Company Registration No. 4462565 (England and Wales)
Timecharter Limited
Unaudited accounts
for the year ended 30 June 2024
Timecharter Limited
Unaudited accounts
Contents
Timecharter Limited
Company Information
for the year ended 30 June 2024
Company Number
4462565 (England and Wales)
Registered Office
71-75 SHELTON STREET
COVENT GARDEN
LONDON
WC2H 9JQ
UNITED KINGDOM
Accountants
RFM Associates
10 Carew Way
Watford
WD19 5GB
Timecharter Limited
Statement of financial position
as at 30 June 2024
Investment property
1,350,000
1,350,000
Cash at bank and in hand
73,693
170,806
Creditors: amounts falling due within one year
(193,012)
(299,821)
Net current liabilities
(119,319)
(129,015)
Total assets less current liabilities
1,230,681
1,220,985
Creditors: amounts falling due after more than one year
(779,255)
(779,255)
Provisions for liabilities
Deferred tax
(11,517)
(11,517)
Net assets
439,909
430,213
Called up share capital
100
100
Profit and loss account
439,809
430,113
Shareholders' funds
439,909
430,213
For the year ending 30 June 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 28 February 2024 and were signed on its behalf by
Jeremy Gee
Director
Company Registration No. 4462565
Timecharter Limited
Notes to the Accounts
for the year ended 30 June 2024
Timecharter Limited is a private company, limited by shares, registered in England and Wales, registration number 4462565. The registered office is 71-75 SHELTON STREET, COVENT GARDEN, LONDON, WC2H 9JQ, 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.
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.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
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:
Fixtures & fittings
25% reducing balance basis
4
Tangible fixed assets
Fixtures & fittings
Fair value at 1 July 2023
1,350,000
Investment Properties consist of Commercial Properties.
The fair value of the investment properties have been arrived at on the basis of valuation
carried out at the year end by the director.
The valuation was made on the fair value basis by reference to market evidence of values for similar properties.
Timecharter Limited
Notes to the Accounts
for the year ended 30 June 2024
6
Creditors: amounts falling due within one year
2024
2023
Bank loans and overdrafts
2,405
993
Taxes and social security
2,274
452
Other creditors
5,019
4,500
Loans from directors
183,314
293,876
7
Creditors: amounts falling due after more than one year
2024
2023
Bank loans
779,255
779,255
The Mortgages are secured against the Investment Properties.
8
Transactions with related parties
Dividends totalling £nil (2023 £38,000) were paid to the director in respect of his shareholding.
At the balance sheet date £177817 (2023 £293876) remains due to the director and is included in creditors due within one year.
9
Average number of employees
During the year the average number of employees was 1 (2023: 1).