Time Manufacturing Acq. (UK) Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 10560981 (England and Wales)

TIME MANUFACTURING

ACQUISITION (UK) LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2019

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mr J Jeffery

Mr C Howell

Mr L Reinhard

REGISTERED OFFICE:

1 Altendiez Way

Burton Latimer

Kettering

Northamptonshire

NN15 5YZ

REGISTERED NUMBER:

10560981 (England and Wales)

ACCOUNTANTS:

ApC

Chartered Accountants

7 St John Street

Mansfield

Nottinghamshire

NG18 1QH

FIXED ASSETS

Investments

5

1,300,000

1,300,000

CREDITORS

Amounts falling due within one year

6

1,299,900

1,299,900

NET CURRENT LIABILITIES

(1,299,900

)

(1,299,900

)

TOTAL ASSETS LESS CURRENT LIABILITIES

100

100

CAPITAL AND RESERVES

Called up share capital

7

100

100

SHAREHOLDERS' FUNDS

100

100

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2019 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.

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 on 16 October 2019 and were signed on its behalf by:

Mr J Jeffery - Director

1.	STATUTORY INFORMATION

Time Manufacturing Acquisition (UK) 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.	STATEMENT OF COMPLIANCE

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.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared under the historical cost convention.

Preparation of consolidated financial statements

The financial statements contain information about Time Manufacturing Acquisition (UK) Limited as an

individual company and do not contain consolidated financial information as the parent of a group. The

company is exempt under Section 400 of the Companies Act 2006 from the requirements to prepare

consolidated financial statements as it and its subsidiary undertaking are included by full consolidation in the

consolidated financial statements of its parent, The Sterling Group LP, Nine Greenway Plaza, STE2400,

Houston, Texas, 77046, United States..

Related party exemption

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The

Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party

transactions with wholly owned subsidiaries within the group.

Significant judgements and estimates

The significant judgements and estimates are as follows:

The directors has assessed the value of the investment in its subsidiary and consider that there is no impairment

that should be provided for.

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

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.

Financial instruments

Financial instruments 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 entity after deducting all of its financial liabilities.

Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar

debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented

as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the

profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the

outstanding liability.

Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability

then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are

debited direct to equity.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2018 - 2 ) .

5.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST

At 1 February 2018

and 31 January 2019

1,300,000

NET BOOK VALUE

At 31 January 2019

1,300,000

At 31 January 2018

1,300,000

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Amounts owed to group undertakings

1,299,900

1,299,900

7.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2019

2018

value:

£

£

100

Ordinary

£1

100

100

8.	ULTIMATE CONTROLLING PARTY

At the year end the company is a wholly owned subsidiary of Time Manufacturing Acquisition LLC its ultimate

parent, a company incorporated and operating in the United States of America and its financial statements are

incorporated in the consolidated financial statements prepared by that company.

Time Manufacturing Acqusitions LLC is the parent company of the smallest group of which the company is a

member who's address is 7601 Imperial Drive, PO Box 20368, Waco, Taxas, 76702-0368, United States of

America. The Sterling Group LP is the parent company of the largest group of which the company is a member

who's address is Nine Greenway Plaza, STE2400, Houston, Texas, 77046, United States.

Group financial statements of the largest group are available from Nine Greenway Plaza, STE2400, Houston,

Texas, 77046, United States.