Registered number
06764855
Timeline UK Ltd
Micro-Entity Unaudited Accounts
for the period ended
31 December 2023
Timeline UK Ltd
Report and accounts
Contents
Page
Accountants' report 1
Profit and loss account 2
Balance sheet 3
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.
MAH, Chartered Accountants
2nd Floor
154 Bishopsgate
London
EC2M 4LN
20 September 2024
Timeline UK Ltd
Profit and Loss Account
for the year ended 31 December 2023
2023 2022
£ £
Turnover 305,328 261,207
Other income 24,810 9,840
Cost of raw materials and consumables (95,131) (65,206)
Gross profit 235,007 205,841
Staff costs (99,095) (110,224)
Depreciation and other amounts written off assets (7,864) (9,587)
Other charges (131,680) (119,380)
Loss before taxation (3,632) (33,350)
Loss (3,632) (33,350)
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)
Timeline UK Ltd
Detailed profit and loss account items
for the year ended 31 December 2023
This schedule does not form part of the statutory accounts
2023 2022
£ £
Sales
Sales 305,328 261,207
305,328 261,207
Other income
Other operating income 1,700 -
Income from investments 23,110 9,840
24,810 9,840
Cost of raw materials and consumables
Purchases 95,131 65,206
95,131 65,206
Staff costs
Wages and salaries 42,000 38,700
Directors' salaries 42,000 32,400
Employer's NI 4,158 3,001
Travel and subsistence 10,366 33,536
Entertaining 571 2,587
99,095 110,224
Depreciation and other amounts written off assets
Depreciation 7,864 9,587
7,864 9,587
Other charges
Premises costs:
Rent 35,400 32,949
Use of home 4,383 3,361
39,783 36,310
General administrative expenses:
Postage 344 (48)
Stationery and printing 3,416 1,858
Subscriptions 917 79
Bank charges 3 234
Insurance - 640
Software 5,007 3,314
Repairs and maintenance 73 575
Sundry expenses 584 (778)
10,344 5,874
Legal and professional costs:
Accountancy fees 800 800
Consultancy fees 48,064 59,389
Advertising and PR 26,630 14,348
Other legal and professional - 49
75,494 74,586
Other
Commissions payable - 171
Interest payable 6,059 2,439
6,059 2,610
131,680 119,380
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