The P Team Limited - Limited company accounts 18.2
The P Team Limited - Limited company accounts 18.2
| REGISTERED NUMBER: |
| REPORT OF THE DIRECTORS AND |
| UNAUDITED FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 30 SEPTEMBER 2018 |
| FOR |
| THE P TEAM LIMITED |
| THE P TEAM LIMITED (REGISTERED NUMBER: 06531920) |
| CONTENTS OF THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 30 SEPTEMBER 2018 |
| Page |
| Company Information | 1 |
| Report of the Directors | 2 |
| Income Statement | 3 |
| Balance Sheet | 4 |
| Notes to the Financial Statements | 5 |
| THE P TEAM LIMITED |
| COMPANY INFORMATION |
| FOR THE YEAR ENDED 30 SEPTEMBER 2018 |
| DIRECTORS: |
| SECRETARY: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Chartered Accountants |
| Russell House |
| 140 High Street |
| Edgware |
| Middlesex |
| HA8 7LW |
| THE P TEAM LIMITED (REGISTERED NUMBER: 06531920) |
| REPORT OF THE DIRECTORS |
| FOR THE YEAR ENDED 30 SEPTEMBER 2018 |
| The directors present their report with the financial statements of the company for the year ended 30 September 2018. |
| CESSATION OF TRADING |
| The company ceased trading on 30 September 2018. |
| PRINCIPAL ACTIVITY |
| The principal activity of the company in the year under review was that of financial consultancy services. |
| DIRECTORS |
| The directors shown below have held office during the whole of the period from 1 October 2017 to the date of this report. |
| This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small |
| companies. |
| ON BEHALF OF THE BOARD: |
| THE P TEAM LIMITED (REGISTERED NUMBER: 06531920) |
| INCOME STATEMENT |
| FOR THE YEAR ENDED 30 SEPTEMBER 2018 |
| 2018 | 2017 |
| Notes | £ | £ |
| TURNOVER |
| Administrative expenses | ( |
) | ( |
) |
| OPERATING (LOSS)/PROFIT | ( |
) |
| Interest receivable and similar income |
| (LOSS)/PROFIT BEFORE TAXATION | ( |
) |
| Tax on (loss)/profit | 4 | ( |
) |
| (LOSS)/PROFIT FOR THE FINANCIAL YEAR | ( |
) |
| THE P TEAM LIMITED (REGISTERED NUMBER: 06531920) |
| BALANCE SHEET |
| 30 SEPTEMBER 2018 |
| 2018 | 2017 |
| Notes | £ | £ |
| CURRENT ASSETS |
| Debtors | 5 |
| Cash at bank and in hand |
| CREDITORS |
| Amounts falling due within one year | 6 | ( |
) | ( |
) |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CAPITAL AND RESERVES |
| Called up share capital | 7 |
| Retained earnings | 8 |
| SHAREHOLDERS' FUNDS |
| 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 were approved by the Board of Directors on |
| THE P TEAM LIMITED (REGISTERED NUMBER: 06531920) |
| NOTES TO THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 30 SEPTEMBER 2018 |
| 1. | STATUTORY INFORMATION |
| The P Team Limited is a |
| 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 |
| 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. |
| THE P TEAM LIMITED (REGISTERED NUMBER: 06531920) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 30 SEPTEMBER 2018 |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| 4. | TAXATION |
| Analysis of the tax (credit)/charge |
| The tax (credit)/charge on the loss for the year was as follows: |
| 2018 | 2017 |
| £ | £ |
| Current tax: |
| UK corporation tax |
| Under/Over Provision prior yea rs | (351 | ) | - |
| Tax on (loss)/profit | ( |
) |
| UK corporation tax was charged at 19%) in 2017. |
| 5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2018 | 2017 |
| £ | £ |
| Trade debtors |
| Other debtors |
| 6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2018 | 2017 |
| £ | £ |
| Taxation and social security |
| Other creditors |
| 7. | CALLED UP SHARE CAPITAL |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 2018 | 2017 |
| value: | £ | £ |
| Ordinary | £1 | 100 | 100 |
| 8. | RESERVES |
| Retained |
| earnings |
| £ |
| At 1 October 2017 |
| Deficit for the year | ( |
) |
| At 30 September 2018 |
| THE P TEAM LIMITED (REGISTERED NUMBER: 06531920) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 30 SEPTEMBER 2018 |
| 9. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
| The following advances and credits to a director subsisted during the years ended 30 September 2018 and |
| 30 September 2017: |
| 2018 | 2017 |
| £ | £ |
| Balance outstanding at start of year | ( |
) | ( |
) |
| Amounts advanced |
| Amounts repaid |
| Amounts written off | - | - |
| Amounts waived | - | - |
| Balance outstanding at end of year | ( |
) |
| 10. | ULTIMATE CONTROLLING PARTY |
| The ultimate controlling party is |