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REGISTERED NUMBER: 04375515 (England and Wales)















Unaudited Financial Statements for the Year Ended 29 February 2024

for

The Original Time 2 Talk Limited

The Original Time 2 Talk Limited (Registered number: 04375515)






Contents of the Financial Statements
for the Year Ended 29 February 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


The Original Time 2 Talk Limited

Company Information
for the Year Ended 29 February 2024







DIRECTOR: Mr S G Rowlands



REGISTERED OFFICE: 558 Middle Road
Fforestfach
SWANSEA
SA5 8EG



REGISTERED NUMBER: 04375515 (England and Wales)



ACCOUNTANTS: Ashmole & Co
First Floor
1 St John's Court
Upper Fforest Way
Enterprise Park
Swansea
SA6 8QQ



BANKERS: National Westminster Bank
Bellview Way
SWANSEA
SA1 5BX

The Original Time 2 Talk Limited (Registered number: 04375515)

Balance Sheet
29 February 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 4,589 5,162
Tangible assets 5 115,310 122,543
119,899 127,705

CURRENT ASSETS
Stocks 7,790 9,750
Debtors 6 395 1,462
Cash at bank and in hand 362,995 299,436
371,180 310,648
CREDITORS
Amounts falling due within one year 7 184,163 171,396
NET CURRENT ASSETS 187,017 139,252
TOTAL ASSETS LESS CURRENT
LIABILITIES

306,916

266,957

CREDITORS
Amounts falling due after more than one
year

8

15,401

34,104
NET ASSETS 291,515 232,853

The Original Time 2 Talk Limited (Registered number: 04375515)

Balance Sheet - continued
29 February 2024

2024 2023
Notes £    £    £    £   
CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 291,513 232,851
SHAREHOLDERS' FUNDS 291,515 232,853

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29 February 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 29 February 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 director and authorised for issue on 28 November 2024 and were signed by:





Mr S G Rowlands - Director


The Original Time 2 Talk Limited (Registered number: 04375515)

Notes to the Financial Statements
for the Year Ended 29 February 2024

1. STATUTORY INFORMATION

The Original Time 2 Talk Limited 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.

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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2002, is being amortised evenly over its estimated useful life of twenty 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.

Development costs are being amortised evenly over their estimated useful life of ten years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Improvements to property - 2% on cost
Equipment - 20% on reducing balance
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 25% on cost

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


The Original Time 2 Talk Limited (Registered number: 04375515)

Notes to the Financial Statements - continued
for the Year Ended 29 February 2024

2. ACCOUNTING POLICIES - continued
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.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

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 7 (2023 - 6 ) .

The Original Time 2 Talk Limited (Registered number: 04375515)

Notes to the Financial Statements - continued
for the Year Ended 29 February 2024

4. INTANGIBLE FIXED ASSETS
Other
intangible
Goodwill assets Totals
£    £    £   
COST
At 1 March 2023
and 29 February 2024 30,800 5,736 36,536
AMORTISATION
At 1 March 2023 30,800 574 31,374
Charge for year - 573 573
At 29 February 2024 30,800 1,147 31,947
NET BOOK VALUE
At 29 February 2024 - 4,589 4,589
At 28 February 2023 - 5,162 5,162

5. TANGIBLE FIXED ASSETS
Improvements
Freehold to
property property Equipment
£    £    £   
COST
At 1 March 2023
and 29 February 2024 83,104 18,080 23,684
DEPRECIATION
At 1 March 2023 - 5,988 22,464
Charge for year - 361 407
At 29 February 2024 - 6,349 22,871
NET BOOK VALUE
At 29 February 2024 83,104 11,731 813
At 28 February 2023 83,104 12,092 1,220

The Original Time 2 Talk Limited (Registered number: 04375515)

Notes to the Financial Statements - continued
for the Year Ended 29 February 2024

5. TANGIBLE FIXED ASSETS - continued

Fixtures
and Motor Computer
fittings vehicles equipment Totals
£    £    £    £   
COST
At 1 March 2023
and 29 February 2024 15,826 34,407 10,979 186,080
DEPRECIATION
At 1 March 2023 15,153 8,953 10,979 63,537
Charge for year 101 6,364 - 7,233
At 29 February 2024 15,254 15,317 10,979 70,770
NET BOOK VALUE
At 29 February 2024 572 19,090 - 115,310
At 28 February 2023 673 25,454 - 122,543

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 395 1,462

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 10,000 10,000
Hire purchase contracts 8,703 8,703
Trade creditors 51,487 77,169
Tax 25,532 12,282
Social security and other taxes 2,711 1,377
VAT 18,276 8,580
Other creditors 2,030 3,688
Wages Creditor 1,895 1,788
Directors' current accounts 61,309 45,839
Accrued expenses 2,220 1,970
184,163 171,396

The Original Time 2 Talk Limited (Registered number: 04375515)

Notes to the Financial Statements - continued
for the Year Ended 29 February 2024

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
2024 2023
£    £   
Bank loans - 2-5 years 12,500 22,500
Hire purchase contracts 2,901 11,604
15,401 34,104