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COMPANY REGISTRATION NUMBER: NI057260

Time Associates (Ireland) Limited

Filleted Unaudited Financial Statements

31 December 2024

Time Associates (Ireland) Limited

Statement of Financial Position

31 December 2024

| 2024 | 2023
Note | £ | £ | £

Current assets

Debtors | 6 | – |  | 1,152

Creditors: amounts falling due within one year | 7 | – |  | 1,152

Capital and reserves

Called up share capital | 8 |  | 3 | 3
Profit and loss account |  | ( 3) | ( 3)
|  | ---- | ----
Shareholders funds |  | – | –
|  | ---- | ----

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
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.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 16 September 2025 , and are signed on behalf of the board by:

Mrs Louise Heaney
Director

Company registration number: NI057260

Time Associates (Ireland) Limited

Notes to the Financial Statements

Year ended 31 December 2024
1. General information
The company is a private company limited by shares, registered in Northern Ireland. The address of the registered office is Flannigan Edmonds Bannon, 26 Linenhall Street, Linenhall Exchange, Belfast, BT2 8BG.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and measured at fair value through profit or loss. The financial statements are prepared in sterling, which is the functional currency of the entity.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:

| Amortisation of Goodwill | - | 6% straight line

If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

| Depreciation of IT Equipment | - | 20% straight line
| Depreciation of Fixtures & Fittings | - | 20% straight line
| Depreciation of Motor Vehicles | - | 25% reducing balance
| Depreciation of Equipment | - | 20% straight line

Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
4. Intangible assets

| Goodwill
| £
Cost |
At 1 January 2024 and 31 December 2024 | 300,000
| ---------
Amortisation |
At 1 January 2024 and 31 December 2024 | 300,000
| ---------
Carrying amount |
At 31 December 2024 | –
| ---------
At 31 December 2023 | –
| ---------

5. Tangible assets

| IT Equipment | Fixtures and fittings | Motor vehicles | Equipment | Total
| £ | £ | £ | £ | £
Cost |  |  |  |  |
At 1 January 2024 and 31 December 2024 | 17,680 | 4,094 | 17,495 | 43,371 | 82,640
| -------- | ------- | -------- | -------- | --------
Depreciation |  |  |  |  |
At 1 January 2024 and 31 December 2024 | 17,680 | 4,094 | 17,495 | 43,371 | 82,640
| -------- | ------- | -------- | -------- | --------
Carrying amount |  |  |  |  |
At 31 December 2024 | – | – | – | – | –
| -------- | ------- | -------- | -------- | --------
At 31 December 2023 | – | – | – | – | –
| -------- | ------- | -------- | -------- | --------

6. Debtors

| 2024 | 2023
| £ | £
Other debtors | – | 1,152
| ---- | -------

7. Creditors: amounts falling due within one year

| 2024 | 2023
| £ | £
Other creditors | – | 1,152
| ---- | -------

8. Called up share capital
Issued, called up and fully paid

| 2024 | 2023
| No. | £ | No. | £
Ordinary shares of £ 1 each | 3 | 3 | 3 | 3
| ---- | ---- | ---- | ----

9. Directors' advances, credits and guarantees
10. Related party transactions
The company was under the common control of Mr F Collins, Mrs L Heaney and Mr M Magennis throughout the year. Each director owns one third of the total share capital of the company.