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REGISTERED NUMBER: 04907395 (England and Wales)












FINANCIAL STATEMENTS

FOR THE YEAR ENDED 29 OCTOBER 2023

FOR

TIMEWISE SERVICES LIMITED

TIMEWISE SERVICES LIMITED (REGISTERED NUMBER: 04907395)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 OCTOBER 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


TIMEWISE SERVICES LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 29 OCTOBER 2023







DIRECTORS: H Al-Soufi
B Al-Soufi





SECRETARY: K Al-Soufi





REGISTERED OFFICE: Turnpike House
1208/1210 London Road
Leigh on Sea
Essex
SS9 2UA





REGISTERED NUMBER: 04907395 (England and Wales)





ACCOUNTANTS: Segrave & Partners LLP
Chartered Accountants
Turnpike House
1208/1210 London Road
Leigh on Sea
Essex
SS9 2UA

TIMEWISE SERVICES LIMITED (REGISTERED NUMBER: 04907395)

BALANCE SHEET
29 OCTOBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 8,611 7,843
8,611 7,843

CURRENT ASSETS
Stocks 9,410 8,560
Debtors 6 89,368 56,857
Cash at bank 108,013 103,964
206,791 169,381
CREDITORS
Amounts falling due within one year 7 93,316 79,260
NET CURRENT ASSETS 113,475 90,121
TOTAL ASSETS LESS CURRENT
LIABILITIES

122,086

97,964

CAPITAL AND RESERVES
Called up share capital 20 20
Retained earnings 9 122,066 97,944
SHAREHOLDERS' FUNDS 122,086 97,964

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29 October 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 29 October 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

TIMEWISE SERVICES LIMITED (REGISTERED NUMBER: 04907395)

BALANCE SHEET - continued
29 OCTOBER 2023


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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 21 March 2024 and were signed on its behalf by:




H Al-Soufi - Director



B Al-Soufi - Director


TIMEWISE SERVICES LIMITED (REGISTERED NUMBER: 04907395)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 OCTOBER 2023

1. STATUTORY INFORMATION

Timewise Services Limited 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.

Turnover
Turnover represents net invoiced sales of services, excluding value added tax.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2003, is being amortised evenly over its estimated useful life of ten years.

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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 25% on reducing balance
Office equipment - 25% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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 year 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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

TIMEWISE SERVICES LIMITED (REGISTERED NUMBER: 04907395)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 29 OCTOBER 2023

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 9 (2022 - 9 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 30 October 2022
and 29 October 2023 15,000
AMORTISATION
At 30 October 2022
and 29 October 2023 15,000
NET BOOK VALUE
At 29 October 2023 -
At 29 October 2022 -

5. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Office
machinery fittings equipment Totals
£    £    £    £   
COST
At 30 October 2022 21,397 64,283 23,011 108,691
Additions - - 3,642 3,642
At 29 October 2023 21,397 64,283 26,653 112,333
DEPRECIATION
At 30 October 2022 19,383 58,980 22,485 100,848
Charge for year 504 1,327 1,043 2,874
At 29 October 2023 19,887 60,307 23,528 103,722
NET BOOK VALUE
At 29 October 2023 1,510 3,976 3,125 8,611
At 29 October 2022 2,014 5,303 526 7,843

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 69,368 56,857
Director's current account - BA 20,000 -
89,368 56,857

TIMEWISE SERVICES LIMITED (REGISTERED NUMBER: 04907395)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 29 OCTOBER 2023

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 27,013 18,723
Tax 30,289 27,462
Social security and other taxes 3,472 3,132
VAT 23,033 21,083
Director's current account - HA 709 160
Accrued expenses 8,800 8,700
93,316 79,260

8. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2023 2022
£    £   
Within one year 22,000 22,000
Between one and five years 3,667 25,667
25,667 47,667

9. RESERVES
Retained
earnings
£   

At 30 October 2022 97,944
Profit for the year 113,122
Dividends (89,000 )
At 29 October 2023 122,066