T.E.A.M.S (Lincoln) Ltd - Abbreviated accounts 16.3

REGISTERED NUMBER: 06730927

ABBREVIATED UNAUDITED ACCOUNTS FOR THE YEAR ENDED 31 OCTOBER 2016

FOR

T.E.A.M.S (LINCOLN) LTD

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTOR:

D Poole

REGISTERED OFFICE:

Custom Fitness

Unit M, Peregrine Mews

Dowding Road

Lincoln

Lincolnshire

LN3 4PH

REGISTERED NUMBER:

06730927

ACCOUNTANTS:

Russell Payne & Co Limited

Landmark House

1 Riseholme Road

Lincoln

Lincolnshire

LN1 3SN

FIXED ASSETS

Tangible assets

2

4,333

3,992

CURRENT ASSETS

Stocks

116

360

Debtors

458

Cash at bank

6,832

1,983

7,406

2,801

CREDITORS

Amounts falling due within one year

10,054

5,376

NET CURRENT LIABILITIES

(2,648

)

(2,575

)

TOTAL ASSETS LESS CURRENT
LIABILITIES

1,685

1,417

CREDITORS

Amounts falling due after more than one
year

-

(202

)

PROVISIONS FOR LIABILITIES

(866

)

(798

)

NET ASSETS

819

417

CAPITAL AND RESERVES

Called up share capital

3

1

Profit and loss account

818

416

SHAREHOLDERS' FUNDS

819

417

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2016 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of
each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections
394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial
statements, so far as applicable to the company.

The abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the director on 25 November 2016 and were signed by:

D Poole - Director

1.	ACCOUNTING POLICIES

Accounting convention

The financial statements have been prepared under the historical cost convention and in accordance with the

Financial Reporting Standard for Smaller Entities (effective January 2015).

Turnover

Turnover represents net invoiced sales of goods, excluding value added tax.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery etc

-

33% on cost, 25% on reducing balance and 15% on reducing balance

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow

moving items.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance

sheet date.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 November 2015

10,589

Additions

1,845

At 31 October 2016

12,434

DEPRECIATION

At 1 November 2015

6,597

Charge for year

1,504

At 31 October 2016

8,101

NET BOOK VALUE

At 31 October 2016

4,333

At 31 October 2015

3,992

3.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2016

2015

value:

£

1

Ordinary

£1

1

4.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 October 2016 and

31 October 2015:

2016

2015

£

D Poole

Balance outstanding at start of year

(3,009

)

(258

)

Amounts advanced

15,580

11,800

Amounts repaid

(19,432

)

(14,551

)

Balance outstanding at end of year

(6,861

)

(3,009

)