BrightAccountsProduction v1.0.0 v1.0.0 2023-04-01 The company was not dormant during the period The company was trading for the entire period Unaudited Accounts The principal activity of the company is that of a plumbing contractor. 13 March 2025 NI601791 2024-03-31 NI601791 2023-03-31 NI601791 2022-03-31 NI601791 2023-04-01 2024-03-31 NI601791 2022-04-01 2023-03-31 NI601791 uk-bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 NI601791 uk-curr:PoundSterling 2023-04-01 2024-03-31 NI601791 uk-bus:AbridgedAccounts 2023-04-01 2024-03-31 NI601791 uk-bus:Director1 2023-04-01 2024-03-31 NI601791 uk-bus:Director2 2023-04-01 2024-03-31 NI601791 uk-bus:RegisteredOffice 2023-04-01 2024-03-31 NI601791 uk-bus:Agent1 2023-04-01 2024-03-31 NI601791 uk-core:ShareCapital 2024-03-31 NI601791 uk-core:ShareCapital 2023-03-31 NI601791 uk-core:RetainedEarningsAccumulatedLosses 2024-03-31 NI601791 uk-core:RetainedEarningsAccumulatedLosses 2023-03-31 NI601791 uk-core:TotalEquityAttributableToOwnersParentBeforeNon-controllingInterests 2024-03-31 NI601791 uk-core:TotalEquityAttributableToOwnersParentBeforeNon-controllingInterests 2023-03-31 NI601791 uk-core:RetainedEarningsAccumulatedLosses 2023-04-01 2024-03-31 NI601791 uk-bus:FRS102 2023-04-01 2024-03-31 NI601791 uk-core:Goodwill 2023-04-01 2024-03-31 NI601791 uk-core:PlantMachinery 2023-04-01 2024-03-31 NI601791 uk-core:FurnitureFittingsToolsEquipment 2023-04-01 2024-03-31 NI601791 uk-core:MotorVehicles 2023-04-01 2024-03-31 NI601791 uk-core:Goodwill 2023-03-31 NI601791 uk-core:Goodwill 2024-03-31 NI601791 2023-04-01 2024-03-31 NI601791 uk-bus:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 xbrli:pure iso4217:GBP xbrli:shares
Company Registration Number: NI601791
 
 
Team Mechanical Ltd
 
Abridged Unaudited Financial Statements
 
for the financial year ended 31 March 2024
Team Mechanical Ltd
DIRECTORS AND OTHER INFORMATION

 
Directors Michelle McGeough
Maura Grogan
 
 
Company Registration Number NI601791
 
 
Registered Office and Business Address Unit 38
CIDO Business Complex
Charles Street
Lurgan
Armagh
BT66 6HG
Northern  Ireland
 
 
Accountants Kelly and Co
16 Partick Street
Strabane
Tyrone
BT828DG
United Kingdom



Team Mechanical Ltd
DIRECTORS' REPORT
for the financial year ended 31 March 2024

 
The directors present their report and the unaudited financial statements for the financial year ended 31 March 2024.
 
Principal Activity
The principal activity of the company is that of a plumbing contractor.
     
Results and Dividends
The profit for the financial year after providing for depreciation and taxation amounted to £424,733 (2023 - £417,799).
     
Directors
The directors who served during the financial year are as follows:
     
Michelle McGeough
Maura Grogan
   
There were no changes in shareholdings between 31 March 2024 and the date of signing the financial statements.
     
In accordance with the Articles of Association, the directors retire by rotation and, being eligible, offer themselves for re-election.
     
Political Contributions
The company did not make any disclosable political donations in the current financial year.
     
Statement of directors' Responsibilities and Declaration on Unaudited Financial Statements
     
The directors made the following statement in respect of the unaudited financial statements:
     
"General responsibilities
The directors are responsible for preparing the Directors' Report and the financial statements in accordance with applicable law and regulations.
     
Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law) including FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" Section 1A (Small Entities). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period.

In preparing these financial statements, the directors are required to:
select suitable accounting policies and apply them consistently;
make judgements and accounting estimates that are reasonable and prudent;
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.
     
The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
     
Directors' declaration on unaudited financial statements
In relation to the financial statements comprising the Abridged Profit and Loss Account, the Abridged Balance Sheet, the Reconciliation of Shareholders' Funds and the related notes:
     
The directors approve these financial statements and confirm that they are responsible for them, including selecting the appropriate accounting policies, applying them consistently and making, on a reasonable and prudent basis, the judgements underlying them. They have been prepared on the going concern basis on the grounds that the company will continue in business.
     
The directors confirm that they have made available to Kelly and Co, all the company's accounting records and provided all the information, books and documents necessary for the compilation of the financial statements.
     
The directors confirm that to the best of their knowledge and belief, the accounting records reflect all the transactions of the company for the financial year ended 31 March 2024."
     
