Company Registration No. SC626900 (Scotland)
Time & Wealth Creator Limited
Unaudited accounts
for the year ended 30 April 2023
Time & Wealth Creator Limited
Unaudited accounts
Contents
Time & Wealth Creator Limited
Company Information
for the year ended 30 April 2023
Directors
Mrs MT Thomson
Mr SA Thomson
Company Number
SC626900 (Scotland)
Registered Office
7 HARMONY COURT
BONNYRIGG
MIDLOTHIAN
EH19 3NY
SCOTLAND
Accountants
Added Accounting Ltd
8 Whitehouse Crescent
Gorebridge
EH23 4FT
Time & Wealth Creator Limited
Statement of financial position
as at 30 April 2023
Intangible assets
12,000
4,800
Cash at bank and in hand
7,758
10,437
Creditors: amounts falling due within one year
(13,951)
(8,232)
Net current (liabilities)/assets
(6,193)
3,034
Total assets less current liabilities
5,807
7,842
Creditors: amounts falling due after more than one year
(5,593)
(7,740)
Called up share capital
100
100
Profit and loss account
114
2
Shareholders' funds
214
102
For the year ending 30 April 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 15 September 2023 and were signed on its behalf by
Mr SA Thomson
Director
Company Registration No. SC626900
Time & Wealth Creator Limited
Notes to the Accounts
for the year ended 30 April 2023
Time & Wealth Creator Limited is a private company, limited by shares, registered in Scotland, registration number SC626900. The registered office is 7 HARMONY COURT, BONNYRIGG, MIDLOTHIAN, EH19 3NY, SCOTLAND.
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.
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.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. 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.
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:
Computer equipment
33% Straight line
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation.
4
Intangible fixed assets
Goodwill
Other increase/(decrease)
(7,200)
Time & Wealth Creator Limited
Notes to the Accounts
for the year ended 30 April 2023
5
Tangible fixed assets
Computer equipment
Amounts falling due within one year
7
Creditors: amounts falling due within one year
2023
2022
Bank loans and overdrafts
2,556
2,556
Taxes and social security
5,728
5,247
Loans from directors
5,347
-
8
Creditors: amounts falling due after more than one year
2023
2022
Allotted, called up and fully paid:
100 Ordinary shares of £1 each
100
100
10
Average number of employees
During the year the average number of employees was 2 (2022: 1).