Timepiece Trading Limited Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: 12133403

TIMEPIECE TRADING LIMITED

FILLETED UNAUDITED FINANCIAL STATEMENTS

FOR THE PERIOD ENDED

27 October 2025

TIMEPIECE TRADING LIMITED

STATEMENT OF FINANCIAL POSITION

27 October 2025

	27 Oct 25		28 Oct 24
Note	£	£	£	£

FIXED ASSETS

Intangible assets	6	260	325
Tangible assets	7	3,420	5,760
		-------	-------
		3,680	6,085

CURRENT ASSETS

Stocks		3,250,655	1,919,040
Debtors	8	330,393	625,151
Cash at bank and in hand		480,591	736,181
		------------	------------
		4,061,639	3,280,372

CREDITORS: amounts falling due within one year	9	( 2,169,741)		( 1,694,668)
		------------		------------
NET CURRENT ASSETS			1,891,898		1,585,704
			------------		------------
TOTAL ASSETS LESS CURRENT LIABILITIES			1,895,578		1,591,789

CREDITORS: amounts falling due after more than one year	10		( 311,337)		( 650,637)

PROVISIONS	( 855)	( 97)
	------------	------------
NET ASSETS	1,583,386	941,055
	------------	------------

CAPITAL AND RESERVES

Called up share capital	100	100
Profit and loss account	1,583,286	940,955
	------------	---------
SHAREHOLDER FUNDS	1,583,386	941,055
	------------	---------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.

TIMEPIECE TRADING LIMITED

STATEMENT OF FINANCIAL POSITION (continued)

27 October 2025

For the period ending 27 October 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

- The member has not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476 ;

- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

These financial statements were approved by the board of directors and authorised for issue on 27 July 2026 , and are signed on behalf of the board by:

J Moore
Director

Company registration number: 12133403

TIMEPIECE TRADING LIMITED

NOTES TO THE FINANCIAL STATEMENTS

PERIOD FROM 29 OCTOBER 2024 TO 27 OCTOBER 2025

1. GENERAL INFORMATION

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 20-22 Bridge End, Leeds, LS1 4DJ, United Kingdom.

2. STATEMENT OF COMPLIANCE

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. ACCOUNTING POLICIES

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Revenue recognition

Turnover comprises revenue recognised by the company in respect of goods supplied, exclusive of Value Added Tax.

Income tax

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively.

Foreign currencies

Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.

Goodwill

Goodwill arises on business acquisitions and represents the excess of the cost of the acquisition over the company's interest in the net amount of the identifiable assets, liabilities and contingent liabilities of the acquired business. Goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. It is amortised on a straight-line basis over its useful life. Where a reliable estimate of the useful life of goodwill or intangible assets cannot be made, the life is presumed not to exceed ten years.

Amortisation

Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:

	Goodwill	-	Over 20 years

If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Plant and machinery	-	15% straight line
Equipment	-	15% straight line

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.

Provisions

Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense.

Financial instruments

Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit and loss. Derivative financial instruments are initially recorded at transaction price and thereafter at fair value with changes recognised in profit and loss. The company holds the following financial assets and liabilities: Cash, Short-term trade and other debtors, and creditors. Cash in the balance sheet comprises cash at banks and in hand and short term deposits with an original maturity date of three months or less. Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account before operating profit.

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.

4. EMPLOYEE NUMBERS

The average number of persons employed by the company during the period amounted to 8 (2024: 5 ).

5. TAX ON PROFIT

Major components of tax expense

	Period from
	29 Oct 24 to	Year to
	27 Oct 25	28 Oct 24
	£	£

Current tax:

UK current tax expense	249,364	335,426

Deferred tax:

Origination and reversal of timing differences	758	–
	---------	---------
Tax on profit	250,122	335,426
	---------	---------

6. INTANGIBLE ASSETS

	Goodwill
	£
Cost
At 29 October 2024 and 27 October 2025	650
	----
Amortisation
At 29 October 2024	325
Charge for the period	65
	----
At 27 October 2025	390
	----
Carrying amount
At 27 October 2025	260
	----
At 28 October 2024	325
	----

7. TANGIBLE ASSETS

	Plant and machinery	Equipment	Total
	£	£	£
Cost
At 29 October 2024 and 27 October 2025	15,000	600	15,600
	--------	----	--------
Depreciation
At 29 October 2024	9,375	465	9,840
Charge for the period	2,250	90	2,340
	--------	----	--------
At 27 October 2025	11,625	555	12,180
	--------	----	--------
Carrying amount
At 27 October 2025	3,375	45	3,420
	--------	----	--------
At 28 October 2024	5,625	135	5,760
	--------	----	--------

8. DEBTORS

	27 Oct 25	28 Oct 24
	£	£
Trade debtors	264,518	393,144
Other debtors	65,875	232,007
	---------	---------
	330,393	625,151
	---------	---------

9. CREDITORS: amounts falling due within one year

	27 Oct 25	28 Oct 24
	£	£
Trade creditors	1,431,120	1,055,950
Corporation tax	484,798	335,426
Social security and other taxes	154,441	153,574
Other creditors	99,382	149,718
	------------	------------
	2,169,741	1,694,668
	------------	------------

10. CREDITORS: amounts falling due after more than one year

	27 Oct 25	28 Oct 24
	£	£
Bank loans and overdrafts	311,337	646,637
Other creditors	–	4,000
	---------	---------
	311,337	650,637
	---------	---------

11. EVENTS AFTER THE END OF THE REPORTING PERIOD

As at 27th October 2025 stock belonging to the company was held outside the control of the company as a result of an ongoing investigation. This stock has not been included in the valuation of closing stock held as at 27 October 2025 as the company cannot recognise an asset it does not have control over (in accordance with FRS102 Section 1A). As at the date of approval of these financial statements the company has regained control of approximately 75% of this stock following the conclusion of this investigation and the remaining stock will be returned in the coming months.