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REGISTERED NUMBER: 13163427















Unaudited Financial Statements for the Year Ended 31st January 2024

for

NEW TIME CONSTRUCTION LTD

NEW TIME CONSTRUCTION LTD (REGISTERED NUMBER: 13163427)






Contents of the Financial Statements
FOR THE YEAR ENDED 31ST JANUARY 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


NEW TIME CONSTRUCTION LTD

Company Information
FOR THE YEAR ENDED 31ST JANUARY 2024







DIRECTOR: P S Gill





REGISTERED OFFICE: Unit A1 Blakenhall Business Park
Moorfield Road
Wolverhampton
West Midlands
WV2 4QT





REGISTERED NUMBER: 13163427





ACCOUNTANTS: Silver Arc
Chartered Certified Accountants
1 Quality Court
Chancery Lane
London
WC2A 1HR

NEW TIME CONSTRUCTION LTD (REGISTERED NUMBER: 13163427)

Balance Sheet
31ST JANUARY 2024

31/1/24 31/1/23
Notes £    £   
FIXED ASSETS
Tangible assets 4 108,594 101,122

CURRENT ASSETS
Debtors 5 348,622 276,747
Cash at bank and in hand 7,453 3,396
356,075 280,143
CREDITORS
Amounts falling due within one year 6 (233,716 ) (168,677 )
NET CURRENT ASSETS 122,359 111,466
TOTAL ASSETS LESS CURRENT
LIABILITIES

230,953

212,588

CREDITORS
Amounts falling due after more than one
year

7

(23,969

)

(36,788

)
NET ASSETS 206,984 175,800

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings 206,983 175,799
SHAREHOLDERS' FUNDS 206,984 175,800

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st January 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st January 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.

NEW TIME CONSTRUCTION LTD (REGISTERED NUMBER: 13163427)

Balance Sheet - continued
31ST JANUARY 2024


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 30th January 2025 and were signed by:





P S Gill - Director


NEW TIME CONSTRUCTION LTD (REGISTERED NUMBER: 13163427)

Notes to the Financial Statements
FOR THE YEAR ENDED 31ST JANUARY 2024

1. STATUTORY INFORMATION

New Time Construction Ltd is a private company, limited by shares , registered in Not specified/Other. 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.

Tangible fixed assets
Tangible fixed assets 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, using either a straight line or reducing balance method, as indicated below.

Depreciation is provided on the following basis:

Computer equipment - 20% straight line
Plant & Machinery - 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 profit or loss.

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.

NEW TIME CONSTRUCTION LTD (REGISTERED NUMBER: 13163427)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 31ST JANUARY 2024

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Debtors
Basic financial assets, including trade and other debtors, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Such assets are subsequently carried at amortised cost using the effective interest method, less any impairment.

Creditors
Basic financial liabilities, including trade and other creditors, loans from third parties and loans from related parties, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Such instruments are subsequently carried at amortised cost using the effective interest method, less any impairment.

Cash and cash equivalents
Cash and cash equivalents are represented by cash in hand, deposits held at call with financial institutions, and other short-term 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 20 (2023 - 9 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1st February 2023 137,192
Additions 85,026
Disposals (55,183 )
At 31st January 2024 167,035
DEPRECIATION
At 1st February 2023 36,070
Charge for year 33,407
Eliminated on disposal (11,036 )
At 31st January 2024 58,441
NET BOOK VALUE
At 31st January 2024 108,594
At 31st January 2023 101,122

NEW TIME CONSTRUCTION LTD (REGISTERED NUMBER: 13163427)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 31ST JANUARY 2024

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/1/24 31/1/23
£    £   
Trade debtors 330,870 264,717
Other debtors 17,752 12,030
348,622 276,747

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/1/24 31/1/23
£    £   
Trade creditors 109,723 34,758
Taxation and social security 42,540 24,335
Other creditors 81,453 109,584
233,716 168,677

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31/1/24 31/1/23
£    £   
Other creditors 23,969 36,788