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REGISTERED NUMBER: 02515480 (England and Wales)












TEAMPOWER LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2024






TEAMPOWER LIMITED (REGISTERED NUMBER: 02515480)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


TEAMPOWER LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 JUNE 2024







DIRECTORS: Mr E Loucas
Mrs H Loucas





REGISTERED OFFICE: 282 Prince Regents Lane
Custom House
London
E16 3JH





REGISTERED NUMBER: 02515480 (England and Wales)





ACCOUNTANTS: Christiansons Ltd
Chartered Certified Accountants
Sterling House
Fulbourne Road
Walthamstow
London
E17 4EE

TEAMPOWER LIMITED (REGISTERED NUMBER: 02515480)

BALANCE SHEET
30 JUNE 2024

30.6.24 30.6.23
Notes £    £    £    £   
FIXED ASSETS
Investment property 4 2,925,000 2,925,000

CURRENT ASSETS
Debtors 5 2,896 2,203
Cash at bank 29,053 18,647
31,949 20,850
CREDITORS
Amounts falling due within one year 6 113,491 89,414
NET CURRENT LIABILITIES (81,542 ) (68,564 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,843,458

2,856,436

CREDITORS
Amounts falling due after more than one
year

7

(714,382

)

(736,460

)

PROVISIONS FOR LIABILITIES (371,593 ) (371,593 )
NET ASSETS 1,757,483 1,748,383

CAPITAL AND RESERVES
Called up share capital 9 100 100
Fair value reserve 10 1,603,868 1,603,868
Retained earnings 10 153,515 144,415
SHAREHOLDERS' FUNDS 1,757,483 1,748,383

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

TEAMPOWER LIMITED (REGISTERED NUMBER: 02515480)

BALANCE SHEET - continued
30 JUNE 2024


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 21 February 2025 and were signed on its behalf by:





Mr E Loucas - Director


TEAMPOWER LIMITED (REGISTERED NUMBER: 02515480)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024


1. STATUTORY INFORMATION

Teampower Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover
Turnover represents the gross rents receivable, excluding value added tax. Turnover is recognised when the rent becomes due under the lease agreement.

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

TEAMPOWER LIMITED (REGISTERED NUMBER: 02515480)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024


4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 July 2023
and 30 June 2024 2,925,000
NET BOOK VALUE
At 30 June 2024 2,925,000
At 30 June 2023 2,925,000

Fair value at 30 June 2024 is represented by:
£   
Valuation in 2015 790,461
Valuation in 2017 460,000
Valuation in 2023 725,000
Cost 949,539
2,925,000

Investment properties was valued on fair value basis on 30 June 2023 by the directors .

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.24 30.6.23
£    £   
Prepayments 2,896 2,203

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.24 30.6.23
£    £   
Bank loans and overdrafts 65,336 62,861
Tax 2,134 4,604
Shareholders Loan 8,093 8,093
Directors' current accounts 36,158 12,176
Accrued expenses 1,770 1,680
113,491 89,414

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30.6.24 30.6.23
£    £   
Bank loans - 1-2 years 65,336 62,861
Bank loans - 2-5 years 196,434 188,584
Bank loans more 5 yr by instal 186,803 219,206
Directors' loans 265,809 265,809
714,382 736,460

TEAMPOWER LIMITED (REGISTERED NUMBER: 02515480)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024


7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR - continued
30.6.24 30.6.23
£    £   
Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 186,803 219,206

8. SECURED DEBTS

The following secured debts are included within creditors:

30.6.24 30.6.23
£    £   
Bank loans 513,909 533,512

The investment properties are subject to fixed and floating legal charges securing the bank loan advances to the company.

The directors, Mr E Loucas and Mrs H Loucas, have given unlimited personal guarantees regarding the bank loans.

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 30.6.24 30.6.23
value: £    £   
100 Ordinary £1 100 100

10. RESERVES
Fair
Retained value
earnings reserve Totals
£    £    £   

At 1 July 2023 144,415 1,603,868 1,748,283
Profit for the year 9,100 9,100
At 30 June 2024 153,515 1,603,868 1,757,383

11. CONTROLLING PARTY

The ultimate controlling party is Mr E Loucas.