Company No: 02782004 (England and Wales)

Contents

• Company Information
• Statement of Financial Position
• Notes to the Financial Statements

DIRECTORS	P D Skeffington
	Peter Donald Skeffington

SECRETARY

Shaw Gibbs Trust Corporation Limited

REGISTERED OFFICE	Brook House
	Mint Street
	Godalming
	GU7 1HE
	United Kingdom

COMPANY NUMBER

02782004 (England and Wales)

ACCOUNTANT	Shaw Gibbs Limited
	Wey Court West
	Union Road
	Farnham
	Surrey
	GU9 7PT

	Note	2025		2024
		£		£
Fixed assets
Tangible assets	4	2,984		1,877
Investments	5	1		1
		2,985		1,878
Current assets
Debtors	6	205,601		158,020
Cash at bank and in hand		342,692		288,136
		548,293		446,156
Creditors: amounts falling due within one year	7	( 286,283)		( 186,752)
Net current assets		262,010		259,404
Total assets less current liabilities		264,995		261,282
Net assets		264,995		261,282
Capital and reserves
Called-up share capital		255,463		255,463
Share premium account		81,624		81,624
Profit and loss account		( 72,092 )		( 75,805 )
Total shareholders' funds		264,995		261,282

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 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements of Time Technology Limited (registered number: 02782004) were approved and authorised for issue by the Board of Directors on 25 November 2025. They were signed on its behalf by:

P D Skeffington 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 Technology 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 Brook House, Mint Street, Godalming, GU7 1HE, United Kingdom.

The financial statements have been prepared under the historical cost convention, unless specified otherwise, 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 £.

Turnover

Turnover is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer. Turnover from the supply of services represents the value of services provided under contracts to the extent that there is a right to consideration and is recorded at the fair value of the consideration received or receivable. Where a contract has only been partially completed at the Statement of Financial Position date turnover represents the fair value of the service provided to date based on the stage of completion of the contract activity at the Statement of Financial Position date. Where payments are received from customers in advance of services provided, the amounts are recorded as deferred income and included as part of creditors due within one year.

Employee benefits

Defined contribution schemes
The Company operates a defined contribution scheme. The amount charged to the Statement of Income and Retained Earnings 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 Statement of Financial Position.

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

Taxation

Current tax
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement 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.

Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Website costs

3 years straight line

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. 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:

Computer equipment

5 years straight line

Depreciation methods, useful lives and residual values are reviewed at each balance sheet date. The selection of these residual values and estimated lives requires the exercise of judgement. The directors are required to assess whether there is an indication of impairment to the carrying value of assets. In making that assessment, judgements are made in estimating value in use. The directors consider that the individual carrying values of assets are supportable by their value in use.

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.

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

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.

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.

Provisions

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.

Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.

Increases in provisions are generally charged as an expense to profit or loss.

Ordinary share capital

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

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

Investments in unlisted company shares, whose market value can be reliably determined, are remeasured to market value at each reporting date. Gains and losses on remeasurement are recognised in the Statement of Income and Retained Earnings for the period. Where market value cannot be reliably determined, such investments are stated at historic cost less impairment.

2. Employees

	2025		2024
	Number		Number
Monthly average number of persons employed by the Company during the year, including directors	10		10

3. Intangible assets

	Website costs		Total
	£		£
Cost
At 01 April 2024	8,950		8,950
At 31 March 2025	8,950		8,950
Accumulated amortisation
At 01 April 2024	8,950		8,950
At 31 March 2025	8,950		8,950
Net book value
At 31 March 2025	0		0
At 31 March 2024	0		0

4. Tangible assets

	Computer equipment		Total
	£		£
Cost
At 01 April 2024	13,642		13,642
Additions	2,522		2,522
At 31 March 2025	16,164		16,164
Accumulated depreciation
At 01 April 2024	11,765		11,765
Charge for the financial year	1,415		1,415
At 31 March 2025	13,180		13,180
Net book value
At 31 March 2025	2,984		2,984
At 31 March 2024	1,877		1,877

5. Fixed asset investments

Investments in subsidiaries

	2025
	£
Cost
At 01 April 2024	1
At 31 March 2025	1
Carrying value at 31 March 2025	1
Carrying value at 31 March 2024	1

6. Debtors

	2025		2024
	£		£
Trade debtors	179,476		139,857
Prepayments	6,861		0
Deferred tax asset	19,264		18,163
	205,601		158,020

7. Creditors: amounts falling due within one year

	2025		2024
	£		£
Trade creditors	12,104		31,960
Accruals	149,101		84,068
Taxation and social security	65,609		42,839
Other creditors	59,469		27,885
	286,283		186,752

8. Deferred tax

	2025		2024
	£		£
At the beginning of financial year	18,163		0
Credited to the Statement of Income and Retained Earnings	1,101		18,163
At the end of financial year	19,264		18,163

The deferred taxation balance is made up as follows:

	2025		2024
	£		£
Accelerated capital allowances	( 746)		( 469)
Tax losses carry forward	13,454		13,015
Provisions	6,556		5,617
	19,264		18,163

9. Financial commitments

Pensions

The Company operates a defined contribution pension scheme for the directors and employees. The assets of the scheme are held separately from those of the Company in an independently administered fund.

	2025		2024
	£		£
Unpaid contributions due to the fund (inc. in other creditors)	26,223		23,320

10. Related party transactions

During the year the company incurred consultancy costs of £120,791 (£65,423) from Time Technology LLC, a company incorporated in the United States of America and controlled by Mr P Skeffington.
At the year end the company owed Time Technology LLC £11,696 (£27,564).