Special provisions relating to small companies
The above report has been prepared in accordance with the special provisions relating to small companies within Part 15 of the Companies Act 2006.
     
     
On behalf of the board
     
     
___________________________
Maura Grogan
Director
     
13 March 2025



Team Mechanical Ltd
ABRIDGED PROFIT AND LOSS ACCOUNT
for the financial year ended 31 March 2024
2024 2023
Notes £ £

Gross profit 758,453 727,880
 
Administrative expenses (209,781) (209,181)
───────── ─────────
Operating profit 548,672 518,699
 
Interest payable and similar expenses (1,862) (1,862)
───────── ─────────
Profit before taxation 546,810 516,837
 
Tax on profit (122,077) (99,038)
───────── ─────────
Profit for the financial year 424,733 417,799
    ═════════   ═════════



Team Mechanical Ltd
Company Registration Number: NI601791
ABRIDGED BALANCE SHEET
as at 31 March 2024

2024 2023
Notes £ £
 
Fixed Assets
Tangible assets 5 248,451 207,757
───────── ─────────
 
Current Assets
Debtors 216,530 63,881
Cash and cash equivalents 997,240 818,499
───────── ─────────
1,213,770 882,380
───────── ─────────
Creditors: amounts falling due within one year (176,360) (125,409)
───────── ─────────
Net Current Assets 1,037,410 756,971
───────── ─────────
Total Assets less Current Liabilities 1,285,861 964,728
═════════ ═════════
 
Capital and Reserves
Called up share capital 2 2
Retained earnings 1,285,859 964,726
───────── ─────────
Equity attributable to owners of the company 1,285,861 964,728
═════════ ═════════
 
The financial statements have been prepared 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).
           
All of the members have consented to the preparation of abridged accounts in accordance with section 444(2A) of the Companies Act 2006.
For the financial year ended 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006.
           
The directors confirm that the members have not required the company to obtain an audit of its financial statements for the financial year in question in accordance with section 476 of the Companies Act 2006.
           
The directors acknowledge their responsibilities for ensuring that the company keeps accounting records which comply with section 386 and for preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of the financial year and of its profit and loss for the 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.
           
Approved by the Board and authorised for issue on 13 March 2025 and signed on its behalf by
           
           
________________________________          
Maura Grogan          
Director          
           



Team Mechanical Ltd
RECONCILIATION OF SHAREHOLDERS' FUNDS
as at 31 March 2024

Called up Retained Total
share earnings
capital
£ £ £
 
At 1 April 2022
as previously stated 2 1,039,154 1,039,156
Prior financial year error correction - (311,227) (311,227)
───────── ───────── ─────────
At 1 April 2022 2 727,927 727,929
───────── ───────── ─────────
Profit for the financial year - 417,799 417,799
───────── ───────── ─────────
Payment of dividends - (181,000) (181,000)
  ───────── ───────── ─────────
At 31 March 2023 2 964,726 964,728
  ───────── ───────── ─────────
Profit for the financial year - 424,733 424,733
  ───────── ───────── ─────────
Payment of dividends - (103,600) (103,600)
  ───────── ───────── ─────────
At 31 March 2024 2 1,285,859 1,285,861
  ═════════ ═════════ ═════════



Team Mechanical Ltd
NOTES TO THE ABRIDGED FINANCIAL STATEMENTS
for the financial year ended 31 March 2024

   
1. General Information
 
Team Mechanical Ltd is a company limited by shares incorporated in the Northern Ireland
         
2. Summary of Significant Accounting Policies
 
The following accounting policies have been applied consistently in dealing with items which are considered material in relation to the company's financial statements.
 
Statement of compliance
The financial statements of the company for the year ended 31 March 2024 have been prepared in accordance with the provisions of FRS 102 Section 1A (Small Entities) and the Companies Act 2006.
 
Basis of preparation
The financial statements have been prepared on the going concern basis and in accordance with the historical cost convention except for certain properties and financial instruments that are measured at revalued amounts or fair values, as explained in the accounting policies below. Historical cost is generally based on the fair value of the consideration given in exchange for assets.
 
Turnover
Turnover comprises the invoice value of goods supplied by the company, exclusive of trade discounts and value added tax.
 
Goodwill
Purchased goodwill arising on the acquisition of a business represents the excess of the acquisition cost over the fair value of the identifiable net assets including other intangible fixed assets when they were acquired. Purchased goodwill is capitalised in the Balance Sheet and amortised on a straight line basis over its economic useful life of 0 years, which is estimated to be the period during which benefits are expected to arise.  On disposal of a business any goodwill not yet amortised is included in determining the profit or loss on sale of the business.
 
