Microteam Limited - Filleted accounts

Registered number

03152502

Microteam Limited

Filleted Accounts

31 March 2025

Microteam Limited
Registered number:		03152502
Balance Sheet
as at 31 March 2025

Notes			2025			2024
£				£
Fixed assets
Intangible assets	3		136,391			69,207
Tangible assets	4		68,049			94,700
			204,440			163,907

Current assets
Stocks		348,279			270,708
Debtors	5	828,177			732,596
Cash at bank and in hand		55,433			81,066
		1,231,889			1,084,370

Creditors: amounts falling due within one year	6	(793,791)			(389,960)

Net current assets			438,098			694,410

Total assets less current liabilities			642,538			858,317

Creditors: amounts falling due after more than one year	7		(22,414)			-



Net assets			620,124			858,317

Capital and reserves
Called up share capital			100			100
Profit and loss account			620,024			858,217

Shareholders' funds			620,124			858,317

The directors are 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 directors acknowledge their 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.




M Sutton
Director
Approved by the board on 15 January 2026

Microteam Limited
Notes to the Accounts
for the year ended 31 March 2025


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 received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.

	Tangible fixed assets
	Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:

	Freehold buildings	over 50 years
	Leasehold land and buildings	over the lease term
	Plant and machinery	25% reducing balance
	Fixtures, fittings, tools and equipment	25% reducing balance

	Investments
	Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.

	Stocks
	Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.

	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.

	Pensions
	Contributions to defined contribution plans are expensed in the period to which they relate.


2	Employees			2025		2024
Number					Number

	Average number of persons employed by the company			37		41


3	Intangible fixed assets					£
	Lease:

	Cost
	At 1 April 2024					79,399
	Additions					82,354
	At 31 March 2025					161,753

	Amortisation
	At 1 April 2024					10,192
	Provided during the year					15,170
	At 31 March 2025					25,362

	Net book value
	At 31 March 2025					136,391
	At 31 March 2024					69,207

	Leased asset is being written off in equal annual instalments over its estimated lease term of 10 years.


4	Tangible fixed assets
		Plant and machinery etc		Motor vehicles		Total
£			£		£
	Cost
	At 1 April 2024	167,461		113,927		281,388
	Additions	-		12,355		12,355
	Disposals	-		(38,114)		(38,114)
	At 31 March 2025	167,461		88,168		255,629

	Depreciation
	At 1 April 2024	136,329		50,359		186,688
	Charge for the year	7,959		7,806		15,765
	On disposals	-		(14,873)		(14,873)
	At 31 March 2025	144,288		43,292		187,580

	Net book value
	At 31 March 2025	23,173		44,876		68,049
	At 31 March 2024	31,132		63,568		94,700


5	Debtors			2025		2024
£					£

	Trade debtors			380,573		329,880
	Deferred tax asset			257,997		173,642
	Other debtors			189,607		229,074
				828,177		732,596


6	Creditors: amounts falling due within one year			2025		2024
£					£

	Obligations under finance lease and hire purchase contracts			14,430		-
	Trade creditors			261,358		259,687
	Taxation and social security costs			220,230		70,212
	Other creditors			297,773		60,061
				793,791		389,960


7	Creditors: amounts falling due after one year			2025		2024
£					£

	Obligations under finance lease and hire purchase contracts			22,414		-


8	Controlling party

	The controlling parties are Mr W D Sutton and Mr E Ratnaraja by virtue of their ownership of 50% each of the issued ordinary share capital of the company.


9	Other information

	Microteam Limited is a private company limited by shares and incorporated in England. Its registered office is:
	332-336 Holloway Road
	London
	N7 6NJ