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REGISTERED NUMBER: 14009545 (England and Wales)













Unaudited Financial Statements

for the Period 29 March 2022 to 31 March 2023

for

It's Time Property Ltd

It's Time Property Ltd (Registered number: 14009545)






Contents of the Financial Statements
for the Period 29 March 2022 to 31 March 2023




Page

Company Information 1

Chartered Accountants' Report 2

Balance Sheet 3

Notes to the Financial Statements 5


It's Time Property Ltd

Company Information
for the Period 29 March 2022 to 31 March 2023







DIRECTOR: S McCarroll





SECRETARY: S McCarroll





REGISTERED OFFICE: Brook House
Moss Grove
Kingswinford
West Midlands
DY6 9HS





REGISTERED NUMBER: 14009545 (England and Wales)





ACCOUNTANTS: Wilkes Tranter & Co Limited
Brook House
Moss Grove
Kingswinford
West Midlands
DY6 9HS

Chartered Accountants' Report to the Director
on the Unaudited Financial Statements of
It's Time Property Ltd

The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Director's Report are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of It's Time Property Ltd for the period ended 31 March 2023 which comprise the Profit and Loss account, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the director of It's Time Property Ltd in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of It's Time Property Ltd and state those matters that we have agreed to state to the director of It's Time Property Ltd in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than It's Time Property Ltd and its director for our work or for this report.

It is your duty to ensure that It's Time Property Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of It's Time Property Ltd. You consider that It's Time Property Ltd is exempt from the statutory audit requirement for the period.

We have not been instructed to carry out an audit or a review of the financial statements of It's Time Property Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Wilkes Tranter & Co Limited
Brook House
Moss Grove
Kingswinford
West Midlands
DY6 9HS


13 March 2024

It's Time Property Ltd (Registered number: 14009545)

Balance Sheet
31 March 2023

Notes £   
FIXED ASSETS
Intangible assets 4 14,564

CURRENT ASSETS
Cash at bank 227

CREDITORS
Amounts falling due within one year 5 (30,046 )
NET CURRENT LIABILITIES (29,819 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(15,255

)

CAPITAL AND RESERVES
Called up share capital 100
Retained earnings (15,355 )
(15,255 )

It's Time Property Ltd (Registered number: 14009545)

Balance Sheet - continued
31 March 2023


The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the period ended 31 March 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Profit and Loss account has not been delivered.

The financial statements were approved by the director and authorised for issue on 13 March 2024 and were signed by:





S McCarroll - Director


It's Time Property Ltd (Registered number: 14009545)

Notes to the Financial Statements
for the Period 29 March 2022 to 31 March 2023

1. STATUTORY INFORMATION

It's Time Property Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Patents and licences are being amortised evenly over their estimated useful life of five years.

Taxation
Taxation for the period comprises current and deferred tax. Tax is recognised in the Profit and Loss account, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the period end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

It's Time Property Ltd (Registered number: 14009545)

Notes to the Financial Statements - continued
for the Period 29 March 2022 to 31 March 2023

2. ACCOUNTING POLICIES - continued

Going concern
At 31 March 2023 there was a deficiency of assets of £15,255. The company is dependant upon the continued financial support of the director. It is understood that this support will continue. On this basis the director considers it appropriate to prepare financial statements on a going concern basis. These financial statements do not include any adjustments which would arise if the accounts had not been prepared on a going concern basis.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the period was 1 .

4. INTANGIBLE FIXED ASSETS
Patents
and
licences
£   
COST
Additions 17,652
At 31 March 2023 17,652
AMORTISATION
Amortisation for period 3,088
At 31 March 2023 3,088
NET BOOK VALUE
At 31 March 2023 14,564

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
£   
Other creditors 30,046