Company Registration No. 06011375 (England and Wales)
TEAMULTRA LIMITED
ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 MARCH 2016
TEAMULTRA LIMITED
CONTENTS
Page
Abbreviated balance sheet
1
Notes to the abbreviated accounts
2 - 3
TEAMULTRA LIMITED
ABBREVIATED BALANCE SHEET
AS AT
31 MARCH 2016
31 March 2016
- 1 -
2016
2015
Notes
£
£
£
£
Fixed assets
Tangible assets
2
28,993
20,217
Current assets
Debtors
1,468,445
1,203,398
Cash at bank and in hand
1,074,826
492,686
2,543,271
1,696,084
Creditors: amounts falling due within one year
(1,778,382)
(1,042,655)
Net current assets
764,889
653,429
Total assets less current liabilities
793,882
673,646
Provisions for liabilities
(5,800)
(3,952)
788,082
669,694
Capital and reserves
Called up share capital
3
323
316
Profit and loss account
787,759
669,378
Shareholders' funds
788,082
669,694
For the financial year ended 31 March 2016 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
-
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
-
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.
Approved by the Board for issue on 8 July 2016
Mr M Beale
Director
Company Registration No. 06011375
TEAMULTRA LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 MARCH 2016
- 2 -
1
Accounting policies
1.1
Accounting convention
The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).
1.2
Compliance with accounting standards
The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied consistently (except as otherwise stated).
1.3
Turnover
Turnover represents amounts receivable for licence fees and services rendered net of VAT.licence fees and services rendered net of VAT.
1.4
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:
Fixtures, fittings & equipment
25% - 50% straight line
1.5
Revenue recognition
Revenue invoiced to clients is released to the profit and loss account over the period of the service contract or for which a licence is granted. Income invoiced in advance is reflected in other creditors.
1.6
Pensions
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are charged to the profit and loss account in the year they are payable.
1.7
Deferred taxation
Deferred taxation is provided in full in respect of taxation deferred by timing differences between the treatment of certain items for taxation and accounting purposes. The deferred tax balance has not been discounted.
1.8
Foreign currency translation
Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the rates 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 differences are taken to profit and loss account.
TEAMULTRA LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2016
- 3 -
2
Fixed assets
Tangible assets
£
Cost
At 1 April 2015
53,129
Additions
19,781
Disposals
(19,594)
At 31 March 2016
53,316
Depreciation
At 1 April 2015
32,912
On disposals
(21,220)
Charge for the year
12,631
At 31 March 2016
24,323
Net book value
At 31 March 2016
28,993
At 31 March 2015
20,217
3
Share capital
2016
2015
£
£
Allotted, called up and fully paid
3,230,000 Ordinary shares of 0.01p each
323
316
During the year 65,000 ordinary shares of £0.0001 each were allotted under the Deferred Share Purchase Plan at £0.22 per share. £0.0001 was has been called and paid to date. The share premium payable will be recognised when it has been called.
Of the Ordinary shares in issue:
3,000,000 have been issued at par to date, were called up and are fully paid; and
225,000 shares have been issued under the Deferred Share Purchase Plan at various prices totalling £37,300, of which £23 has been called up and paid to date.