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COMPANY REGISTRATION NUMBER: 10440638
Time To Deploy Ltd
Filleted Unaudited Financial Statements
31 October 2023
Time To Deploy Ltd
Financial Statements
Year ended 31 October 2023
Contents
Page
Statement of financial position
1
Notes to the financial statements
3
Time To Deploy Ltd
Statement of Financial Position
31 October 2023
2023
2022
Note
£
£
Fixed assets
Investments
5
1,175
1,175
Current assets
Debtors
6
250,021
Cash at bank and in hand
479
561
---------
----
250,500
561
Creditors: amounts falling due within one year
7
472,427
273,131
---------
---------
Net current liabilities
221,927
272,570
---------
---------
Total assets less current liabilities
( 220,752)
( 271,395)
Creditors: amounts falling due after more than one year
8
36,449
39,814
---------
---------
Net liabilities
( 257,201)
( 311,209)
---------
---------
Capital and reserves
Called up share capital
1
1
Profit and loss account
( 257,202)
( 311,210)
---------
---------
Shareholders deficit
( 257,201)
( 311,209)
---------
---------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 31 October 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Time To Deploy Ltd
Statement of Financial Position (continued)
31 October 2023
These financial statements were approved by the board of directors and authorised for issue on 30 October 2024 , and are signed on behalf of the board by:
H R Heneage
Director
Company registration number: 10440638
Time To Deploy Ltd
Notes to the Financial Statements
Year ended 31 October 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Camburgh House, 27 New Dover Road, Canterbury, Kent, CT1 3DN, United Kingdom.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
The accounts have been prepared on a going concern basis which relies upon the continuing support of the director.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Foreign currencies
Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.
Investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
Financial instruments
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses. Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment. If an arrangement constitutes a finance transaction it is measured at present value.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 1 (2022: 1 ).
5. Investments
Other investments other than loans
£
Cost
At 1 November 2022 and 31 October 2023
1,175
-------
Impairment
At 1 November 2022 and 31 October 2023
-------
Carrying amount
At 31 October 2023
1,175
-------
At 31 October 2022
1,175
-------
6. Debtors
2023
2022
£
£
Other debtors
250,021
---------
----
7. Creditors: amounts falling due within one year
2023
2022
£
£
Other creditors
472,427
273,131
---------
---------
8. Creditors: amounts falling due after more than one year
2023
2022
£
£
Bank loans and overdrafts
36,449
39,814
--------
--------
9. Related party transactions
At the year end the company owed the director £469,359 (2022: £270,063). At the year end the company owed £2,268 (2022: £2,268 ) to a company associated by common control.