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Company Registration No. 06911502 (England and Wales)
Time In Time Out Media Limited Unaudited accounts for the year ended 31 May 2023
Time In Time Out Media Limited Unaudited accounts Contents
Page
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Time In Time Out Media Limited Statement of financial position as at 31 May 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Tangible assets
8,566 
9,123 
Current assets
Debtors
39,052 
111,047 
Cash at bank and in hand
207,999 
165,848 
247,051 
276,895 
Creditors: amounts falling due within one year
(205,812)
(201,513)
Net current assets
41,239 
75,382 
Total assets less current liabilities
49,805 
84,505 
Creditors: amounts falling due after more than one year
(19,578)
(30,000)
Provisions for liabilities
Deferred tax
(1,627)
(1,733)
Net assets
28,600 
52,772 
Capital and reserves
Called up share capital
4 
4 
Profit and loss account
28,596 
52,768 
Shareholders' funds
28,600 
52,772 
For the year ending 31 May 2023 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 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 and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 29 September 2023 and were signed on its behalf by
Mr S M Lee Director Company Registration No. 06911502
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Time In Time Out Media Limited Notes to the Accounts for the year ended 31 May 2023
1
Statutory information
Time In Time Out Media Limited is a private company, limited by shares, registered in England and Wales, registration number 06911502. The registered office is Barnsley Business & Innovation Centre, Innovation Way, Barnsley, South Yorkshire, S75 1JL.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Fixtures & fittings
15% Straight Line
Computer equipment
25% Straight Line
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.
Research and development
Expenditure on research and development is written off in the year in which it is incurred.
Deferred taxation
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.
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Time In Time Out Media Limited Notes to the Accounts for the year ended 31 May 2023
4
Tangible fixed assets
Plant & machinery 
£ 
Cost or valuation
At cost 
At 1 June 2022
25,570 
Additions
1,909 
At 31 May 2023
27,479 
Depreciation
At 1 June 2022
16,447 
Charge for the year
2,466 
At 31 May 2023
18,913 
Net book value
At 31 May 2023
8,566 
At 31 May 2022
9,123 
5
Debtors
2023 
2022 
£ 
£ 
Amounts falling due within one year
Trade debtors
38,630 
107,760 
Accrued income and prepayments
- 
100 
Other debtors
422 
3,187 
39,052 
111,047 
6
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
Bank loans and overdrafts
10,000 
9,714 
Trade creditors
99,477 
58,782 
Taxes and social security
93,935 
130,321 
Other creditors
2,400 
2,696 
205,812 
201,513 
7
Creditors: amounts falling due after more than one year
2023 
2022 
£ 
£ 
Bank loans
19,578 
30,000 
8
Average number of employees
During the year the average number of employees was 7 (2022: 9).
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