IRIS Accounts Production v24.2.0.383 08871875 Board of Directors 1.2.23 31.1.24 31.1.24 false true false false false true false Ordinary 1.00000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh088718752023-01-31088718752024-01-31088718752023-02-012024-01-31088718752022-01-31088718752022-02-012023-01-31088718752023-01-3108871875ns15:EnglandWales2023-02-012024-01-3108871875ns14:PoundSterling2023-02-012024-01-3108871875ns10:Director12023-02-012024-01-3108871875ns10:PrivateLimitedCompanyLtd2023-02-012024-01-3108871875ns10:SmallEntities2023-02-012024-01-3108871875ns10:AuditExempt-NoAccountantsReport2023-02-012024-01-3108871875ns10:SmallCompaniesRegimeForDirectorsReport2023-02-012024-01-3108871875ns10:SmallCompaniesRegimeForAccounts2023-02-012024-01-3108871875ns10:FullAccounts2023-02-012024-01-310887187512023-02-012024-01-3108871875ns10:OrdinaryShareClass12023-02-012024-01-3108871875ns10:Director22023-02-012024-01-3108871875ns10:RegisteredOffice2023-02-012024-01-3108871875ns5:CurrentFinancialInstruments2024-01-3108871875ns5:CurrentFinancialInstruments2023-01-3108871875ns5:Non-currentFinancialInstruments2024-01-3108871875ns5:Non-currentFinancialInstruments2023-01-3108871875ns5:ShareCapital2024-01-3108871875ns5:ShareCapital2023-01-3108871875ns5:SharePremium2024-01-3108871875ns5:SharePremium2023-01-3108871875ns5:RetainedEarningsAccumulatedLosses2024-01-3108871875ns5:RetainedEarningsAccumulatedLosses2023-01-3108871875ns5:NetGoodwill2023-02-012024-01-3108871875ns5:IntangibleAssetsOtherThanGoodwill2023-02-012024-01-3108871875ns5:ComputerSoftware2023-02-012024-01-3108871875ns5:NetGoodwill2023-01-3108871875ns5:IntangibleAssetsOtherThanGoodwill2023-01-3108871875ns5:NetGoodwill2024-01-3108871875ns5:IntangibleAssetsOtherThanGoodwill2024-01-3108871875ns5:NetGoodwill2023-01-3108871875ns5:IntangibleAssetsOtherThanGoodwill2023-01-3108871875ns5:FurnitureFittings2023-01-3108871875ns5:FurnitureFittings2023-02-012024-01-3108871875ns5:FurnitureFittings2024-01-3108871875ns5:FurnitureFittings2023-01-3108871875ns5:CurrentFinancialInstrumentsns5:WithinOneYear2024-01-3108871875ns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-01-3108871875ns5:Non-currentFinancialInstrumentsns5:BetweenOneTwoYears2024-01-3108871875ns5:Non-currentFinancialInstrumentsns5:BetweenOneTwoYears2023-01-3108871875ns5:Non-currentFinancialInstrumentsns5:BetweenTwoFiveYears2024-01-3108871875ns5:Non-currentFinancialInstrumentsns5:BetweenTwoFiveYears2023-01-3108871875ns5:Non-currentFinancialInstrumentsns5:MoreThanFiveYears2024-01-3108871875ns5:Non-currentFinancialInstrumentsns5:MoreThanFiveYears2023-01-3108871875ns5:Secured2024-01-3108871875ns5:Secured2023-01-3108871875ns10:OrdinaryShareClass12024-01-31
REGISTERED NUMBER: 08871875 (England and Wales)












UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2024

FOR

RHYTHM TIME LTD

RHYTHM TIME LTD (REGISTERED NUMBER: 08871875)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


RHYTHM TIME LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 JANUARY 2024







DIRECTORS: D J Pearce
P Clegg





REGISTERED OFFICE: 12 Victoria Road
Barnsley
South Yorkshire
S70 2BB





REGISTERED NUMBER: 08871875 (England and Wales)





ACCOUNTANTS: Gibson Booth Limited
12 Victoria Road
Barnsley
South Yorkshire
S70 2BB

RHYTHM TIME LTD (REGISTERED NUMBER: 08871875)

BALANCE SHEET
31 JANUARY 2024

31.1.24 31.1.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 130,411 153,263
Tangible assets 5 1,198 1,597
131,609 154,860

CURRENT ASSETS
Stocks 27,808 23,868
Debtors 6 46,760 47,692
Cash at bank 3,731 3,140
78,299 74,700
CREDITORS
Amounts falling due within one year 7 80,025 84,371
NET CURRENT LIABILITIES (1,726 ) (9,671 )
TOTAL ASSETS LESS CURRENT LIABILITIES 129,883 145,189

