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Registered number: 08563176
Time LS Ltd
Financial Statements
For The Year Ended 30 June 2025
Newman Morris Ltd
Contents
Page
Accountants' Report 1
Balance Sheet 2—3
Notes to the Financial Statements 4—6
Page 1
Accountants' Report
Chartered Accountants' report to the director on the preparation of the unaudited statutory accounts of Time LS Ltd for the year ended 30 June 2025
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Time LS Ltd for the year ended 30 June 2025 which comprise the Profit and Loss Account, the Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given to us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at http://www.icaew.com/en/membership/regulations-standards-and-guidance.
This report is made solely to the director of Time LS Ltd , as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Time LS Ltd and state those matters that we have agreed to state to the director of Time LS Ltd , as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Time LS Ltd and its director, as a body, for our work or for this report.
It is your duty to ensure that Time LS Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit or loss of Time LS Ltd . You consider that Time LS Ltd is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit of the accounts of Time LS Ltd . For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the financial statements.
Signed
10/09/2025
Newman Morris Ltd
Chartered Accountants
Wellington House
273-275 High Street
London Colney
Hertfordshire
AL2 1HA
Page 1
Page 2
Balance Sheet
Registered number: 08563176
2025 2024
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 687 -
Investments 5 50 50
737 50
CURRENT ASSETS
Debtors 6 2,950 5,172
Cash at bank and in hand 71,404 55,120
74,354 60,292
Creditors: Amounts Falling Due Within One Year 7 (23,841 ) (20,702 )
NET CURRENT ASSETS (LIABILITIES) 50,513 39,590
TOTAL ASSETS LESS CURRENT LIABILITIES 51,250 39,640
NET ASSETS 51,250 39,640
CAPITAL AND RESERVES
Called up share capital 8 10 10
Profit and Loss Account 51,240 39,630
SHAREHOLDERS' FUNDS 51,250 39,640
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Page 3
For the year ending 30 June 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has 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.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Andrew Pascal
Director
10/09/2025
The notes on pages 4 to 6 form part of these financial statements.
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Page 4
Notes to the Financial Statements
1. General Information
Time LS Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 08563176 . The registered office is 26 Willoughby Close, Dunstable, England, LU6 3TF.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 20% Straight Line
Computer Equipment 25% Straight Line
2.4. Taxation
Income tax expense represents the sum of the tax currently payable.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Current tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current tax is also recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 1 (2024: 1)
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4. Tangible Assets
Plant & Machinery Computer Equipment Total
£ £ £
Cost
As at 1 July 2024 946 884 1,830
Additions - 916 916
As at 30 June 2025 946 1,800 2,746
Depreciation
As at 1 July 2024 946 884 1,830
Provided during the period - 229 229
As at 30 June 2025 946 1,113 2,059
Net Book Value
As at 30 June 2025 - 687 687
As at 1 July 2024 - - -
5. Investments
Associates
£
Cost
As at 1 July 2024 50
As at 30 June 2025 50
Provision
As at 1 July 2024 -
As at 30 June 2025 -
Net Book Value
As at 30 June 2025 50
As at 1 July 2024 50
6. Debtors
2025 2024
£ £
Due within one year
Trade debtors 1,246 3,646
Other debtors 1,704 1,526
2,950 5,172
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7. Creditors: Amounts Falling Due Within One Year
2025 2024
£ £
Trade creditors 1 760
Bank loans and overdrafts - 1,222
Amounts owed to participating interests 50 50
Other creditors 5,669 4,258
Taxation and social security 18,121 14,412
23,841 20,702
8. Share Capital
2025 2024
£ £
Allotted, Called up and fully paid 10 10
9. Related Party Transactions
At the year end there was an amount due to a director included in creditors of £588 (2024: £536).
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