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REGISTERED NUMBER: 11699101 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 October 2023

for

Times 2 Limited

Times 2 Limited (Registered number: 11699101)






Contents of the Financial Statements
for the Year Ended 31 October 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Times 2 Limited

Company Information
for the Year Ended 31 October 2023







DIRECTOR: Mr H T Relph





REGISTERED OFFICE: 2 Church Street
Burnham
Buckinghamshire
SL1 7HZ





REGISTERED NUMBER: 11699101 (England and Wales)





ACCOUNTANTS: Sweeting & Smedley Limited
2 Church Street
Burnham
Buckinghamshire
SL1 7HZ

Times 2 Limited (Registered number: 11699101)

Balance Sheet
31 October 2023

31.10.23 31.10.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 60,401 90,559

CURRENT ASSETS
Stocks 889,397 461,793
Debtors 5 200,157 114,662
Cash at bank 154,540 258,054
1,244,094 834,509
CREDITORS
Amounts falling due within one year 6 217,434 200,098
NET CURRENT ASSETS 1,026,660 634,411
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,087,061

724,970

CREDITORS
Amounts falling due after more than one
year

7

69,308

82,008
NET ASSETS 1,017,753 642,962

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings 1,017,752 642,961
1,017,753 642,962

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

Times 2 Limited (Registered number: 11699101)

Balance Sheet - continued
31 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 director and authorised for issue on 20 September 2024 and were signed by:





Mr H T Relph - Director


Times 2 Limited (Registered number: 11699101)

Notes to the Financial Statements
for the Year Ended 31 October 2023

1. STATUTORY INFORMATION

Times 2 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 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 - 50% on cost, 33% on cost and 25% on 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.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2022 - 1 ) .

Times 2 Limited (Registered number: 11699101)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2023

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 November 2022 124,852
Additions 1,390
Disposals (1,290 )
At 31 October 2023 124,952
DEPRECIATION
At 1 November 2022 34,293
Charge for year 30,903
Eliminated on disposal (645 )
At 31 October 2023 64,551
NET BOOK VALUE
At 31 October 2023 60,401
At 31 October 2022 90,559

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.10.23 31.10.22
£    £   
Trade debtors 104,940 49,150
Other debtors 95,217 65,512
200,157 114,662

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.10.23 31.10.22
£    £   
Bank loans and overdrafts - 1,203
Hire purchase contracts 12,700 11,778
Trade creditors 4,491 4,697
Taxation and social security 186,603 168,624
Other creditors 13,640 13,796
217,434 200,098

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.10.23 31.10.22
£    £   
Hire purchase contracts 69,308 82,008

Times 2 Limited (Registered number: 11699101)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2023

8. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 October 2023 and 31 October 2022:

31.10.23 31.10.22
£    £   
Mr H T Relph
Balance outstanding at start of year 45,102 -
Amounts advanced 22,888 45,102
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 67,990 45,102

Interest was charged on the outstanding director's loan at HM Revenue & Customs' official rate.