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Company Registration No. 4937654 (England and Wales)
Strict Time Ltd Unaudited accounts for the year ended 31 December 2024
Strict Time Ltd Unaudited accounts Contents
Page
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Strict Time Ltd Company Information for the year ended 31 December 2024
Director
Timothy David Oldham
Company Number
4937654 (England and Wales)
Registered Office
6 Edison Village Nottingham Science & Technology Park Nottingham Nottinghamshire NG7 2RF United Kingdom
Accountants
Archimedia Accounts 6 Edison Village Nottingham Science & Technology Park Nottingham Nottinghamshire NG72RF
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Strict Time Ltd Statement of financial position as at 31 December 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Tangible assets
2,825 
3,220 
Current assets
Cash at bank and in hand
204 
1,946 
Creditors: amounts falling due within one year
(2,908)
(2,668)
Net current liabilities
(2,704)
(722)
Total assets less current liabilities
121 
2,498 
Creditors: amounts falling due after more than one year
(7,626)
(8,686)
Provisions for liabilities
Deferred tax
(362)
- 
Net liabilities
(7,867)
(6,188)
Capital and reserves
Called up share capital
100 
100 
Profit and loss account
(7,967)
(6,288)
Shareholders' funds
(7,867)
(6,188)
For the year ending 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have 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 and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 31 January 2025 and were signed on its behalf by
Timothy David Oldham Director Company Registration No. 4937654
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Strict Time Ltd Notes to the Accounts for the year ended 31 December 2024
1
Statutory information
Strict Time Ltd is a private company, limited by shares, registered in England and Wales, registration number 4937654. The registered office is 6 Edison Village, Nottingham Science & Technology Park , Nottingham, Nottinghamshire, NG7 2RF, United Kingdom.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. 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.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
15% reducing balance
Foreign exchange
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rates of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
Deferred taxation
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.
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Strict Time Ltd Notes to the Accounts for the year ended 31 December 2024
4
Tangible fixed assets
Plant & machinery 
£ 
Cost or valuation
At cost 
At 1 January 2024
29,749 
Additions
104 
At 31 December 2024
29,853 
Depreciation
At 1 January 2024
26,529 
Charge for the year
499 
At 31 December 2024
27,028 
Net book value
At 31 December 2024
2,825 
At 31 December 2023
3,220 
5
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
Bank loans and overdrafts
1,581 
1,262 
Taxes and social security
- 
1,495 
Loans from directors
1,327 
(89)
2,908 
2,668 
6
Creditors: amounts falling due after more than one year
2024 
2023 
£ 
£ 
Bank loans
7,626 
8,686 
7
Deferred taxation
2024 
2023 
£ 
£ 
Accelerated capital allowances
362 
- 
2024 
2023 
£ 
£ 
Charged to the profit and loss account
362 
- 
Provision at end of year
362 
- 
8
Share capital
2024 
2023 
£ 
£ 
Allotted, called up and fully paid:
100 Ordinary shares of £1 each
100 
100 
9
Transactions with related parties
During the year interest free loans were made available to the business by directors of £1327 (2023 £-89)
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Strict Time Ltd Notes to the Accounts for the year ended 31 December 2024
10
Average number of employees
During the year the average number of employees was 1 (2023: 1).
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