Timepeak Ltd - Accounts to registrar (filleted)

REGISTERED NUMBER: 05998571 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 NOVEMBER 2018

FOR

TIMEPEAK LTD

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

O Shulman

SECRETARY:

D Scheller

REGISTERED OFFICE:

123A Brooke Road

London

N16 7RJ

REGISTERED NUMBER:

05998571 (England and Wales)

ACCOUNTANTS:

Venitt and Greaves

Chartered Accountants

115 Craven Park Road

South Tottenham

London

N15 6BL

FIXED ASSETS

Investment property

3

480,000

CREDITORS

Amounts falling due within one year

4

62,252

69,124

NET CURRENT LIABILITIES

(62,252

)

(69,124

)

TOTAL ASSETS LESS CURRENT
LIABILITIES

417,748

410,876

CREDITORS

Amounts falling due after more than one
year

5

140,067

141,061

NET ASSETS

277,681

269,815

CAPITAL AND RESERVES

Called up share capital

6

1

Revaluation reserve

7

234,842

Retained earnings

7

42,838

34,972

SHAREHOLDERS' FUNDS

277,681

269,815

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 2018 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 of Part 15 of the Companies Act 2006 relating to small companies.

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 on 8 January 2019 and were signed by:

O Shulman - Director

1.	STATUTORY INFORMATION

Timepeak 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.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Transition to financial reporting standards 102

The company has adopted FRS 102 Section 1A for the first time in the preparation of these accounts.

Accordingly the date of transition to FRS 102 was 1 Dec 2015 (beginning of the accounting period of

comparative financial year).

There are no material differences in determining the company's profit and loss under FRS 102 Section 1A and

the previous framework the company adopted (the Financial Reporting Standard for Smaller Entities (effective

January 2015)).

Turnover

Turnover represents net rent receivable, excluding value added tax.

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in

fair value is recognised in profit or loss.

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.

3.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 December 2017

and 30 November 2018

480,000

NET BOOK VALUE

At 30 November 2018

480,000

At 30 November 2017

480,000

Fair value at 30 November 2018 is represented by:

£

Valuation in 2017

234,842

Cost

245,158

480,000

4.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.11.18

30.11.17

£

Taxation and social security

3,798

1,953

Other creditors

58,454

67,171

62,252

69,124

5.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR

30.11.18

30.11.17

£

Bank loans

140,067

141,061

6.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

30.11.18

30.11.17

value:

£

1

Ordinary

£1

1

7.

RESERVES

Retained

Revaluation

earnings

reserve

Totals

£

At 1 December 2017

34,972

234,842

269,814

Profit for the year

7,866

At 30 November 2018

42,838

234,842

277,680

8.	ULTIMATE CONTROLLING PARTY

The controlling party is O Shulman.

Timepeak Ltd - Accounts to registrar (filleted) - small 18.2

Timepeak Ltd - Accounts to registrar (filleted) - small 18.2