Registered number
10124102
Timor Enterprises Limited
Filleted Accounts
30 April 2024
Timor Enterprises Limited
Registered number: 10124102
Balance Sheet
as at 30 April 2024
Notes 2024 2023
£ £
Fixed assets
Intangible assets 3 76,667 84,333
Tangible assets 4 30,011 3,282
106,678 87,615
Current assets
Stocks 41,000 41,000
Debtors 5 20,015 20,015
Cash at bank and in hand 20,142 15,176
81,157 76,191
Creditors: amounts falling due within one year 6 (22,763) (11,823)
Net current assets 58,394 64,368
Total assets less current liabilities 165,072 151,983
Creditors: amounts falling due after more than one year 7 (195,215) (181,222)
Net liabilities (30,143) (29,239)
Capital and reserves
Called up share capital 1 1
Profit and loss account (30,144) (29,240)
Shareholder's funds (30,143) (29,239)
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Thirunavukkarasu Kattavachi Shanmugam
Director
Approved by the board on 4 January 2025
Timor Enterprises Limited
Notes to the Accounts
for the year ended 30 April 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
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 from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Freehold buildings over 50 years
Leasehold land and buildings over the lease term
Plant and machinery 20% Red Bal
Fixtures, fittings, tools and equipment 20% Red Bal
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 2 3
3 Intangible fixed assets £
Goodwill:
Cost
At 1 May 2023 115,000
At 30 April 2024 115,000
Amortisation
At 1 May 2023 30,667
Provided during the year 7,666
At 30 April 2024 38,333
Net book value
At 30 April 2024 76,667
At 30 April 2023 84,333
Goodwill is amortised over period of 15 years from 2019-20 Financial Year
4 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 May 2023 9,879 1,200 11,079
Additions 1,676 31,655 33,331
At 30 April 2024 11,555 32,855 44,410
Depreciation
At 1 May 2023 6,866 931 7,797
Charge for the year 850 5,752 6,602
At 30 April 2024 7,716 6,683 14,399
Net book value
At 30 April 2024 3,839 26,172 30,011
At 30 April 2023 3,013 269 3,282
5 Debtors 2024 2023
£ £
Other debtors 20,015 20,015
6 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors 11,820 1,623
Taxation and social security costs 4,308 4,313
Other creditors 6,635 5,887
22,763 11,823
7 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 20,905 30,855
Obligations under finance lease and hire purchase contracts 23,943 -
Other creditors 150,367 150,367
195,215 181,222
8 Contingent liabilities
Mr Thirunavukkarasu Kattavachi Shanmugam is the ultimate controlling party by virtue of holding 100% Share Capital and being the only director.
9 Related party transactions
Mr. T Shanmugam is owed an Unsecured Director's Loan of £154,620 (£150,367- 2023). During the year he has withdrawn £12,570 as director's salary.
10 Controlling party
Mr Thirunavukkarasu Kattavachi Shanmugam is the ultimate controlling party by virtue of holding 100% Share Capital and being the only director.
11 Other information
Timor Enterprises Limited is a private company limited by shares and incorporated in England. Its registered office is:
238 Mitcham Road
Croydon
CR0 3JL
Timor Enterprises Limited 10124102 false 2023-05-01 2024-04-30 2024-04-30 VT Final Accounts July 2024 Thirunavukkarasu Kattavachi Shanmugam No description of principal activity 10124102 2022-05-01 2023-04-30 10124102 core:WithinOneYear 2023-04-30 10124102 core:AfterOneYear 2023-04-30 10124102 core:ShareCapital 2023-04-30 10124102 core:RetainedEarningsAccumulatedLosses 2023-04-30 10124102 2023-05-01 2024-04-30 10124102 bus:PrivateLimitedCompanyLtd 2023-05-01 2024-04-30 10124102 bus:AuditExemptWithAccountantsReport 2023-05-01 2024-04-30 10124102 bus:Director40 2023-05-01 2024-04-30 10124102 1 2023-05-01 2024-04-30 10124102 2 2023-05-01 2024-04-30 10124102 core:Goodwill 2023-05-01 2024-04-30 10124102 core:PlantMachinery 2023-05-01 2024-04-30 10124102 core:Vehicles 2023-05-01 2024-04-30 10124102 countries:England 2023-05-01 2024-04-30 10124102 bus:FRS102 2023-05-01 2024-04-30 10124102 bus:FilletedAccounts 2023-05-01 2024-04-30 10124102 2024-04-30 10124102 core:WithinOneYear 2024-04-30 10124102 core:AfterOneYear 2024-04-30 10124102 core:ShareCapital 2024-04-30 10124102 core:RetainedEarningsAccumulatedLosses 2024-04-30 10124102 core:Goodwill 2024-04-30 10124102 core:PlantMachinery 2024-04-30 10124102 core:Vehicles 2024-04-30 10124102 2023-04-30 10124102 core:Goodwill 2023-04-30 10124102 core:PlantMachinery 2023-04-30 10124102 core:Vehicles 2023-04-30 iso4217:GBP xbrli:pure