Registered number
11955808
Team Collective Ltd
Filleted Accounts
30 April 2024
Team Collective Ltd
Registered number: 11955808
Balance Sheet
as at 30 April 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 1,887 2,113
Current assets
Debtors 4 6,835 12,318
Cash at bank and in hand 106,343 110,172
113,178 122,490
Creditors: amounts falling due within one year 5 (30,443) (37,620)
Net current assets 82,735 84,870
Total assets less current liabilities 84,622 86,983
Provisions for liabilities (426) (401)
Net assets 84,196 86,582
Capital and reserves
Called up share capital 1 1
Profit and loss account 84,195 86,581
Shareholder's funds 84,196 86,582
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr Alexander Baker
Director
Approved by the board on 3 January 2025
Team Collective Ltd
Notes to the Accounts
for the year ended 30 April 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
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 from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Computer equipment over 3 years
Fixtures, fittings, tools and equipment over 5 years
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 0 0
3 Tangible fixed assets
Fixture and fittings Computer equipment Total
£ £ £
Cost
At 1 May 2023 177 4,036 4,213
Additions 680 915 1,595
At 30 April 2024 857 4,951 5,808
Depreciation
At 1 May 2023 71 2,029 2,100
Charge for the year 171 1,650 1,821
At 30 April 2024 242 3,679 3,921
Net book value
At 30 April 2024 615 1,272 1,887
At 30 April 2023 106 2,007 2,113
4 Debtors 2024 2023
£ £
Trade debtors 6,708 12,277
Director's loan account 127 -
Other debtors - 41
6,835 12,318
5 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors 491 1,492
Director's loan account - 2,751
Taxation and social security costs 29,412 32,837
Other creditors 540 540
30,443 37,620
6 Other information
Team Collective Ltd is a private company limited by shares and incorporated in England. Its registered office is:
20-22 Wenlock Road
London
England
N17GU
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