EH Time Limited 13228860 false 2022-03-01 2023-02-28 2023-02-28 The principal activity of the company is retail sale of watches. Digita Accounts Production Advanced 6.30.9574.0 true 13228860 2022-03-01 2023-02-28 13228860 2023-02-28 13228860 core:CurrentFinancialInstruments 2023-02-28 13228860 core:CurrentFinancialInstruments core:WithinOneYear 2023-02-28 13228860 core:OfficeEquipment 2023-02-28 13228860 bus:SmallEntities 2022-03-01 2023-02-28 13228860 bus:AuditExemptWithAccountantsReport 2022-03-01 2023-02-28 13228860 bus:FullAccounts 2022-03-01 2023-02-28 13228860 bus:SmallCompaniesRegimeForAccounts 2022-03-01 2023-02-28 13228860 bus:RegisteredOffice 2022-03-01 2023-02-28 13228860 bus:Director3 2022-03-01 2023-02-28 13228860 bus:PrivateLimitedCompanyLtd 2022-03-01 2023-02-28 13228860 core:OfficeEquipment 2022-03-01 2023-02-28 13228860 countries:EnglandWales 2022-03-01 2023-02-28 13228860 2021-02-26 2022-02-28 13228860 2022-02-28 13228860 core:CurrentFinancialInstruments 2022-02-28 13228860 core:CurrentFinancialInstruments core:WithinOneYear 2022-02-28 iso4217:GBP xbrli:pure

Registration number: 13228860

EH Time Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 28 February 2023

 

EH Time Limited

Contents

Balance Sheet

1

Notes to the Unaudited Financial Statements

2 to 4

 

EH Time Limited

(Registration number: 13228860)
Balance Sheet as at 28 February 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

563

-

Current assets

 

Stocks

5

121,821

34,157

Debtors

6

2,991

377

Cash at bank and in hand

 

135,821

114,319

 

260,633

148,853

Creditors: Amounts falling due within one year

7

(25,294)

(180,655)

Net current assets/(liabilities)

 

235,339

(31,802)

Net assets/(liabilities)

 

235,902

(31,802)

Capital and reserves

 

Called up share capital

12

10

Share premium reserve

413,857

-

Retained earnings

(177,967)

(31,812)

Shareholders' funds/(deficit)

 

235,902

(31,802)

For the financial year ending 28 February 2023 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 accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 23 November 2023 and signed on its behalf by:
 

.........................................
Mrs J S O'Brien
Director

 

EH Time Limited

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2023

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
4th Floor
35 King Street
London
WC2E 8JG

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

Tax

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

 

EH Time Limited

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2023

Asset class

Depreciation method and rate

Office Equipment

25% Straight Line

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2022 - 2).

 

EH Time Limited

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2023

4

Tangible assets

Office equipment
£

Total
£

Cost or valuation

Additions

750

750

At 28 February 2023

750

750

Depreciation

Charge for the year

187

187

At 28 February 2023

187

187

Carrying amount

At 28 February 2023

563

563

5

Stocks

2023
£

2022
£

Other inventories

121,821

34,157

6

Debtors

Current

2023
£

2022
£

Other debtors

2,991

377

7

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Due within one year

Trade creditors

5,557

1,120

Taxation and social security

2,356

-

Other creditors

17,381

179,535

25,294

180,655