Company No: 08395017 (England and Wales)

Contents

• Balance Sheet
• Notes to the Financial Statements

	Note	2026		2025
		£		£
Fixed assets
Tangible assets	3	16,384		15,231
		16,384		15,231
Current assets
Debtors	4	8,474		1
Cash at bank and in hand		568,851		110,543
		577,325		110,544
Creditors: amounts falling due within one year	5	( 174,574)		( 93,552)
Net current assets		402,751		16,992
Total assets less current liabilities		419,135		32,223
Net assets		419,135		32,223
Capital and reserves
Called-up share capital	6	100		2
Profit and loss account		419,035		32,221
Total shareholders' funds		419,135		32,223

For the financial year ending 28 February 2026 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 financial statements for the financial year in accordance with section 476;
• The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements; and
• These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Profit and Loss Account has not been delivered.

The financial statements of Team FS Limited (registered number: 08395017) were approved and authorised for issue by the Board of Directors on 02 September 2026. They were signed on its behalf by:

D Fletcher-Scott Director

1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Team FS Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Ground Floor Centenary House, Peninsula Park, Rydon Lane, Exeter, EX2 7XE, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Foreign currency

Transactions in foreign currencies are recorded at the rate of exchange at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the Balance Sheet date are reported at the rates of exchange prevailing at that date.

Turnover

Turnover is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer.
Turnover from the sale of goods is recognised when the goods are physically delivered to the customer.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a [straight-line, reducing balance] basis over its expected useful life, as follows:

Plant and machinery	20 % reducing balance
Fixtures and fittings	15 % reducing balance
Computer equipment	25 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Leases

The Company as lessee
Assets held under finance leases, hire purchase contracts and other similar arrangements, which confer rights and obligations similar to those attached to owned assets, are capitalised as tangible fixed assets at the fair value of the leased asset (or, if lower, the present value of the minimum lease payments as determined at the inception of the lease) and are depreciated over the shorter of the lease terms and their useful lives. The capital elements of future lease obligations are recorded as liabilities, while the interest elements are charged to the Profit and Loss Account over the period of the leases to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Profit and Loss Account.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets receivable within one year, such as trade debtors and bank balances, are measured at transaction price less any impairment.

Basic financial assets receivable within more than one year are measured at amortised cost less any impairment.

Basic financial liabilities
Basic financial liabilities that have no stated interest rate and are payable within one year, such as trade creditors, are measured at transaction price.

Other basic financial liabilities are measured at amortised cost.

Financial liabilities are derecognised when the Company's contractual obligations expire or are discharged or cancelled.

2. Employees

	2026		2025
	Number		Number
Monthly average number of persons employed by the Company during the year, including directors	2		1

3. Tangible assets

	Plant and machinery		Fixtures and fittings		Computer equipment		Total
	£		£		£		£
Cost
At 01 March 2025	21,625		17,498		4,714		43,837
Additions	0		679		3,745		4,424
At 28 February 2026	21,625		18,177		8,459		48,261
Accumulated depreciation
At 01 March 2025	12,518		13,422		2,666		28,606
Charge for the financial year	1,822		655		794		3,271
At 28 February 2026	14,340		14,077		3,460		31,877
Net book value
At 28 February 2026	7,285		4,100		4,999		16,384
At 28 February 2025	9,107		4,076		2,048		15,231

4. Debtors

	2026		2025
	£		£
Trade debtors	0		1
Other debtors	8,474		0
	8,474		1

5. Creditors: amounts falling due within one year

	2026		2025
	£		£
Taxation and social security	153,223		7,146
Other creditors	21,351		86,406
	174,574		93,552

6. Called-up share capital

	2026		2025
	£		£
Allotted, called-up and fully-paid
100 Ordinary shares of £ 1.00 each (2025: 2 shares of £ 1.00 each)	100		2