Company Registration No. 09363640 (England and Wales)
T1 Asset Management Limited
Unaudited accounts
for the year ended 31 March 2022
T1 Asset Management Limited
Unaudited accounts
Contents
T1 Asset Management Limited
Company Information
for the year ended 31 March 2022
Directors
R Thompson
V Thompson
Company Number
09363640 (England and Wales)
Registered Office
37 SPRING LANE
PANNAL
HARROGATE
NORTH YORKSHIRE
HG3 1NP
ENGLAND
Accountants
Sleek Accounting Ltd
107 Kirkgate
Leeds
West Yorkshire
LS1 6DP
T1 Asset Management Limited
Statement of financial position
as at 31 March 2022
Tangible assets
49,967
1,441
Cash at bank and in hand
45,561
75,965
Creditors: amounts falling due within one year
(173,676)
(134,427)
Net current assets
52,366
87,977
Total assets less current liabilities
102,333
89,418
Creditors: amounts falling due after more than one year
(30,634)
(40,625)
Called up share capital
70
70
Profit and loss account
71,629
48,723
Shareholders' funds
71,699
48,793
For the year ending 31 March 2022 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 directors acknowledge their 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 of Directors and authorised for issue on 17 October 2022 and were signed on its behalf by
R Thompson
Director
Company Registration No. 09363640
T1 Asset Management Limited
Notes to the Accounts
for the year ended 31 March 2022
T1 Asset Management Limited is a private company, limited by shares, registered in England and Wales, registration number 09363640. The registered office is 37 SPRING LANE, PANNAL, HARROGATE, NORTH YORKSHIRE, HG3 1NP, ENGLAND.
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.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
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.
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.
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:
Plant & machinery
20% straight line
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation.
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
T1 Asset Management Limited
Notes to the Accounts
for the year ended 31 March 2022
4
Intangible fixed assets
Goodwill
5
Tangible fixed assets
Plant & machinery
Motor vehicles
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At 1 April 2021
4,115
-
2,261
6,376
Additions
-
51,035
-
51,035
At 31 March 2022
4,115
51,035
2,261
57,411
At 1 April 2021
3,827
-
1,108
4,935
Charge for the year
83
1,701
725
2,509
At 31 March 2022
3,910
1,701
1,833
7,444
At 31 March 2022
205
49,334
428
49,967
At 31 March 2021
288
-
1,153
1,441
Amounts falling due within one year
Amounts due from group undertakings etc.
178,554
143,392
Accrued income and prepayments
1,027
1,247
7
Creditors: amounts falling due within one year
2022
2021
Bank loans and overdrafts
9,750
8,125
Taxes and social security
9,571
22,936
Loans from directors
142,580
92,347
T1 Asset Management Limited
Notes to the Accounts
for the year ended 31 March 2022
8
Creditors: amounts falling due after more than one year
2022
2021
Allotted, called up and fully paid:
70 Ordinary shares of £1 each
70
70
10
Transactions with related parties
Woodspring Property Limited:
The company is related to Woodspring Property Limited by the virtue of a common director. During the period, the net transfers between the two companies were £1,176 paid on behalf of Woodspring Property Limited (2021: £877). The amount outstanding from Woodspring Property Limited at the Balance Sheet date was £4,568 (2021: £3,392).
Noontyde Limited:
The company is related to Noontyde Limited by the virtue of a common director. During the period, the net transfers between the two companies were £33,986 paid on behalf of Noontyde Limited (2021: £140,000). The amount outstanding from Noontyde Limited at the Balance Sheet date was £173,986 (2021: £140,000).
11
Average number of employees
During the year the average number of employees was 1 (2021: 1).
