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Registered Number: 10270348


 

 

 

IFTIME LTD


Abridged Accounts
 


Period of accounts

Start date: 01 July 2023

End date: 30 June 2024
 
 
Notes
 
2024
£
  2023
£
Current assets      
Debtors 31,319    35,760 
Cash at bank and in hand 35    (6,684)
31,354    29,076 
Creditors: amount falling due within one year (4,009)   (972)
Net current assets 27,345    28,104 
 
Total assets less current liabilities 27,345    28,104 
Creditors: amount falling due after more than one year (3,450)   (5,250)
Net assets 23,895    22,854 
 

Capital and reserves
     
Called up share capital 1    1 
Profit and loss account 23,894    22,853 
Shareholders' funds 23,895    22,854 
 


For the year ended 30 June 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The director acknowledges their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These 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 to the Registrar of Companies.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with section 444(2A).
The financial statements were approved by the director on 24 March 2025 and were signed by:


-------------------------------
Petrica IFTIME
Director
1
General Information
IFTIME LTD is a private company, limited by shares, registered in , registration number 10270348, registration address 24 MYRTLE GROVE, BEESTON NOTTINGHAM, NG9 2EP.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 102 – The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the company.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted
Dividends
Proposed dividends are only included as liabilities in the statement of financial position when their payment has been approved by the shareholders prior to the statement of financial position date.
2.

Staff Costs

2024
£
  2023
£
Other staff costs 300    175 
300    175 
 
Average number of employees during the year Number   Number
Administration 1    1 
 

3.

Average number of employees

Average number of employees during the year was 1 (2023 : 1).
2