Company Registration No. 10467897 (England and Wales)
Team Marvel Ltd
Unaudited accounts
for the year ended 30 November 2019
Team Marvel Ltd
Statement of financial position
as at 30 November 2019
Tangible assets
13,466
19,797
Cash at bank and in hand
9,631
4,268
Creditors: amounts falling due within one year
(372)
(1,238)
Net current assets
28,938
7,707
Total assets less current liabilities
42,404
27,504
Creditors: amounts falling due after more than one year
(46,509)
(18,289)
Net (liabilities)/assets
(4,105)
9,215
Called up share capital
1
1
Profit and loss account
(4,106)
9,214
Shareholders' funds
(4,105)
9,215
For the year ending 30 November 2019 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 director acknowledges his 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 and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 15 October 2020 and were signed on its behalf by
Mr D Wilks
Director
Company Registration No. 10467897
Team Marvel Ltd
Notes to the Accounts
for the year ended 30 November 2019
Team Marvel Ltd is a private company, limited by shares, registered in England and Wales, registration number 10467897. The registered office is The Brewhouse, Dissington Hall, Newcastle upon Tyne, Tyne and Wear, NE18 0AD.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
These financial statements for the year ended 30 November 2019 are the first financial statements that comply with FRS 102 Section 1A Small Entities. The date of transition is 1 December 2017.
The transition to FRS 102 Section 1A Small Entities has resulted in a small number of changes in accounting policies to those used previously.
The nature of these changes and their impact on opening equity and profit for the comparative period are explained in the notes below.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Computer equipment
25% straight line
The financial statements have been prepared on a going concern basis on the understanding that the director and shareholder will continue to financially support the company throughout this uncertain period.
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss.
Expenditure on research and development is written off in the year in which it is incurred. Identifiable development expenditure is capitalised to the extent that the technical, commercial and financial feasibility can be demonstrated.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. 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.
Team Marvel Ltd
Notes to the Accounts
for the year ended 30 November 2019
4
Tangible fixed assets
Computer equipment
At 30 November 2019
27,756
At 30 November 2019
14,290
At 30 November 2019
13,466
At 30 November 2018
19,797
Trade debtors
13,049
3,127
6
Creditors: amounts falling due within one year
2019
2018
Taxes and social security
(1,813)
398
7
Creditors: amounts falling due after more than one year
2019
2018
Other creditors
46,509
18,289
8
Average number of employees
During the year the average number of employees was 3 (2018: 3).