CREDITORS
Amounts falling due after more than
one year

8

157,045

173,575
NET LIABILITIES (27,162 ) (28,386 )

CAPITAL AND RESERVES
Called up share capital 10 100 100
Share premium 24,990 24,990
Retained earnings (52,252 ) (53,476 )
SHAREHOLDERS' FUNDS (27,162 ) (28,386 )

RHYTHM TIME LTD (REGISTERED NUMBER: 08871875)

BALANCE SHEET - continued
31 JANUARY 2024


The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

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 12 September 2024 and were signed on its behalf by:





D J Pearce - Director


RHYTHM TIME LTD (REGISTERED NUMBER: 08871875)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

1. STATUTORY INFORMATION

Rhythm Time 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.

The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest pound.

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.

Significant judgements and estimates
No judgements have been made in the process of applying the below accounting policies that have had the most significant effect on amounts recognised in the financial statements.

There are no key assumptions concerning the future and other key sources of estimation uncertainty at the reporting date that have a significant risk of causing material adjustment to the carrying amounts of assets and liabilities within the next financial year.

RHYTHM TIME LTD (REGISTERED NUMBER: 08871875)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2024

2. ACCOUNTING POLICIES - continued

Turnover
Turnover is measured at the fair value of the consideration received or receivable net of VAT and trade discounts. The policies adopted for the recognition of turnover are as follows:

Sale of goods

Turnover from the sale of goods is recognised when significant risks and rewards of ownership of the goods have transferred to the buyer, the amount of turnover can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transaction can be measured reliably. This is usually on dispatch of the goods.

Rendering of services

When the outcome of a transaction can be estimated reliably, turnover from franchisee support services is recognised by reference to the stage of completion at the balance sheet date. Stage of completion is measured by reference to contract detail.

Where the outcome cannot be measured reliably, turnover is recognised only to the extent of the expenses recognised that are recoverable.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2019, is being amortised evenly over its estimated useful life of ten years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Computer software is being amortised evenly over its estimated useful life of five years.

Tangible fixed assets
Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.

Depreciation is provided on all tangible fixed assets, at rates calculated to write off the cost, less estimated residual value, of each asset on a systematic basis over its expected useful life as follows:

Fixtures and fittings - 25% on reducing balance

RHYTHM TIME LTD (REGISTERED NUMBER: 08871875)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2024

2. ACCOUNTING POLICIES - continued

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving stock.

Cost is calculated using the first-in, first-out method and includes all purchase, transport and handling costs in bringing stocks to their present location and condition.

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.

Research and development
Expenditure on research and development is written off in the year in which it is incurred.


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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2023 - 5 ) .

RHYTHM TIME LTD (REGISTERED NUMBER: 08871875)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2024

4. INTANGIBLE FIXED ASSETS
Other
intangible
Goodwill assets Totals
£    £    £   
COST
At 1 February 2023
and 31 January 2024 223,022 2,750 225,772
AMORTISATION
At 1 February 2023 70,827 1,682 72,509
Charge for year 22,302 550 22,852
At 31 January 2024 93,129 2,232 95,361
NET BOOK VALUE
At 31 January 2024 129,893 518 130,411
At 31 January 2023 152,195 1,068 153,263

5. TANGIBLE FIXED ASSETS
Fixtures
and
fittings
£   
COST
At 1 February 2023
and 31 January 2024 3,781
DEPRECIATION
At 1 February 2023 2,184
Charge for year 399
At 31 January 2024 2,583
NET BOOK VALUE
At 31 January 2024 1,198
At 31 January 2023 1,597

RHYTHM TIME LTD (REGISTERED NUMBER: 08871875)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2024

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.24 31.1.23
£    £   
Trade debtors 962 5,349
Other debtors 4,668 4,764
Directors' current accounts 14,292 5,246
Tax 8,500 8,500
Prepayments and accrued income 18,338 23,833
46,760 47,692

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.24 31.1.23
£    £   
Bank loans and overdrafts 21,095 13,680
Trade creditors 10,502 17,468
Corporation tax 2,567 2,190
VAT 24,722 29,863
Other creditors 19,389 19,490
Accruals and deferred income 1,750 1,680
80,025 84,371

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.1.24 31.1.23
£    £   
Bank loans - 1-2 years 21,095 64,206
Bank loans - 2-5 years 34,221 7,640
Other loans - 1-2 years 101,729 101,729
157,045 173,575

9. SECURED DEBTS

The following secured debts are included within creditors:

31.1.24 31.1.23
£    £   
Other loans 101,729 101,729

RHYTHM TIME LTD (REGISTERED NUMBER: 08871875)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2024

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.1.24 31.1.23
value: £    £   
100 Ordinary £1 100 100