INNOVATIVE TEAM SOLUTIONS LTD - Accounts

INNOVATIVE TEAM SOLUTIONS LTD - Accounts

INNOVATIVE TEAM SOLUTIONS LTD - Company Information

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Registered Number: 07791044
England and Wales

 

 

 

INNOVATIVE TEAM SOLUTIONS LTD


Abridged Accounts
 


Period of accounts

Start date: 01 October 2019

End date: 31 March 2021

INNOVATIVE TEAM SOLUTIONS LTD
Contents Page
For the period ended 31 March 2021
Accountant’s report
You consider that the company is exempt from an audit for the year ended 31 March 2021 . You have acknowledged, on the balance sheet, your responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. These responsibilities include preparing accounts that give a true and fair view of the state of affairs of the company at the end of the financial year and of its profit or loss for the financial year.
In accordance with your instructions, we have prepared the accounts which comprise the Profit and Loss Account, the Statement of Comprehensive Income, the Balance Sheet, the Statement of Changes in Equity and the related notes from the accounting records of the company and on the basis of information and explanations you have given to us.
We have not carried out an audit or any other review, and consequently we do not express any opinion on these accounts.
Oasis Accountants Limited
31 March 2021



....................................................
Oasis Accountants Limited
Building 3, Chiswick Park
566 Chiswick High Road
London
W4 5YA
10 June 2021
1
 
 		 Notes
 		 2021
£		   2019
£
Fixed assets      
Tangible fixed assets 0    64 
0    64 
Current assets      
Debtors: amounts falling due within one year 304    0 
Cash at bank and in hand 48,639    21,382 
48,943    21,382 
Creditors: amount falling due within one year (42,990)   (12,896)
Net current assets 5,953    8,486 
 
Total assets less current liabilities 5,953    8,550 
Net assets 5,953    8,550 
 

Capital and reserves 		     
Called up share capital 10    10 
Profit and loss account 5,943    8,540 
Shareholders funds 5,953    8,550 
 


For the period ended 31 March 2021 the company was entitled to exemption from audit under section 477 of the companies act 2006 relating to small companies.

Directors' responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the period in question in accordance with section 476.
  2. 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.
These financial statements 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 Part 15 of the Companies Act 2006. In accordance with Section 444 of the Companies Act 2006, the income statement has not been delivered to the Registrar of Companies.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with section 444(2A).
The financial statements were approved by the board of directors on 10 June 2021 and were signed on its behalf by:


--------------------------------
Manjunatha shivanandappa
Director
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General Information
INNOVATIVE TEAM SOLUTIONS LTD is a private company, limited by shares, registered in England and Wales, registration number 07791044, registration address 28-42 Olympic House, Clements Road, ILFORD, IG1 1BA

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 102 – The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared on the going concern basis and under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the company.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Computer Equipment 100 % Straight Line
2.

Average number of employees

Average number of employees during the period was 3 (2019 : 2).
3.

Tangible fixed assets

Cost or valuation Computer Equipment   Total
  £   £
At 01 October 2019 1,359    1,359 
Additions -    - 
Disposals -    - 
At 31 March 2021 1,359    1,359 
Depreciation
At 01 October 2019 1,295    1,295 
Charge for period 64    64 
On disposals -    - 
At 31 March 2021 1,359    1,359 
Net book values
Closing balance as at 31 March 2021 -    - 
Opening balance as at 01 October 2019 64    64 


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