REGISTERED NUMBER: 06218705 (England and Wales)

Abridged Unaudited Financial Statements for the Year Ended 31 December 2024

for

The Timebank (UK) Limited

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

4

Directors:

D W Davies

C I N Ferguson

Registered office:

4-5 High Town

Hereford

Herefordshire

HR1 2AA

Registered number:

06218705 (England and Wales)

FIXED ASSETS

Intangible assets

5

35,000

15,000

Tangible assets

6

17,745

24,277

52,745

39,277

CURRENT ASSETS

Debtors

428,486

462,470

Cash at bank

95,561

142,996

524,047

605,466

CREDITORS

Amounts falling due within one year

(317,056

)

(287,173

)

NET CURRENT ASSETS

206,991

318,293

TOTAL ASSETS LESS CURRENT LIABILITIES

259,736

357,570

CREDITORS

Amounts falling due after more than one year

(19,586

)

(81,991

)

PROVISIONS FOR LIABILITIES

(2,674

)

(4,194

)

NET ASSETS

237,476

271,385

CAPITAL AND RESERVES

Called up share capital

8

200

200

Share premium

149,950

149,950

Retained earnings

87,326

121,235

SHAREHOLDERS' FUNDS

237,476

271,385

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.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 31 December 2024 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 26 September 2025 and were signed on its behalf by:

D W Davies - Director

1.	STATUTORY INFORMATION

The Timebank (UK) 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.

2.	STATEMENT OF COMPLIANCE

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.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared under the historical cost convention.

Turnover

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

Intangible assets

No amortization is provided on Software Development costs until the project is completed and the asset is brought into use.

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

-

25% on reducing balance

Fixtures and fittings

-

25% on reducing balance

Motor vehicles

-

25% on cost

Office equipment

-

25% on reducing balance

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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 year 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.

Research and development

Expenditure on research and development is written off in the year in which it is incurred.

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.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 50 (2023 - 39 ) .

5.	INTANGIBLE FIXED ASSETS

Totals

£

Cost

At 1 January 2024

15,000

Additions

20,000

At 31 December 2024

35,000

Net book value

At 31 December 2024

35,000

At 31 December 2023

15,000

6.	TANGIBLE FIXED ASSETS

Totals

£

Cost

At 1 January 2024

and 31 December 2024

98,269

Depreciation

At 1 January 2024

73,992

Charge for year

6,532

At 31 December 2024

80,524

Net book value

At 31 December 2024

17,745

At 31 December 2023

24,277

7.	SECURED DEBTS

The following secured debts are included within creditors:

2024

2023

£

£

Other loans

108,177

184,915

The loans have been secured by a fixed and floating charge on all the property of the company.

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2024

2023

value:

£

£

49

Ordinary

£1

49

49

151

Ordinary A

£1

151

151

200

200

9.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 December 2024 and 31 December 2023:

2024

2023

£

£

D W Davies

Balance outstanding at start of year

229,066

191,905

Amounts advanced

82,087

37,161

Amounts repaid

(119,962

)

-

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

191,191

229,066