

5,826

3,951

 

5,826

3,951

6

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Taxation and social security

11,310

24,925

Other creditors

8,046

6,081

19,356

31,006