1 June 2023 false No description of principal activity Taxfiler 2024.7 SC398803business:PrivateLimitedCompanyLtd2023-06-012024-05-31 SC3988032023-05-31 SC3988032023-06-012024-05-31 SC398803business:AuditExemptWithAccountantsReport2023-06-012024-05-31 SC398803business:FilletedAccounts2023-06-012024-05-31 SC3988032024-05-31 SC398803business:Director12023-06-012024-05-31 SC398803business:RegisteredOffice2023-06-012024-05-31 SC3988032023-05-31 SC398803core:WithinOneYear2024-05-31 SC398803core:WithinOneYear2023-05-31 SC398803core:ShareCapitalcore:PreviouslyStatedAmount2024-05-31 SC398803core:ShareCapitalcore:PreviouslyStatedAmount2023-05-31 SC398803core:RetainedEarningsAccumulatedLossescore:PreviouslyStatedAmount2024-05-31 SC398803core:RetainedEarningsAccumulatedLossescore:PreviouslyStatedAmount2023-05-31 SC398803core:PreviouslyStatedAmount2024-05-31 SC398803core:PreviouslyStatedAmount2023-05-31 SC398803business:SmallEntities2023-06-012024-05-31 SC398803countries:Scotland2023-06-012024-05-31 SC398803core:FurnitureFittings2023-06-012024-05-31 SC398803core:ComputerEquipment2023-06-012024-05-31 SC398803core:ComputerEquipment2023-05-31 SC398803core:ComputerEquipment2024-05-31 SC3988032022-06-012023-05-31 iso4217:GBP xbrli:pure
Company Registration No. SC398803 (Scotland)
Teoma Ltd Filleted accounts for the year ended 31 May 2024
Teoma Ltd Filleted accounts Contents
Page
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Teoma Ltd Company Information for the year ended 31 May 2024
Director
Scott Fraser
Company Number
SC398803 (Scotland)
Registered Office
Tigh Na Bruaich Ardbroilach Road Kingussie Inverness-Shire PH21 1LD
Accountants
Cameron Consulting (Scotland) Ltd 7 Poles Road Dornoch IV25 3HP
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Teoma Ltd Statement of financial position as at 31 May 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Tangible assets
491 
1,364 
Current assets
Debtors
1,593 
22,116 
Cash at bank and in hand
29,938 
27,105 
31,531 
49,221 
Creditors: amounts falling due within one year
(21,650)
(23,195)
Net current assets
9,881 
26,026 
Net assets
10,372 
27,390 
Capital and reserves
Called up share capital
2 
2 
Profit and loss account
10,370 
27,388 
Shareholders' funds
10,372 
27,390 
For the year ending 31 May 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 director acknowledges his 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 and authorised for issue on 20 February 2025 and were signed on its behalf by
Scott Fraser Director Company Registration No. SC398803
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Teoma Ltd Notes to the Accounts for the year ended 31 May 2024
1
Statutory information
Teoma Ltd is a private company, limited by shares, registered in Scotland, registration number SC398803. The registered office is Tigh Na Bruaich, Ardbroilach Road, Kingussie, Inverness-Shire, PH21 1LD.
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.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. 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 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:
Fixtures & fittings
over 4 years
Computer equipment
over 3 years
Foreign exchange
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rates of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
Pension costs
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
Leased assets
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term. Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
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Teoma Ltd Notes to the Accounts for the year ended 31 May 2024
4
Tangible fixed assets
Computer equipment 
£ 
Cost or valuation
At cost 
At 1 June 2023
9,905 
At 31 May 2024
9,905 
Depreciation
At 1 June 2023
8,541 
Charge for the year
873 
At 31 May 2024
9,414 
Net book value
At 31 May 2024
491 
At 31 May 2023
1,364 
5
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
Trade debtors
- 
22,116 
Other debtors
1,593 
- 
1,593 
22,116 
6
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
VAT
5,545 
7,101 
Taxes and social security
14,169 
13,666 
Other creditors
386 
978 
Accruals
1,550 
1,450 
21,650 
23,195 
7
Average number of employees
During the year the average number of employees was 2 (2023: 2).
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