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ITS TIME FOR WATCH LTD

Registered Number
11429717
(England and Wales)

Unaudited Financial Statements for the Year ended
30 June 2024

ITS TIME FOR WATCH LTD
Company Information
for the year from 1 July 2023 to 30 June 2024

Directors

YIGIT, Selin
YIGIT, Yuksel

Registered Address

2 Union Street
Brighton
BN1 1HA

Registered Number

11429717 (England and Wales)
ITS TIME FOR WATCH LTD
Balance Sheet as at
30 June 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets39,433736
9,433736
Current assets
Stocks672,039365,510
Cash at bank and on hand10,6402,005
682,679367,515
Creditors amounts falling due within one year4(426,392)(182,980)
Net current assets (liabilities)256,287184,535
Total assets less current liabilities265,720185,271
Creditors amounts falling due after one year(38,585)(38,585)
Net assets227,135146,686
Capital and reserves
Called up share capital100100
Profit and loss account227,035146,586
Shareholders' funds227,135146,686
The financial statements were approved and authorised for issue by the Board of Directors on 28 March 2025, and are signed on its behalf by:
YIGIT, Selin
Director
YIGIT, Yuksel
Director

Registered Company No. 11429717
ITS TIME FOR WATCH LTD
Notes to the Financial Statements
for the year ended 30 June 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
Revenue from sale of goods
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.
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:

Straight line (years)
Plant and machinery5
Office Equipment4
Stocks and work in progress
Inventories are valued at the lower of cost and estimated selling price (less any associated costs to enable such sales to complete).
2.Average number of employees

20242023
Average number of employees during the year21
3.Tangible fixed assets

Total

£
Cost or valuation
At 01 July 231,107
Additions9,756
At 30 June 2410,863
Depreciation and impairment
At 01 July 23371
Charge for year1,059
At 30 June 241,431
Net book value
At 30 June 249,433
At 30 June 23736
4.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables15,0775,261
Bank borrowings and overdrafts3,4454,692
Taxation and social security115,04968,579
Other creditors292,821104,448
Total426,392182,980
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.