Teendrive Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 06996537 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 March 2020

for

Teendrive Limited

Page

Company Information

1

Abridged Statement of Financial Position

2

Notes to the Financial Statements

4

DIRECTOR:

Mr C Ramshaw

REGISTERED OFFICE:

115 Chester Road

Sunderland

SR4 7HG

REGISTERED NUMBER:

06996537 (England and Wales)

ACCOUNTANTS:

Michael Adamson & Co

Chartered Certified Acc'ts

115 Chester Road

Sunderland

SR4 7HG

FIXED ASSETS

Property, plant and equipment

4

6,328

82

CURRENT ASSETS

Cash at bank and in hand

3,684

3,717

CREDITORS

Amounts falling due within one year

3,849

3,522

NET CURRENT (LIABILITIES)/ASSETS

(165

)

195

TOTAL ASSETS LESS CURRENT LIABILITIES

6,163

277

CREDITORS

Amounts falling due after more than one year

4,149

-

NET ASSETS

2,014

277

CAPITAL AND RESERVES

Called up share capital

1

1

Retained earnings

5

2,013

276

SHAREHOLDERS' FUNDS

2,014

277

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2020 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 applicable to companies subject to the small companies regime.

All the members have consented to the preparation of an abridged Statement of Financial Position for the year ended 31 March 2020 in accordance with Section 444(2A) of the Companies Act 2006.

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 and authorised for issue on 22 September 2020 and were signed by:

Mr C Ramshaw - Director

1.	STATUTORY INFORMATION

Teendrive 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.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Revenue 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.

Fixtures and fittings

-

20% on reducing balance

Motor vehicles

-

25% on reducing balance

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 statement of financial position date.

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.

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 (2019 - 1 ) .

4.	PROPERTY, PLANT AND EQUIPMENT

Totals

£

COST

At 1 April 2019

675

Additions

8,349

At 31 March 2020

9,024

DEPRECIATION

At 1 April 2019

593

Charge for year

2,103

At 31 March 2020

2,696

NET BOOK VALUE

At 31 March 2020

6,328

At 31 March 2019

82

5.

RESERVES

Retained

earnings

£

At 1 April 2019

276

Profit for the year

6,737

Dividends

(5,000

)

At 31 March 2020

2,013

6.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

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

31 March 2020 and 31 March 2019:

31.3.20

31.3.19

£

£

Mr C Ramshaw

Balance outstanding at start of year

347

73

Amounts advanced

72

274

Amounts repaid

-

-

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

419

347

7.	RELATED PARTY DISCLOSURES

During the year, total dividends of £5,000 were paid to the director .