Company Registration No. 12215533 (England and Wales)
Of Lost Time Limited
Unaudited accounts
for the year ended 31 December 2024
Of Lost Time Limited
Unaudited accounts
Contents
Of Lost Time Limited
Company Information
for the year ended 31 December 2024
Directors
James J-P Drake
Danny Al-Khafaji
Company Number
12215533 (England and Wales)
Registered Office
Suite One, Third Floor Sovereign House
1 Albert Place
London
N3 1QB
England
Of Lost Time Limited
Statement of financial position
as at 31 December 2024
Cash at bank and in hand
277
70,676
Creditors: amounts falling due within one year
(509,312)
(470,207)
Net current liabilities
(467,907)
(375,749)
Net liabilities
(467,907)
(375,749)
Called up share capital
100
100
Profit and loss account
(468,007)
(375,849)
Shareholders' funds
(467,907)
(375,749)
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 directors acknowledge their 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 of Directors and authorised for issue on 7 August 2025 and were signed on its behalf by
James J-P Drake
Director
Company Registration No. 12215533
Of Lost Time Limited
Notes to the Accounts
for the year ended 31 December 2024
Of Lost Time Limited is a private company, limited by shares, registered in England and Wales, registration number 12215533. The registered office is Suite One, Third Floor Sovereign House, 1 Albert Place, London, N3 1QB, England.
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.
The accounts have been prepared on the going concern basis which assumes the continued support of Mr James Drake, who is a director of the company.
Amounts falling due within one year
Other debtors
40,376
14,210
5
Creditors: amounts falling due within one year
2024
2023
Trade creditors
4,819
1,413
Amounts owed to group undertakings and other participating interests
35,205
-
Taxes and social security
3,056
3,924
Loans from directors
464,672
463,170
6
Transactions with related parties
Creditors as at 31 December 2024 include an amount of £464,672 payable to Mr James Drake who is a director of the company. Other debtors as at 31 December 2024 include amounts of £17,790 from Drake Calleja Trust and £22,376 from Drake Foundation that are not-for profit companies where Mr James Drake is a director. Other creditors as at 31 December 2024 include amount of £35,205 to Future Medicine Limited which is the company under common control where Mr James Drake is a director.
Of Lost Time Limited
Notes to the Accounts
for the year ended 31 December 2024
7
Average number of employees
During the year the average number of employees was 4 (2023: 4).