Tangible assets and depreciation
Tangible assets are stated at cost or at valuation, less accumulated depreciation. The charge to depreciation is calculated to write off the original cost or valuation of tangible assets, less their estimated residual value, over their expected useful lives as follows:
 
  Plant and machinery - 15% Straight line
  Fixtures, fittings and equipment - 15% Straight line
  Motor vehicles - 25% Straight line
 
The carrying values of tangible fixed assets are reviewed annually for impairment in periods if events or changes in circumstances indicate the carrying value may not be recoverable.
 
Investment properties
Investment property is property held either to earn rental income, or for capital appreciation (including future re-development) or for both, but not for sale in the ordinary course of business. Investment property is initially measured at cost, which includes the purchase cost and any directly attributable expenditure. Investment property is subsequently valued at its fair value at each reporting date, by professional external valuers. The difference between the fair value of an investment property at the reporting date and its carrying value prior to the valuation is recognised in the Abridged Profit and Loss Account as a fair value gain or loss. Any gain or loss on disposal of an investment property (calculated as the difference between the net proceeds from disposal and the carrying amount of the item) is recognised in the Abridged Profit and Loss Account.
 
Leasing and hire purchases
Tangible assets held under leasing and Hire Purchases arrangements which transfer substantially all the risks and rewards of ownership to the company are capitalised and included in the Balance Sheet at their cost or valuation, less depreciation. The corresponding commitments are recorded as liabilities. Payments in respect of these obligations are treated as consisting of capital and interest elements, with interest charged to the Profit and Loss Account.
 
Trade and other debtors
Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.
 
Trade and other creditors
Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.
 
Employee benefits
The company operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. The company also operates a defined benefit pension scheme for its employees providing benefits based on final pensionable pay. The assets of this scheme are also held separately from those of the company, being invested with pension fund managers.
 
Taxation and deferred taxation
Current tax represents the amount expected to be paid or recovered in respect of taxable profits for the financial year and is calculated using the tax rates and laws that have been enacted or substantially enacted at the Balance Sheet date.

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date where transactions or events have occurred at that date that will result in an obligation to pay more tax in the future, or a right to pay less tax in the future. Timing differences are temporary differences between the company's taxable profits and its results as stated in the financial statements. Deferred tax is measured on an undiscounted basis at the tax rates that are anticipated to apply in the periods in which the timing differences are expected to reverse, based on tax rates and laws that have been enacted or substantively enacted by the balance sheet date.
 
Foreign currencies
Monetary assets and liabilities denominated in foreign currencies are translated at the rates of exchange ruling at the Balance Sheet date. Non-monetary items that are measured in terms of historical cost in a foreign currency are translated at the rates of exchange ruling at the date of the transaction. Non-monetary items that are measured at fair value in a foreign currency are translated using the exchange rates at the date when the fair value was determined. The resulting exchange differences are dealt with in the Profit and Loss Account.
 
Ordinary share capital
The ordinary share capital of the company is presented as equity.
       
3. Employees
 
The average monthly number of employees, including directors, during the financial year was 4.
 
  2024 2023
  Number Number
 
Director 2 2
Employees 2 2
  ───────── ─────────
  4 4
  ═════════ ═════════
       
4. Intangible assets
     
  Goodwill Total
  £ £
Cost
At 1 April 2023 180,000 180,000
  ───────── ─────────
 
At 31 March 2024 180,000 180,000
  ───────── ─────────
Amortisation
 
At 31 March 2024 180,000 180,000
  ───────── ─────────
Net book value
At 31 March 2024 - -
  ═════════ ═════════
             
5. Tangible assets
  Investment Plant and Fixtures, Motor Total
  properties machinery fittings and vehicles  
      equipment    
  £ £ £ £ £
Cost or Valuation
At 1 April 2023 100,000 62,842 30,069 249,104 442,015
Additions - - - 70,052 70,052
  ───────── ───────── ───────── ───────── ─────────
At 31 March 2024 100,000 62,842 30,069 319,156 512,067
  ───────── ───────── ───────── ───────── ─────────
Depreciation
At 1 April 2023 - 42,428 19,074 172,756 234,258
Charge for the financial year - 4,083 1,649 23,626 29,358
  ───────── ───────── ───────── ───────── ─────────
At 31 March 2024 - 46,511 20,723 196,382 263,616
  ───────── ───────── ───────── ───────── ─────────
Net book value
At 31 March 2024 100,000 16,331 9,346 122,774 248,451
  ═════════ ═════════ ═════════ ═════════ ═════════
At 31 March 2023 100,000 20,414 10,995 76,348 207,757
  ═════════ ═════════ ═════════ ═════════ ═════════
       
6. Capital commitments
 
The company had no material capital commitments at the financial year-ended 31 March 2024.
   
7. Post-Balance Sheet Events
 
There have been no significant events affecting the company since the financial year-end.