REGISTERED NUMBER: 05976462 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

ONE MINUTE TO MIDNIGHT LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

D S Dunn

P Laver

REGISTERED OFFICE:

15 West Street

Brighton

East Sussex

BN1 2RL

REGISTERED NUMBER:

05976462 (England and Wales)

ACCOUNTANTS:

Galloways Accounting (Hove) Limited

15 West Street

Brighton

East Sussex

BN1 2RL

FIXED ASSETS

Tangible assets

3

3,675

4,261

CURRENT ASSETS

Debtors

4

491,842

360,899

Cash at bank

119,556

49,263

611,398

410,162

CREDITORS

Amounts falling due within one year

5

(454,434

)

(303,194

)

NET CURRENT ASSETS

156,964

106,968

TOTAL ASSETS LESS CURRENT LIABILITIES

160,639

111,229

CREDITORS

Amounts falling due after more than one year

6

(5,545

)

(15,911

)

PROVISIONS FOR LIABILITIES

(919

)

(1,065

)

NET ASSETS

154,175

94,253

CAPITAL AND RESERVES

Called up share capital

1,000

1,000

Retained earnings

153,175

93,253

SHAREHOLDERS' FUNDS

154,175

94,253

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 15 September 2025 and were signed on its behalf by:

D S Dunn - Director

1.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover is measured at the fair value of the consideration recieved or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Computer equipment

-

33% on cost

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred taxation is provided in full on timing differences which represent a liability at the balance sheet date, at rates expected to apply when they crystallise based on current tax rates and law. Timing differences arise from the inclusion of items of income and expenditure in taxation computations in periods different from those in which they are included in financial statements. Deferred tax assets and liabilities are not discounted.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

2.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 7 (2023 - 7 ) .

3.	TANGIBLE FIXED ASSETS

Computer

equipment

£

COST

At 1 January 2024

22,157

Additions

1,845

At 31 December 2024

24,002

DEPRECIATION

At 1 January 2024

17,896

Charge for year

2,431

At 31 December 2024

20,327

NET BOOK VALUE

At 31 December 2024

3,675

At 31 December 2023

4,261

4.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade debtors

331,878

183,299

Amounts owed by group undertakings

42,184

23,584

Other debtors

84,798

73,314

Accrued income

20,925

78,426

Prepayments

12,057

2,276

491,842

360,899

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Bank loans and overdrafts

10,124

9,881

Trade creditors

165,013

119,600

Tax

155,482

54,470

Social security and other taxes

14,099

7,518

VAT

6,241

31,444

Other creditors

4,245

3,947

Pension

1,555

-

Directors' loan accounts

624

17,266

Deferred income

4,168

9,109

Accrued expenses

92,883

49,959

454,434

303,194

6.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2024

2023

£

£

Bank loans - 1-2 years

5,545

9,881

Bank loans - 2-5 years

-

6,030

5,545

15,911

7.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

During the year, P Laver decreased his loan from the company. As at 31 December 2024, the director owed the company £312 (2023: (£9,394)). This balance represented the maximum amount outstanding during the year and is being repaid during the current financial year.

During the year, D Dunn decreased his loan to the company. As at 31 December 2024, the company owed him £312 (2023: £7,872). This balance represented the maximum amount outstanding during the year and the loan is interest free and repayable on demand.

8.	RELATED PARTY DISCLOSURES

One Minute to Midnight Union Limited

As at 31 December 2024, the company was owed £403 (2023: £403) from One Minute to Midnight Union Limited. The balance is interest free and repayable on demand.

One Minute to Midnight & Counting Limited

As at 31 December 2024, the company was owed £15,377 (2023: £22,081) from One Minute to Midnight & Counting Limited. The balance is interest free and repayable on demand.

One Minute to Midnight INC

As at 31 December 2024, the company was owed £26,184 (2023: £1,100) from One Minute to Midnight INC. The balance is interest free and repayable on demand.

As at 31 December 2024, the company also owed £63,856 to One Minute to Midnight Inc for an arms length commercial sale invoice. This balance is included in trade creditors.

During the year, sales of £265,992 (2023: £171,221) where made to One Minute To Midnight INC. All transactions were undertaken on a commercial arms length basis.

9.	ULTIMATE CONTROLLING PARTY

The controlling party is D Dunn and P Laver.

This is by virtue of their equal shareholding in the reporting company's parent company, One Minute to Midnight Union Limited.