| T Times Two Ltd |
| Registered number: |
03481380 |
| Balance Sheet |
| as at 31 December 2024 |
|
| Notes |
|
|
2024 |
|
|
2023 |
| £ |
£ |
| Fixed assets |
| Tangible assets |
3 |
|
|
1,595 |
|
|
1,260 |
|
| Current assets |
| Stocks |
|
|
41,804 |
|
|
51,615 |
| Debtors |
4 |
|
1,170 |
|
|
885 |
| Cash at bank and in hand |
|
|
5,348 |
|
|
26,694 |
|
|
|
48,322 |
|
|
79,194 |
|
| Creditors: amounts falling due within one year |
5 |
|
(48,903) |
|
|
(65,988) |
|
| Net current (liabilities)/assets |
|
|
|
(581) |
|
|
13,206 |
|
| Net assets |
|
|
|
1,014 |
|
|
14,466 |
|
|
|
|
|
|
|
|
| Capital and reserves |
| Called up share capital |
|
|
|
1,001 |
|
|
1,001 |
| Capital redemption reserve |
|
|
|
1 |
|
|
1 |
| Profit and loss account |
|
|
|
12 |
|
|
13,464 |
|
| Shareholders' funds |
|
|
|
1,014 |
|
|
14,466 |
|
|
|
|
|
|
|
|
| The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006. |
| The members have not required the company to obtain an audit in accordance with section 476 of the Act. |
| The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. |
| The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies. |
|
|
|
|
| A T Adams |
| Director |
| Approved by the board on 7 August 2025 |
|
| T Times Two Ltd |
| Notes to the Accounts |
| for the year ended 31 December 2024 |
|
|
| 1 |
Accounting policies |
|
|
Basis of preparation |
|
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
The reporting curency is pound sterling (£). |
|
|
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 from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. |
|
|
Grants Received |
|
Income from grants is recognised using the accrual model and recognised in the profit or loss on receipt. |
|
|
Tangible fixed assets |
|
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows: |
|
|
Plant and machinery |
over 5 years |
|
|
Stocks |
|
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised. |
|
|
Creditors |
|
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method. |
|
|
Taxation |
|
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Current tax assets and liabilities are not discounted. |
|
|
Leased assets |
|
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. Rentals paid under operating leases are recognised as an expense on a straight line basis over the lease term. |
|
|
Pensions |
|
Contributions to defined contribution plans are expensed in the period to which they relate. |
|
|
| 2 |
Employees |
2024 |
|
2023 |
| Number |
Number |
|
|
Average number of persons employed by the company |
5 |
|
5 |
|
|
|
|
|
|
|
|
|
|
| 3 |
Tangible fixed assets |
|
|
|
|
|
|
|
|
Plant and machinery etc |
| £ |
|
Cost |
|
At 1 January 2024 |
18,029 |
|
Additions |
867 |
|
At 31 December 2024 |
18,896 |
|
|
|
|
|
|
|
|
|
|
Depreciation |
|
At 1 January 2024 |
16,769 |
|
Charge for the year |
532 |
|
At 31 December 2024 |
17,301 |
|
|
|
|
|
|
|
|
|
|
Net book value |
|
At 31 December 2024 |
1,595 |
|
At 31 December 2023 |
1,260 |
|
|
| 4 |
Debtors |
2024 |
|
2023 |
| £ |
£ |
|
|
Other debtors |
1,170 |
|
885 |
|
|
|
|
|
|
|
|
|
|
| 5 |
Creditors: amounts falling due within one year |
2024 |
|
2023 |
| £ |
£ |
|
|
Trade creditors |
17,590 |
|
17,533 |
|
Taxation and social security costs |
15,293 |
|
16,294 |
|
Other creditors |
16,020 |
|
32,161 |
|
|
|
|
|
|
48,903 |
|
65,988 |
|
|
|
|
|
|
|
|
|
|
| 6 |
Controlling party |
|
|
The controlling parties are Mr A T Adams (Director and Shareholder) and Mrs S Adams (Shareholder). |
|
|
| 7 |
Other information |
|
|
T Times Two Ltd is a private company limited by shares and incorporated in England. Its registered office is: |
|
29 Eggington Road |
|
Stourbridge |
|
31 Eggington Road, Stourbridge, England, DY8 4QJ |
|
West Midlands |
|
DY8 4QJ |