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Registered number: 02144800
Teamsters Limited
Unaudited Financial Statements
For The Year Ended 31 October 2024
Elsby & Company Limited
155 Wellingborough Road
Rushden
Northamptonshire
NN10 9TB
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 02144800
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 936,016 1,030,542
936,016 1,030,542
CURRENT ASSETS
Debtors 5 120,056 31,446
Cash at bank and in hand 520,197 327,935
640,253 359,381
Creditors: Amounts Falling Due Within One Year 6 (507,145 ) (512,617 )
NET CURRENT ASSETS (LIABILITIES) 133,108 (153,236 )
TOTAL ASSETS LESS CURRENT LIABILITIES 1,069,124 877,306
Creditors: Amounts Falling Due After More Than One Year 7 (542,707 ) (254,475 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (209,903 ) (231,261 )
NET ASSETS 316,514 391,570
CAPITAL AND RESERVES
Called up share capital 8 6 6
Profit and Loss Account 316,508 391,564
SHAREHOLDERS' FUNDS 316,514 391,570
Page 1
Page 2
For the year ending 31 October 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 directors acknowledge their 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.
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 Profit and Loss Account.
On behalf of the board
G F Burridge
Director
11th June 2025
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Teamsters Limited is a private company, limited by shares, incorporated in England & Wales, registered number 02144800 . The registered office is Units 1 & 2, Long Haydons, Bletsoe, Bedfordshire, MK44 1QW.
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, excluding discounts,
rebates, value added tax and other sales taxes.
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:
Freehold 2% reducing balance
Leasehold 15% reducing balance
Plant & Machinery 15% reducing balance
Motor Vehicles 10% straight line
Fixtures & Fittings Straight line over 30 years
Computer Equipment 15% reducing balance
2.4. Leasing and Hire Purchase Contracts
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.
2.5. Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.
Current or deferred taxation assets and liabilities are not discounted.
Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.
Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.
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.
3. Average Number of Employees
Average number of employees, including directors, during the year was: NIL (2023: NIL)
- -
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Page 4
4. Tangible Assets
Land & Property
Freehold Investment Properties Plant & Machinery Motor Vehicles
£ £ £ £
Cost
As at 1 November 2023 750,000 193,957 648,705 41,530
Additions - - - -
Disposals - - (66,580 ) -
As at 31 October 2024 750,000 193,957 582,125 41,530
Depreciation
As at 1 November 2023 47,636 94,377 429,724 36,499
Provided during the period 14,047 15,334 31,792 875
Disposals - - (34,599 ) -
As at 31 October 2024 61,683 109,711 426,917 37,374
Net Book Value
As at 31 October 2024 688,317 84,246 155,208 4,156
As at 1 November 2023 702,364 99,580 218,981 5,031
Fixtures & Fittings Computer Equipment Total
£ £ £
Cost
As at 1 November 2023 18,576 7,449 1,660,217
Additions - 999 999
Disposals - - (66,580 )
As at 31 October 2024 18,576 8,448 1,594,636
Depreciation
As at 1 November 2023 16,909 4,530 629,675
Provided during the period 252 1,244 63,544
Disposals - - (34,599 )
As at 31 October 2024 17,161 5,774 658,620
Net Book Value
As at 31 October 2024 1,415 2,674 936,016
As at 1 November 2023 1,667 2,919 1,030,542
5. Debtors
2024 2023
£ £
Due within one year
Trade debtors 38,977 27,120
Amounts owed by participating interests 58,059 -
Other debtors 23,020 4,326
120,056 31,446
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Page 5
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 46,272 8,290
Bank loans and overdrafts 9,167 10,000
Other loans 36,996 35,878
Amounts owed to group undertakings - 82,007
Other creditors 307,200 254,389
Taxation and social security 107,510 122,053
507,145 512,617
7. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 10,833 20,000
Other loans 197,480 234,475
Other creditors 334,394 -
542,707 254,475
8. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 6 6
9. Exceptional Items
The company has income in the year from their fire insurance account. The amount for the year ending 31st October 2024 being moved from the fire account to exceptional items is £600,000 (2023: £400,000).
Page 5