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Company Registration No. 12937062 (England and Wales)
Dr Tim Ltd Unaudited accounts for the year ended 31 October 2023
Dr Tim Ltd Unaudited accounts Contents
Page
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Dr Tim Ltd Company Information for the year ended 31 October 2023
Directors
Lee James Cottrill Miranda Pearce Timothy Pearce
Company Number
12937062 (England and Wales)
Registered Office
107 KIRKGATE LEEDS LS1 6DP ENGLAND
Accountants
Sleek Accounting Ltd 107 Kirkgate Leeds West Yorkshire LS1 6DP
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Dr Tim Ltd Statement of financial position as at 31 October 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Tangible assets
126,306 
24,149 
Investments
75,000 
75,000 
201,306 
99,149 
Current assets
Debtors
1,258,510 
1,169,822 
Cash at bank and in hand
1,053,608 
1,198,253 
2,312,118 
2,368,075 
Creditors: amounts falling due within one year
(361,867)
(730,482)
Net current assets
1,950,251 
1,637,593 
Total assets less current liabilities
2,151,557 
1,736,742 
Provisions for liabilities
Deferred tax
(31,576)
(4,588)
Net assets
2,119,981 
1,732,154 
Capital and reserves
Called up share capital
3 
3 
Profit and loss account
2,119,978 
1,732,151 
Shareholders' funds
2,119,981 
1,732,154 
For the year ending 31 October 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
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
Lee James Cottrill Director Company Registration No. 12937062
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Dr Tim Ltd Notes to the Accounts for the year ended 31 October 2023
1
Statutory information
Dr Tim Ltd is a private company, limited by shares, registered in England and Wales, registration number 12937062. The registered office is 107 KIRKGATE, LEEDS, LS1 6DP, ENGLAND.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
5 years straight line
Computer equipment
3 years straight line
Deferred taxation
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 accounts. 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.
Foreign exchange
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rates of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
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Dr Tim Ltd Notes to the Accounts for the year ended 31 October 2023
4
Tangible fixed assets
Plant & machinery 
Computer equipment 
Total 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At 1 November 2022
2,454 
36,250 
38,704 
Additions
117,915 
19,502 
137,417 
At 31 October 2023
120,369 
55,752 
176,121 
Depreciation
At 1 November 2022
219 
14,336 
14,555 
Charge for the year
17,526 
17,734 
35,260 
At 31 October 2023
17,745 
32,070 
49,815 
Net book value
At 31 October 2023
102,624 
23,682 
126,306 
At 31 October 2022
2,235 
21,914 
24,149 
5
Investments
Other investments 
£ 
Valuation at 1 November 2022
75,000 
Valuation at 31 October 2023
75,000 
6
Debtors
2023 
2022 
£ 
£ 
Amounts falling due within one year
Trade debtors
413,059 
866,115 
Accrued income and prepayments
48,767 
38,882 
Other debtors
796,684 
264,825 
1,258,510 
1,169,822 
7
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
VAT
6,332 
74,596 
Trade creditors
68,414 
38,255 
Taxes and social security
274,579 
476,522 
Other creditors
3,986 
59,208 
Loans from directors
- 
936 
Accruals
8,556 
80,965 
361,867 
730,482 
8
Share capital
2023 
2022 
£ 
£ 
Allotted, called up and fully paid:
3 Ordinary shares of £1 each
3 
3 
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Dr Tim Ltd Notes to the Accounts for the year ended 31 October 2023
9
Loans to directors
Brought Forward 
Advance/ credit 
Repaid 
Carried Forward 
£ 
£ 
£ 
£ 
Total Loans
(936)
330,412 
301,148 
28,328 
(936)
330,412 
301,148 
28,328 
During the year the overdrawn loan balances had total interest charged of £1,182 calculated using the HMRC official rate of 2.25%. Loans are repayable on demand.
10
Transactions with related parties
The company is a subsidiary of LMT Holdings Limited. The amount owed from LMT Holdings Limited at the balance sheet date was £763,377 (2023: £264,470).
11
Average number of employees
During the year the average number of employees was 13 (2022: 10).
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