Accounts filed on 31-07-2020

Accounts filed on 31-07-2020

YOUR TEAM PROPERTIES LIMITED - Company Information

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Registered number: 10866039
Your Team Properties Limited
ACCOUNTS
FOR THE YEAR ENDED 31 JULY 2020
Prepared By:
Willow Accounting & Consultancy
Chartered Certified Accountants
3a Springfield Road
Poole
Dorset
BH14 0LG
Your Team Properties Limited
ACCOUNTS
FOR THE YEAR ENDED 31 JULY 2020
DIRECTORS
Sam Dickie
REGISTERED OFFICE
3a Springfield Road
Ashley Cross
Poole
Dorset
BH14 0LG
COMPANY DETAILS
Private company limited by shares registered in EW - England and Wales, registered number 10866039
ACCOUNTANTS
Willow Accounting & Consultancy
Chartered Certified Accountants
3a Springfield Road
Poole
Dorset
BH14 0LG
Your Team Properties Limited
ACCOUNTS
FOR THEYEARENDED31 JULY 2020
CONTENTS
Page
Directors' Report-
Statement Of Comprehensive Income-
Balance Sheet3
Notes To The Accounts4
The following do not form part of the statutory financial statements:
Trading And Profit And Loss Account-
Profit And Loss Account Summaries-
Your Team Properties Limited
BALANCE SHEET AT 31 July 2020
20202019
Notes££
FIXED ASSETS
Tangible assets376,074330,290
CURRENT ASSETS
Debtors31,430-
Cash at bank and in hand84,82691
86,25691
CREDITORS: Amounts falling due within one year4161,751130,666
NET CURRENT LIABILITIES(75,495)(130,575)
TOTAL ASSETS LESS CURRENT LIABILITIES300,579199,715
CREDITORS: Amounts falling due after more than one year5280,275232,050
PROVISIONS FOR LIABILITIES AND CHARGES78,699-
NET ASSETS / (LIABILITIES)11,605(32,335)
CAPITAL AND RESERVES
Called up share capital811
Profit and loss account11,604(32,336)
SHAREHOLDERS' FUNDS11,605(32,335)
For the year ending 31 July 2020 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The directors have decided not to deliver to the registrar a copy of the company's profit and loss account.
Approved by the board on 24 May 2021 and signed on their behalf by
.............................
Sam Dickie
Director
Your Team Properties Limited
NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED 31 JULY 2020
1. ACCOUNTING POLICIES
1a. Basis Of Accounting
The accounts have been prepared under the historical cost convention.
The accounts have been prepared in accordance with FRS102 - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006 .
1b. Investment Properties
Investment properties are included in the financial statements at open market value. No depreciation is provided on such property in compliance with the Financial Reporting Standard for Smaller Entities. This departure from Companies Act requirements is necessary to show a true and fair view.
1c. Turnover
Turnover represents the rent receivable from investment properties, net of value added tax.
2. INVESTMENT PROPERTIES
Investment
PropertiesTotal
££
Fair value
At 1 August 2019330,290330,290
Revaluation45,78445,784
At 31 July 2020376,074376,074
The director has provided fair value estimates for investment properties as at 31 July 2020.
3. DEBTORS 20202019
££
Amounts falling due within one year
Other debtors1,280-
Prepayments150-
1,430-
Your Team Properties Limited
4. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
20202019
££
UK corporation tax521-
Directors current account152,218124,209
Bank loan (unsecured)1,775-
Accruals1,380600
Rent deposits5,8575,857
161,751130,666
5. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
20202019
££
Bank loan (unsecured) 48,225-
Mortgage232,050232,050
280,275232,050
The mortgage is secured on the investment property and is interest only. The principal is repayable in December 2042.
6. EMPLOYEES
20202019
No.No.
Average number of employees11
7. PROVISIONS FOR LIABILITIES 20202019
££
Deferred taxation8,699-
8,699-
Your Team Properties Limited
8. SHARE CAPITAL 20202019
££
Allotted, issued and fully paid:
1 Ordinary shares of £1 each11
11
9. OTHER FINANCIAL COMMITMENTS
At 31 July 2020 the company was committed to making the following payments under non-cancellable operating leases:
20202019
££
Operating Leases which expire:
Within two to five years28,800-