2022-07-012023-06-302023-06-30false11429717ITS TIME FOR WATCH LTD2023-09-1147770iso4217:GBPxbrli:pure114297172022-07-01114297172023-06-30114297172022-07-012023-06-30114297172021-07-01114297172022-06-30114297172021-07-012022-06-3011429717bus:SmallEntities2022-07-012023-06-3011429717bus:AuditExempt-NoAccountantsReport2022-07-012023-06-3011429717bus:AbridgedAccounts2022-07-012023-06-3011429717bus:PrivateLimitedCompanyLtd2022-07-012023-06-3011429717core:WithinOneYear2023-06-3011429717core:AfterOneYear2023-06-3011429717core:WithinOneYear2022-06-3011429717core:AfterOneYear2022-06-3011429717core:ShareCapital2023-06-3011429717core:SharePremium2023-06-3011429717core:RevaluationReserve2023-06-3011429717core:OtherReservesSubtotal2023-06-3011429717core:RetainedEarningsAccumulatedLosses2023-06-3011429717core:ShareCapital2022-06-3011429717core:SharePremium2022-06-3011429717core:RevaluationReserve2022-06-3011429717core:OtherReservesSubtotal2022-06-3011429717core:RetainedEarningsAccumulatedLosses2022-06-3011429717core:LandBuildings2023-06-3011429717core:PlantMachinery2023-06-3011429717core:Vehicles2023-06-3011429717core:FurnitureFittings2023-06-3011429717core:OfficeEquipment2023-06-3011429717core:NetGoodwill2023-06-3011429717core:IntangibleAssetsOtherThanGoodwill2023-06-3011429717core:ListedExchangeTraded2023-06-3011429717core:UnlistedNon-exchangeTraded2023-06-3011429717core:LandBuildings2022-06-3011429717core:PlantMachinery2022-06-3011429717core:Vehicles2022-06-3011429717core:FurnitureFittings2022-06-3011429717core:OfficeEquipment2022-06-3011429717core:NetGoodwill2022-06-3011429717core:IntangibleAssetsOtherThanGoodwill2022-06-3011429717core:ListedExchangeTraded2022-06-3011429717core:UnlistedNon-exchangeTraded2022-06-3011429717core:LandBuildings2022-07-012023-06-3011429717core:PlantMachinery2022-07-012023-06-3011429717core:Vehicles2022-07-012023-06-3011429717core:FurnitureFittings2022-07-012023-06-3011429717core:OfficeEquipment2022-07-012023-06-3011429717core:NetGoodwill2022-07-012023-06-3011429717core:IntangibleAssetsOtherThanGoodwill2022-07-012023-06-3011429717core:ListedExchangeTraded2022-07-012023-06-3011429717core:UnlistedNon-exchangeTraded2022-07-012023-06-3011429717core:MoreThanFiveYears2022-07-012023-06-3011429717core:Non-currentFinancialInstruments2023-06-3011429717core:Non-currentFinancialInstruments2022-06-3011429717dpl:CostSales2022-07-012023-06-3011429717dpl:DistributionCosts2022-07-012023-06-3011429717dpl:AdministrativeExpenses2022-07-012023-06-3011429717core:LandBuildings2022-07-012023-06-3011429717core:PlantMachinery2022-07-012023-06-3011429717core:Vehicles2022-07-012023-06-3011429717core:FurnitureFittings2022-07-012023-06-3011429717core:OfficeEquipment2022-07-012023-06-3011429717core:NetGoodwill2022-07-012023-06-3011429717core:IntangibleAssetsOtherThanGoodwill2022-07-012023-06-3011429717dpl:GroupUndertakings2022-07-012023-06-3011429717dpl:ParticipatingInterests2022-07-012023-06-3011429717dpl:GroupUndertakingscore:ListedExchangeTraded2022-07-012023-06-3011429717core:ListedExchangeTraded2022-07-012023-06-3011429717dpl:GroupUndertakingscore:UnlistedNon-exchangeTraded2022-07-012023-06-3011429717core:UnlistedNon-exchangeTraded2022-07-012023-06-3011429717dpl:CostSales2021-07-012022-06-3011429717dpl:DistributionCosts2021-07-012022-06-3011429717dpl:AdministrativeExpenses2021-07-012022-06-3011429717core:LandBuildings2021-07-012022-06-3011429717core:PlantMachinery2021-07-012022-06-3011429717core:Vehicles2021-07-012022-06-3011429717core:FurnitureFittings2021-07-012022-06-3011429717core:OfficeEquipment2021-07-012022-06-3011429717core:NetGoodwill2021-07-012022-06-3011429717core:IntangibleAssetsOtherThanGoodwill2021-07-012022-06-3011429717dpl:GroupUndertakings2021-07-012022-06-3011429717dpl:ParticipatingInterests2021-07-012022-06-3011429717dpl:GroupUndertakingscore:ListedExchangeTraded2021-07-012022-06-3011429717core:ListedExchangeTraded2021-07-012022-06-3011429717dpl:GroupUndertakingscore:UnlistedNon-exchangeTraded2021-07-012022-06-3011429717core:UnlistedNon-exchangeTraded2021-07-012022-06-3011429717core:NetGoodwill2023-06-3011429717core:IntangibleAssetsOtherThanGoodwill2023-06-3011429717core:LandBuildings2023-06-3011429717core:PlantMachinery2023-06-3011429717core:Vehicles2023-06-3011429717core:FurnitureFittings2023-06-3011429717core:OfficeEquipment2023-06-3011429717core:AfterOneYear2023-06-3011429717core:WithinOneYear2023-06-3011429717core:ListedExchangeTraded2023-06-3011429717core:UnlistedNon-exchangeTraded2023-06-3011429717core:ShareCapital2023-06-3011429717core:SharePremium2023-06-3011429717core:RevaluationReserve2023-06-3011429717core:OtherReservesSubtotal2023-06-3011429717core:RetainedEarningsAccumulatedLosses2023-06-3011429717core:NetGoodwill2022-06-3011429717core:IntangibleAssetsOtherThanGoodwill2022-06-3011429717core:LandBuildings2022-06-3011429717core:PlantMachinery2022-06-3011429717core:Vehicles2022-06-3011429717core:FurnitureFittings2022-06-3011429717core:OfficeEquipment2022-06-3011429717core:AfterOneYear2022-06-3011429717core:WithinOneYear2022-06-3011429717core:ListedExchangeTraded2022-06-3011429717core:UnlistedNon-exchangeTraded2022-06-3011429717core:ShareCapital2022-06-3011429717core:SharePremium2022-06-3011429717core:RevaluationReserve2022-06-3011429717core:OtherReservesSubtotal2022-06-3011429717core:RetainedEarningsAccumulatedLosses2022-06-3011429717core:NetGoodwill2021-07-0111429717core:IntangibleAssetsOtherThanGoodwill2021-07-0111429717core:LandBuildings2021-07-0111429717core:PlantMachinery2021-07-0111429717core:Vehicles2021-07-0111429717core:FurnitureFittings2021-07-0111429717core:OfficeEquipment2021-07-0111429717core:AfterOneYear2021-07-0111429717core:WithinOneYear2021-07-0111429717core:ListedExchangeTraded2021-07-0111429717core:UnlistedNon-exchangeTraded2021-07-0111429717core:ShareCapital2021-07-0111429717core:SharePremium2021-07-0111429717core:RevaluationReserve2021-07-0111429717core:OtherReservesSubtotal2021-07-0111429717core:RetainedEarningsAccumulatedLosses2021-07-0111429717core:AfterOneYear2022-07-012023-06-3011429717core:WithinOneYear2022-07-012023-06-3011429717core:Non-currentFinancialInstrumentscore:CostValuation2022-07-012023-06-3011429717core:Non-currentFinancialInstrumentscore:AdditionsToInvestments2022-07-012023-06-3011429717core:Non-currentFinancialInstrumentscore:RevaluationsIncreaseDecreaseInInvestments2022-07-012023-06-3011429717core:Non-currentFinancialInstrumentscore:DisposalsDecreaseInInvestments2022-07-012023-06-3011429717core:Non-currentFinancialInstrumentscore:ProvidedReleasedInPeriodProvisionsForImpairmentInvestments2022-07-012023-06-3011429717core:Non-currentFinancialInstrumentscore:ImpairmentLossReversalProvisionsForImpairmentInvestments2022-07-012023-06-3011429717core:Non-currentFinancialInstrumentscore:AcquisitionsIncreaseInProvisionsForImpairmentInvestments2022-07-012023-06-3011429717core:Non-currentFinancialInstrumentscore:DisposalsDecreaseInProvisionsForImpairmentInvestments2022-07-012023-06-3011429717core:Non-currentFinancialInstrumentscore:OtherIncreaseDecreaseInProvisionsForImpairmentInvestments2022-07-012023-06-3011429717core:Non-currentFinancialInstrumentscore:CostValuation2023-06-3011429717core:Non-currentFinancialInstrumentscore:AdditionsToInvestments2023-06-3011429717core:Non-currentFinancialInstrumentscore:RevaluationsIncreaseDecreaseInInvestments2023-06-3011429717core:Non-currentFinancialInstrumentscore:DisposalsDecreaseInInvestments2023-06-3011429717core:Non-currentFinancialInstrumentscore:ProvidedReleasedInPeriodProvisionsForImpairmentInvestments2023-06-3011429717core:Non-currentFinancialInstrumentscore:ImpairmentLossReversalProvisionsForImpairmentInvestments2023-06-3011429717core:Non-currentFinancialInstrumentscore:AcquisitionsIncreaseInProvisionsForImpairmentInvestments2023-06-3011429717core:Non-currentFinancialInstrumentscore:DisposalsDecreaseInProvisionsForImpairmentInvestments2023-06-3011429717core:Non-currentFinancialInstrumentscore:OtherIncreaseDecreaseInProvisionsForImpairmentInvestments2023-06-3011429717core:Non-currentFinancialInstrumentscore:CostValuation2022-06-3011429717core:Non-currentFinancialInstrumentscore:AdditionsToInvestments2022-06-3011429717core:Non-currentFinancialInstrumentscore:RevaluationsIncreaseDecreaseInInvestments2022-06-3011429717core:Non-currentFinancialInstrumentscore:DisposalsDecreaseInInvestments2022-06-3011429717core:Non-currentFinancialInstrumentscore:ProvidedReleasedInPeriodProvisionsForImpairmentInvestments2022-06-3011429717core:Non-currentFinancialInstrumentscore:ImpairmentLossReversalProvisionsForImpairmentInvestments2022-06-3011429717core:Non-currentFinancialInstrumentscore:AcquisitionsIncreaseInProvisionsForImpairmentInvestments2022-06-3011429717core:Non-currentFinancialInstrumentscore:DisposalsDecreaseInProvisionsForImpairmentInvestments2022-06-3011429717core:Non-currentFinancialInstrumentscore:OtherIncreaseDecreaseInProvisionsForImpairmentInvestments2022-06-3011429717bus:Director12022-07-012023-06-3011429717bus:Director22022-07-012023-06-30

