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REGISTERED NUMBER: 10054123 (England and Wales)













FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

TIMELY SOFTWARE LTD

TIMELY SOFTWARE LTD (REGISTERED NUMBER: 10054123)






CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 31 December 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


TIMELY SOFTWARE LTD

COMPANY INFORMATION
for the Year Ended 31 December 2023







DIRECTORS: M Feierstein
M Thompson
E Remer
O Smith





REGISTERED OFFICE: Highfield Court Tollgate
Chandler's Ford
Eastleigh
Hampshire
SO53 3TY





REGISTERED NUMBER: 10054123 (England and Wales)





AUDITORS: Oury Clark Chartered Accountants
Statutory Auditors
Herschel House
58 Herschel Street
Slough
Berkshire
SL1 1PG

TIMELY SOFTWARE LTD (REGISTERED NUMBER: 10054123)

BALANCE SHEET
31 December 2023

31.12.23 31.12.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 8,923 17,936

CURRENT ASSETS
Stocks 1,925 3,776
Debtors 5 574,890 243,996
Cash at bank 41,064 144,924
617,879 392,696
CREDITORS
Amounts falling due within one year 6 117,508 88,218
NET CURRENT ASSETS 500,371 304,478
TOTAL ASSETS LESS CURRENT
LIABILITIES

509,294

322,414

PROVISIONS FOR LIABILITIES 7 1,954 -
NET ASSETS 507,340 322,414

CAPITAL AND RESERVES
Called up share capital 8 100 100
Retained earnings 9 507,240 322,314
SHAREHOLDERS' FUNDS 507,340 322,414

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 5 September 2024 and were signed on its behalf by:





M Thompson - Director


TIMELY SOFTWARE LTD (REGISTERED NUMBER: 10054123)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 31 December 2023

1. STATUTORY INFORMATION

Timely Software 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.

The company has obtained a letter of support from the parent company. The directors of the parent company have provided a commitment to provide any financial support which may be necessary in order for the company to meet liabilities, as they fall due, for a period of at least 12 months and 1 day from the signing of the audit report. As a result of this commitment the directors have continued to adopt the going concern basis in preparing these financial statements.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

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 arising from intercompany agreements is recognised in the period to which they relate.

Tangible fixed assets
Tangible assets are initially measured at cost. Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and Machinery - 40% 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.

Costs are determined on a first-in, first-out basis.

Financial instruments
Basic financial instruments as covered by Section 11 of FRS102 are measured at amortised cost. The company does not have any other financial instruments as covered by Section 12 of FRS102.

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.


TIMELY SOFTWARE LTD (REGISTERED NUMBER: 10054123)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 December 2023

2. ACCOUNTING POLICIES - continued
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.

Foreign currencies
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 rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

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.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 18 (2022 - 16 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 January 2023 37,252
Additions 1,978
Disposals (5,084 )
At 31 December 2023 34,146
DEPRECIATION
At 1 January 2023 19,316
Charge for year 10,358
Eliminated on disposal (4,451 )
At 31 December 2023 25,223
NET BOOK VALUE
At 31 December 2023 8,923
At 31 December 2022 17,936

TIMELY SOFTWARE LTD (REGISTERED NUMBER: 10054123)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 December 2023

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Amounts owed by group undertakings 514,598 159,497
Other debtors 60,292 84,499
574,890 243,996

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade creditors 4,281 7,440
Taxation and social security 55,521 35,601
Other creditors & accruals 57,706 45,177
117,508 88,218

7. PROVISIONS FOR LIABILITIES

The company has recognized £1,954 (2022: £nil) deferred tax liabilities for the timing differences at the year end.

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.12.23 31.12.22
value: £    £   
100 Ordinary £1 100 100

9. RESERVES
Retained
earnings
£   

At 1 January 2023 322,314
Profit for the year 184,926
At 31 December 2023 507,240

10. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Amy Enslin (Senior Statutory Auditor)
for and on behalf of Oury Clark Chartered Accountants

We would like to draw your attention to the following statement contained within our audit report as included within the full financial statements:-
"Use of our report
This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed."

TIMELY SOFTWARE LTD (REGISTERED NUMBER: 10054123)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 December 2023

11. ULTIMATE PARENT COMPANY

The immediate holding company is Timely Limited, an entity registered in New Zealand and the ultimate holding company is EverCommerce Inc, incorporated in the United States of America with registered office at 3601 Walnut Street, Suite 400 Denver, Colorado, USA. EverCommerce Inc. shares are listed on the NASDAQ, and its consolidated accounts can be found in the company's website: https://investors.evercommerce.com.

12. ULTIMATE CONTROLLING PARTY

There is no ultimate controlling party.