Company No: 06112661 (England and Wales)

Contents

• Balance Sheet
• Notes to the Financial Statements

	Note	2026		2025
		£		£
Fixed assets
Tangible assets	3	30,316		36,476
Investments	4	100		100
		30,416		36,576
Current assets
Debtors	5	84,829		51,149
Cash at bank and in hand		4,499,670		3,407,958
		4,584,499		3,459,107
Creditors: amounts falling due within one year	6	( 3,675,224)		( 2,519,719)
Net current assets		909,275		939,388
Total assets less current liabilities		939,691		975,964
Net assets		939,691		975,964
Capital and reserves
Called-up share capital		1,385		1,385
Profit and loss account		938,306		974,579
Total shareholders' funds		939,691		975,964

For the financial year ending 31 March 2026 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 financial statements for the financial year in accordance with section 476;
• The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements; and
• These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Profit and Loss Account has not been delivered.

The financial statements of Time ETC Limited (registered number: 06112661) were approved and authorised for issue by the Board of Directors on 16 October 2026. They were signed on its behalf by:

B A Lashbrooke Director

1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Time ETC Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Albert Goodman, Lupin Way, Yeovil, BA22 8WW, United Kingdom. The principal place of business is 4th Floor Lyndon House, 62 Hagley Road, Edgbaston, Birmingham, B16 8PE, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Group accounts exemption

Group accounts exemption s399
The Company has taken advantage of the exemption under section 399 of the Companies Act 2006 not to prepare consolidated accounts, on the basis that the group of which this is the parent qualifies as a small group. The financial statements present information about the Company as an individual entity and not about its group.

Foreign currency

Transactions in foreign currencies are recorded at the rate of exchange at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the Balance Sheet date are reported at the rates of exchange prevailing at that date.

Exchange differences are recognised in the Profit and Loss Account in the period in which they arise.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

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, the services have been provided and specific criteria have been met for each of the company's activities.

Dividend income

Dividend income from investments is recognised when the shareholders' rights to receive payment have been established (provided that it is probable that the economic benefits will flow to the Company and the amount of revenue can be measured reliably).

Employee benefits

Defined contribution schemes
The Company operates a defined contribution scheme. The amount charged to the Profit and Loss Account in respect of pension costs and other post-retirement benefits is the contributions payable in the financial year. Differences between contributions payable in the financial year and contributions actually paid are included as either accruals or prepayments in the Balance Sheet.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date. 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.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Leasehold improvements	5 years straight line
Fixtures and fittings	5 years straight line
Office equipment	5 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Leases

The Company as lessee
Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.

Fixed asset investments

Investments are recognised initially at fair value which is normally the transaction price excluding transaction costs. Subsequently, they are measured at fair value through profit or loss if the shares are publicly traded or their fair value can otherwise be measured reliably. Other investments are measured at cost less impairment.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost. 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.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Equity instruments
Equity instruments issued by the Company are recorded at the fair value of cash or other resources received or receivable, net of direct issue costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the Company.

Ordinary share capital

The ordinary share capital of the Company is presented as equity.

2. Employees

	2026		2025
	Number		Number
Monthly average number of persons employed by the Company during the year, including directors	47		56

3. Tangible assets

	Leasehold improve- ments		Fixtures and fittings		Office equipment		Total
	£		£		£		£
Cost
At 01 April 2025	37,347		22,458		57,332		117,137
Additions	0		626		5,447		6,073
At 31 March 2026	37,347		23,084		62,779		123,210
Accumulated depreciation
At 01 April 2025	37,347		6,622		36,692		80,661
Charge for the financial year	0		3,909		8,324		12,233
At 31 March 2026	37,347		10,531		45,016		92,894
Net book value
At 31 March 2026	0		12,553		17,763		30,316
At 31 March 2025	0		15,836		20,640		36,476

4. Fixed asset investments

Investments in subsidiaries

	2026
	£
Cost
At 01 April 2025	100
At 31 March 2026	100
Carrying value at 31 March 2026	100
Carrying value at 31 March 2025	100

At the balance sheet date the company had 1 wholly owned subsidiary (2025 - 1).

5. Debtors

	2026		2025
	£		£
Trade debtors	32,422		1,539
Amounts owed by directors	50		0
Prepayments	32,337		27,665
Other debtors	20,020		21,945
	84,829		51,149

6. Creditors: amounts falling due within one year

	2026		2025
	£		£
Trade creditors	15,995		21,987
Amounts owed to own subsidiaries	3,339,921		2,222,814
Amounts owed to directors	0		15,744
Accruals	26,746		26,452
Corporation tax	119,745		59,276
Other taxation and social security	133,264		139,880
Other creditors	39,553		33,566
	3,675,224		2,519,719

Amounts owed to own subsidiaries are repayable on demand and do not bear interest.

7. Financial commitments

Commitments

Total future minimum lease payments under non-cancellable operating leases are as follows:

	2026		2025
	£		£
Within one year	81,050		54,585
Between one and five years	74,296		100,071
Total future minimum lease payments under non-cancellable operating leases	155,346		154,656

The amounts shown above are in relation to non-cancellable operating leases over the business premises.

8. Related party transactions

Transactions with entities in which the entity itself has a participating interest

The company has taken advantage of the exemption provided from disclosing transactions with its subsidiary as it is a wholly owned subsidiary.

Transactions with the entity's directors

Advances

The Directors' loan accounts are repayable on demand and interest is charged on overdrawn balances exceeding £10,000 at the official HMRC rates.

At 1 April 2025, the balance owed from the directors was £nil. During the year, £31,755 was advanced to the directors, and £31,705 was repaid by the directors. At 31 March 2026, the amount owed from the directors was £50.

At 1 April 2024, the balance owed from the directors was £4,113. During the year, £25,823 was advanced to the directors, and £29,936 was repaid by the directors. At 31 March 2025, the amount owed from the directors was £nil.