Company registration number SC126815 (Scotland)
Team Niblick Limited
Unaudited financial statements
for the year ended 31 August 2024
Pages for filing with registrar
Team Niblick Limited
Chartered Accountants' report to the director on the preparation of the
unaudited statutory financial statements of Team Niblick Limited
1

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Team Niblick Limited for the year ended 31 August 2024 which comprise, the statement of financial position and the related notes from the company’s accounting records and from information and explanations you have given us.

 

As a practising member firm of the ICAS we are subject to its ethical and other professional requirements which are detailed at https://www.icas.com/professional-resources/practice/support-and-guidance/framework-for-the-preparation-of-accounts-revised-june-2020.

This report is made solely to the Director of Team Niblick Limited in accordance with the terms of our engagement letter dated 21 April 2010. Our work has been undertaken solely to prepare for your approval the financial statements of Team Niblick Limited and state those matters that we have agreed to state to the Director of Team Niblick Limited in this report in accordance with the requirements of the ICAS as detailed at https://www.icas.com/professional-resources/practice/support-and-guidance/framework-for-the-preparation-of-accounts-revised-june-2020. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Team Niblick Limited and its Director for our work or for this report.

It is your duty to ensure that Team Niblick Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Team Niblick Limited. You consider that Team Niblick Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Team Niblick Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

James Milne
Chartered Accountants
5 High Street
Inverurie
AB51 3QA
28 May 2025
Team Niblick Limited
Statement of financial position
as at 31 August 2024
31 August 2024
2
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
8,639
8,409
Current assets
Debtors
210,173
210,297
Cash at bank and in hand
552,710
545,532
762,883
755,829
Creditors: amounts falling due within one year
(386,019)
(557,022)
Net current assets
376,864
198,807
Total assets less current liabilities
385,503
207,216
Provisions for liabilities
(2,147)
(1,779)
Net assets
383,356
205,437
Capital and reserves
Called up share capital
2
2
Profit and loss reserves
383,354
205,435
Total equity
383,356
205,437

In accordance with section 444 of the Companies Act 2006, all of the members of the company have consented to the preparation of abridged financial statements pursuant to paragraph 1A of Schedule 1 to the Small Companies and Groups (Accounts and Directors’ Report) Regulations (SI 2008/409)(b).

The director of the company has elected not to include a copy of the income statement within the financial statements.true

For the financial year ended 31 August 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

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

Team Niblick Limited
Statement of financial position (continued)
as at 31 August 2024
31 August 2024
3
The financial statements were approved and signed by the director and authorised for issue on 23 May 2025
Graeme J. Webster
Director
Company registration number SC126815 (Scotland)
Team Niblick Limited
Notes to the financial statements
for the year ended 31 August 2024
4
1
Accounting policies
Company information

Team Niblick Limited is a private company limited by shares incorporated in Scotland. The registered office is 33 Cairn Wynd, Inverurie, Aberdeenshire, AB51 5HQ.

1.1
Accounting convention

The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).

The financial statements are prepared in sterling, which is the functional currency of the company.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

1.3
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Plant and equipment
20% reducing balance
Fixtures and fittings
20% reducing balance
Motor vehicles
25% reducing balance

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.4
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

Team Niblick Limited
Notes to the financial statements (continued)
for the year ended 31 August 2024
1
Accounting policies (continued)
5
1.5
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the income statement because it excludes items of income or expense that are taxable or deductible in other years and it further excludes 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 reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

 

The carrying amount of deferred tax assets is reviewed at each reporting end date 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 is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the income statement, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

1.6
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.7
Leases

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.

1.8
Foreign exchange

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.

Team Niblick Limited
Notes to the financial statements (continued)
for the year ended 31 August 2024
6
2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
4
4
3
Tangible fixed assets
Total
£
Cost
At 1 September 2023
18,041
Additions
4,000
At 31 August 2024
22,041
Depreciation and impairment
At 1 September 2023
9,632
Depreciation charged in the year
3,770
At 31 August 2024
13,402
Carrying amount
At 31 August 2024
8,639
At 31 August 2023
8,409
4
Directors' transactions

During the year the director entered into the following advances and credits with the company:

Description
Opening    debit     balance
Amounts advanced
Amounts credited
Closing     credit     balance
£
£
£
£
Graeme J. Webster - director's loan
(18,754)
(103,388)
136,332
14,190
(18,754)
(103,388)
136,332
14,190
2024-08-312023-09-01falsefalsefalse28 May 2025CCH SoftwareCCH Accounts Production 2025.100The principal activity of the company in the year under review is that of golf course design and maintenance consultation.
Graeme J. WebsterSonia G. Webster
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