Caseware UK (AP4) 2023.0.135 2023.0.135 2024-03-312024-03-31falseThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.2023-04-01falseNo description of principal activity00truetrue 08947135 2023-04-01 2024-03-31 08947135 2022-04-01 2023-03-31 08947135 2024-03-31 08947135 2023-03-31 08947135 c:Director2 2023-04-01 2024-03-31 08947135 d:Buildings d:LongLeaseholdAssets 2023-04-01 2024-03-31 08947135 d:Buildings d:LongLeaseholdAssets 2024-03-31 08947135 d:Buildings d:LongLeaseholdAssets 2023-03-31 08947135 d:PlantMachinery 2023-04-01 2024-03-31 08947135 d:PlantMachinery 2024-03-31 08947135 d:PlantMachinery 2023-03-31 08947135 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 08947135 d:OfficeEquipment 2023-04-01 2024-03-31 08947135 d:OtherPropertyPlantEquipment 2023-04-01 2024-03-31 08947135 d:OtherPropertyPlantEquipment 2024-03-31 08947135 d:OtherPropertyPlantEquipment 2023-03-31 08947135 d:OtherPropertyPlantEquipment d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 08947135 d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 08947135 d:CurrentFinancialInstruments 2024-03-31 08947135 d:CurrentFinancialInstruments 2023-03-31 08947135 d:CurrentFinancialInstruments d:WithinOneYear 2024-03-31 08947135 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 08947135 d:ShareCapital 2024-03-31 08947135 d:ShareCapital 2023-03-31 08947135 d:RetainedEarningsAccumulatedLosses 2024-03-31 08947135 d:RetainedEarningsAccumulatedLosses 2023-03-31 08947135 c:FRS102 2023-04-01 2024-03-31 08947135 c:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 08947135 c:FullAccounts 2023-04-01 2024-03-31 08947135 c:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 08947135 2 2023-04-01 2024-03-31 08947135 6 2023-04-01 2024-03-31 08947135 e:PoundSterling 2023-04-01 2024-03-31 iso4217:GBP xbrli:pure
Registered number: 08947135









TIMELESS ACQUISITIONS LTD

UNAUDITED

FINANCIAL STATEMENTS
INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MARCH 2024

 
TIMELESS ACQUISITIONS LTD
REGISTERED NUMBER: 08947135

BALANCE SHEET
AS AT 31 MARCH 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
589,196
646,219

Investments
 5 
50
50

  
589,246
646,269

Current assets
  

Stocks
  
137,008
335,141

Debtors: amounts falling due within one year
 6 
2,338,486
242,512

Cash at bank and in hand
  
2,218,072
2,001,785

  
4,693,566
2,579,438

Creditors: amounts falling due within one year
 7 
(3,373,771)
(1,562,026)

Net current assets
  
 
 
1,319,795
 
 
1,017,412

Total assets less current liabilities
  
1,909,041
1,663,681

Provisions for liabilities
  

Deferred tax
  
(96,441)
(104,229)

  
 
 
(96,441)
 
 
(104,229)

Net assets
  
1,812,600
1,559,452


Capital and reserves
  

Called up share capital 
  
1,000
1,000

Profit and loss account
  
1,811,600
1,558,452

  
1,812,600
1,559,452


Page 1

 
TIMELESS ACQUISITIONS LTD
REGISTERED NUMBER: 08947135

BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2024

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared 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 financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the profit and loss account in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 8 October 2024.




Mr M Williams
Director

The notes on pages 3 to 7 form part of these financial statements.

Page 2

 
TIMELESS ACQUISITIONS LTD
 

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

1.


General information

Timeless Acquisitions Ltd is a private company, limited by shares, domiciled in England and Wales, registration number 08947135.  The registered office is The Old Rectory, Brisley, Dereham, Norfolk, NR20 5LJ.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. 

 
2.3

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.
Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives.

Depreciation is provided on the following basis:

Buildings and improvements
-
4% to 10% straight line
Plant and machinery
-
20% straight line
Office equipment
-
33% straight line
Tractors
-
20% straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.
Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in the Profit and Loss Account.

 
2.4

Valuation of investments

Investments in unlisted Company shares, whose market value can be reliably determined, are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in the Profit and Loss Account for the period. Where market value cannot be reliably determined, such investments are stated at historic cost less impairment.

Investments in listed company shares are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in profit or loss for the period.

Page 3

 
TIMELESS ACQUISITIONS LTD
 

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

2.Accounting policies (continued)

 
2.5

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell.
At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.6

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.7

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.8

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.9

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.
Basic financial assets
Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs.
Basic financial liabilities
Basic financial liabilities, which include trade and other payables are initially measured at their transaction price after transaction costs.
Trade payables are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade payables are classified as current liabilities if the payment is due within one year.

 
2.10

Interest income

Interest income is recognised in profit or loss using the effective interest method.

Page 4

 
TIMELESS ACQUISITIONS LTD
 

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

2.Accounting policies (continued)

 
2.11

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.

 
2.12

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


3.


Employees

The average monthly number of employees, including directors, during the year was 0 (2023 - 0).

Page 5

 
TIMELESS ACQUISITIONS LTD
 

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

4.


Tangible fixed assets





Buildings and Improvement
Plant, machinery and office equipment
Tractors
Total

£
£
£
£



Cost or valuation


At 1 April 2023
969,092
143,839
14,550
1,127,481



At 31 March 2024

969,092
143,839
14,550
1,127,481



Depreciation


At 1 April 2023
335,471
131,243
14,548
481,262


Charge for the year on owned assets
52,410
4,613
-
57,023



At 31 March 2024

387,881
135,856
14,548
538,285



Net book value



At 31 March 2024
581,211
7,983
2
589,196



At 31 March 2023
633,621
12,596
2
646,219


5.


Fixed asset investments





Other fixed asset investments

£



Cost


At 1 April 2023
50



At 31 March 2024
50




Page 6

 
TIMELESS ACQUISITIONS LTD
 

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

6.


Debtors

2024
2023
£
£


Trade debtors
156,247
17,080

Other debtors
2,172,176
216,010

Prepayments and accrued income
10,063
9,422

2,338,486
242,512



7.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
55,062
113,606

Corporation tax
96,865
57,392

Other creditors
3,136,504
1,334,578

Accruals and deferred income
85,340
56,450

3,373,771
1,562,026



Page 7