REGISTERED NUMBER: 03346938 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 28 FEBRUARY 2025

FOR

TIMESCO HEALTHCARE LIMITED

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mr Sohail Fayyaz

Mrs Angela Massey

Mrs Nabila Naseem Fayyaz

Mrs Andeleeb Fayyaz

SECRETARIES:

Mrs Andeleeb Fayyaz

Mrs Nabila Naseem Fayyaz

REGISTERED OFFICE:

Timesco House

3 Carnival Park

Carnival Close

Basildon

Essex

SS14 3WN

REGISTERED NUMBER:

03346938 (England and Wales)

ACCOUNTANTS:

Raffingers Holdings Limited

Chartered Accountants

19-20 Bourne Court

Southend Road

Woodford Green

Essex

IG8 8HD

FIXED ASSETS

Intangible assets

4

57,594

75,886

Tangible assets

5

113,803

173,947

171,397

249,833

CURRENT ASSETS

Stocks

1,670,787

1,733,138

Debtors

1,168,061

1,573,811

Cash at bank and in hand

4,519,536

4,606,619

7,358,384

7,913,568

CREDITORS

Amounts falling due within one year

888,310

823,446

NET CURRENT ASSETS

6,470,074

7,090,122

TOTAL ASSETS LESS CURRENT LIABILITIES

6,641,471

7,339,955

CREDITORS

Amounts falling due after more than one year

-

(58,736

)

PROVISIONS FOR LIABILITIES

(160,945

)

(186,542

)

NET ASSETS

6,480,526

7,094,677

CAPITAL AND RESERVES

Called up share capital

2

2

Retained earnings

6,480,524

7,094,675

SHAREHOLDERS' FUNDS

6,480,526

7,094,677

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 2025 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

All the members have consented to the preparation of an abridged Income Statement and an abridged Balance Sheet for the year ended 28 February 2025 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 19 November 2025 and were signed on its behalf by:

Mr Sohail Fayyaz - Director

1.	STATUTORY INFORMATION

Timesco Healthcare Limited 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.

Turnover

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:

- the company has transferred the significant risks and rewards of ownership to the buyer;

- the company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;

- the amount of revenue can be measured reliably;

- it is probable that the company will receive the consideration due under the transaction; and

- the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation an any accumulated impairment losses.

Goodwill is being amortised evenly over its estimated life of twenty years.

Research and Development assets is being amortised evenly over its estimated life of 10 years.

Tangible fixed assets

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

Plant and machinery

-

25% on reducing balance

Fixtures and fittings

-

15% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

15% on reducing balance

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

When stocks are sold, the carrying amount of those stocks is recognised as an expense in the period in which the related revenue is recognised. The amount of any write-down of stocks to net realisable value and all losses of stocks are recognised as an expense in the period in which the write-down or loss occurs. The amount of any reversal of any write-down of stocks is recognised as a reduction in the amount of inventories recognised as an expense in the period in which the reversal occurs.

Taxation

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.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

Debtors and creditors

Short term debtors and creditors with no stated interest rate are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account

Financial instruments

Basic financial assets, including trade and other receivables and cash and bank balances are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Such assets are subsequently carried at amortised cost using the effective interest method.

Basic financial liabilities, including trade and other payables, bank loans and preference shares that are classified as debt, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Research and development expenditure

Expenditure on research activities is recognised as an expense in the period in which it is incurred.

In the event that an internally generated intangible asset arises from the company's development activities then it will be recognised only if all of the following conditions are met:

- An asset is created that can be identified;

- The project from which the asset arises meets the company's criteria for assessing technical feasibility;

- It is probable that the asset created will generate future economic benefits; and

- The development cost of the asset can be measured reliably.

Internally generated intangible assets are amortised on a straight-line basis over their useful lives. Where no internally generated intangible asset can be recognised, development expenditure is recognised as an expense in the period in which it is incurred.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 38 (2024 - 41 ) .

4.	INTANGIBLE FIXED ASSETS

Totals

£

COST

At 1 March 2024

and 28 February 2025

2,741,244

AMORTISATION

At 1 March 2024

2,665,358

Amortisation for year

18,292

At 28 February 2025

2,683,650

NET BOOK VALUE

At 28 February 2025

57,594

At 29 February 2024

75,886

5.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1 March 2024

534,692

Additions

12,507

Disposals

(135,630

)

At 28 February 2025

411,569

DEPRECIATION

At 1 March 2024

360,745

Charge for year

21,392

Eliminated on disposal

(84,371

)

At 28 February 2025

297,766

NET BOOK VALUE

At 28 February 2025

113,803

At 29 February 2024

173,947

6.	SECURED DEBTS

The following secured debts are included within creditors:

2025

2024

£

£

Other loans

-

75,085

The borrowing is secured over one of the cars held by the company.

7.	CONTINGENT LIABILITIES

There were no contingent liabilities at the balance sheet date.

8.	CAPITAL COMMITMENTS

The company had no capital commitments at 28 February 2025 or 29 February 2024.

9.	RELATED PARTY DISCLOSURES

As at the previous balance sheet date, the company owed £25,149 to Mrs Nabila Fayyaz and £14,222 to Mr Sohail Fayyaz, the company's directors.

During the year, the company paid rent amounting to £306,600 (2024: £299,400) to Timesco Property Partnership, a partnership in which Mr Sohail Fayyaz and Mrs Nabila Fayyaz are members.

During the year, total remunerations paid to close family members of the directors and key management personnel amounting to £163,689 (2024: £224,157).