Accounts Submission

Accounts Submission

PIP TEAM LIMITED - Company Information

Print Friendly Version

PIP TEAM LIMITED

Company Registration Number:
06253782 (England and Wales)

Unaudited abridged accounts for the year ended 31 March 2019

Period of accounts

Start date: 01 April 2018

End date: 31 March 2019

Page 1

PIP TEAM LIMITED

Contents of the Financial Statements

for the Period Ended 31 March 2019

Company Information - 3
Balance sheet - 4
Additional notes - 6
Balance sheet notes - 8

Page 2

PIP TEAM LIMITED

Company Information

for the Period Ended 31 March 2019




Director: David Jennings
Registered office: Castle House
Castle Hill Avenue
Folkestone
Kent
CT20 2TQ
Company Registration Number: 06253782 (England and Wales)

Page 3

PIP TEAM LIMITED

Balance sheet

As at 31 March 2019


Notes
2019
£
2018
£
Fixed assets
Intangible assets: 3 25 25
Total fixed assets: 25 25
Current assets
Stocks: 0 0
Debtors: 252,484 609,273
Cash at bank and in hand: 51,751 3,298
Total current assets: 304,235 612,571
Prepayments and accrued income: 0 0
Creditors: amounts falling due within one year: ( 35,578 ) ( 66,659 )
Net current assets (liabilities): 268,657 545,912
Total assets less current liabilities: 268,682 545,937
Creditors: amounts falling due after more than one year: ( 0 ) ( 280,000 )
Provision for liabilities: ( 12,000 ) ( 0 )
Accruals and deferred income: ( 0 ) ( 0 )
Total net assets (liabilities): 256,682 265,937

The notes form part of these financial statements

Page 4

PIP TEAM LIMITED

Balance sheet continued

As at 31 March 2019


Notes
2019
£
2018
£
Capital and reserves
Called up share capital: 100 100
Profit and loss account: 256,582 265,837
Shareholders funds: 256,682 265,937

For the year ending 31 March 2019 the company was entitled to exemption 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.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A).

These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

This report was approved by the board of directors on 27 December 2019
And Signed On Behalf Of The Board By:

Name: David Jennings
Status: Director

The notes form part of these financial statements

Page 5

PIP TEAM LIMITED

Notes to the Financial Statements

for the Period Ended 31 March 2019

  • 1. Accounting policies

    Basis of measurement and preparation

    These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

    Turnover policy

    Turnover is recognised on client invoice. All outstanding WIP is invoiced in the final month of the financial year

    Tangible fixed assets depreciation policy

    Tangible assets are depreciated on a 5 year straight line basis unless their useful life is likely to shorter.

Page 6

PIP TEAM LIMITED

Notes to the Financial Statements

for the Period Ended 31 March 2019

2. Dividends


2019
£
2018
£
Dividends paid 60,000 35,000

Page 7

PIP TEAM LIMITED

Notes to the Financial Statements

for the Period Ended 31 March 2019

  • 3. Intangible assets

    Total
    Cost £
    At 01 April 2018 25
    Additions 0
    Disposals (0)
    Revaluations 0
    Transfers 0
    At 31 March 2019 25
    Amortisation
    Amortisation at 01 April 2018 0
    Charge for year 0
    On disposals (0)
    Other adjustments 0
    Amortisation at 31 March 2019 0
    Net book value
    Net book value at 31 March 2019 25
    Net book value at 31 March 2018 25

    Intangible assets is a 20% shareholding in Korten Limited a private limited company and client of PiP Team Limited. This shareholding is valued at cost.

Page 8

PIP TEAM LIMITED

Notes to the Financial Statements

for the Period Ended 31 March 2019

4.1. Loans to Directors

Name of director receiving advance or credit: David Jennings
Description of the transaction:
At year end there was a loan to David Jennings in the form of an overdrawn directors short term loan account. The amount of the overdrawn loan account was repaid in full in April 2019.
Balance at 01 April 2018 0
Advances or credits made: 11,515
Advances or credits repaid: 0
Balance at 31 March 2019 11,515

Page 9