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REGISTERED NUMBER: 02627556 (England and Wales)



















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

TIME AND FREQUENCY SOLUTIONS LIMITED

TIME AND FREQUENCY SOLUTIONS LIMITED (REGISTERED NUMBER: 02627556)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023




Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4


TIME AND FREQUENCY SOLUTIONS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2023







Directors: Mrs M C B Harvey
D L Bunn





Registered office: 25 Eastways
Witham
Essex
CM8 3AL





Registered number: 02627556 (England and Wales)





Accountants: Baverstocks Limited
Chartered Certified Accountants
Dickens House
Guithavon Street
Witham
Essex
CM8 1BJ

TIME AND FREQUENCY SOLUTIONS LIMITED (REGISTERED NUMBER: 02627556)

ABRIDGED BALANCE SHEET
31 DECEMBER 2023

2023 2022
Notes £    £    £    £   
Fixed assets
Tangible assets 4 53,196 26,242
Investments 5 1 1
53,197 26,243

Current assets
Stocks 608,194 648,476
Debtors 1,459,204 998,805
Cash at bank 382,214 369,657
2,449,612 2,016,938
Creditors
Amounts falling due within one year 568,530 496,631
Net current assets 1,881,082 1,520,307
Total assets less current liabilities 1,934,279 1,546,550

Provisions for liabilities 82,529 76,418
Net assets 1,851,750 1,470,132

Capital and reserves
Called up share capital 1,000 1,000
Retained earnings 1,850,750 1,469,132
Shareholders' funds 1,851,750 1,470,132

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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.

TIME AND FREQUENCY SOLUTIONS LIMITED (REGISTERED NUMBER: 02627556)

ABRIDGED BALANCE SHEET - continued
31 DECEMBER 2023


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

All the members have consented to the preparation of an abridged Income Statement and an abridged Balance Sheet for the year ended 31 December 2023 in accordance with Section 444(2A) of the Companies Act 2006.

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 18 July 2024 and were signed on its behalf by:





Mrs M C B Harvey - Director


TIME AND FREQUENCY SOLUTIONS LIMITED (REGISTERED NUMBER: 02627556)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1. Statutory information

Time and Frequency Solutions 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.

Preparation of consolidated financial statements
The financial statements contain information about Time and Frequency Solutions Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 400 of the Companies Act 2006 from the requirements to prepare consolidated financial statements as it and its subsidiary undertaking are included by full consolidation in the consolidated financial statements of its parent, Brandywine Communications, 1153 Warner Avenue,Tustin,CA 92780, USA.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

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 etc - Straight line over 7 years, Straight line over 3 years, Straight line over 2 years and Straight line over 5 years

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

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.

TIME AND FREQUENCY SOLUTIONS LIMITED (REGISTERED NUMBER: 02627556)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

2. Accounting policies - continued

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.

3. Employees and directors

The average number of employees during the year was 18 (2022 - 14 ) .

4. Tangible fixed assets
Totals
£   
Cost
At 1 January 2023 90,029
Additions 46,306
At 31 December 2023 136,335
Depreciation
At 1 January 2023 63,787
Charge for year 19,352
At 31 December 2023 83,139
Net book value
At 31 December 2023 53,196
At 31 December 2022 26,242

5. Fixed asset investments

Information on investments other than loans is as follows:
Totals
£   
Cost
At 1 January 2023
and 31 December 2023 1
Net book value
At 31 December 2023 1
At 31 December 2022 1

6. Other financial commitments

The company has financial commitments of £126,400 (2022: £158,000) in relation to non cancellable lease agreements for the company premises.

7. Related party disclosures

Included within debtors at the balance sheet date is an amount of £1,105,446 (2022: £508,819) due from a company with control.