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 2023

Period of accounts

Start date: 01 April 2022

End date: 31 March 2023

Page 1

PIP TEAM LIMITED

Contents of the Financial Statements

for the Period Ended 31 March 2023

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 2023




Director: David 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 2023

The directors present their report with the financial statements of the company for the period ended 31 March 2023

Principal Activities

Provision of management support services to small and medium sized businesses

Political and charitable donations

None

Company policy on the employment of disabled persons

PiP Team Limited employs staff on the basis of merit to carry out the role irrespective of physical disability or any other personal attribute.

Directors

The directors shown below have held office during the whole of the period from 01 April 2022 to 31 March 2023
David Jennings

This report was approved by the board of directors on 12 May 2023
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 2023


Notes
2023
£
2022
£
Gross Profit or (Loss) 50,937 40,798
Income from coronavirus (COVID-19) business support grants 0 0
Distribution Costs ( 0 ) ( 0 )
Administrative Expenses ( 50,975 ) ( 44,134 )
Operating Profit or (Loss) ( 38 ) ( 3,336 )
Interest Receivable and Similar Income 395 16,448
Interest Payable and Similar Charges ( 1,410 ) ( 282 )
Profit or (Loss) Before Tax ( 1,053 ) 12,830
Tax on Profit ( 500 ) ( 2,566 )
Profit or (Loss) for Period ( 1,553 ) 10,264

The notes form part of these financial statements

Page 5

PIP TEAM LIMITED

Balance sheet

As at 31 March 2023


Notes
2023
£
2022
£
Fixed assets
Intangible assets: 4 132,025 25
Tangible assets: 5 18,914 29,721
Total fixed assets: 150,939 29,746
Current assets
Stocks: 0 0
Debtors: 33,382 198,549
Cash at bank and in hand: 58,387 31,456
Total current assets: 91,769 230,005
Prepayments and accrued income: 0 0
Creditors: amounts falling due within one year: ( 0 ) ( 360 )
Net current assets (liabilities): 91,769 229,645
Total assets less current liabilities: 242,708 259,391
Creditors: amounts falling due after more than one year: ( 18 ) ( 10,153 )
Provision for liabilities: ( 14,785 ) ( 12,472 )
Accruals and deferred income: ( 0 ) ( 0 )
Total net assets (liabilities): 227,905 236,766

The notes form part of these financial statements

Page 6

PIP TEAM LIMITED

Balance sheet continued

As at 31 March 2023


Notes
2023
£
2022
£
Capital and reserves
Called up share capital: 100 100
Revaluation reserve: 6 0 0
Profit and loss account: 227,805 236,666
Shareholders funds: 227,905 236,766

For the year ending 31 March 2023 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 12 May 2023
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 2023

  • 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 recognised for all work completed at year end.

    Tangible fixed assets depreciation policy

    Straight line depreciation over 5 years

Page 8

PIP TEAM LIMITED

Notes to the Financial Statements

for the Period Ended 31 March 2023

  • 2. Employees


    2023
    2022
    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 2023

  • 3. Off balance sheet disclosure

    No

Page 10

PIP TEAM LIMITED

Notes to the Financial Statements

for the Period Ended 31 March 2023

  • 4. Intangible assets

    Total
    Cost £
    At 01 April 2022 25
    Additions 132,000
    Disposals (0)
    Revaluations 0
    Transfers 0
    At 31 March 2023 132,025
    Amortisation
    Charge for year -
    On disposals -
    Other adjustments -
    Amortisation at 31 March 2023 -
    Net book value
    Net book value at 31 March 2023 132,025
    Net book value at 31 March 2022 25

    Addition intangible assets relate to an investment of £132,000 in a new company formed for the purpose of the purchase of a single commercial property.

Page 11

PIP TEAM LIMITED

Notes to the Financial Statements

for the Period Ended 31 March 2023

5. Tangible Assets

Total
Cost £
At 01 April 2022 29,721
Additions 0
Disposals (0)
Revaluations 0
Transfers 0
At 31 March 2023 29,721
Depreciation
At 01 April 2022 0
Charge for year 10,807
On disposals -
Other adjustments -
At 31 March 2023 10,807
Net book value
At 31 March 2023 18,914
At 31 March 2022 29,721

Page 12

PIP TEAM LIMITED

Notes to the Financial Statements

for the Period Ended 31 March 2023

6. Revaluation reserve


2023
£
Balance at 01 April 2022 0
Surplus or deficit after revaluation 0
Balance at 31 March 2023 0

The company has no revaluation reserve

Page 13