Timoleon Limited 31/12/2021 iXBRL

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Company registration number: 09941203

Timoleon Limited

Unaudited filleted financial statements

31 December 2021

TIMOLEON LIMITED

DIRECTORS AND OTHER INFORMATION


	Directors	Mr D H Trivett
		Mr C J Parker
		Mr A A Gaydon
		Mr M R Fairweather


	Company number	09941203


	Registered office	26-28 Southernhay East
		Exeter
		Devon
		EX1 1NS


	Business address	Apple Lane
		Sidmouth Road
		Exeter
		Devon
		EX2 5GL

TIMOLEON LIMITED

STATEMENT OF FINANCIAL POSITION

31 DECEMBER 2021

		2021		2020
	Note	£	£	£	£

Current assets
Debtors	5	338,149		382,495
Cash at bank and in hand		1,736		103
		_______		_______
		339,885		382,598
Creditors: amounts falling due
within one year	6	( 204,590)		( 323,248)
		_______		_______
Net current assets			135,295		59,350
			_______		_______
Total assets less current liabilities			135,295		59,350

Creditors: amounts falling due
after more than one year	7		( 35,330)		( 44,712)
			_______		_______
Net assets			99,965		14,638
			_______		_______

Capital and reserves
Called up share capital			100		100
Profit and loss account	8		99,865		14,538
			_______		_______
Shareholders funds			99,965		14,638
			_______		_______

For the year ending 31 December 2021 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 year in question in accordance with section 476;

- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.

These financial statements were approved by the board of directors and authorised for issue on 25 August 2022 , and are signed on behalf of the board by:

Mr D H Trivett

Director

Company registration number: 09941203

TIMOLEON LIMITED

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31 DECEMBER 2021

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 26-28 Southernhay East, Exeter, Devon, EX1 1NS.

The principal activity of the company is the provision of heating solutions.

2. Statement of compliance

These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.Accounting estimates and assumptions are made concerning the future and, by their nature, will rarely equal the related actual outcome.

Turnover

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Cash and cash equivalents

Cash and cash equivalents comprise cash at bank and in hand, demand deposits with banks and other short-term highly liquid investments with original maturities of three months or less and bank overdrafts. In the statement of financial position, bank overdrafts are shown within borrowing or current liabilities.

Financial instruments

A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument.

Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 2 (2020: 2 ).

5. Debtors

	2021	2020
	£	£
Trade debtors	131,822	174,094
Amounts owed by group undertakings and undertakings in which the company has a participating interest	205,087	208,087
Other debtors	1,240	314
	_______	_______
	338,149	382,495
	_______	_______

6. Creditors: amounts falling due within one year

	2021	2020
	£	£
Bank loans and overdrafts	9,383	5,287
Trade creditors	-	13
Amounts owed to group undertakings and undertakings in which the company has a participating interest	171,587	307,191
Accruals and deferred income	1,000	1,140
Social security and other taxes	22,620	9,617
	_______	_______
	204,590	323,248
	_______	_______

7. Creditors: amounts falling due after more than one year

	2021	2020
	£	£
Bank loans	35,330	44,712
	_______	_______

8. Reserves

Profit and loss account:This reserve records retained earnings and accumulated losses.