Accounts Submission

Accounts Submission

PIP TEAM LIMITED - Company Information

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PIP TEAM LIMITED

Company Registration Number:
06253782 (England and Wales)

Unaudited abridged accounts for the year ended 31 March 2021

Period of accounts

Start date: 01 April 2020

End date: 31 March 2021

Page 1

PIP TEAM LIMITED

Contents of the Financial Statements

for the Period Ended 31 March 2021

Company Information - 3
Report of the Directors - 4
Profit and Loss Account - 5
Balance sheet - 6
Additional notes - 8
Balance sheet notes - 11

Page 2

PIP TEAM LIMITED

Company Information

for the Period Ended 31 March 2021




Director: David Jennings
Secretary: Sarah Jennings
Registered office: Ca Suffit
Ca Suffit
8 Fern Mead
Cranleigh
Surrey
England
GU6 7GB
Company Registration Number: 06253782 (England and Wales)

Page 3

PIP TEAM LIMITED

Directors' Report Period Ended 31 March 2021

The directors present their report with the financial statements of the company for the period ended 31 March 2021

Principal Activities

Provision of consulting and management support services to small and medium sized companies.

Political and charitable donations

None

Company policy on the employment of disabled persons

We recruit and employ all staff on the basis of ability without any disadvantage to disabled applicants or staff members.

Directors

The directors shown below have held office during the whole of the period from 01 April 2020 to 31 March 2021
David Jennings

Secretary
Sarah Jennings

This report was approved by the board of directors on 28 December 2021
And Signed On Behalf Of The Board By:

Name: David Jennings
Status: Director

Page 4

PIP TEAM LIMITED

Profit and Loss Account

for the Period Ended 31 March 2021


Notes
2021
£
2020
£
Gross Profit or (Loss) 33,575 98,261
Income from coronavirus (COVID-19) business support grants 0 0
Distribution Costs ( 5,579 ) ( 1,146 )
Administrative Expenses ( 64,134 ) ( 51,115 )
Operating Profit or (Loss) ( 36,138 ) 46,000
Interest Receivable and Similar Income 10,468 10,826
Interest Payable and Similar Charges ( 0 ) ( 5,002 )
Profit or (Loss) Before Tax ( 25,670 ) 51,824
Tax on Profit ( 0 ) ( 6,698 )
Profit or (Loss) for Period ( 25,670 ) 45,126

The notes form part of these financial statements

Page 5

PIP TEAM LIMITED

Balance sheet

As at 31 March 2021


Notes
2021
£
2020
£
Fixed assets
Intangible assets: 4 25 25
Total fixed assets: 25 25
Current assets
Stocks: 0 0
Debtors: 209,259 179,982
Cash at bank and in hand: 35,902 95,425
Total current assets: 245,161 275,407
Prepayments and accrued income: 0 0
Creditors: amounts falling due within one year: ( 702 ) ( 1,827 )
Net current assets (liabilities): 244,459 273,580
Total assets less current liabilities: 244,484 273,605
Creditors: amounts falling due after more than one year: ( 0 ) ( 0 )
Provision for liabilities: ( 9,346 ) ( 10,797 )
Accruals and deferred income: ( 6,000 ) ( 6,000 )
Total net assets (liabilities): 229,138 256,808

The notes form part of these financial statements

Page 6

PIP TEAM LIMITED

Balance sheet continued

As at 31 March 2021


Notes
2021
£
2020
£
Capital and reserves
Called up share capital: 100 100
Profit and loss account: 229,038 256,708
Shareholders funds: 229,138 256,808

For the year ending 31 March 2021 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 28 December 2021
And Signed On Behalf Of The Board By:

Name: David Jennings
Status: Director

The notes form part of these financial statements

Page 7

PIP TEAM LIMITED

Notes to the Financial Statements

for the Period Ended 31 March 2021

  • 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 corresponds to all work completed in the period.

Page 8

PIP TEAM LIMITED

Notes to the Financial Statements

for the Period Ended 31 March 2021

  • 2. Employees


    2021
    2020
    Average number of employees during the period 1 1

Page 9

PIP TEAM LIMITED

Notes to the Financial Statements

for the Period Ended 31 March 2021

  • 3. Off balance sheet disclosure

    No

Page 10

PIP TEAM LIMITED

Notes to the Financial Statements

for the Period Ended 31 March 2021

  • 4. Intangible assets

    Total
    Cost £
    At 01 April 2020 25
    Additions 0
    Disposals (0)
    Revaluations 0
    Transfers 0
    At 31 March 2021 25
    Amortisation
    Amortisation at 01 April 2020 0
    Charge for year 0
    On disposals (0)
    Other adjustments 0
    Amortisation at 31 March 2021 0
    Net book value
    Net book value at 31 March 2021 25
    Net book value at 31 March 2020 25

    Shares in Korten Limited

Page 11

PIP TEAM LIMITED

Notes to the Financial Statements

for the Period Ended 31 March 2021

5.1. Loans to Directors

Name of director receiving advance or credit: David Jennings
Description of the transaction:
Assets include an overdrawn directors loan account that was paid off in full in April 2021
Balance at 01 April 2020 26,343
Advances or credits made: 35,455
Advances or credits repaid: 26,343
Balance at 31 March 2021 35,455

Page 12