T.e.a.m.s (Lincoln) Ltd - Accounts to registrar (filleted) - small 18.1

REGISTERED NUMBER: 06730927 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2017

FOR

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

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

D Poole

SECRETARY:

REGISTERED OFFICE:

Unit 5 & 7 Dean Road

Lincoln

Lincolnshire

LN2 4DR

REGISTERED NUMBER:

06730927 (England and Wales)

ACCOUNTANTS:

Smart Cloud Accountants Ltd

Office 24-25

Greetwell Place

2 Lime Kiln way

Lincoln

Lincolnshire

LN2 4US

FIXED ASSETS

Tangible assets

4

10,654

4,333

CURRENT ASSETS

Stocks

455

116

Debtors

5

-

458

Cash at bank

1,290

6,832

1,745

7,406

CREDITORS

Amounts falling due within one year

6

26,235

10,054

NET CURRENT LIABILITIES

(24,490

)

(2,648

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(13,836

)

1,685

PROVISIONS FOR LIABILITIES

7

2,024

866

NET (LIABILITIES)/ASSETS

(15,860

)

819

CAPITAL AND RESERVES

Called up share capital

8

1

1

Retained earnings

9

(15,861

)

818

SHAREHOLDERS' FUNDS

(15,860

)

819

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2017 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 financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director on 11 June 2018 and were signed by:

D Poole - Director

1.	STATUTORY INFORMATION

T.e.a.m.s (Lincoln) Ltd is a private company, limited by shares , registered in England and

Wales. The company's registered number and registered office address can be found on the

Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" 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 cost convention.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding

discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

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

Improvements to property

-

10% on reducing balance

Plant and machinery

-

25% on reducing balance

Fixtures and fittings

-

15% on reducing balance

Computer equipment

-

33% on cost

Stocks

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

for obsolete and slow moving items.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income

Statement, except to the extent that it relates to items recognised in other comprehensive

income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that

have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not

reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in

periods different from those in which they are recognised in financial statements. Deferred

tax is measured using tax rates and laws that have been enacted or substantively enacted

by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it

is probable that they will be recovered against the reversal of deferred tax liabilities or

other future taxable profits.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over

the period of the lease.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2016 - 1 ) .

4.	TANGIBLE FIXED ASSETS

Improvements

Fixtures

to

Plant and

and

Computer

property

machinery

fittings

equipment

Totals

£

£

£

£

£

COST

At 1 November 2016

-

7,602

1,683

3,149

12,434

Additions

8,183

-

-

-

8,183

At 31 October 2017

8,183

7,602

1,683

3,149

20,617

DEPRECIATION

At 1 November 2016

-

4,721

1,142

2,238

8,101

Charge for year

612

720

81

449

1,862

At 31 October 2017

612

5,441

1,223

2,687

9,963

NET BOOK VALUE

At 31 October 2017

7,571

2,161

460

462

10,654

At 31 October 2016

-

2,881

541

911

4,333

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31/10/17

31/10/16

£

£

Prepayments

-

458

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31/10/17

31/10/16

£

£

Trade creditors

1

1

Tax

-

2,282

Directors' current accounts

26,234

6,861

Accruals and deferred income

-

310

Accrued expenses

-

600

26,235

10,054

7.	PROVISIONS FOR LIABILITIES

31/10/17

31/10/16

£

£

Deferred tax

2,024

866

Deferred

tax

£

Balance at 1 November 2016

866

Charge to Income Statement during year

1,158

Balance at 31 October 2017

2,024

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31/10/17

31/10/16

value:

£

£

1

Ordinary

1

1

1

9.

RESERVES

Retained

earnings

£

At 1 November 2016

818

Deficit for the year

(16,679

)

At 31 October 2017

(15,861

)

10.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

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

31 October 2017 and 31 October 2016:

31/10/17

31/10/16

£

£

D Poole

Balance outstanding at start of year

(6,861

)

(3,009

)

Amounts advanced

(19,374

)

15,580

Amounts repaid

-

(19,432

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

(26,235

)

(6,861

)

11.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is D Poole.

Mr D Poole controls the company by virtue of his 100% ownership of the company's issued

shared capital.