ITS TIME FOR WATCH LTD

Registered Number
11429717
(England and Wales)

Unaudited Financial Statements for the Year ended
30 June 2023

ITS TIME FOR WATCH LTD
Company Information
for the year from 1 July 2022 to 30 June 2023

Directors

YIGIT, Selin
YIGIT, Yuksel

Registered Address

2 Union Street
Brighton
BN1 1HA

Registered Number

11429717 (England and Wales)
ITS TIME FOR WATCH LTD
Balance Sheet as at
30 June 2023

Notes

2023

2022

£

£

£

£

Fixed assets
Tangible assets57368,005
7368,005
Current assets
Stocks365,510192,142
Debtors66,7686,265
Cash at bank and on hand2,00516,817
374,283215,224
Creditors amounts falling due within one year7(138,214)(109,604)
Net current assets (liabilities)236,069105,620
Total assets less current liabilities236,805113,625
Creditors amounts falling due after one year(38,585)(38,585)
Net assets198,22075,040
Capital and reserves
Called up share capital100100
Profit and loss account198,12074,940
Shareholders' funds198,22075,040
The financial statements were approved and authorised for issue by the Board of Directors on 11 September 2023, and are signed on its behalf by:
YIGIT, Selin
Director
YIGIT, Yuksel
Director

Registered Company No. 11429717
ITS TIME FOR WATCH LTD
Notes to the Financial Statements
for the year ended 30 June 2023

1.Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
2.Compliance with applicable reporting framework
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
3.Accounting policies
Property, plant and equipment policy
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:

Straight line (years)
Office Equipment4
Stocks policy
Inventories are valued at the lower of cost and estimated selling price (less any associated costs to enable such sales to complete).
Revenue recognition policy
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Foreign currency translation and operations policy
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
4.Employee information

20232022
Average number of employees during the year12
5.Property, plant and equipment

Total

£
Cost or valuation
At 01 July 229,407
Additions(8,300)
At 30 June 231,107
Depreciation and impairment
At 01 July 221,402
Charge for year7,269
On disposals(8,300)
At 30 June 23371
Net book value
At 30 June 23736
At 30 June 228,005
6.Debtors

2023

2022

££
Trade debtors / trade receivables-6,265
Other debtors6,768-
Total6,7686,265
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
7.Creditors within one year

2023

2022

££
Trade creditors / trade payables5,72511,404
Bank borrowings and overdrafts4,6924,681
Taxation and social security57,60434,290
Other creditors70,19359,229
Total138,214109,604
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.