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
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
Team Factors Limited
Statement of financial position
as at 30 April 2024
Tangible assets
76,913
86,598
Debtors
21,134,382
20,285,630
Cash at bank and in hand
25,292
38,323
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
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
Team Factors Limited
Notes to the Accounts
for the year ended 30 April 2024
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.
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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.
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.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
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 represents the fair value of the amounts receivable for debt factoring services provided by the company net of VAT and trade discounts.
Interest costs are expensed in the period in which they are incurred.
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
At 30 April 2024
48,348
86,953
135,301
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
At 30 April 2024
43,110
33,803
76,913
At 30 April 2023
47,945
38,653
86,598
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
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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
The Company has a credit facility with Aldermore Bank PLC, who holds a fixed and floating charge over Company assets.
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
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Average number of employees
During the year the average number of employees was 21 (2023: 16).