Timeline UK Ltd |
|
Chartered Accountants' report to the board of directors on the preparation of the unaudited statutory accounts of Timeline UK Ltd for the year ended 31 December 2023 |
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Timeline UK Ltd for the year ended 31 December 2023 which comprise of the Profit and Loss Account and the Balance Sheet from the company’s accounting records and from information and explanations you have given us. |
As a practising member firm of the Institute of Chartered Accountants in England and Wales, we are subject to its ethical and other professional requirements which are detailed at www.icaew.com/en/members/regulations-standards-and-guidance |
This report is made solely to the Board of Directors of Timeline UK Ltd, as a body, in accordance with the terms of our engagement letter dated 27 April 2012. Our work has been undertaken solely to prepare for your approval the accounts of Timeline UK Ltd and state those matters that we have agreed to state to the Board of Directors of Timeline UK Ltd, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Timeline UK Ltd and its Board of Directors as a body for our work or for this report. |
It is your duty to ensure that Timeline UK Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit or loss of Timeline UK Ltd. You consider that Timeline UK Ltd is exempt from the statutory audit requirement for the year. |
We have not been instructed to carry out an audit or a review of the accounts of Timeline UK Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts. |
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MAH, Chartered Accountants |
2nd Floor |
154 Bishopsgate |
London |
|
EC2M 4LN |
|
20 September 2024 |
|
Timeline UK Ltd |
Registered number: |
06764855 |
Balance Sheet |
as at 31 December 2023 |
|
|
|
|
|
2023 |
|
|
2022 |
£ |
£ |
|
Fixed assets |
|
|
|
31,456 |
|
|
38,350 |
Current assets |
|
|
20,983 |
|
|
10,932 |
|
|
|
20,983 |
|
|
10,932 |
Creditors: amounts falling due within one year |
|
|
(107,096) |
|
|
(105,409) |
Net current liabilities |
|
|
|
(86,113) |
|
|
(94,477) |
Total assets less current liabilities |
|
|
|
(54,657) |
|
|
(56,127) |
Creditors: amounts falling due after more than one year |
|
|
|
(42,303) |
|
|
(38,000) |
Accruals and deferred income |
|
|
|
(48,765) |
|
|
(47,966) |
Net liabilities |
|
|
|
(145,725) |
|
|
(142,093) |
|
|
|
|
|
|
|
|
Capital and reserves |
|
|
|
(145,725) |
|
|
(142,093) |
|
|
|
|
|
|
|
|
Number |
Number |
Average number of employees |
|
|
|
1 |
|
|
1 |
|
|
|
|
|
|
|
|
The company is a private company limited by shares and incorporated in England. Its registered office is Apartment 105, 55 North Wharf Road, London, England, W2 1LA. |
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006. |
The members have not required the company to obtain an audit in accordance with section 476 of the Act. |
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. |
The accounts have been prepared in accordance with the micro entity provisions of the Companies Act 2006 and FRS 105, The Financial Reporting Standard applicable to the Micro-entities Regime. The accounts have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies. |
|
|
|
|
Dr Vahe Karimyan |
Director |
Approved by the board on 20 September 2024 |
|
Timeline UK Ltd |
Additional notes and balance sheet items |
as at 31 December 2023 |
This schedule does not form part of the statutory accounts |
|
1) Accounting policies |
Basis of preparation |
The accounts have been prepared under the historical cost convention and in accordance with the micro entity provisions of the Companies Act 2006 and FRS 105, The Financial Reporting Standard applicable to the Micro-entities Regime. |
|
Turnover |
Turnover represents the value, net of value added tax and discounts, of goods and services provided to customers. |
|
Tangible fixed assets |
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows: |
Plant and machinery: |
20% reducing balance method |
|
|
2) Balance sheet items |
|
|
2023 |
|
|
2022 |
£ |
£ |
|
Fixed assets |
Plant and machinery etc |
15,646 |
|
|
19,557 |
Equipment, fixtures & fittings |
15,810 |
|
|
18,793 |
|
|
31,456 |
|
|
38,350 |
|
|
|
|
|
|
Current assets |
Stocks |
13,629 |
|
|
5,840 |
Other debtors |
199 |
|
|
199 |
Cash at bank and in hand |
7,155 |
|
|
4,893 |
|
|
20,983 |
|
|
10,932 |
Creditors: amounts falling due within one year |
Bank loans and overdrafts |
|
40,741 |
|
|
34,717 |
Obligations under finance lease and hire purchase contracts |
3,656 |
|
|
3,969 |
Trade creditors |
1,596 |
|
|
1,596 |
Corporation tax |
2,612 |
|
|
2,612 |
Other taxes and social security costs |
1,657 |
|
|
1,657 |
Other creditors |
56,834 |
|
|
60,858 |
|
|
107,096 |
|
|
105,409 |
|
|
|
|
|
|
Creditors: amounts falling due after more than one year |
Bank loans |
|
42,303 |
|
|
38,000 |
|
|
42,303 |
|
|
38,000 |
|
|
|
|
|
|
Accruals and deferred income |
Accruals |
48,765 |
|
|
47,966 |
|
|
48,765 |
|
|
47,966 |
|
|
|
|
|
|
Capital and reserves |
Called up share capital |
100 |
|
|
100 |
Profit and loss account |
(145,825) |
|
|
(142,193) |
|
|
(145,725) |
|
|
(142,093) |
|
|
|
|
|
|
Profit and loss account |
Brought forward |
(142,193) |
|
|
(108,843) |
Loss |
(3,632) |
|
|
(33,350) |
|
|
(145,825) |
|
|
(142,193) |
|
|
|
|
|
|
|