Company Registration No. 4937654 (England and Wales)
Strict Time Ltd
Unaudited accounts
for the year ended 31 December 2023
Strict Time Ltd
Unaudited accounts
Contents
Strict Time Ltd
Company Information
for the year ended 31 December 2023
Director
Timothy David Oldham
Company Number
4937654 (England and Wales)
Registered Office
6 Edison Village
Nottingham Science & Technology Park
Nottingham
Nottinghamshire
NG7 2RF
United Kingdom
Accountants
Archimedia Accounts
6 Edison Village
Nottingham Science & Technology Park
Nottingham
Nottinghamshire
NG72RF
Strict Time Ltd
Statement of financial position
as at 31 December 2023
Tangible assets
3,220
3,468
Cash at bank and in hand
1,946
17
Creditors: amounts falling due within one year
(2,668)
(8,237)
Net current liabilities
(722)
(6,080)
Total assets less current liabilities
2,498
(2,612)
Creditors: amounts falling due after more than one year
(8,686)
(9,700)
Net liabilities
(6,188)
(12,312)
Called up share capital
100
100
Profit and loss account
(6,288)
(12,412)
Shareholders' funds
(6,188)
(12,312)
For the year ending 31 December 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 director acknowledges his 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 and authorised for issue on 17 September 2024 and were signed on its behalf by
Timothy David Oldham
Director
Company Registration No. 4937654
Strict Time Ltd
Notes to the Accounts
for the year ended 31 December 2023
Strict Time Ltd is a private company, limited by shares, registered in England and Wales, registration number 4937654. The registered office is 6 Edison Village, Nottingham Science & Technology Park , Nottingham, Nottinghamshire, NG7 2RF, United Kingdom.
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.
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.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
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
25% reducing balance
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.
Strict Time Ltd
Notes to the Accounts
for the year ended 31 December 2023
4
Tangible fixed assets
Plant & machinery
At 31 December 2023
29,749
At 31 December 2023
26,529
Amounts falling due within one year
6
Creditors: amounts falling due within one year
2023
2022
Bank loans and overdrafts
1,262
5,579
Taxes and social security
1,495
778
Loans from directors
(89)
1,880
7
Creditors: amounts falling due after more than one year
2023
2022
Allotted, called up and fully paid:
100 Ordinary shares of £1 each
100
100
Strict Time Ltd
Notes to the Accounts
for the year ended 31 December 2023
Brought
Forward
Advance/
credit
Repaid
Carried
Forward
Balance on director's loan account
-
89
89
-
10
Transactions with related parties
During the year, an interest free loan from the director of £1,880 was repaid by the company to the director.
11
Average number of employees
During the year the average number of employees was 1 (2022: 1).