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Registered number: 7009551
A Team Construction Ltd
Unaudited Financial Statements
For The Year Ended 4 April 2024
Tej Parkash Accountancy Services
169 Kingston Road
Ilford
Essex
IG1 1PE
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—4
Page 1
Balance Sheet
Registered number: 7009551
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 23,238 28,601
23,238 28,601
CURRENT ASSETS
Debtors 5 92,802 95,944
Cash at bank and in hand 23,029 1,828
115,831 97,772
Creditors: Amounts Falling Due Within One Year 6 (47,805 ) (26,789 )
NET CURRENT ASSETS (LIABILITIES) 68,026 70,983
TOTAL ASSETS LESS CURRENT LIABILITIES 91,264 99,584
Creditors: Amounts Falling Due After More Than One Year 7 (17,270 ) (25,287 )
NET ASSETS 73,994 74,297
CAPITAL AND RESERVES
Called up share capital 8 2 2
Profit and Loss Account 73,992 74,295
SHAREHOLDERS' FUNDS 73,994 74,297
Page 1
Page 2
For the year ending 4 April 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his 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 Paramjit Singh
Director
02/01/2025
The notes on pages 3 to 4 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
A Team Construction Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 7009551 . The registered office is 84 Measway, Ilford, Essex, IG3 9DJ.
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:
Plant & Machinery 18%
Motor Vehicles 18%
Computer Equipment 18%
3. Average Number of Employees
Average number of employees, including directors, during the year was: 1 (2023: NIL)
1 -
4. Tangible Assets
Plant & Machinery Motor Vehicles Computer Equipment Total
£ £ £ £
Cost
As at 5 April 2023 458 61,906 3,238 65,602
As at 4 April 2024 458 61,906 3,238 65,602
Depreciation
As at 5 April 2023 364 32,635 4,002 37,001
Provided during the period 94 5,269 - 5,363
As at 4 April 2024 458 37,904 4,002 42,364
Net Book Value
As at 4 April 2024 - 24,002 (764 ) 23,238
As at 5 April 2023 94 29,271 (764 ) 28,601
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Page 4
5. Debtors
2024 2023
£ £
Due within one year
Trade debtors 68,589 68,588
Other debtors 16,617 16,617
Other taxes and social security 7,596 5,852
Director's loan account - 4,887
92,802 95,944
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 34,849 18,784
Corporation tax 896 898
VAT 11,247 6,407
Other creditors 700 700
Director's loan account 113 -
47,805 26,789
7. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 17,270 25,287
8. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 2 2
9. Directors Advances, Credits and Guarantees
Included within Debtors are the following loans to directors:
As at 5 April 2023 Amounts advanced Amounts repaid Amounts written off As at 4 April 2024
£ £ £ £ £
Mr Paramjit Singh 4,886 - 500 - 113
The above loan is unsecured, interest free and repayable on demand.
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