Company Registration No. 09363640 (England and Wales)
T1 Asset Management Limited
Unaudited accounts
for the year ended 31 March 2021
T1 Asset Management Limited
Unaudited accounts
Contents
T1 Asset Management Limited
Company Information
for the year ended 31 March 2021
Directors
R Thompson
V Thompson
Company Number
09363640 (England and Wales)
Registered Office
37 SPRING LANE
PANNAL
HARROGATE
NORTH YORKSHIRE
HG3 1NP
ENGLAND
Accountants
Accounts Lab Ltd
The Leeming Building
Vicar Lane
Leeds
West Yorkshire
LS2 7JF
T1 Asset Management Limited
Statement of financial position
as at 31 March 2021
Tangible assets
1,441
1,549
Cash at bank and in hand
75,965
56,378
Creditors: amounts falling due within one year
(134,427)
(54,670)
Net current assets
87,977
13,223
Total assets less current liabilities
89,418
14,772
Creditors: amounts falling due after more than one year
(40,625)
-
Called up share capital
70
70
Profit and loss account
48,723
14,702
Shareholders' funds
48,793
14,772
For the year ending 31 March 2021 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 23 August 2021 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 2021
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 2021
4
Intangible fixed assets
Goodwill
5
Tangible fixed assets
Plant & machinery
Computer equipment
Total
Cost or valuation
At cost
At cost
At 1 April 2020
4,115
1,663
5,778
At 31 March 2021
4,115
2,261
6,376
At 1 April 2020
3,719
510
4,229
Charge for the year
108
598
706
At 31 March 2021
3,827
1,108
4,935
At 31 March 2021
288
1,153
1,441
At 31 March 2020
396
1,153
1,549
6
Debtors: amounts falling due within one year
2021
2020
Amounts due from group undertakings etc.
143,392
2,515
Accrued income and prepayments
1,247
-
7
Creditors: amounts falling due within one year
2021
2020
Bank loans and overdrafts
8,125
-
Taxes and social security
22,936
18,482
Loans from directors
92,347
31,908
T1 Asset Management Limited
Notes to the Accounts
for the year ended 31 March 2021
8
Creditors: amounts falling due after more than one year
2021
2020
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 £877 paid on behalf of Woodspring Property Limited (2019: £2,220). The amount outstanding from Woodspring Property Limited at the Balance Sheet date was £3,392 (2020: £2,515).
Holly Park Mills Limited:
The company is related to Holly Park Mills Limited by the virtue of a common director. During the period, the net transfers between the two companies were £140,000 paid on behalf of Holly Park Mills Limited (2020: £nil). The amount outstanding from Holly Park Mills Limited at the Balance Sheet date was £140,000 (2020: £nil).
11
Average number of employees
During the year the average number of employees was 1 (2020: 2).
