Acorah Software Products - Accounts Production 16.1.300 false true 31 December 2023 1 January 2023 false 26 February 2025 1 January 2024 31 December 2024 31 December 2024 06130325 Mr James Bedford Mrs Sandra Bedford Taulukeskus TK-Team OY AB Maorlantie 3 24800 Halikko FINLAND true iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 06130325 2023-12-31 06130325 2024-12-31 06130325 2024-01-01 2024-12-31 06130325 frs-core:CurrentFinancialInstruments 2024-12-31 06130325 frs-core:FurnitureFittings 2024-12-31 06130325 frs-core:FurnitureFittings 2024-01-01 2024-12-31 06130325 frs-core:FurnitureFittings 2023-12-31 06130325 frs-core:MotorVehicles 2024-12-31 06130325 frs-core:MotorVehicles 2024-01-01 2024-12-31 06130325 frs-core:MotorVehicles 2023-12-31 06130325 frs-core:PlantMachinery 2024-12-31 06130325 frs-core:PlantMachinery 2024-01-01 2024-12-31 06130325 frs-core:PlantMachinery 2023-12-31 06130325 frs-core:ShareCapital 2024-12-31 06130325 frs-core:RetainedEarningsAccumulatedLosses 2024-12-31 06130325 frs-bus:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31 06130325 frs-bus:FilletedAccounts 2024-01-01 2024-12-31 06130325 frs-bus:SmallEntities 2024-01-01 2024-12-31 06130325 frs-bus:Audited 2024-01-01 2024-12-31 06130325 frs-bus:SmallCompaniesRegimeForAccounts 2024-01-01 2024-12-31 06130325 1 2024-01-01 2024-12-31 06130325 frs-bus:Director1 2024-01-01 2024-12-31 06130325 frs-bus:CompanySecretary1 2024-01-01 2024-12-31 06130325 frs-core:CurrentFinancialInstruments 1 2024-12-31 06130325 frs-countries:EnglandWales 2024-01-01 2024-12-31 06130325 2022-12-31 06130325 2023-12-31 06130325 2023-01-01 2023-12-31 06130325 frs-core:CurrentFinancialInstruments 2023-12-31 06130325 frs-core:ShareCapital 2023-12-31 06130325 frs-core:RetainedEarningsAccumulatedLosses 2023-12-31 06130325 frs-core:CurrentFinancialInstruments 1 2023-12-31
Registered number: 06130325
TK-Team Limited
Financial Statements
For The Year Ended 31 December 2024
Contents
Page
Statement of Financial Position 1
Notes to the Financial Statements 2—4
Page 1
Statement of Financial Position
Registered number: 06130325
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 14,180 15,206
14,180 15,206
CURRENT ASSETS
Stocks 5 48,885 62,914
Debtors 6 236,914 206,427
Cash at bank and in hand 12,485 35,861
298,284 305,202
Creditors: Amounts Falling Due Within One Year 7 (636,701 ) (648,709 )
NET CURRENT ASSETS (LIABILITIES) (338,417 ) (343,507 )
TOTAL ASSETS LESS CURRENT LIABILITIES (324,237 ) (328,301 )
NET LIABILITIES (324,237 ) (328,301 )
CAPITAL AND RESERVES
Called up share capital 8 60,000 60,000
Income Statement (384,237 ) (388,301 )
SHAREHOLDERS' FUNDS (324,237) (328,301)
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 Income Statement.
On behalf of the board
Mr James Bedford
Director
26/02/2025
The notes on pages 2 to 4 form part of these financial statements.
Page 1
Page 2
Notes to the Financial Statements
1. General Information
TK-Team Limited is a private company, limited by shares, incorporated in England & Wales, registered number 06130325 . The registered office is Walters Ridge, Dell Road, Finchampstead, Wokingham, Berkshire, RG40 3TB.
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 % Reducing Balance
Motor Vehicles Straight line over three years
Fixtures & Fittings Straight line over three years
2.4. 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.
2.5. Foreign Currencies
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the statement of financial position date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
2.6. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other year and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and asset reflects the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
Page 2
Page 3
3. Average Number of Employees
Average number of employees, including directors, during the year was:
2024 2023
Office and administration 1 1
Sales, marketing and distribution 3 3
4 4
4. Tangible Assets
Plant & Machinery Motor Vehicles Fixtures & Fittings Total
£ £ £ £
Cost
As at 1 January 2024 4,223 35,605 24,644 64,472
Additions 2,575 10,650 287 13,512
Disposals - (14,666 ) - (14,666 )
As at 31 December 2024 6,798 31,589 24,931 63,318
Depreciation
As at 1 January 2024 2,695 22,762 23,809 49,266
Provided during the period 435 4,582 874 5,891
Disposals - (6,019 ) - (6,019 )
As at 31 December 2024 3,130 21,325 24,683 49,138
Net Book Value
As at 31 December 2024 3,668 10,264 248 14,180
As at 1 January 2024 1,528 12,843 835 15,206
5. Stocks
2024 2023
£ £
Finished goods 48,885 62,914
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 119,319 88,758
Prepayments and accrued income 19,391 18,349
Deferred tax current asset 98,204 99,320
236,914 206,427
Page 3
Page 4
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 577,622 596,394
Bank loans and overdrafts 4,220 2,571
Other taxes and social security 5,727 5,600
VAT 27,446 25,631
Other creditors (1) 80 139
Accruals and deferred income 14,172 17,506
Director's loan account 538 868
Payments on account 6,896 -
636,701 648,709
8. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 60,000 60,000
9. FRC's Ethical Standard - Provision Available for Small Entities
In common with other businesses of our size and nature we use our auditors to prepare and submit returns to the tax authorities and assist with the preparation of the financial statements.
10. Ultimate Parent Undertaking and Controlling Party
The company's immediate and ultimate parent undertaking is Taulukeskus TK-Team OY AB . Taulukeskus TK-Team OY AB was incorporated in Finland. Copies of the group accounts may be obtained from the secretary, Maorlantie 3 24800 Halikko FINLAND . The ultimate controlling party is Taulukeskus TK-Team OY AB who controls 100% of the shares of TK-Team Limited .
11. Audit Information
The auditor's report on the accounts of TK-Team Limited for the year ended 31 December 2024 was unqualified.
The auditor's report was signed by Philip Nixon (Senior Statutory Auditor) for and on behalf of Edwin Smith Chartered Accountants , Statutory Auditor.
Edwin Smith Chartered Accountants
32 Queens Road
Reading
Berkshire
RG1 4AU
Page 4