REGISTERED NUMBER: 04841439 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE PERIOD 1 AUGUST 2023 TO 29 JULY 2024

FOR

TIMETRUST LTD

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

DIRECTOR:

P Schreiber

SECRETARY:

A Schreiber

REGISTERED OFFICE:

115 Craven Park Road

South Tottenham

London

N15 6BL

REGISTERED NUMBER:

04841439 (England and Wales)

ACCOUNTANTS:

Venitt and Greaves

Chartered Accountants

115 Craven Park Road

South Tottenham

London

N15 6BL

FIXED ASSETS

Tangible assets

4

587

691

Investment property

5

2,477,375

2,477,375

2,477,962

2,478,066

CURRENT ASSETS

Debtors

6

22,991

74,298

Cash at bank

81

347

23,072

74,645

CREDITORS

Amounts falling due within one year

7

(443,567

)

(559,123

)

NET CURRENT LIABILITIES

(420,495

)

(484,478

)

TOTAL ASSETS LESS CURRENT LIABILITIES

2,057,467

1,993,588

CREDITORS

Amounts falling due after more than one year

8

(1,574,491

)

(1,509,557

)

PROVISIONS FOR LIABILITIES

(48,830

)

(48,830

)

NET ASSETS

434,146

435,201

CAPITAL AND RESERVES

Called up share capital

10

1

1

Revaluation reserve

11

753,985

753,985

Retained earnings

11

(319,840

)

(318,785

)

SHAREHOLDERS' FUNDS

434,146

435,201

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 29 July 2024.

The members have not required the company to obtain an audit of its financial statements for the period ended 29 July 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 3 October 2025 and were signed by:

P Schreiber - Director

1.	STATUTORY INFORMATION

Timetrust Ltd 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 as modified by the revaluation of certain assets.

Turnover

Turnover represents net rent receivable, excluding value added tax.

Tangible fixed assets

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

Fixtures and fittings

-

15% on reducing balance

Investment property

Investment properties are properties held to earn rental income or for capital appreciation or for both.

Investment properties are recognised initially at cost.

Subsequent to initial recognition:

a. Investment properties whose fair value can be measured reliably without undue cost or effort are held at fair value. Any gains or losses arising from change in fair value are recognised in profit or loss in the period that they arise; and

b. no depreciation is provided in respect of investment properties applying the fair value model.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the period was 3 (2023 - 3 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

and

fittings

£

COST

At 1 August 2023

and 29 July 2024

9,583

DEPRECIATION

At 1 August 2023

8,892

Charge for period

104

At 29 July 2024

8,996

NET BOOK VALUE

At 29 July 2024

587

At 31 July 2023

691

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 August 2023

and 29 July 2024

2,477,375

NET BOOK VALUE

At 29 July 2024

2,477,375

At 31 July 2023

2,477,375

Fair value at 29 July 2024 is represented by:

£

Valuation in 2017

545,815

Valuation in 2020

257,000

Cost

1,674,560

2,477,375

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

29.7.24

31.7.23

£

£

Trade debtors

10,551

61,858

Other debtors

12,440

12,440

22,991

74,298

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

29.7.24

31.7.23

£

£

Other creditors

443,567

559,123

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

29.7.24

31.7.23

£

£

Bank loans

1,525,667

1,461,451

Other creditors

48,824

48,106

1,574,491

1,509,557

Amounts falling due in more than five years:

Repayable otherwise than by instalments

Bank loans more 5 yrs non-inst

1,525,667

1,461,451

Repayable by instalments

Other loans more 5yrs instal

48,824

48,106

9.	SECURED DEBTS

The following secured debts are included within creditors:

29.7.24

31.7.23

£

£

Bank loans

1,525,667

1,461,451

Other loans

48,824

48,106

1,574,491

1,509,557

1. Long term bank loan is secured by first charge over the company's investment property.

2. Under the bank loan, £48,824 was received under Bounce back Loan Scheme (BBL). The loan is unsecured, interest free for the first year, then capped at 2.5% afterwards and backed by HM Government.

10.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

29.7.24

31.7.23

value:

£

£

1

Ordinary

£1

1

1

11.

RESERVES

Retained

Revaluation

earnings

reserve

Totals

£

£

£

At 1 August 2023

(318,785

)

753,985

435,200

Deficit for the period

(1,055

)

(1,055

)

At 29 July 2024

(319,840

)

753,985

434,145

12.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is P Schreiber.