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Registered number: 11437665
Time Definite Logistics Limited
Unaudited Financial Statements
For The Year Ended 31 March 2024
Philip Deane Accountancy Ltd
Units 1 & 2 Field View
Baynards Green
Bicester
OX27 7SG
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 11437665
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 125,192 86,511
125,192 86,511
CURRENT ASSETS
Debtors 5 335,709 299,672
Cash at bank and in hand 16,282 12,558
351,991 312,230
Creditors: Amounts Falling Due Within One Year 6 (322,099 ) (239,715 )
NET CURRENT ASSETS (LIABILITIES) 29,892 72,515
TOTAL ASSETS LESS CURRENT LIABILITIES 155,084 159,026
Creditors: Amounts Falling Due After More Than One Year 7 (46,039 ) (6,500 )
NET ASSETS 109,045 152,526
CAPITAL AND RESERVES
Called up share capital 9 140 140
Profit and Loss Account 108,905 152,386
SHAREHOLDERS' FUNDS 109,045 152,526
Page 1
Page 2
For the year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Adam Ruddick
Director
18/11/2024
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Time Definite Logistics Limited is a private company, limited by shares, incorporated in England & Wales, registered number 11437665 . The registered office is Units 1&2 Field View, Baynards Green Business Park, Baynards Green, Bicester, Oxfordshire, OX27 7SG.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Motor Vehicles 20% rolling balance
Fixtures & Fittings 20% rolling balance
Computer Equipment 20% rolling balance
2.4. Leasing and Hire Purchase Contracts
Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account as incurred.
2.5. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
...CONTINUED
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Page 4
2.5. Taxation - continued
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 8 (2023: 8)
8 8
4. Tangible Assets
Motor Vehicles Computer Equipment Total
£ £ £
Cost
As at 1 April 2023 117,076 6,256 123,332
Additions 66,896 3,083 69,979
As at 31 March 2024 183,972 9,339 193,311
Depreciation
As at 1 April 2023 33,782 3,039 36,821
Provided during the period 30,038 1,260 31,298
As at 31 March 2024 63,820 4,299 68,119
Net Book Value
As at 31 March 2024 120,152 5,040 125,192
As at 1 April 2023 83,294 3,217 86,511
5. Debtors
2024 2023
£ £
Due within one year
Trade debtors 312,162 263,096
Prepayments and accrued income 978 978
Other debtors 15,295 15,795
Other debtors (2) - 622
VAT 7,274 -
Director's loan account - 13,181
335,709 293,672
Due after more than one year
Other debtors (3) - 6,000
335,709 299,672
Page 4
Page 5
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 16,031 -
Trade creditors 8,205 70,870
Corporation tax 32,729 24,676
Other taxes and social security 5,478 3,586
VAT - 6,753
Other creditors 35,534 5,177
Accruals and deferred income 223,903 128,653
Director's loan account 219 -
322,099 239,715
7. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 46,039 -
Other creditors - 6,500
46,039 6,500
8. Obligations Under Finance Leases and Hire Purchase
2024 2023
£ £
The future minimum finance lease payments are as follows:
Not later than one year 16,031 -
Later than one year and not later than five years 46,039 -
62,070 -
62,070 -
9. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 140 140
10. Directors Advances, Credits and Guarantees
Included within Debtors are the following loans to directors:
The above loan is unsecured, interest free and repayable on demand.
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