The P Team Limited - Accounts to registrar (filleted) - small 18.1

REGISTERED NUMBER: 06531920 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2017

FOR

THE P TEAM LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

Chartered Accountants' Report

6

DIRECTORS:

L A R Paris

V Kirwan

L M Paris

SECRETARY:

L M Paris

REGISTERED OFFICE:

Russell House

140 High Street

Edgware

Middlesex

HA8 7LW

REGISTERED NUMBER:

06531920 (England and Wales)

ACCOUNTANTS:

The Paris Partnership LLP

Chartered Accountants

Russell House

140 High Street

Edgware

Middlesex

HA8 7LW

CURRENT ASSETS

Debtors

4

112,000

40,200

Cash at bank and in hand

97,438

158,606

209,438

198,806

CREDITORS

Amounts falling due within one year

5

(3,351

)

(3,767

)

NET CURRENT ASSETS

206,087

195,039

TOTAL ASSETS LESS CURRENT LIABILITIES

206,087

195,039

CAPITAL AND RESERVES

Called up share capital

6

100

100

Retained earnings

7

205,987

194,939

SHAREHOLDERS' FUNDS

206,087

195,039

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2017 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 Board of Directors on 25 June 2018 and were signed on its behalf by:

L A R Paris - Director

V Kirwan - Director

1.	STATUTORY INFORMATION

The P Team Limited 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.

The presentation currency of the financial statements is the Pound Sterling (£).

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.

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.

Basic financial assets

Basic financial assets, which include trade and other debtors and cash and bank balances, are initially measured

at transaction price including transaction and where material are subsequently measured at amortised cost using

the effective interest method, less any impairment.

Basic financial liabilities

Basic financial liabilities, including trade and other payables and loans from company undertakings that are

classified as debt are initially measured at transaction price unless the arrangement constitutes a financing

transaction, where the debt instrument is measured at the present value of the future payments discounted at

the market rate of interest .

Trade creditors are obligations to pay for goods or services that have been acquired that have been acquired in

the ordinary course of business from suppliers. Accounts payables are classified as current liabilities if a

payment is due within one year or less. If not, they are present as non current liabilities. Short term creditors are

initially recognised at transaction price and where material are subsequently measured at amortised cost using

the effective interest method

Cash and cash equivalents

Cash and cash equivalents include cash in hand, deposits held at call with banks, other short term liquid

investments with original maturities of three months or less.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 .

4.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Trade debtors

10,000

9,000

Other debtors

102,000

31,200

112,000

40,200

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Taxation and social security

2,984

3,674

Other creditors

367

93

3,351

3,767

6.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2017

2016

value:

£

£

100

Ordinary

£1

100

100

7.

RESERVES

Retained

earnings

£

At 1 October 2016

194,939

Profit for the year

11,048

At 30 September 2017

205,987

8.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 30 September 2017 and

30 September 2016:

2017

2016

£

£

L A R Paris

Balance outstanding at start of year

(93

)

(93

)

Amounts repaid

-

-

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

(93

)

(93

)

9.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is the directors.

10.	FIRST YEAR ADOPTION

FRS 102 (Section 1A) was adopted on 1 October 2016. The transition has resulted in the requirement for a

provision for deferred tax. Therefore the comparatives have been restated. The last Financial Statements date

reported under the previous framework was 30 September 2016.

The following reproduces the text of the report prepared for the directors in respect of the company's annual

unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file

a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and

the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the

financial statements of The P Team Limited for the year ended 30 September 2017 which comprise the Income

Statement, Balance Sheet and the related notes from the company's accounting records and from information and

explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of The P Team Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of The P Team Limited and state those matters that we have agreed to state to the Board of Directors of The P Team Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than The P Team Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that The P Team Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of The P Team Limited. You consider that The P Team Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of The P Team Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

The Paris Partnership LLP

Chartered Accountants

Russell House

140 High Street

Edgware

Middlesex

HA8 7LW

25 June 2018