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T.E.A.M Scaffolding Limited
Financial Statements
For The Year Ended 30 April 2024
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 11581929
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 23,207 20,274
23,207 20,274
CURRENT ASSETS
Stocks 5 26,222 24,842
Debtors 6 16,630 8,064
Cash at bank and in hand - 2,125
42,852 35,031
Creditors: Amounts Falling Due Within One Year 7 (70,270 ) (61,841 )
NET CURRENT ASSETS (LIABILITIES) (27,418 ) (26,810 )
TOTAL ASSETS LESS CURRENT LIABILITIES (4,211 ) (6,536 )
Creditors: Amounts Falling Due After More Than One Year 8 (13,308 ) (18,532 )
NET LIABILITIES (17,519 ) (25,068 )
CAPITAL AND RESERVES
Called up share capital 10 100 100
Profit and Loss Account (17,619 ) (25,168 )
SHAREHOLDERS' FUNDS (17,519) (25,068)
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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.
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
Mrs Sinead Evans
Director
18 November 2024
The notes on pages 3 to 5 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
T.E.A.M Scaffolding Limited is a private company, limited by shares, incorporated in England & Wales, registered number 11581929 . The registered office is 22 Hardy Place, Lichfield, WS14 9FX.
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 20
Motor Vehicles 25
Computer Equipment 33
2.4. Leasing and Hire Purchase Contracts
Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account as incurred.
2.5. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 2 (2023: 1)
2 1
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4. Tangible Assets
Plant & Machinery Motor Vehicles Computer Equipment Total
£ £ £ £
Cost
As at 1 May 2023 - 48,745 199 48,944
Additions 9,101 11,945 - 21,046
Disposals - (23,750 ) - (23,750 )
As at 30 April 2024 9,101 36,940 199 46,240
Depreciation
As at 1 May 2023 - 28,471 199 28,670
Provided during the period 223 8,489 - 8,712
Disposals - (14,349 ) - (14,349 )
As at 30 April 2024 223 22,611 199 23,033
Net Book Value
As at 30 April 2024 8,878 14,329 - 23,207
As at 1 May 2023 - 20,274 - 20,274
5. Stocks
2024 2023
£ £
Stock 19,520 18,952
Work in progress 6,702 5,890
26,222 24,842
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 2,880 8,064
Prepayments and accrued income 13,750 -
16,630 8,064
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 5,486 7,079
Trade creditors 45,590 9,509
Bank loans and overdrafts 4,985 -
VAT 5,063 12,306
Net wages - 1,428
CIS control 2,712 -
Subcontractor control 217 -
Accruals and deferred income 2,950 2,700
Directors' loan accounts 3,267 28,819
70,270 61,841
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8. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 7,695 10,460
Bank loans 5,613 8,072
13,308 18,532
9. Obligations Under Finance Leases and Hire Purchase
2024 2023
£ £
The future minimum finance lease payments are as follows:
Not later than one year 7,360 9,141
Later than one year and not later than five years 10,534 13,630
17,894 22,771
Less: Finance charges allocated to future periods 4,713 5,232
13,181 17,539
10. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
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