Timrick Limited

Contents

Company Information	1
Accountants' Report	2
Balance Sheet	3
Notes to the Unaudited Financial Statements	4 to 9

Timrick Limited

Company Information

Directors

Mr P J Brown Mr R J Brown

Company secretary

Mrs S M Brown

Registered office

Unity Chambers 34 High East Street Dorchester Dorset DT1 1HA

Accountants

Edwards and Keeping Limited Unity Chambers 34 High East Street Dorchester Dorset DT1 1HA

Chartered Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
Timrick Limitedfor the Year Ended 31 March 2025

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Timrick Limited for the year ended 31 March 2025 as set out on pages 3 to 9 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at
http://www.icaew.com/regulation.

This report is made solely to the Board of Directors of Timrick Limited, as a body, in accordance with the terms of our engagement letter dated 6 September 2024. Our work has been undertaken solely to prepare for your approval the accounts of Timrick Limited and state those matters that we have agreed to state to the Board of Directors of Timrick Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Timrick Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Timrick Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Timrick Limited. You consider that Timrick Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of Timrick Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

Edwards and Keeping Limited
Unity Chambers
34 High East Street
Dorchester
Dorset
DT1 1HA

17 September 2025

Timrick Limited

(Registration number: 06497625)
Balance Sheet as at 31 March 2025

	Note	2025 £	2024 £
Fixed assets
Intangible assets	4	2,089	4,174
Tangible assets	5	5,278	4,689
		7,367	8,863
Current assets
Stocks	6	1,812	3,788
Debtors	7	7,940	8,130
		9,752	11,918
Creditors: Amounts falling due within one year	8	(14,630)	(18,973)
Net current liabilities		(4,878)	(7,055)
Total assets less current liabilities		2,489	1,808
Provisions for liabilities		(1,003)	(891)
Net assets		1,486	917
Capital and reserves
Called up share capital		4	4
Retained earnings		1,482	913
Shareholders' funds		1,486	917

For the financial year ending 31 March 2025 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 accounts for the year in question in accordance with section 476; and
•	The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 15 September 2025 and signed on its behalf by:
 

Mr P J Brown Director

Mr R J Brown Director

Timrick Limited

Notes to the Unaudited Financial Statements
for the Year Ended 31 March 2025

1	General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Unity Chambers
34 High East Street
Dorchester
Dorset
DT1 1HA
England

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis. The Directors have assessed the Company's position and have agreed to support the Company in meeting its' debts as they fall due.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in the profit and
loss account, except that a change attributable to an item of income or expense recognised as other
comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Timrick Limited

Notes to the Unaudited Financial Statements
for the Year Ended 31 March 2025

Deferred tax is recognised on timing differences arising between the tax bases of assets and liabilities
and their carrying amounts in the financial statements and on unused tax losses or tax credits in the
company. Deferred tax is determined using tax rates and laws that have been enacted or
substantively enacted by the reporting date.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation
allowance is set up against deferred tax assets so that the net carrying amount equals the highest
amount that is more likely than not to be recovered based on current or future taxable profit.

Deferred tax liabilities are presented within provisions for liabilities on the balance sheet.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Plant and Machinery	20% of written down value

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class	Amortisation method and rate
Goodwill	Written off over useful life of 10 years

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Timrick Limited

Notes to the Unaudited Financial Statements
for the Year Ended 31 March 2025

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 3 (2024 - 3).

Timrick Limited

Notes to the Unaudited Financial Statements
for the Year Ended 31 March 2025

4	Intangible assets

	Goodwill  £	Total £
Cost or valuation
At 1 April 2024	35,000	35,000
At 31 March 2025	35,000	35,000
Amortisation
At 1 April 2024	30,826	30,826
Amortisation charge	2,085	2,085
At 31 March 2025	32,911	32,911
Carrying amount
At 31 March 2025	2,089	2,089
At 31 March 2024	4,174	4,174

5	Tangible assets

	Plant and Machinery  £	Total £
Cost or valuation
At 1 April 2024	19,902	19,902
Additions	1,630	1,630
At 31 March 2025	21,532	21,532
Depreciation
At 1 April 2024	15,213	15,213
Charge for the year	1,041	1,041
At 31 March 2025	16,254	16,254
Carrying amount
At 31 March 2025	5,278	5,278
At 31 March 2024	4,689	4,689

6

Stocks

	2025 £	2024 £
Raw materials and consumables	1,812	3,788

7

Debtors

Timrick Limited

Notes to the Unaudited Financial Statements
for the Year Ended 31 March 2025

Current	2025 £	2024 £
Trade debtors	1,008	162
Prepayments	1,056	981
Other debtors	5,876	6,987
	7,940	8,130

8

Creditors

Creditors: amounts falling due within one year

	Note	2025 £	2024 £
Due within one year
Loans and borrowings	9	3,494	12,297
Trade creditors		1,315	1,811
Taxation and social security		5,907	2,592
Accruals and deferred income		2,843	1,273
Other creditors		1,071	1,000
		14,630	18,973

9	Loans and borrowings

Current loans and borrowings

	2025 £	2024 £
Bank overdrafts	3,494	12,297

Timrick Limited

Notes to the Unaudited Financial Statements
for the Year Ended 31 March 2025

10	Related party transactions

Transactions with directors

2025	At 1 April 2024 £	Advances to director £	Repayments by director £	At 31 March 2025 £
Mr P J Brown
Loan account, repayable on demand	(391)	10,409	(6,091)	3,927
Mr R J Brown
Loan account, repayable on demand	6,987	30,000	(35,490)	1,497

2024	At 1 April 2023 £	Advances to director £	Repayments by director £	At 31 March 2024 £
Mr P J Brown
Loan account, repayable on demand	7,235	16,824	(24,450)	(391)
Mr R J Brown
Loan account, repayable on demand	1,597	31,888	(26,498)	6,987