Registered Number
:
02094967
|
For the year ended 30 April 2018
England and Wales
Unaudited Financial Statements
For the year ended 30 April 2018
Team Global Limited
Contents Page
1
Statement of Financial Position
2 to 4
Notes to the Financial Statements
Team Global Limited
Statement of Financial Position
2017
2018
Property
,
plant and equipment
|
40,056
14,166
2
40,056
14,166
Trade and other receivables
|
979,763
1,129,106
3
628,744
Cash and cash equivalents
|
696,315
1,825,421
1,608,507
Trade and other payables
:
amounts falling due within one year
|
(722,751)
(874,732)
4
885,756
950,689
Net current assets
Total assets less current liabilities
|
990,745
899,922
(71,577)
(65,583)
Provisions for liabilities
|
919,168
Net assets
834,339
50,000
50,000
869,168
784,339
919,168
834,339
Shareholders' funds
For the year ended 30 April 2018 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 30 April 2018 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.
|
Mr Simon Neil Crooks Director
|
These financial statements were approved and authorised for issue by the Board on 22 June 2018 and were signed by:
|
The notes form part of these financial statements
|
1 of 4
For the year ended 30 April 2018
Team Global Limited
Notes to the Financial Statements
Statutory Information
Team Global Limited is a private limited company
,
limited by shares
,
domiciled in England and Wales
,
registration number
|
02094967
.
|
Unit 4
Britannia Industrial Estate
Poyle Road, Colnbrook
Berkshire
SL3 0BH
The presentation currency is £ sterling
.
|
The Financial Statements are rounded to the nearest £
.
|
These Financial Statements have been prepared in compliance with Section
1
A of FRS
102
.
|
Basis of preparing the financial statements
These financial statements have been prepared in accordance with the provisions of Section
1
A 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. Turnover is recognised when the consignment is shipped.
|
Property, plant and equipment
Tangible fixed assets, 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:
|
Buildings
Computer equipment
Motor vehicles
Fixtures and fittings
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.
|
Foreign currencies
Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the rate of exchange ruling at the balance sheet date. Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. All foreign exchange differences are included to the profit and loss account.
|
Hire purchase and leasing commitments
Rentals payable under operating leases are charged against income on a straight line basis over the lease term. The finance element of the rental payment is charged to the profit and loss account on a straight line basis.
|
Pension costs and other post-retirement benefits
The company makes contrbutions into personal pension plans for the benefit of the director and employees. The arrangement is on a defined contribution basis; contributions are made to a separate entity and once the contributions have been paid the company has no further liability. The contributions are recognised as an expense in the Statement of Comprehensive Income when they fall due.
|
2 of 4
For the year ended 30 April 2018
Team Global Limited
Notes to the Financial Statements Continued
Financial instruments
Financial instruments are classified by the directors as basic or advanced following the conditions in FRS
102
Section
11
.
Basic
|
financial instruments are recognised at amortised cost using the effective interest method
.
There are no advanced financial
|
instruments
.
|
Provision for lease dilapidation costs
The company recognises a provision for lease dilapidation costs where it has a legal obligation to make a payment to a third
|
party
.
The amount included in the financial statements is the best estimate of the present value of the expenditure required under
|
the terms of the company
'
s property lease
.
|
2
.
Property
,
plant and equipment
|
Motor vehicles
Buildings
200,999
30,199
108,275
14,750
47,775
37,787
9,837
-
27,950
-
42,700
108,275
40,036
238,786
47,775
Provision for depreciation and impairment
|
186,833
24,889
102,035
12,134
47,775
Charge for year
11,897
5,260
1,200
5,437
-
198,730
30,149
103,235
17,571
47,775
-
25,129
5,040
9,887
40,056
-
2,616
6,240
5,310
14,166
3
.
Trade and other receivables
|
2017
2018
1,073,882
928,739
55,224
51,024
979,763
1,129,106
The debtors above include the following amounts falling due after more than one year
:
|
3,941
3,941
3 of 4
For the year ended 30 April 2018
Team Global Limited
Notes to the Financial Statements Continued
4
.
Trade and other payables
:
amounts falling due within one year
|
2017
2018
578,417
498,172
Taxation and social security
|
117,402
101,149
178,913
123,430
874,732
722,751
5
.
Guarantees and other financial commitments
|
Guarantees and contingent assets and liabilities
|
The company has issued a guarantee in respect of a customs duty deferment of £
16
,
000
and the company
'
s bankers have issued
|
a letter of guarantee in respect of a supplier trading account up to a value of £
20
,
000
.
In the opinion of the director these
|
amounts would be allowable against profits chargeable to Corporation Tax if the company were called upon to meet the
|
guarantees
.
|
At
30
April
2018
the company had annual commitments under non
-
cancellable operating leases as set out below
:
|
2017
2018
Operating leases which expire
:
|
3,813
108,717
16,583
426,461
430,274
125,300
6
.
Average number of persons employed
|
During the year the average number of employees was 46 (2017 : 46)
4 of 4