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Registration number: 07160905

Total Teamwear Limited

Annual Report and Unaudited Financial Statements- Companies house filing

for the Year Ended 31 March 2025

 

Total Teamwear Limited

Contents

Statement of Financial Position

1 to 2

Notes to the Unaudited Financial Statements

3 to 7

 

Total Teamwear Limited

(Registration number: 07160905)
Statement of Financial Position as at 31 March 2025

Note

2025
£

2024
£

Fixed assets

 

Intangible assets

4

-

20,000

Tangible assets

5

258,428

264,159

 

258,428

284,159

Current assets

 

Stocks

6

-

1,000

Debtors

7

103,926

103,324

Cash at bank and in hand

 

86,432

100,962

 

190,358

205,286

Creditors: Amounts falling due within one year

8

(213,209)

(239,757)

Net current liabilities

 

(22,851)

(34,471)

Total assets less current liabilities

 

235,577

249,688

Provisions for liabilities

(2,107)

(3,296)

Net assets

 

233,470

246,392

Capital and reserves

 

Called up share capital

100

100

Profit and loss account

233,370

246,292

Shareholders' funds

 

233,470

246,392

For the financial year ending 31 March 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Income Statement.

Approved and authorised by the Board on 10 July 2025 and signed on its behalf by:
 

 

Total Teamwear Limited

(Registration number: 07160905)
Statement of Financial Position as at 31 March 2025

.........................................
Mr C W Davies
Director

 

Total Teamwear Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is: 47 Queens Road, Aldershot, Hampshire, GU11 3JE.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

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

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods in the ordinary course of the company’s activities. Turnover is shown net of value added tax, returns, rebates and discounts.

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.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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.

 

Total Teamwear Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Land and buildings

Not depreciated

Fixtures and fittings

25% on reducing balance

Office equipment

25% on reducing balance

Motor vehicles

25% on reducing balance

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Goodwill

over 10 years straight line method

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Trade debtors

Short term debtors are measured at transaction price, less any impairment.

Cash and cash equivalents

Cash is represented by cash in hand and bank deposits.

Trade creditors

Short term creditors are measured at the transaction price.

 

Total Teamwear Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

Provisions

Provisions are recognised when the company has an obligation at the reporting date as a result of a past event, it is probable that the company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

Employee benefits

Short-term employee benefits are recognised as an expense in the period which they are incurred.

Financial instruments

The Company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties and loans to related parties.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 5 (2024 - 5).

 

Total Teamwear Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

4

Intangible assets

Goodwill
 £

Total
£

Cost or valuation

At 1 April 2024

400,000

400,000

At 31 March 2025

400,000

400,000

Amortisation

At 1 April 2024

380,000

380,000

Amortisation charge

20,000

20,000

At 31 March 2025

400,000

400,000

Carrying amount

At 31 March 2025

-

-

At 31 March 2024

20,000

20,000

5

Tangible assets

Land and buildings
£

Fixtures and fittings
£

Office equipment
£

Motor vehicles
 £

Total
£

Cost or valuation

At 1 April 2024

250,000

71,758

9,580

3,000

334,338

Disposals

-

(29,996)

(4,637)

-

(34,633)

At 31 March 2025

250,000

41,762

4,943

3,000

299,705

Depreciation

At 1 April 2024

-

59,375

7,925

2,879

70,179

Charge for the year

-

2,432

347

30

2,809

Eliminated on disposal

-

(27,344)

(4,367)

-

(31,711)

At 31 March 2025

-

34,463

3,905

2,909

41,277

Carrying amount

At 31 March 2025

250,000

7,299

1,038

91

258,428

At 31 March 2024

250,000

12,383

1,655

121

264,159

Included within the net book value of land and buildings above is £250,000 (2024 - £250,000) in respect of freehold land and buildings.
 

 

Total Teamwear Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

6

Stocks

2025
£

2024
£

Finished goods and goods for resale

-

1,000

7

Debtors

2025
£

2024
£

Trade debtors

103,926

100,397

Prepayments

-

2,927

103,926

103,324

8

Creditors

Creditors: amounts falling due within one year

2025
£

2024
£

Trade creditors

95,503

96,635

Taxation and social security

73,979

80,884

Other creditors

43,727

62,238

213,209

239,757