Registered number
06970635
Dynamic Teamworld (UK) Limited
Filleted Accounts
31 July 2024
Dynamic Teamworld (UK) Limited
Registered number: 06970635
Balance Sheet
as at 31 July 2024
Notes 2024 2023
£ £
Fixed assets
Investment properties 3 6,020,000 6,020,000
Current assets
Debtors 4 27,764 17,591
Cash at bank and in hand 302,183 370,416
329,947 388,007
Creditors: amounts falling due within one year 5 (189,627) (181,091)
Net current assets 140,320 206,916
Total assets less current liabilities 6,160,320 6,226,916
Creditors: amounts falling due after more than one year 6 (2,736,306) (3,016,306)
Provisions for liabilities (310,255) (310,255)
Net assets 3,113,759 2,900,355
Capital and reserves
Called up share capital 1,500 1,500
Profit and loss account 3,112,259 2,898,855
Shareholders' funds 3,113,759 2,900,355
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges her responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Ms Chow Hong Leey
Director
Approved by the board on 9 June 2025
Dynamic Teamworld (UK) Limited
Notes to the Accounts
for the year ended 31 July 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration for rent receivable, net of discounts and value added taxes. The company recognises revenue when the amount of revenue can be reliably measured; it is probable that future economic benefits will flow to the entity; and specific criteria have been met for each of the company's activities.
Investment properties
Investment properties are those which are held either to earn rental income or for capital appreciation or for both. Investment properties are measured at cost, including related transaction costs. After initial recognition at cost, investment properties are carried at their fair values based on market value determined by Directors annually and by professional independent valuers every three years. The difference between the fair value of an investment at the reporting date and its carrying amount prior to re-measurement is included in the income statement as a valuation surplus or deficit.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 1 1
3 Investments
Investment
properties
£
Cost
At 1 August 2023 6,020,000
At 31 July 2024 6,020,000
The fair value adjustment of the investment properties have been carried out by the director. The director having suitable knowledge and qualification considered the above valution to be a fair reflection of the value of the investment properties as at 31 July 2024.
4 Debtors 2024 2023
£ £
Trade debtors 27,764 17,591
5 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 80,000 80,000
Trade creditors 9,647 9,597
Taxation and social security costs 71,295 30,329
Other creditors 28,685 61,165
189,627 181,091
6 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 1,571,000 1,851,000
Other creditors 1,165,306 1,165,306
2,736,306 3,016,306
7 Loans 2024 2023
£ £
Creditors include:
Secured bank loans 1,651,000 1,931,000
The aggregate amount of creditors for which security has been given amounted to £1,651,000. These amounts have been secured against the investment properties of the company.
8 Other information
Dynamic Teamworld (UK) Limited is a private company limited by shares and incorporated in England. Its registered office is:
311 Regents Park Road
London
N3 1DP
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