REGISTERED NUMBER: 15266384 (England and Wales)

Unaudited Financial Statements

for the Period

7 November 2023 to 30 November 2024

for

The Time Firm Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

N R Fermor

REGISTERED OFFICE:

F3 The Plaza

Rutherford Park

Great Notley

Braintree

Essex

CM77 7AU

REGISTERED NUMBER:

15266384 (England and Wales)

ACCOUNTANTS:

Berry & Company

Chartered Accountants

Sterling House

7 Ashford Road

Maidstone

Kent

ME14 5BJ

FIXED ASSETS

Tangible assets

4

3,652

CURRENT ASSETS

Debtors

5

1,230

Cash at bank and in hand

2,192

3,422

CREDITORS

Amounts falling due within one year

6

19,842

NET CURRENT LIABILITIES

(16,420

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(12,768

)

CAPITAL AND RESERVES

Called up share capital

100

Retained earnings

(12,868

)

(12,768

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 30 November 2024.

The members have not required the company to obtain an audit of its financial statements for the period ended 30 November 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 15 July 2025 and were signed by:

N R Fermor - Director

1.	STATUTORY INFORMATION

The Time Firm Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	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.

The company is reliant on the financial support of the director who has advanced the company £19,602 by way of a director's loan. The director has stated that this amount will only be called up for repayment when the company has sufficient reserves and future operating cashflows from which to repay this debt and meet all its other debts as they fall due. For this reason the director has adopted the Going Concern principle when preparing these financial statements despite liabilities exceeding assets by £12,768.

Turnover

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

Turnover represents the fair value of consideration received or receivable derived from the rendering of specialist watch services to customers during the year (excluding value added tax) and is recognised when the company becomes entitled to it, usually on the rendering of an invoice.

Tangible fixed assets

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

Plant and machinery etc

-

20% on reducing balance and 15% on reducing balance

Financial instruments

The company enters into basic financial instruments that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third parties and loans to related parties.

Basic financial instruments are recognised at amortised cost with changes recognised in profit or loss.

Taxation

Taxation for the period comprises current and deferred tax. Tax is recognised in the Income Statement, 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 tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the period end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the period was 1 .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

Additions

4,408

At 30 November 2024

4,408

DEPRECIATION

Charge for period

756

At 30 November 2024

756

NET BOOK VALUE

At 30 November 2024

3,652

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

£

Other debtors

1,230

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

£

Other creditors

19,842

7.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is N R Fermor.