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Registered Number: 12459002
England and Wales

 

 

 

TIME MORTGAGES LTD


Abridged Accounts
 


Period of accounts

Start date: 01 February 2022

End date: 31 January 2023
 
 
Notes
 
31/01/2023
£
  31/01/2022
£
Fixed assets      
Tangible fixed assets 3 4,410    4,900 
4,410    4,900 
Current assets      
Debtors 72,942    32,198 
Cash at bank and in hand 16,421    28,396 
89,363    60,594 
Creditors: amount falling due within one year (41,121)   (10,561)
Net current assets 48,242    50,033 
 
Total assets less current liabilities 52,652    54,933 
Creditors: amount falling due after more than one year (42,715)   (49,432)
Net assets 9,937    5,501 
 

Capital and reserves
     
Called up share capital 100    100 
Profit and loss account 9,837    5,401 
Shareholder's funds 9,937    5,501 
 


For the year ended 31 January 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The director acknowledges their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These financial statements 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 Part 15 of the Companies Act 2006. In accordance with Section 444 of the Companies Act 2006, the income statement has not been delivered to the Registrar of Companies.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with section 444(2A).
The financial statements were approved by the director on 23 October 2023 and were signed by:


-------------------------------
Muhammad Sohail KHAN
Director
1
General Information
TIME MORTGAGES LTD is a private company, limited by shares, registered in England and Wales, registration number 12459002, registration address Westminster Business Centre, Printing House Lane, Hayes, Middlesex, UB3 1AP.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 102 – The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the company.
Dividends
Proposed dividends are only included as liabilities in the statement of financial position when their payment has been approved by the shareholders prior to the statement of financial position date.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
2.

Average number of employees

Average number of employees during the year was 0 (2022 : 0).
3.

Tangible fixed assets

Cost or valuation Fixtures and Fittings   Total
  £   £
At 01 February 2022 4,900    4,900 
Additions  
Disposals  
At 31 January 2023 4,900    4,900 
Depreciation
At 01 February 2022  
Charge for year 490    490 
On disposals  
At 31 January 2023 490    490 
Net book values
Closing balance as at 31 January 2023 4,410    4,410 
Opening balance as at 01 February 2022 4,900    4,900 


4.

Related parties

During the year the company entered into the following transactions with related parties:
Transaction value - income/(expenses) Balance owed by/(owed to)
31/01/2023
£
 31/01/2022
£
 31/01/2023
£
 31/01/2022
£
Related Party Transaction 55,500 55,500 

Debtors include an amount of £55,500 receivable from Quintessntial Hire Ltd, The company also owned by the director Mr Sohail KHAN.
2