TEAM IT UK LTD,Ltd - AccountsLtd - Accounts

TEAM IT UK LTD,Ltd - AccountsLtd - Accounts

TEAM IT UK LTD - Company Information

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2016-08-01 07319400 2017-07-31 07319400 2016-08-01 2017-07-31 07319400 2016-07-31 07319400 2015-08-01 2016-07-31 07319400 uk-core:WithinOneYear 2016-07-31 07319400 uk-core:WithinOneYear 2017-07-31 07319400 uk-core:AfterOneYear 2016-07-31 07319400 uk-core:AfterOneYear 2017-07-31 07319400 uk-core:ShareCapital 2017-07-31 07319400 uk-core:ShareCapital 2016-07-31 07319400 uk-core:RetainedEarningsAccumulatedLosses 2017-07-31 07319400 uk-core:RetainedEarningsAccumulatedLosses 2016-07-31 07319400 uk-bus:Director1 2016-08-01 2017-07-31 07319400 uk-core:ToolsEquipment 2016-08-01 2017-07-31 07319400 uk-core:FurnitureFittings 2016-08-01 2017-07-31 07319400 uk-core:ToolsEquipment 2016-07-31 07319400 uk-core:FurnitureFittings 2016-07-31 07319400 uk-core:FurnitureFittings 2017-07-31 07319400 uk-core:ToolsEquipment 2017-07-31 iso4217:GBP 07319400 uk-bus:AuditExemptWithAccountantsReport 2016-08-01 2017-07-31 07319400 uk-bus:FRS102 2016-08-01 2017-07-31 07319400 uk-bus:FullAccounts 2016-08-01 2017-07-31 07319400 uk-bus:PrivateLimitedCompanyLtd 2016-08-01 2017-07-31
TEAM IT UK LTD
Registered Number:07319400
For the year ended 31 July 2017
England and Wales
Unaudited Financial Statements
2
For the year ended 31 July 2017
TEAM IT UK LTD
Contents Page
1
Statement of Financial Position
2 to 4
Notes to the Financial Statements
3
As at 31 July 2017
TEAM IT UK LTD
Statement of Financial Position
Registered Number :
07319400
£
£
2016
2017
Notes
Fixed assets
Property, plant and equipment
250
313
2
250
313
Current assets
Inventories
10,018
12,600
3
Trade and other receivables
1,076
666
4
3,568
Cash and cash equivalents
7,611
20,877
14,662
Trade and other payables: amounts falling due within one
year
(3,590)
(9,742)
5
11,072
11,135
Net current assets
Total assets less current liabilities
11,385
11,385
Trade and other payables: amounts falling due after more
than one year
(6,753)
(6,554)
6
4,831
Net assets
4,632
Capital and reserves
Called up share capital
1
1
Retained earnings
4,830
4,631
4,831
4,632
Shareholders' funds
For the year ended 31 July 2017 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 of its financial statements for the year ended 31 July 2017 in accordance with Section 476 of the Companies Act 2006
The director acknowledges his responsibilities for:a) ensuring that the company keeps proper 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 Section
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.
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.
The financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.
SULTAN RAJA Director
These financial statements were approved and authorised for issue by the Board on 16 April 2018 and were signed by:
The notes form part of these financial statements
1 of 4
4
For the year ended 31 July 2017
TEAM IT UK LTD
Notes to the Financial Statements
Statutory Information
TEAM IT UK LTD is a private limited company, limited by shares, domiciled in England and Wales, registration number
07319400.
Registered address:
SUIT G03, UNIT 4, TRIANGLE CENTRE
399 UXBRIDGE ROAD
SOUTHALL
UB1 3EJ
The presentation currency is £ sterling.
1. Accounting policies
Basis of preparing the financial statements
These financial statements have been prepared in accordance with the provisions of Section 1A of Financial
Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the
Companies Act 2006. The financial statements have been prepared under the historical costs convention as
modified by the revaluation of certain assets.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax or other similar sales taxes.
Property, plant and equipment
Property, plant and equipment, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
20 Reducing balance
Computer equipment
20 Reducing balance
Fixtures and fittings
Inventories
Inventories are value at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.
Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straightline basis over the period of the lease.
2 of 4
5
For the year ended 31 July 2017
TEAM IT UK LTD
Notes to the Financial Statements Continued
2. Property, plant and equipment
Total
Computer
equipment
Fixtures and
fittings
£
£
£
Cost or
valuation
At 01 August 2016
945
650
295
At 31 July 2017
295
650
945
Provision for depreciation and impairment
At 01 August 2016
632
434
198
Charge for year
63
44
19
At 31 July 2017
695
478
217
At 31 July 2017
Net book value
78
172
250
At 31 July 2016
97
216
313
3. Inventories
2016
2017
£
£
Stocks
12,600
10,018
4. Trade and other receivables
2016
2017
£
£
Trade debtors
366
776
Other debtors
300
300
1,076
666
5. Trade and other payables: amounts falling due within one year
2016
2017
£
£
Trade creditors
(1)
(1)
Taxation and social security
657
480
Other creditors
9,086
3,111
9,742
3,590
3 of 4
6
For the year ended 31 July 2017
TEAM IT UK LTD
Notes to the Financial Statements Continued
6. Trade and other payables: amounts falling due after more than one year
2016
2017
£
£
Other creditors
6,554
6,753
4 of 4