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Company Registration No. 06206180 (England and Wales)
Team Factors Limited Unaudited accounts for the year ended 30 April 2024
Team Factors Limited Unaudited accounts Contents
Page
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Team Factors Limited Company Information for the year ended 30 April 2024
Directors
Mrs E M Williams Mr J Shulman Mr D McGarry Mr M A Chamings Mr J D Moodie
Company Number
06206180 (England and Wales)
Registered Office
UNIT 1-9 J.DICKINSON ENTERPRISE CENTRE LONDON ROAD HEMEL HEMPSTEAD HP3 9QU ENGLAND
Accountants
Multiply Accountancy Limited 71-75 Shelton Street London WC2H 9JQ
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Team Factors Limited Statement of financial position as at 30 April 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Tangible assets
76,913 
86,598 
Current assets
Debtors
21,134,382 
20,285,630 
Cash at bank and in hand
25,292 
38,323 
21,159,674 
20,323,953 
Creditors: amounts falling due within one year
(19,724,472)
(18,521,383)
Net current assets
1,435,202 
1,802,570 
Total assets less current liabilities
1,512,115 
1,889,168 
Provisions for liabilities
Deferred tax
(17,874)
(20,209)
Net assets
1,494,241 
1,868,959 
Capital and reserves
Called up share capital
449,667 
449,667 
Profit and loss account
1,044,574 
1,419,292 
Shareholders' funds
1,494,241 
1,868,959 
For the year ending 30 April 2024 the company was entitled to exemption from audit 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 and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 16 January 2025 and were signed on its behalf by
Mr M A Chamings Director Company Registration No. 06206180
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Team Factors Limited Notes to the Accounts for the year ended 30 April 2024
1
Statutory information
Team Factors Limited is a private company, limited by shares, registered in England and Wales, registration number 06206180. The registered office is UNIT 1-9 J.DICKINSON ENTERPRISE CENTRE, LONDON ROAD, HEMEL HEMPSTEAD, HP3 9QU, ENGLAND.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Land & buildings
10% straight line
Plant & machinery
25% straight line
Turnover
Turnover represents the fair value of the amounts receivable for debt factoring services provided by the company net of VAT and trade discounts.
Interest payable
Interest costs are expensed in the period in which they are incurred.
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Team Factors Limited Notes to the Accounts for the year ended 30 April 2024
4
Tangible fixed assets
Land & buildings 
Fixtures & fittings 
Total 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At 1 May 2023
48,348 
77,032 
125,380 
Additions
- 
9,921 
9,921 
At 30 April 2024
48,348 
86,953 
135,301 
Depreciation
At 1 May 2023
403 
38,379 
38,782 
Charge for the year
4,835 
14,771 
19,606 
At 30 April 2024
5,238 
53,150 
58,388 
Net book value
At 30 April 2024
43,110 
33,803 
76,913 
At 30 April 2023
47,945 
38,653 
86,598 
5
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
Trade debtors
21,024,109 
20,214,167 
Accrued income and prepayments
82,277 
66,463 
Other debtors
27,996 
5,000 
21,134,382 
20,285,630 
6
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
Bank loans and overdrafts
11,714,398 
11,984,059 
Trade creditors
7,048,239 
5,746,498 
Taxes and social security
541,604 
462,399 
Other creditors
193,478 
114,755 
Accruals
185,609 
213,672 
Deferred income
41,144 
- 
19,724,472 
18,521,383 
The Company has a credit facility with Aldermore Bank PLC, who holds a fixed and floating charge over Company assets.
7
Controlling party
The ultimate controlling party by virtue of its shareholdings, is Team Factors Holdings Limited, a company incorporated in England and Wales. Registered office: 71-75 Shelton Street, Covent Garden, London, United Kingdom, WC2H 9JQ
8
Average number of employees
During the year the average number of employees was 21 (2023: 16).
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