Silverfin false 31/05/2023 01/06/2022 31/05/2023 W M E Kinsey-Jones 04/11/2009 03 March 2024 no description of principal activity 07062161 2023-05-31 07062161 bus:Director1 2023-05-31 07062161 2022-05-31 07062161 core:CurrentFinancialInstruments 2023-05-31 07062161 core:CurrentFinancialInstruments 2022-05-31 07062161 core:ShareCapital 2023-05-31 07062161 core:ShareCapital 2022-05-31 07062161 core:RetainedEarningsAccumulatedLosses 2023-05-31 07062161 core:RetainedEarningsAccumulatedLosses 2022-05-31 07062161 core:LandBuildings 2022-05-31 07062161 core:LandBuildings 2023-05-31 07062161 2022-06-01 2023-05-31 07062161 bus:FullAccounts 2022-06-01 2023-05-31 07062161 bus:SmallEntities 2022-06-01 2023-05-31 07062161 bus:AuditExemptWithAccountantsReport 2022-06-01 2023-05-31 07062161 bus:PrivateLimitedCompanyLtd 2022-06-01 2023-05-31 07062161 bus:Director1 2022-06-01 2023-05-31 07062161 2021-06-01 2022-05-31 07062161 core:CurrentFinancialInstruments 2022-06-01 2023-05-31 iso4217:GBP xbrli:pure

Company No: 07062161 (England and Wales)

TAYTIME LIMITED

Unaudited Financial Statements
For the financial year ended 31 May 2023
Pages for filing with the registrar

TAYTIME LIMITED

Unaudited Financial Statements

For the financial year ended 31 May 2023

Contents

TAYTIME LIMITED

COMPANY INFORMATION

For the financial year ended 31 May 2023
TAYTIME LIMITED

COMPANY INFORMATION (continued)

For the financial year ended 31 May 2023
DIRECTOR W M E Kinsey-Jones
REGISTERED OFFICE Camburgh House
27 New Dover Road
Canterbury
Kent
CT1 3DN
United Kingdom
COMPANY NUMBER 07062161 (England and Wales)
CHARTERED ACCOUNTANTS Burgess Hodgson LLP
Camburgh House
27 New Dover Road
Canterbury
CT1 3DN
TAYTIME LIMITED

STATEMENT OF FINANCIAL POSITION

As at 31 May 2023
TAYTIME LIMITED

STATEMENT OF FINANCIAL POSITION (continued)

As at 31 May 2023
Note 2023 2022
£ £
Fixed assets
Tangible assets 4 150,000 150,000
150,000 150,000
Current assets
Debtors 5 153,913 75,751
Cash at bank and in hand 623 9,405
154,536 85,156
Creditors: amounts falling due within one year 6 ( 295,163) ( 218,467)
Net current liabilities (140,627) (133,311)
Total assets less current liabilities 9,373 16,689
Net assets 9,373 16,689
Capital and reserves
Called-up share capital 1 1
Profit and loss account 9,372 16,688
Total shareholder's funds 9,373 16,689

For the financial 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.

Director's responsibilities:

The financial statements of Taytime Limited (registered number: 07062161) were approved and authorised for issue by the Director on 03 March 2024. They were signed on its behalf by:

W M E Kinsey-Jones
Director
TAYTIME LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 May 2023
TAYTIME LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 May 2023
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Taytime Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Camburgh House, 27 New Dover Road, Canterbury, Kent, CT1 3DN, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The director has assessed the Statement of Financial Position and likely future cash flows at the date of approving these financial statements. The director has a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Turnover

Turnover is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer. Turnover from the sale of goods is recognised when the goods are physically delivered to the customer.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Statement of Financial Position date.

Deferred tax
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 financial statements. 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.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Tangible fixed assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.

Land and buildings not depreciated
Impairment of assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

Financial Instruments

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into.

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment. If an arrangement constitutes a finance transaction it is measured at present value.

2. Critical accounting judgements and key sources of estimation uncertainty

In the application of the Company’s accounting policies, the director is required to make judgements that have a significant impact on the amounts recognised. The following are the critical judgements that the director has made in the process of applying the Company’s accounting policies and that have the most significant effect on the amounts recognised in the financial statements.

3. Employees

2023 2022
Number Number
Monthly average number of persons employed by the Company during the year, including the director 1 1

4. Tangible assets

Land and buildings Total
£ £
Cost
At 01 June 2022 150,000 150,000
At 31 May 2023 150,000 150,000
Accumulated depreciation
At 01 June 2022 0 0
At 31 May 2023 0 0
Net book value
At 31 May 2023 150,000 150,000
At 31 May 2022 150,000 150,000

5. Debtors

2023 2022
£ £
Trade debtors 792 0
Other debtors 153,121 75,751
153,913 75,751

6. Creditors: amounts falling due within one year

2023 2022
£ £
Trade creditors 18,899 17,039
Taxation and social security 5,301 5,338
Other creditors 270,963 196,090
295,163 218,467

The company has a charge over its land of £150,000 due or to become due from the company to the chargee.

7. Related party transactions

Transactions with owners holding a participating interest in the entity

2023 2022
£ £
Amounts owed to the Director 6,380 1,350

Transactions with entities in which the entity itself has a participating interest

2023 2022
£ £
Amounts owed by/(owed to) a company related by common control 0 (3,030)
Amounts owed by/(owed to) a company related by common control (127,000) (127,000)
Amounts owed by/(owed to) a company related by common control (117,898) (43,965)